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Tuesday: The Budget That Finishes Off The Economy

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Details of the CGT increase: Allowance dropped to £2k, flat rate of 40% in gains thereafter. FTSE is going to take a 10% drop on the back of this, and the results in the wider economy are going to be devastating.Seems the coalition will finish the job the Labour government started. Anyone with significant wealth still in the UK economy needs to get out as they'll are determined to have it all.

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Details of the CGT increase: Allowance dropped to £2k, flat rate of 40% in gains thereafter. FTSE is going to take a 10% drop on the back of this, and the results in the wider economy are going to be devastating.Seems the coalition will finish the job the Labour government started. Anyone with significant wealth still in the UK economy needs to get out as they'll are determined to have it all.

Reminiscent of CGNAO.

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"details" from where/who?

My accountancy firm. They have advised all of their clients to move all business interests outside of the UK tax jurisdiction where possible.

Edited by Boom Boom

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Guest Noodle

The economy was already finished back in 2000.

This is the moment Wile E Coyote looks down.

coyote.jpg

Very good. Gold star.

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My accountancy firm. They have advised all of their clients to move all business interests outside of the UK tax jurisdiction where possible.

This is a new take on the Tory promise of making sure that the pain is evenly spread.

Apparently the rich can avoid pain.

The rest of us will pay and suffer the cuts.

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This is a new take on the Tory promise of making sure that the pain is evenly spread.

Apparently the rich can avoid pain.

The rest of us will pay and suffer the cuts.

The rich always avoid the pain, the losses are socialised for those on the smaller incomes to pick up the tab.

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Going from 18% to 40% is only 22% not 100%.

Once people realise that beating to death their own children with wodges of cash borrowed at 5% isn't a good idea, the better off we all shall be.

If Richard Branson was starting off in 2007 he would be another 'Wilson'. Where are the business people of the future going to come from if the easiest way to make money is to buy property and sit on it?

If you have to leave, make sure you pay your tax on the way out. Ta.

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Details of the CGT increase: Allowance dropped to £2k, flat rate of 40% in gains thereafter. FTSE is going to take a 10% drop on the back of this, and the results in the wider economy are going to be devastating.Seems the coalition will finish the job the Labour government started. Anyone with significant wealth still in the UK economy needs to get out as they'll are determined to have it all.

Boom Boom old chap.

You're clearly sh!tting yourself over this (I hope) increase in CGT.

You have started several threads on it, and posted your unevidenced and unargued (except for some VI sh!t from the nutter Adam Smith Institute, which most of us are ignoring for the claptrap it is,) on numerous other threads on the subject.

So come on. In the interests of transparency, state your vested interest, or please STFU. You don't appear to have much to say on the subject, except "I don't want it (for some hitherto unspecified reason) so I'm going to say it's a bad idea across the board..."

For others who have lived under a rock the last couple of weeks, please see Boom Boom's posting record at the link below. Enough data points to indicate a trend, I'd say...

http://www.housepric...posts&mid=24115

B

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Details of the CGT increase: Allowance dropped to £2k, flat rate of 40% in gains thereafter. FTSE is going to take a 10% drop on the back of this, and the results in the wider economy are going to be devastating.Seems the coalition will finish the job the Labour government started. Anyone with significant wealth still in the UK economy needs to get out as they'll are determined to have it all.

Wasn't CGT 40% just a few years ago when it was dropped to 18% so aren't we just back to where we started?

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Going from 18% to 40% is only 22% not 100%.

Once people realise that beating to death their own children with wodges of cash borrowed at 5% isn't a good idea, the better off we all shall be.

If Richard Branson was starting off in 2007 he would be another 'Wilson'. Where are the business people of the future going to come from if the easiest way to make money is to buy property and sit on it?

If you have to leave, make sure you pay your tax on the way out. Ta.

Agreed. Profit has to be made and we must get back to being a more industrial nation. Maybe this kind of shock will be a push in the right direction for some people and a kick up the backside for some others.

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Details of the CGT increase: Allowance dropped to £2k, flat rate of 40% in gains thereafter. FTSE is going to take a 10% drop on the back of this, and the results in the wider economy are going to be devastating.Seems the coalition will finish the job the Labour government started. Anyone with significant wealth still in the UK economy needs to get out as they'll are determined to have it all.

I'm sure the market has factored most of this in already, the CGT changes have been widely trailed.

When Little Georgie rises tomorrow and announces Disability Living Allowance and War Pensions are going to be cut in real terms, Ian Duncan Smith and his hard working families trying to sell their holiday cottage in Devon are not going to get a look in.

The danger will be that having royally peed off both the right and left, he will face the serious prospect of being voted down in the house, leading to the political chaos markets have been fearing. There is a further danger that in trying for purely political reasons to get all of the cuts out of the way at once, they will indeed cut too far and deep and send the economy into a death spiral.

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The future of this country, probably the world is communism. Take a look at Channel 4 now and weep. We are fast approaching the point where it's no longer worth working. Wouldn't surprise me if Osborne and his banking pals organised this programme and are rigging the results.

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Wasn't CGT 40% just a few years ago when it was dropped to 18% so aren't we just back to where we started?

hmm, not quite, as there were various caveats, taper reliefs and bands which depended on exactly where the stock was listed (eg AIM or main board). There does not appear to be much talk about the re-installation of any of that.

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Guest Noodle

The future of this country, probably the world is communism. Take a look at Channel 4 now and weep. We are fast approaching the point where it's no longer worth working. Wouldn't surprise me if Osborne and his banking pals organised this programme and are rigging the results.

An overrated experience.

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Guest Noodle

It seems millions of people in this country agree with you.

The scrapheap is the scrapheap. Nowt I, or the other millions can do about it. However a modest, hand to mouth income would suffice. Not had any now for two years. Not one penny.

Injin's probably right. It now has to collapse before it can start again.

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Details of the CGT increase: Allowance dropped to £2k, flat rate of 40% in gains thereafter. FTSE is going to take a 10% drop on the back of this, and the results in the wider economy are going to be devastating.Seems the coalition will finish the job the Labour government started. Anyone with significant wealth still in the UK economy needs to get out as they'll are determined to have it all.

Get to bed child. NOW.

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Try this

wile.jpg

:lol::lol:

cgnao would be proud!

Fair play to George though, he's not afraid the do the right thing even if it makes him unpopular.. the makings of a great chancellor IMHO.

Unlike Gordon who will do the right thing... as long as he thinks it will make people like him :rolleyes:

As for this rubbish about it affecting the poor disproportionately.. utter garbage. Changing CGT legislation is not going to hit the poor.. it will effect the rich and middle class.

The cuts to the public sector will hit the poor disproportionately, granted, but unfortunately that wasn't gong to be avoided anyway.

I get the feeling a couple of champagne socialists on this board finally discovered they are not going to be able to have their cake and eat it. Be grateful you have made enough capital gains to feel a little pain. Many people aren't so fortunate. If you have made plenty of (essentially) free money off the back of the credit boom, suck it up and give a little back. Mr Joe public was good enough to bail out your assets after all!

Edited by libspero

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The future of this country, probably the world is communism. Take a look at Channel 4 now and weep. We are fast approaching the point where it's no longer worth working. Wouldn't surprise me if Osborne and his banking pals organised this programme and are rigging the results.

The way to unambiguously beat communism is to stop lying to fill your pockets with wealth created by others

This is an unacceptable leap in the dark for a lot of vested interests

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  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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