When is the next general election ?

[Rushen Spy]

4 hours ago, Neil Down said:

Why would you. To achieve anything you would have to ensure you were amongst 24 like minded candidates all working towards the same end. I’ll leave it here.

When they all come calling for your votes, produce their last manifesto and go through it with them

I will probably become an MHK in about the year 2050 just as a hobby.

[interestedman]

17 hours ago, Rushen Spy said:

What you're saying is complete bollocks of course.

In reality, Cannan has presided over very progressive, worker-friendly tax and budgetary reforms. The working class are paying less tax and receiving more in the way of spending/funding aimed at helping working families. How you think this is "anti working class" is beyond me.

Correct.  There is loads of evidence that there has been a significant shift both in common sense and more focused policy delivery since Teare and Bell.  The arguments put forward that Treasury policies have been anything less than positive for workers across the board is, as Rushen Spy says, complete bollocks.  Just on the most basic level, tax free allowances have risen from £10.5k to £14k in the last three budgets; a couple are taking home £7k more tax free which will add at least £700 a year to their income levels.

But, more importantly, there have also been aome quite significant shifts in supporting benefits for low to middle income earners including Child Benefit, EPA rates, Disability allowances etc.  These will have helped add to the increase in the tax free allowances for families in particular and compares markedly to policies under Teare and also in the UK.

I’m not saying it’s perfect but the Island is in a much better place than it was three years ago.  Actually some might argue that Cannan is being too lax as a Treasury Minister and that he will miss his fiscal targets particularly around the public sector pensions deficit, but that’s another story !

 

[CharlieBrown]

11 minutes ago, interestedman said:

 Actually some might argue that Cannan is being too lax as a Treasury Minister and that he will miss his fiscal targets particularly around the public sector pensions deficit, but that’s another story !

 

You are being way to lax Alf, the poor need a firmer kick.

[Donald Trumps]

15 hours ago, thesultanofsheight said:

You omitted the word sadly from the start of that statement. 

I did!

My apologies

[Donald Trumps]

40 minutes ago, interestedman said:

Correct.  There is loads of evidence that there has been a significant shift both in common sense and more focused policy delivery since Teare and Bell.  The arguments put forward that Treasury policies have been anything less than positive for workers across the board is, as Rushen Spy says, complete bollocks.  Just on the most basic level, tax free allowances have risen from £10.5k to £14k in the last three budgets; a couple are taking home £7k more tax free which will add at least £700 a year to their income levels.

But, more importantly, there have also been aome quite significant shifts in supporting benefits for low to middle income earners including Child Benefit, EPA rates, Disability allowances etc.  These will have helped add to the increase in the tax free allowances for families in particular and compares markedly to policies under Teare and also in the UK.

I’m not saying it’s perfect but the Island is in a much better place than it was three years ago.  Actually some might argue that Cannan is being too lax as a Treasury Minister and that he will miss his fiscal targets particularly around the public sector pensions deficit, but that’s another story !

 

 

I'd caution against working with TJ on your Chief Ministerial campaign

You're doing your own neo-Thatcherite thing in Treasury rather than working towards the popularly perceived greater good

A policy of self-interest that will surely backfire

[Neil Down]

7 hours ago, Rushen Spy said:

I will probably become an MHK in about the year 2050 just as a hobby.

You’ll be too old TJ...

[interestedman]

1 hour ago, Donald Trumps said:

 

I'd caution against working with TJ on your Chief Ministerial campaign

You're doing your own neo-Thatcherite thing in Treasury rather than working towards the popularly perceived greater good

A policy of self-interest that will surely backfire

I think your wild speculation  is the one backfiring Donald - and has been for years !!

[the stinking enigma]

2 hours ago, interestedman said:

Correct.  There is loads of evidence that there has been a significant shift both in common sense and more focused policy delivery since Teare and Bell.  The arguments put forward that Treasury policies have been anything less than positive for workers across the board is, as Rushen Spy says, complete bollocks.  Just on the most basic level, tax free allowances have risen from £10.5k to £14k in the last three budgets; a couple are taking home £7k more tax free which will add at least £700 a year to their income levels.

 

I thought that was just to ease the conception of more stealth taxes?

[woolley]

2 hours ago, interestedman said:

   Just on the most basic level, tax free allowances have risen from £10.5k to £14k in the last three budgets; a couple are taking home £7k more tax free which will add at least £700 a year to their income levels.

 

This isn't quite as generous as it seems at first sight.

For one thing it has been driven by moves in the UK that swept away our advantage. Not too long ago our tax free allowance was double that in the UK, but they caught us up and overtook us before these latest moves put us back in front. Also, it has to be remembered that while the tax free allowance has expanded, the 10% band has contracted from £10,500 in 2015-16 to £6500 now, so there is an EXTRA 10% or £400 (£800 for a couple) to pay on the £4k of taxable income between those amounts. You are hit by this if you earn £24,500, so not exactly just for big hitters! The full benefit espoused in interestedman's post is restricted to a select band earning between £14,000 and £20,500. You also cop for NI contributions on lower earnings than in the UK. Admittedly, our fully transferable tax allowance between married couples is well worth having if only one is working and on decent money.

https://www.locate.im/relocating/tax-and-ni/income-tax

Then there are all of the stealth charge rises and the abolition of the tax credit for low and non-earners. There is little advantage in tax terms for the average worker over being in the UK, and many, many financial disadvantages. For all income levels up to £50k you are just £1k better off. If you are well above the average income it's a different matter as you can see from the linked graphic. That has to be so of course because it's the USP of a low tax jurisdiction. To call it progressive though is stretching it in my view.

 

[Andy Onchan]

26 minutes ago, the stinking enigma said:

I thought that was just to ease the conception of more stealth taxes?

The Peter/Paul effect.

[Donald Trumps]

47 minutes ago, interestedman said:

I think your wild speculation  is the one backfiring Donald - and has been for years !!

 

TJ is yer man for wild speculation

Bonkers even

[woolley]

46 minutes ago, the stinking enigma said:

I thought that was just to ease the conception of more stealth taxes?

Sadly not. It's worse that that. See my post above.

[Non-Believer]

1 hour ago, the stinking enigma said:

I thought that was just to ease the conception of more stealth taxes?

With plenty more doubtless in the pipeline now they've got the Environmental Emergency angle to exploit. How convenient.

[Donald Trumps]

10 hours ago, Rushen Spy said:

I will probably become an MHK in about the year 2050 just as a hobby.

Will this be when the bottom has fallen out of the nut milk market?

[Donald Trumps]

31 minutes ago, Non-Believer said:

With plenty more doubtless in the pipeline now they've got the Environmental Emergency angle to exploit. How convenient.

 

Oh yes

The three-legged down hill cow project re-engineered for climate change anxiety