Tax cuts for the rich and for business.

[Observer]

Not looking so clever now, tax receipts are down! .. http://www.bbc.co.uk/news/business-34323280

[Feedback]

That's not quite true is it. The article says that Corp tax and income tax receipts are down and this is due to delayed payments from taxpayers and not due to less tax bring collected. It's a timing issue. Over the course of this year the government is looking to borrow 69bn rather than the 89bn of the previous year.

[Jimmy Jimmy]

So this year we will borrow 20 billion less.
What is the interest payable on 20 billion ?

What is the percentage of income tax taken for the 20% and 40% brackets ?
How much of the % tax take is corporation tax ?
And how much % is taken in Vat

Only then would you then have a clearer picture of the current tax policy and to see what needs changing.

It still equates to shifting deck chairs on the titanic though - you can only pay your debts if you grow your economy and you can only do that by exporting goods / services. With Europe / China and most of the rest of the world struggling - it is a bit of a struggle

[ragbone]

Not looking so clever now, tax receipts are down! .. http://www.bbc.co.uk/news/business-34323280

[Observer]

So this year we will borrow 20 billion less.

Not according to Feedback they aren't

[Feedback]

So this year we will borrow 20 billion less.

What is the interest payable on 20 billion ?

Que?

[Observer]

So this year we will borrow 20 billion less.

What is the interest payable on 20 billion ?

What is the percentage of income tax taken for the 20% and 40% brackets ?

We had a discussion a few months ago where I told you the world economy was slowing down. You then spent 4 pages saying no it wasn't