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ralphmalph

Faisal Islam Tweeting About The Detail Of The Cuts

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http://twitter.com/faisalislam

Seems that all of the Infrastructure spending is to stay funded crossrail, diamond synchotron, railways, etc - good for jobs.

The cuts are all going to be on wlefare hand outs with tax credits getting cut, CB only to 16 not 18, etc.

The social housing funding being cut would be of interest here.

So seems like more sensible decisions from the Coalition keep big infrastructure that adds to the wealth of the nation and cut money that is used to buy tat and Nike stuff made in China and other sweatshops.

Edit: more detail on his blog (if true)

http://blogs.channel4.com/faisal-islam-on-economics/spending-cuts-target-child-benefits-tax-credits-and-social-housing/13313

Edited by ralphmalph

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He is very speculative and sensationalist on his Twitter. Don't read too much into this.

A lot of tory blogs are reporting that infrastruture spending will be protected. Also to this lot you can add in Chris Huhnes energy infrastructure upgrade plan that will cost 300 billion form every house hold in the nation (via bills) and not 1p from the tax payer.

300 billion over 5 years is 60 billion a year diverted from consumer spending to business investment when the governement is cutting what 20bill a year.

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If he is even partially correct though, this seems like an all out attack on welfare and benefits...

http://blogs.channel4.com/faisal-islam-on-economics/spending-cuts-target-child-benefits-tax-credits-and-social-housing/13313

Welfare, child tax credits, child benefits, social housing (bad for HPC).

"Social landlords put in 60 per cent (to the taxpayers 40 per cent) of the funding for almost half (50,000) of the 113,000 homes built in the UK last year. Insiders suggest that will fall to hundreds."

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So seems like more sensible decisions from the Coalition keep big infrastructure that adds to the wealth of the nation and cut money that is used to buy tat and Nike stuff made in China and other sweatshops.

Yes, sounds like a sensible principle...

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how about Care Homes for elderly and people with light mental disorder? It seems like they getting paid quite well from tax payer many. Do you think they will get hit by the cuts?:unsure:

Edited by LittleSteroid

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Cutting child tax allowance saves upto £1bn.

We need to save £83bn just to balance the budget, never mind pay the debts.

The cuts and tax rises need to be immense.

The only place to increase tax would be a land tax... we have passed the peak on the laffer curve, any other tax increases would not increase the tax take.

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The only place to increase tax would be a land tax... we have passed the peak on the laffer curve, any other tax increases would not increase the tax take.

I dunno. Even I'll admit this seems to be hitting the poor disproportionately hard.

Would middle classes really be squealing that hard at an extra 1p or 2p in the pound on income tax?

I'd be fine with that and I'm sure that would make a dent.

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If he is even partially correct though, this seems like an all out attack on welfare and benefits...

http://blogs.channel4.com/faisal-islam-on-economics/spending-cuts-target-child-benefits-tax-credits-and-social-housing/13313

Welfare, child tax credits, child benefits, social housing (bad for HPC).

"Social landlords put in 60 per cent (to the taxpayers 40 per cent) of the funding for almost half (50,000) of the 113,000 homes built in the UK last year. Insiders suggest that will fall to hundreds."

Umm. Is not social house building infrastructure expenditure and does not it create jobs in the construction industry ?.

The plan is crazy, particularly the ring fencing of the NHS.

The rationale seems to be to make people poor and homeless then give them a hospital bed when they ineviitably fall ill.

I would love to see the model the Treasury are using to prioritise their cuts. If it is like any of their other predictive tools it will be a pile of crap.

Edited by realcrookswearsuits

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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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