Tuesday, Feb 12, 2008
Who the hell is running this country?
Times: Darling backtracks on 'non-dom' charge
Alistair Darling has dropped key parts of his controversial plans to tax non-domiciled foreigners living in Britain in the face of unprecedented opposition from business and the City. The Chancellor, faced with a growing political storm over his so-called "non-dom" tax proposals, outlined his u-turn in a letter sent today to tax lawyers and specialist accountants, a copy of which has been passed to The Times.
Posted by jack c @ 07:06 PM (974 views) Add Comment
20 Comments
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1. Ash4781 said...
lol They'll have to put up income tax
2. hpwatcher said...
''Who the hell is running this country?''
Clearly not Labour......though, actually I'm quite thankful for that.
3. tyrellcorporation said...
laughable... they've bottled it because the non-doms bring in cash and lots of it. Labour has zero principles, if indeed it had any to begin with.
4. little professor said...
"Who the hell is running this country?"
Simple - the uber-wealthy who are affected by the change in the non-dom rules.
See the Guardian investigation today to see how much influence this powerful lobby really has:
http://www.guardian.co.uk/business/2008/feb/12/economy.gordonbrown
They want to enjoy the restaurants, lifestyle etc but threaten to run to the UAE whenever any changes are proposed. What a bunch of asshats.
5. shipbuilder said...
And we'll accept it because they are 'good for the economy' and there's just no arguing against that statement anymore.
6. guiriduro said...
Darling : we need more cash to buy failing banks and fund illegal wars, citizens pips are squeaking, maybe we should finally tax the fatcats
Fatcats : Wah!!! Going to throw toys out of the pram waaaaaaah!!
NuLab : there! there! we didn't mean it. Although you represent 0% of our electorate, we need your donations, bungs, and jobs when we are finally ejected from this government that we've utterly fooked up. Citizen pips need squeezing again then... anybody seen Darling?!
Thankfully I live in Spain. Why you put up with that shower of shite is beyond me.
7. su said...
Apologies for my ignorance, but can anyone explain why this country needs to keep these non-doms here? I assume they must be important if the Govt doesn't want them to leave.
8. Plato said...
Problem is : Hundreds of thousands of ordinary Pensioners like me and my wife are leaving Britain and taking their pensions with them to spend in other kinder countries as a result of the deteriorating, unfair and high cost of living in the UK.
Is this good for the British Economy Mr Brown?
9. bystander said...
Prime london realestate is the driving force behind the house price increases and who buys them - the Uber wealthy and who gets the stamp on these properties - nuliebor and who gives it straight back to the uber wealthy in tax incentives - Nuliebor. The GDP in the UK is bigger than the USA - Nuliebor look like they may be doing something socialist - like take from the rich to give to the poor - but 'about face'- again to show their true blue/ or should that be yellow colours. They are meerly the puppets of the moneymen and women who click their fingers and the politicians jump.
"Oh no I seem to have stuffed up my business model and not kept an eye on the competition, bail me out with a rate cut or two" - Marks and Spencers.
"Oh No our business model has been found to be total and utter garbage, could you bail us out to the tune of 25Bln GBP, of tax payers money" - Northern Crock
Crash and Darling are told "you will need to find an extra 8Bln GBP a year to cope with your massive trade deficit".
I know we'll tax those free loading rich foreign guys - take some of their petty cash.
"Oh No you won't, we'll huff and we'll puff and we'll remove all Nuliebor funding and threaten to leave the country, as we do every six months anyway to benefit from all your lovely non-dom benefits".
"Oh No" thinks Crash and Darling "where will we get the money from?????"
Raise the tax on petrol - tell the public inflation is only 2.2% and they are all so stupid and up to their necks in debt they won't notice.
It would be a wonderful piece of history to watch a socialist government ousted by the proletariat.
This is the sneakiest,most corrupt and above all incompetent government I can remember.
10. mrmickey said...
Oh dear looks like our Marxist leaders will have to content themselves with pushing the general population around a bit more to get their thrills and leave to super rich well alone.
11. happyrenterz said...
Maybe he read the scathing newspaper reports on this like this Times one Global businesses look at the present Labour Government and think about moving away from London
12. Peter Kiddle said...
The current Labour administration will finish their term as all other Labour governments have, with runaway inflation, a buggered economy, a massive trade deficit and a legacy of completely fabricated jobs in the public sector for the next government to unwind.
This is the most crass and incompetent government I can ever remember. Considering the healthy economy they inherited from the Tories it is truly a case of 'snatching defeat from the jaws of victory'.
13. jack c said...
Similar article now on the FT website - "Political opponents on Tuesday night accused the chancellor of weakness and incompetence, while tax experts warned the U-turn was not sufficient to prevent an exodus of talent from the UK"
I can see 2008/2009 turning into a re-run of the late 1970's under Labour - you are looking at an economic crash under this lot never mind HPC.
14. enuii said...
Trouble with politicians is they they themselves never loose out i.e. 10 years of being an MP equals 27 years of being an employee with regard to pension rights. Their pay is not performance related, they are by and large unaccountable and require no qualifications for the job in hand.
While the trough is there they will fill their greedy little snouts as fast as is possible.
15. Stevie Dee said...
Guys, I don't want to sound like I'm hugging trees. But I remember not so many moons ago, an expression banded about, it was "the lunatics have taken over the asylum". As it is now apparent in the both local and national politics as well the world financial markets, it doesn't take the "village idiot" to work out the natural consequences of this occurance which has obviously occurred.
16. Mightytharg said...
Well it's good that they are backtracking - it was an unfair tax proposal - sixty grand charge plus no tax allowances for a couple who happened to be born abroad (even when they'd already paid capital gains tax abroad) - what were they even thinking?
17. Landofconfusion said...
> 13. jack c said...
>
> you are looking at an economic crash under this lot never mind HPC.
Unfortunately I think you're right. Economies are based on growth, not debt. Debt gives the illusion of growth and allows some people to profiteer and become rich (we call these people BTL'ers). But this debt bubble will burst and like all bubbles, the bigger it is the worse the fallout.
As for all the comments about new Liebour - I completely agree.
18. European-bear said...
Lets see...non doms. They gamble on financial market, buy lots of US mortgage securites which now has the value of bog roll and then get huge bonuses. But because the money (they lose) is so important in propping up the financial centres, they must also be given an unfair tax break. Not only that huge disparities in wealth have a greater deliterious effect on social cohesion then uniformily lower (average) income.
19. Orwell said...
Enuii?
1:1.7 ratio? You have to be joking!
A good (i.e. skillfull, creative and manipulative) MP can 'earn' over £100k per annum in the UK and that is a conservative figure. To me that is about 1:4 ratio vis a vis the national avergae wage (about £24k?). Correct me if I am wrong though...
20. su said...
Thanks happyrenterz for the link. It explains everything! To tax or not to tax the non-doms seems to be rather a complex issue, balancing the requirement to tax fairly with the need to attract and keep foreign businesses here. It would be nice if our home-grown businesses got more help.