Turn on thread page Beta
    • Political Ambassador
    • Thread Starter
    Offline

    18
    ReputationRep:
    Political Ambassador
    Thoughts opinions views?

    http://www.bbc.co.uk/news/uk-politics-12824055

    Seems good to me might actually help the country grow.
    Offline

    19
    ReputationRep:
    On behalf of the Right: Great budget, really going to reduce the defecit and promote growth, Britain is back open for business, Labour's mess is finally going to be sorted out

    On behalf of the Left: What a let down, typical Tory scum not caring about the people, it's too much too fast and it's hurting but it ain't working. All the schemes are going to fail and I want everyone to lose their jobs and see the economy implode just so Labour can win the next election.
    Offline

    0
    ReputationRep:
    (Original post by pol pot noodles)
    On behalf of the Right: Great budget, really going to reduce the defecit and promote growth, Britain is back open for business, Labour's mess is finally going to be sorted out

    On behalf of the Left: What a let down, typical Tory scum not caring about the people, it's too much too fast and it's hurting but it ain't working. All the schemes are going to fail and I want everyone to lose their jobs and see the economy implode just so Labour can win the next election.


    Problem is that's the extent of the debate within the Commons...
    Offline

    2
    ReputationRep:
    Better than I expected, good on him for the 2% cut to Corporation tax. Not to mention the simplification of tax and cutting of Red Tape is exactly what businesses need for growth.

    But yeah, More Apprenticeships, more Tech Colleges, Enterprise Zones ect. Really a good boost to British Industry hopefully with this.
    Offline

    20
    ReputationRep:
    52p on a bottle of spirit?!?!
    Offline

    13
    ReputationRep:
    The cut in fuel tax then increasing tax on oil companies seems rather circular (for lack of a better term) to me.
    Offline

    20
    ReputationRep:
    (Original post by Wednesday Bass)
    The cut in fuel tax then increasing tax on oil companies seems rather circular (for lack of a better term) to me.
    You're forgetting the corp tax reduction too...
    Offline

    17
    ReputationRep:
    I think one of the most promising things in the budget was the merging of income tax and national insurance. It's absolutely brilliant that many of the suggestions by the Office for Tax Simplification have been taken on board.

    However, in saying that, I am also annoyed because although they have simplified it in some areas, they are making it more complicated in others. I believe it was the City AM analyst who said they are removing 1% but adding 3%... not helpful! It's too complicated!
    Offline

    17
    ReputationRep:
    http://www.bbc.co.uk/news/science-environment-12833654

    ^^ That is also good news. Extra investment for science and the space industry.
    Offline

    19
    ReputationRep:
    (Original post by Teaddict)
    http://www.bbc.co.uk/news/science-environment-12833654

    ^^ That is also good news. Extra investment for science and the space industry.
    Agreed. That can only be good for the economy. Our intellectual ingenuity is one of our few remaining assets and we should actively encourage it's growth.
    Some people want the UK to mimick China's industry, but why do that when we can pioneer our own path?
    Offline

    2
    ReputationRep:
    Corporate tax reduction, you couldn't make it up..
    Offline

    2
    ReputationRep:
    (Original post by garethDT)
    Corporate tax reduction, you couldn't make it up..
    Yes, more profit, meaning more investment, meaning far more jobs for those leaving the public sector. Exactly what this country needs for recovery.
    Offline

    20
    ReputationRep:
    (Original post by Will Lucky)
    Yes, more profit, meaning more investment, meaning far more jobs for those leaving the public sector. Exactly what this country needs for recovery.
    Sorry, why doesn't it mean a higher dividend?
    Offline

    2
    ReputationRep:
    (Original post by Will Lucky)
    Yes, more profit, meaning more investment, meaning far more jobs for those leaving the public sector. Exactly what this country needs for recovery.
    More profit for the corporations.

    You honestly think if a business pays less tax then it will automatically take on more staff? It doesn't work like that.

    Osborne is protecting the interests of his corporate friends.
    Offline

    17
    ReputationRep:
    (Original post by garethDT)
    More profit for the corporations.

    You honestly think if a business pays less tax then it will automatically take on more staff? It doesn't work like that.

    Osborne is protecting the interests of his corporate friends.
    Not in itself.

    However quite a lot of companies have a targeted % of profits that will be retained and invested to grow the business and a % that is distributed as dividends. Given in theory companies only invest in themselves as they believe they can achieve a suitable rate of return on said investment, allowing them to retain a larger % of profits may in the long term lead to growth.

    In addition a lower headline tax rate helps to reassure business:

    1. The UK is a good environment to remain within, you don't need to leave.
    2. The UK is a good environment to trade, come here.

    The CT rate cut is merely an acceleration of previous commitment, just two years anticipated cut in one year.

    It is also predicated on the belief that private enterprise is more efficient at investment than the state, the perpetual argument between those that consider the state can better target investments and those that believe the private sector is more flexible and will invest for greater return.

    I read this announcement more as a signal he is sending rather than a policy which will cure economic ills.
    Offline

    17
    ReputationRep:
    (Original post by DJKL)
    Not in itself.

    However quite a lot of companies have a targeted % of profits that will be retained and invested to grow the business and a % that is distributed as dividends. Given in theory companies only invest in themselves as they believe they can achieve a suitable rate of return on said investment, allowing them to retain a larger % of profits may in the long term lead to growth.

    In addition a lower headline tax rate helps to reassure business:

    1. The UK is a good environment to remain within, you don't need to leave.
    2. The UK is a good environment to trade, come here.

    The CT rate cut is merely an acceleration of previous commitment, just two years anticipated cut in one year.

    It is also predicated on the belief that private enterprise is more efficient at investment than the state, the perpetual argument between those that consider the state can better target investments and those that believe the private sector is more flexible and will invest for greater return.

    I read this announcement more as a signal he is sending rather than a policy which will cure economic ills.
    Well, actually the total rate reduction (happening over a few years, up to 2014) has now been increased - it was previously to go from 28% down to 24%, but now will go 1% further, to 23%.

    Otherwise, spot on! :yy:
    Offline

    0
    ReputationRep:
    A good budget. The best part is that the economy will be more business friendly. I would eliminate all business taxes, but that is just me.
    Offline

    11
    ReputationRep:
    (Original post by garethDT)
    More profit for the corporations.

    You honestly think if a business pays less tax then it will automatically take on more staff? It doesn't work like that.

    Osborne is protecting the interests of his corporate friends.
    Profit bad is it?
    Offline

    2
    ReputationRep:
    (Original post by technik)
    Profit bad is it?
    When it goes into the pockets of just a few individuals off the back of the hard work of thousands yes.
    Offline

    11
    ReputationRep:
    (Original post by garethDT)
    When it goes into the pockets of just a few individuals off the back of the hard work of thousands yes.
    What's your replacement idea?
 
 
 
Poll
Is the Big Bang theory correct?
Useful resources

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.