RE: Rishi Sunak’s plan to slash taxes04 Dec 2021 09:08
SC I think you are right. They would have to try and disguise the "take with the other" element from the electorate to give the impression that they would be gaining or better of without realising they wont. Can't see how they would get away with that and fool the electorate?
Rishi Sunak’s plan to slash taxes04 Dec 2021 08:23
Article in the Times today. I have copied/pasted as much as the article I could access, I could not access the full article without subscription.
"Income tax could be cut by 2p as Tories also consider VAT reduction before general election. Rishi Sunak is preparing to cut income tax by 2p in the pound or to slash VAT rates before the next election, The Times has learnt. The chancellor has told officials to draw up detailed plans to reduce the tax burden, with a third option to cut inheritance tax also under consideration. Under the proposals: the 45p higher rate of income tax could be scrapped ? basic rate payers would be up to £750 better off each year ? VAT on green energy could be reduced Sunak’s preference is said to be an income tax cut over the next three years as part of a “retail” offer before 2024, when the next general election is expected."
I remember some years ago watching on ITV "an audience with Billy Connolly". It was brilliant. On politicians he said "the desire to be a politician should bar a person from life from ever being one" and "don't vote, it only encourages them!"
lti "never realised you had placed bets on a move in interest rates, so how could I be telling you?" So where have I said that I placed bets on a move in interest rates? I have said no such thing. But lets just analyse your comment a bit further......"so how could I be telling you?" Your post at 12:33 today! "hu How stupid to position your bets on hints from 1 or 2 MPC members." My understanding of English is that you were telling me.
lti Yes there are 9 members with independent thought. The markets still positioned themselves before the November meeting on comments from 1 individual, any reason they would not do so this time? Maybe because they got caught out last time?
Well the MPC threw the markets a curved ball before the November meeting hinting rates would rise. If some of the MPC now hinting no rise for December will markets position themselves accordingly on this given they were caught out last time?
November meeting the excuse for not raising rates was wait for employment data. December meeting looks like the excuse is going to be wait for Omicron data. They seem to be focusing totally on reasons not to raise rates rather than reasons to raise rates. I think spring/summer 2022 earliest?