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sarahbell

Labour manifesto

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http://www.telegraph.co.uk/news/0/at-a-glance-key-points-leaked-labour-manifesto/
 

Taxation

  • Hitting 1.2m people earning over £80,000 with rises in income tax.
  • Bringing the threshold for the 45p rate of income tax down from £150,000 to £80,000.
  • A new 50p tax will hit all those earning over £123,000.

  • Raising £19.4billion by raising corporation tax 26 per cent - a rise of more than a third.

  • Extra powers for HMRC to chase individuals and companies who avoid tax.

Immigration

  • No commitment to reduce numbers. 

  • Labour "believes in fair rules and reasonable management of migration" and will not resort to "bogus" immigration targets.

  • Scrap income thresholds for spouses of migrants who want to come to the UK
  • Creation of a Migrant Impact Fund to support public services in host communities. It will be funded by visa levies and a contributory element from residence visas for high net worth individuals.

Brexit

  • Labour "accepts the referendum result" and intends to build a close new relationship with Europe "not as members but as partners".
  • Retain benefits of single market and customs union.
  • Immediately guarantee existing rights of EU nationals living in Britain and secure reciprocal rights for UK citizens living in another EU country.
  • No "no deal" option at the end of Article 50 negotiations, with "transitional arrangements" negotiated instead to avoid cliff-edge.
  • Scrap Great Repeal Bill and replace with EU Rights and Protections Bill.

Rail

  • Railways brought back into public ownership as franchises expire.
  • Under public ownership fares will be capped and free WiFi introduced across the network.
  • HS2 will be completed and will link with a "Crossrail of the North".

Energy

  • Energy market partially brought back into public ownership.
  • Creation of at least one publicly owned energy company in every region of the UK.
  • Central government control of the grid and distribution.
  • Cap average household dual fuel bills at £1,000 a year.
  • Ban fracking.

Higher education

  • Tuition fees abolished and maintenance grants reintroduced for university students.

Health

  • More than £30billion of extra funding for the NHS through increased income tax for top 5 per cent earners, increased tax on private medical insurance and halving management consultants' fees.
  • Pay cap scrapped.
  • EU NHS workers' rights immediately protected.
  • NHS Sustainability and Transformation Plans halted.

Care

  • Move towards creation of a National Care Service.
  • Investment of £8 billion in services over the next parliament, including £1 billion in the first year.
  • Improve conditions for care workers.
  • 15-minute care visits scrapped.
  • Carer's Allowance increased to be in line with Jobseeker's Allowance.

Workers' rights

  • Creation of a Ministry of Labour to deliver investment in enforcing workers' rights.
  • Repeal Trade Union Act and introduce "sectoral collective bargaining" through unions.
  • Zero hours contracts outlawed.
  • Unpaid internships banned.
  • Employers stopped from only recruiting from overseas.
  • Bring minimum wage in line with living wage - at least £10 by 2020.
  • Rights for all workers to have access to trade union.
  • Paternity leave doubled to four weeks and paternity pay increased.
  • Protections for women on maternity leave strengthened.
  • Four new public holidays to mark patron saints' days.
  • Public inquiry into blacklisting.

Executive pay

  • A 20:1 limit on gap between the lowest and highest paid workers in companies given Government contracts.
  • Reduce pay inequality through legislation by introducing an "excessive pay levy" on companies with high numbers of staff on high pay.

Pensioners

  • "Triple lock" guaranteed throughout next parliament or kept to at least 2.5 per cent.
  • Winter fuel allowance and free bus passes kept as universal benefits.
  • Compensation for women born in 50s who had state pension age changed without fair notification.

Housing

  • Invest to build one million new homes, including 100,000 council and housing association homes by the end of next parliament.
  • Rent rises capped to inflation and legal minimum standards in properties for rent.
  • 4,000 homes for people with history of rough sleeping.

Welfare

  • Scrap bedroom tax and reinstate housing benefit for under-21s.
  • Review cuts to Universal Credit and limits on payments to first two children of families.
  • Jeremy Corbyn has also pledged to end the benefits freeze - although it's not in the manifesto.

Infrastructure

  • Borrow to invest £250 billion over 10 years on energy, transport and digital infrastructure.
  • Improve 4G mobile coverage and invest to bring uninterrupted 5G to all urban areas, major roads and railways.

Democracy

  • Lower voting age to 16.

Defence

  • Support the renewal of Trident.
  • Keep defence spending as 2% of GDP.

Crime

  • 10,000 more police officers for community beats.
  • Conduct major review of counter-terror Prevent programme.

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  • Raising £19.4billion by raising corporation tax 26 per cent - a rise of more than a third.

 

This will help destroy UK companies, multi-nationals can harbour their profits wherever they want and avoid it with little or no pushback from either government or HMRC.

If we want more tax take we need more UK companies, domiciled here, profits made here, profits booked here, simples that if there is no will to force proper alignment of tax affairs of the multi-nationals..

 

 

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18 minutes ago, onlyme said:
  • Raising £19.4billion by raising corporation tax 26 per cent - a rise of more than a third.


 

This will help destroy UK companies, multi-nationals can harbour their profits wherever they want and avoid it with little or no pushback from either government or HMRC.

If we want more tax take we need more UK companies, domiciled here, profits made here, profits booked here, simples that if there is no will to force proper alignment of tax affairs of the multi-nationals..


 


 

Yes. Just think.

Take an average bod running a company, making maybe £50k per year after corporation tax - £60k before tax.

The standard route would be to take £10k as salary and £40k as dividends.

Conservatives last year added a 7.5% dividend tax, with a 2k tax free amount. So an additional tax to be paid of £3,000. Most people took this on the chin as there was clearly an advantage to taking dividends.

There £60k profit has now been taxed at £10k corporation tax and £3k dividend tax. So £13k as opposed to £12,700 tax under paye.

Now, with a rise in corporation tax, the tax bill will be £15,6000 + £3,000. Or £18,600 in total.

This means that since 2015, their tax bill has risen from £10,000 to £18,600.

And this is meant to support small businesses? I don't see how.


 

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Spekaing as a blue collary Labour type, theres not much in the way of corp tax that the UK can solve, unilaterally.

There's the like of Costa and Starbucks, but thats down to transfer pricing i.e. international.

And sums involved are really not hat big.

Amazon does not make much in a profit - consumers are being gifter cheap stuff by the all knowing cahrity of Amazon's equity holders.

I know Im stating the obvious but the UKs tax problems is too many working age people not generating tax, i.e sucking down public money via tax credits, DLA. Thats where all the missing biillions for the NHS are FFS.

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Why are Labour not as unpopular as they should be?

Browns attempt to get everyone either working for the government or on benefits.

WHy are Gilts not reacting? Coz the BoE beat amrket pricing out of them with QE.

Oh dear.

What will happen is that gilts will not shoot up, external people will stop buying them.

That financial repression which started by 'enouraging' large banks + Insurance compnaies to buy gilts will have to be extended so that all money is used to buy UKGOV debt. Then melt down pots and pan for them.

QE was a step to far. Trashed the UK.

 

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1 hour ago, Cunning Plan said:

Yes. Just think.

Take an average bod running a company, making maybe £50k per year after corporation tax - £60k before tax.

The standard route would be to take £10k as salary and £40k as dividends.

Conservatives last year added a 7.5% dividend tax, with a 2k tax free amount. So an additional tax to be paid of £3,000. Most people took this on the chin as there was clearly an advantage to taking dividends.

There £60k profit has now been taxed at £10k corporation tax and £3k dividend tax. So £13k as opposed to £12,700 tax under paye.

Now, with a rise in corporation tax, the tax bill will be £15,6000 + £3,000. Or £18,600 in total.

This means that since 2015, their tax bill has risen from £10,000 to £18,600.

And this is meant to support small businesses? I don't see how.



 

To add to this, say you have a couple of staff in your theoretical cake shop doing 35 hours a week each on minimum wage (because let's face it, that is now THE wage for unskilled work)

Min wage going up by £3.10 per hour. That's another £11,284 you've got to find!

Bloody hell.

This will kill business.

It's not wages that are the problem. It's the cost of living.
 

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8 minutes ago, Cunning Plan said:

To add to this, say you have a couple of staff in your theoretical cake shop doing 35 hours a week each on minimum wage (because let's face it, that is now THE wage for unskilled work)

Min wage going up by £3.10 per hour. That's another £11,284 you've got to find!

Bloody hell.

This will kill business.

It's not wages that are the problem. It's the cost of living.
 

Disagree.  The cost of most things has fallen, this is even with the regressive VAT tax being incrementally increased to 20 percent.  Two things need to happen.  First, we all have to pay more for our tat.  Second, remove VAT and instantly there is 20 percent more money floating round to be shared amongst the productive.  The government will then have to find alternate revenue streams, but they need to do this anyhow to balance the books,

 

 

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There doesn't seem to be any specific measures in that list to rein in banks or to encourage other sectors of the economy for example science and engineering - not that anything pro science and engineering would be believable but a mention might have been a positive thing.  Nothing about rebalancing the economy.  Nothing about reining in lending on houses.  I doubt Corbyn is looking forward to a future banking job but who knows.

Edited by twocents

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11 minutes ago, Cunning Plan said:

To add to this, say you have a couple of staff in your theoretical cake shop doing 35 hours a week each on minimum wage (because let's face it, that is now THE wage for unskilled work)

Min wage going up by £3.10 per hour. That's another £11,284 you've got to find!

Bloody hell.

This will kill business.

It's not wages that are the problem. It's the cost of living.
 

More likely scenario is you get your hours reduced, seen plenty of people on minimum wage say this. 

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2 minutes ago, One percent said:

Disagree.  The cost of most things has fallen, this is even with the regressive VAT tax being incrementally increased to 20 percent.  Two things need to happen.  First, we all have to pay more for our tat.  Second, remove VAT and instantly there is 20 percent more money floating round to be shared amongst the productive.  The government will then have to find alternate revenue streams, but they need to do this anyhow to balance the books,


 


 

I would disagree with you on VAT. I pay almost no vat. Remove it on domestic fuel as soon as we can, and maybe even remove it from petrol but on everything else it needs to stay.

It is a tax on luxury and consumption. If we got it back to that it makes sense.
 

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42 minutes ago, Cunning Plan said:

To add to this, say you have a couple of staff in your theoretical cake shop doing 35 hours a week each on minimum wage (because let's face it, that is now THE wage for unskilled work)

Min wage going up by £3.10 per hour. That's another £11,284 you've got to find!

Bloody hell.

This will kill business.

It's not wages that are the problem. It's the cost of living.
 

Also at the same time there would be a lot of inflation as a result - whether reported or not.

Cannot believe there are not many 10,000's of small business owners with high outgoings who are making good whilst they can but with an eye on the next downturn ready to pull the ripchord. 

 

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25 minutes ago, Cunning Plan said:

I would disagree with you on VAT. I pay almost no vat. Remove it on domestic fuel as soon as we can, and maybe even remove it from petrol but on everything else it needs to stay.

It is a tax on luxury and consumption. If we got it back to that it makes sense.
 

I seem to pay it on everything cunning.  how do you manage that?  

It's not a tax on luxury and consumption anymore. Tampax?  I bought a new laptop.  I don't need one for myself, but it is essential for me to do my job.  Barsteward tightwads at work will not supply one so I have had to buy it.  20 percent tax that I cannot claim back.  

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4 minutes ago, One percent said:

I seem to pay it on everything cunning.  how do you manage that?

It's not a tax on luxury and consumption anymore. Tampax?  I bought a new laptop.  I don't need one for myself, but it is essential for me to do my job.  Barsteward tightwads at work will not supply one so I have had to buy it.  20 percent tax that I cannot claim back.

Totally agree regarding the tampon tax (and the condom one for that matter) There needs to be a review of what is essential, but we can only do this once out of Europe.

I pay very little vat because I buy bugger all that is unneccesary.


 

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Just now, Cunning Plan said:

Totally agree regarding the tampon tax (and the condom one for that matter) There needs to be a review of what is essential, but we can only do this once out of Europe.

I pay very little vat because I buy bugger all that is unneccesary.


 

Fair dooes, I spend far more than I should  xD

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How's the dual fuel bill cap going to work then? Who decided what an average house is? And do we really think that he government having a piece of the pie in energy/rail/whatever will actually make the market more efficient??

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Everybody gets a box of chocolates and a long stem rose.

BTW my Dad paid 75%  tax on some of his earned income under Ted Heaths government in the 1970s so Mr Corbyn is not really trying.

Edited by Flirtygirty

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More candy on offer

Corbyn floats prospect of Labour writing off some historic student tuition fee debts

The Labour party is committed to abolishing university tuition fees, with the policy coming into effect from 2018, but students who are starting courses in September this year also benefiting. 

But what about students and former students already saddled with debt? In his interview with the NME, Jeremy Corbyn floated the prospect of Labour being able to do something to help them too. AsPoliticsHome reports, when asked if he could remove the £30bn backlog of debt built up since tuition fees were raised to £9,000, he replied:

Yes, there is a block of those that currently have a massive debt, and I’m looking at ways we could reduce that, ameliorate that, lengthen the period of paying it off, or some other means of reducing the debt burden.

I don’t have the simple answer for it at this stage. I don’t think anybody would expect me to, because this election was called unexpectedly.

We had two weeks to prepare all of this – but I’m very well aware of that problem.

And I don’t see why those that had the historical misfortune to be at university during the £9,000 period should be burdened excessively compared to those that went before or those that come after. I will deal with it.

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What about the National debt?


Could he get rid of that so future generations are not burdened by the interest payments?

Will Jezza look to tax the wealthy - all those homeowners in London + SE not paying their share of unearned gains.

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