Saturday, Dec 05, 2009
It's not over until Darling sings
Telegraph: Pay cut for two million Britons causes collapse in tax revenue
According to treasury figures between April and October, the amount the Treasury received in income tax fell by over 16 per cent compared with the same period in 2008. Apparently this totaled a £17 billion loss with 1.7 million people who might have been made redundant in the recession being saved from the dole queue by taking a pay cut or shorter hours. While Mr Darling will cite next week that the shift to "more flexible working" and the Government's policies have helped prevent unemployment the Treasury still expects unemployment levels to rise further next year.
Posted by enuii @ 01:21 PM (1561 views) Add Comment
19 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. crunchy said...
To the creative thinking it's called inflation not deflation.
BTW has anyone reinsured their car lately? Lawfull Crooks!
2. crunchy said...
Speaking of Lawfull Crooks. (probably)
lackey Russell
"A civil servant who is a member of one of the most vehemently pro man-made global warming advocacy organizations in Europe which also has direct ties to the IPCC has been handed the job of whitewashing the investigation into the University of East Anglia, while absurdly billing himself as impartial and unconnected to climate science."
"Pay cut for two million Britons causes collapse in tax revenue" No worries, we've got Russell the Muscle!
3. crunchy said...
"Having the IPCC investigate climategate would be like Ken Lay heading up the Enron enquiry." lol
4. markj69 str05 said...
I narrowly dodged a pay cut this year, and have had no bonus for the last 2 years. I consider myself very lucky.
Thousands of people are loosing their jobs.
Critically ill people can't afford to heat their homes.
Many sad/bad stories at a time when the festivities should start to begin.
And those greedy greedy bw@nkers dare try to blackmail the gov't into allowing their bonuses. It's a disgrace. I wonder how many top flight Bw@nkers are Oxbridge/Etonian educated.
Based on the state of the country I'd let RBS crash. Make an example of them.
5. crunchy said...
UK bw@nkers have been compensated for loses, yet still no UK housing crash.
Was the crash on us?
Was their a crash?
Have we payed for someone elses?
Does it matter anymore in the European sense or otherwise?
6. Tommo said...
Was their a crash? Sure don't seem like it to me.
7. crunchy said...
A UK bailout without the fringe benefits?
Merry Christmas!
8. hpwatcher said...
Based on the state of the country I'd let RBS crash. Make an example of them.
RBS should definitely have been left to collapse, and those with savings etc compensated.
9. markj69 str05 said...
Here here. I'm sure whatever portion of the £850B pumped into the system for RBS, would have compensated the savers many times over.
10. nomad said...
IMO we are at a sea change and the *ankers have yet to recognise that fact. The game's up and we must vote for politicians strong enough to curtail their gambling activities. Economies thrive on the creativity and industry of the populace and we don't require paper shufflers who, simply because they control the money, feel entitled to skim off as much as they can get away with.
11. alan said...
@ nomad,
"we must vote for politicians strong enough..." That's just the point. There aren't any.
Both sides are wary of saying they would do the best for the country in case that puts off the electorate at risk from voting for them.
I'm sure Brown & Cameron will continue that way till we go to the IMF, then they can point the finger and say "It's all the IMF's fault". NuLab have maintained over the last 18 months that there are pain free ways of recovering from the recession. It simply isn't true.
I'm waiting for them to come up with a plan for getting all the money from rich people. Now, where have I heard that before?
Wait a bit...what about all that money in pension funds? That belongs to rich people, doesn't it?
12. crunchy said...
http://www.thisismoney.co.uk/markets/article.html?in_article_id=495386&in_page_id=3
Sorry chaps, the games up, It's only billions now!
13. crunchy said...
Baggsie first in queue. : )
14. mr g said...
Crunchy @1
I re-insured my car recently, the first renewal quote from my existing insurer was asking for a 38% increase.
After I stopped laughing and had shopped around for other quotes, I went back to my current insurer and screwed them down to a 14% increase which was slightly better than the quotes I had received elsewhere although still highway robbery.
Just goes to show that the thieving barstewards still have plenty of margin on their premiums and gives the lie to all the RPI / CPI cr*p.
15. krustyatemyhamster said...
"the first renewal quote from my existing insurer was asking for a 38% increase."
Yep, that's the can't be @rsed changing insurer premium - they ask for more because they've calculated that a certain number won't be bothered to look at other insurers or ask for a discount. It happens with me every year and every year I get quotes from everyone else and usually change if the original provider doesn't offer me a discount based on the other quotes. I renewed mine a couple of weeks ago after being offered a similar increase and found a cheaper than original offer elsewhere.
16. p. doff said...
One way of finding out the 'can't be @rsed extra premium' is to get an anonymous online quote from your insurer to see what figure is on offer when they are trying to attract new business. That gives you a target to haggle to by threatening to go elsewhere. When they refer you to their 'loyalty department' you know you have won.
17. the number cruncher said...
I insure with the co-op and my increase was about 10% - they have been very good over the years and onyy about £20 more expensive than the cheapest quote and there are lots of benefits
I bank with the co-op as well and they are guilty of teaser rates on saving accounts but are otherwise excellent - brilliant telephone banking,with helping intelligent people on the phone.
Call me old fashioned but I think the co-op is great. I think the government/third sector should offer standardised financial and insurance products as a baseline for the private sector to compete. most financial services are a complete rip off and the should be bench marked against a commoditised product.
BTW My secretary used to be a manager at Churchill until Fred the shred, at RBS, took over and the changes he brought in drove her to a nervous breakdown. She is a brilliant secretary! She has many stories about what a complete w*nker he is and all the scam he put in.
18. cyril said...
@16 number cruncher.
My experience of co op bank is very poor. My wife ended up paying £80 charges for going overdrawn by a very small amount for a very short time. When I have done the same thing with Lloyds and Abbey (i.e. go over my overdaft limit), I explained the situation and they waived the charges no problem.
19. crunchy said...
13. mr g
Kill or be killed. Not only are the young being priced out of property. SHOCKING AND SHAMEFUL.