The Rich Get Richer

[Canton Kev]

Kwasi Kwarteng scraps the planned Corporation tax rise and the cap on banker's bonuses. The top rate of income tax, 45% on earnings over £150,000, is being abolished altogether.

An expected cost of ~£40Bn to the Treasury.

Maybe this time trickle down economics will work…

[the other bob wilson]

Re: The Rich Get Richer

Kwasi Kwarteng scraps the planned Corporation tax rise and the cap on banker's bonuses. The top rate of income tax, 45% on earnings over £150,000, is being abolished altogether.

An expected cost of ~£40Bn to the Treasury.

Maybe this time trickle down economics will work…

Money floods into the richest coffers and, allegedly, trickles down to us - why has this never happened in the past? For example, in the South Wales valleys when coal was king a hundred years and more ago?

[Dave Blue]

Re: The Rich Get Richer

They then get the plebs to turn on each other when fighting over the crumbs that are left.

[The Bloop]

Re: The Rich Get Richer

Truss and Kwarteng assume that the richest, who they're helping today, will just spend their extra money with gay abandon and that will pull us out of recession.
Poppycock.

[Eric Cartman]

Re: The Rich Get Richer

Truss and Kwarteng assume that the richest, who they're helping today, will just spend their extra money with gay abandon and that will pull us out of recession.
Poppycock.

They definitely want people to think that is what they assume. It's just a giveaway to those who don't need it while everyone else suffers.

[life on mars]

Re: The Rich Get Richer

Just for balance some so called plebs may get something ??

My daughter on disability will get £1200 energy support on top of the 2.5k cap costs 31billion

Business energy support 19 billion to save jobs stop prices going up that alleged plebs will be hit by.

Unions like rail demanding a greedy 12% pay increases will see a socialist driven trickle down cost to the ordinary public and poorer workers using trains via fare increases and less trains ..



Don't forget the 70 billion money poured into Furlough to keep those at the bottom end survive sadly on 80% helping those in the private sector work , and lets not forget the 100% paid up civil service jobs during the same period probably saved money with stay at home benefits.

The 1.25% NI rise for health was changed so those under £34k would not be effected that is for poor folks ..
Spring Statement saw the threshold at which you start paying National Insurance rise by £3,000, to £12,570 from 6 July 2022 , taking 2.2 million out of paying National Insurance Contributions altogether.

This bulletin presents headline statistics on the UK Civil
Service workforce, including demographic characteristics,
earnings, grades, and locations of civil servants.
Key Statistics:

3.5% overall rise offered

Civil service headcount 510,080 On a full-time equivalent (FTE) 478,090. 2022

before 2022
• Civil Service headcount is 484,880, up from 456,410
in 2020. On a full-time equivalent basis (FTE),
employment is 452,830, up from 423,770 in 2020.
These figures exclude 19,310 UK Statistics
Authority staff employed on short term contracts
to deliver Census 2021 (see notes on page 23).
Of these civil servants:
• 54.2% are women, up from 53.8% in 2020.
• 14.3% are from an ethnic minority background, up
from 13.2% in 2020.
• 13.6% declare themselves as having a disability, up
from 12.8% in 2020.
• 5.6% identify as being lesbian, gay, bisexual or
recorded their sexual orientation as ‘other’ (LGBO), up
from 5.0% in 2020.
• 70.0% are working at Executive Officer (EO) grade
and above, up from 67.8% in 2020 and 52.9% in
2011.
• The median age of civil servants is 45 years, down
from 46 in 2020.
• Headcount has increased across all regions over the
year, with the largest increase in London (101,930, up
from 91,660 in 2020).
• The median salary is £29,180, up £1,000 (3.5%) from
£28,180 in 2020.
• The median and mean gender pay gap for the Civil
Service is 8.1% and 7.8%, down from 10.5% and
9.3% in 2020 respectively.
• There were 57,200 entrants to the Civil Service in
2020/21, up from 40,680 in 2019/20. In 2020/21,
27,830 people left the Civil Service, down from 34,070
in 2019/20.

[Rjk]

Re: The Rich Get Richer

Kwasi Kwarteng scraps the planned Corporation tax rise and the cap on banker's bonuses. The top rate of income tax, 45% on earnings over £150,000, is being abolished altogether.

An expected cost of ~£40Bn to the Treasury.

Maybe this time trickle down economics will work…

3gwdow.jpg

[Doucas]

Re: The Rich Get Richer

Just for balance some so called plebs may get something ??

My daughter on disability will get £1200 energy support on top of the 2.5k cap costs 31billion

Business energy support 19 billion to save jobs stop prices going up that alleged plebs will be hit by.

Unions like rail demanding a greedy 12% pay increases will see a socialist driven trickle down cost to the ordinary public and poorer workers using trains via fare increases and less trains ..



Don't forget the 70 billion money poured into Furlough to keep those at the bottom end survive sadly on 80% helping those in the private sector work , and lets not forget the 100% paid up civil service jobs during the same period probably saved money with stay at home benefits.

The 1.25% NI rise for health was changed so those under £34k would not be effected that is for poor folks ..
Spring Statement saw the threshold at which you start paying National Insurance rise by £3,000, to £12,570 from 6 July 2022 , taking 2.2 million out of paying National Insurance Contributions altogether.

This bulletin presents headline statistics on the UK Civil
Service workforce, including demographic characteristics,
earnings, grades, and locations of civil servants.
Key Statistics:

3.5% overall rise offered

Civil service headcount 510,080 On a full-time equivalent (FTE) 478,090. 2022

before 2022
• Civil Service headcount is 484,880, up from 456,410
in 2020. On a full-time equivalent basis (FTE),
employment is 452,830, up from 423,770 in 2020.
These figures exclude 19,310 UK Statistics
Authority staff employed on short term contracts
to deliver Census 2021 (see notes on page 23).
Of these civil servants:
• 54.2% are women, up from 53.8% in 2020.
• 14.3% are from an ethnic minority background, up
from 13.2% in 2020.
• 13.6% declare themselves as having a disability, up
from 12.8% in 2020.
• 5.6% identify as being lesbian, gay, bisexual or
recorded their sexual orientation as ‘other’ (LGBO), up
from 5.0% in 2020.
• 70.0% are working at Executive Officer (EO) grade
and above, up from 67.8% in 2020 and 52.9% in
2011.
• The median age of civil servants is 45 years, down
from 46 in 2020.
• Headcount has increased across all regions over the
year, with the largest increase in London (101,930, up
from 91,660 in 2020).
• The median salary is £29,180, up £1,000 (3.5%) from
£28,180 in 2020.
• The median and mean gender pay gap for the Civil
Service is 8.1% and 7.8%, down from 10.5% and
9.3% in 2020 respectively.
• There were 57,200 entrants to the Civil Service in
2020/21, up from 40,680 in 2019/20. In 2020/21,
27,830 people left the Civil Service, down from 34,070
in 2019/20.

Don't worry guys, LOM has got this covered the average age of the civil service has lowered by one year, we are saved.

My family has a couple of businesses, despite these announcements their costs have essentially doubled this year and this package doesn't reverse that.

I'll never understand how someone with a disabled family member could ever vote Conservative, this is coming from someone who also has a disabled family member that needs a lot of support.

[Eric Cartman]

Re: The Rich Get Richer

Anyway, moving on from that nonsensical copy paste from lom.

I saw an interesting piece recently in the ft about wage distribution and how the 'low wage economy' line actually doesn't apply to the top 5-10% of earners, whose salary's are broadly in line with the higher wage economies. It deviates as you move down the scale, we were something like 5th for the highest bracket, 12th for median income and 15th for the lowest earners. So actually what we have is a comparatively low wage economy for the middle and lower earners which is exactly why Kwasi has targeted tax cuts on the highest earners, and if you don't agree, you love Putin.

Found the article, it was behind a paywall on one link then not on another so hopefully people can see it https://www.ft.com/content/ef265420-...8-c951baa68945

The most striking sentence for me -
'last year the lowest-earning bracket of British households had a standard of living that was 20 per cent weaker than their counterparts in Slovenia.'

[Rjk]

Re: The Rich Get Richer

Anyway, moving on from that nonsensical copy paste from lom.

I saw an interesting piece recently in the ft about wage distribution and how the 'low wage economy' line actually doesn't apply to the top 5-10% of earners, whose salary's are broadly in line with the higher wage economies. It deviates as you move down the scale, we were something like 5th for the highest bracket, 12th for median income and 15th for the lowest earners. So actually what we have is a comparatively low wage economy for the middle and lower earners which is exactly why Kwasi has targeted tax cuts on the highest earners, and if you don't agree, you love Putin.

Found the article, it was behind a paywall on one link then not on another so hopefully people can see it https://www.ft.com/content/ef265420-...8-c951baa68945

The most striking sentence for me -
'last year the lowest-earning bracket of British households had a standard of living that was 20 per cent weaker than their counterparts in Slovenia.'

from same article

20220916_140743.jpg

[SLUDGE FACTORY]

Re: The Rich Get Richer

Don't worry guys, LOM has got this covered the average age of the civil service has lowered by one year, we are saved.

My family has a couple of businesses, despite these announcements their costs have essentially doubled this year and this package doesn't reverse that.

I'll never understand how someone with a disabled family member could ever vote Conservative, this is coming from someone who also has a disabled family member that needs a lot of support.

I am also amazed when disabled or carers of disabled people vote Tory

It's staggering

They don't give a toss for the vulnerable

[delmbox]

Re: The Rich Get Richer

Anyway, moving on from that nonsensical copy paste from lom.

I saw an interesting piece recently in the ft about wage distribution and how the 'low wage economy' line actually doesn't apply to the top 5-10% of earners, whose salary's are broadly in line with the higher wage economies. It deviates as you move down the scale, we were something like 5th for the highest bracket, 12th for median income and 15th for the lowest earners. So actually what we have is a comparatively low wage economy for the middle and lower earners which is exactly why Kwasi has targeted tax cuts on the highest earners, and if you don't agree, you love Putin.

Found the article, it was behind a paywall on one link then not on another so hopefully people can see it https://www.ft.com/content/ef265420-...8-c951baa68945

The most striking sentence for me -
'last year the lowest-earning bracket of British households had a standard of living that was 20 per cent weaker than their counterparts in Slovenia.'

Here's a paywall destroyer for you https://12ft.io/

[Eric Cartman]

Re: The Rich Get Richer

Here's a paywall destroyer for you https://12ft.io/

And I thought today was going to be a bad day, thank you kindly.

[Wales-Bales]

Re: The Rich Get Richer

It sounds like a plan to finish off all the small businesses.

[TWGL1]

Re: The Rich Get Richer

It sounds like a plan to finish off all the small businesses.

The cuts to Universal Credit ( an in work benefit ) is staggering.

Looks like a pathway to Universal Basic Income.