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Donald Trumps

No Plan For The Economy

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Interesting Manx Radio comment from Department of Enterprise member Lawrie Hooper: "Government doesn't direct the economy, it is market forces"

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That is true to a certain extent but governments tend to control market forces! It is up to them to create the environment for business to thrive, creating jobs and driving the economy!

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12 minutes ago, Donald Trumps said:

Interesting Manx Radio comment from Department of Enterprise member Lawrie Hooper: "Government doesn't direct the economy, it is market forces"

He's right... the exception of course is when IOMG intervene, which they do frequently.

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Posted (edited)

Presumably the CoMin position is that they 'facilitate' the economy rather than direct it

But does it mean they don't undertake any form of economic planning?

Edited by Donald Trumps

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Posted (edited)

Perhaps if they've got the VAT share back up they don't think that the economy matters?

ETA. Because as long as the Government trough was being bountifully refilled, enabling snouts to be immersed, none of them would give a shit IMO.

Edited by Non-Believer
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34 minutes ago, Andy Onchan said:

He's right... the exception of course is when IOMG intervene, which they do frequently.

Their only plan is to meddle in things, generally stopping people from doing things, then trying to do some of the same things themselves to make it look like they have ideas and that they’re doing something, and then failing massively at doing those things. 

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I’m increasingly of the opinion that there is a plan, but it was shoved in a drawer pretty much in the day it was nodded through the House.

Vision 2020 a case in point

 

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20 minutes ago, Derek Flint said:

I’m increasingly of the opinion that there is a plan, but it was shoved in a drawer pretty much in the day it was nodded through the House.

Vision 2020 a case in point

 

You're always the optomist Derek!

I don't think there is one,  ours being a laissez-faire economy

There will have to be one for the next administration tho' - green economies don't grow themselves

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Forget vat. BREXIT will / should see an end to that. Instead purchase tax will return. At least that's my bet.

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Posted (edited)

What is the advantage of dropping VAT for a Purchase Tax?

Edited by Donald Trumps

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23 minutes ago, Donald Trumps said:

What is the advantage of dropping VAT for a Purchase Tax?

Better focusing on products and reduced cost of processing the payment and rebate system.  In addition flexibility to remove ranges from vat, something that can not now happen under the EU Jackboot. 

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The Govt do have a hand in the economy through their thousands of employees. Capital works schemes, Income Tax level, 0 corp tax, VAT refunds! Start up capital.

Even MHKs salaries can have an effect as long as they're not all saving 30k a year!

 

Purchase Tax would give our Govt flexibility.............but would you trust them to use that wisely?

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Posted (edited)
3 hours ago, Donald Trumps said:

Interesting Manx Radio comment from Department of Enterprise member Lawrie Hooper: "Government doesn't direct the economy, it is market forces"

Why should we expect or want a "plan" for the economy? The best thing the Government can do is get out of the way. Actually, that's kind of a good plan.

Edited by Rushen Spy

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Yeahhh! Anarchy .   What do we want..................

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15 minutes ago, Kopek said:

Purchase Tax would give our Govt flexibility.............but would you trust them to use that wisely?

The past records don't bode well. It'd be like giving the trough to the pigs to run.

The CS would continue to run amok and Purchase Tax, even if it was originally set at realistic levels, would be relentlessly hiked to accommodate not only their expansion but also our politician's endless CS-led expensive visions.

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