Labour manifesto
Obadiah Hakeswill 21 Nov 19 12:10
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All seems pretty sensible actually. Am tempted to vote for them rather than the Lib Dems.

 

Nationalise rail, mail, water and energy 

Windfall tax on oil firms

Green Transformation Fund

Scrap the planned rise in the pension age 

Introduce a financial transaction tax, an excessive pay levy and a second homes tax

Scrap higher education tuition fees

Reverse inheritance tax cuts and imposing VAT on private school fees

Give EU nationals living in UK the automatic right to stay

You missed the best bit, they want to end the ability to opt out of the EU working time directive. 

9-5 here I come baby

Also:

10 days paid leave for victims of domestic abuse (although I find it odd this is under the heading 'women' in the manifesto)

Inflation capped rents

End hereditary element of house of lords

Suspend of sale of arms to Saudi

Scrap 2014 immigration act

 

 

Nationalise rail, mail, water and energy 

Massively expensive, potentially impossible to carry out in any event, and certainly impossible to carry out as a member of the EU.

Windfall tax on oil firms

Don't have a problem with this.

Green Transformation Fund

Likely to result in massive wastage as money thrown at bad projects.

Scrap the planned rise in the pension age 

Fiscally incredibly irresponsible and will hasten the collapse of the welfare state

Introduce a financial transaction tax, an excessive pay levy and a second homes tax

Don't have a problem with this.

Scrap higher education tuition fees

Will prove very expensive, and will create significant unfairness for the cohort who are currently holding student loans and making repayments, and who will have to pay higher taxes in addition.

Reverse inheritance tax cuts and imposing VAT on private school fees

Don't have a problem with the former. Do have a problem with the latter. Every pupil in private school is a pupil not taking up a state school place for which the parents of that child have paid. Some private schools cater exclusively for children with special educational needs, and many mainstream private schools also cater for special educational needs children within the main school - that being one of the reasons that parents choose to pay for private education. Taxing special needs education seems a bit mean. Increasing the cost of private education through tax will result in fewer children in private education, thus increasing demand on state school places, and will result in the tax raising less money than anticipated.

Give EU nationals living in UK the automatic right to stay

Don't have a problem with his.

Interesting that you have to scroll a looooooong way down to find the Brexit bit given that this is apparently the 'Brexit Election'

Likely to result in massive wastage as money thrown at bad projects.

Welcome to the concept of a government. 

create significant unfairness for the cohort who are currently holding student loans

Cry me a river. (And changes to policy always causes some form of unfairness to a certain sector of society.)

Taxing special needs education seems a bit mean.

Happy to exempt the kids with special needs.

Increasing the cost of private education through tax will result in fewer children in private education, thus increasing demand on state school places, and will result in the tax raising less money than anticipated

No it won't. 

Increasing the cost of private education through tax will result in fewer children in private education, thus increasing demand on state school places, and will result in the tax raising less money than anticipated

No it won't. 

What, because price doesn't impact demand? Because tax rises don't affect behaviour? Also, even if you were right, which you are not, that increasing tax on private school fees would not affect behaviour the extra £1.5 billion in VAT on private school fees would have to come from somewhere (presumably discretionary spending and saving rates). Assume a 2/3 1/3 split in favour of discretionary spending and that is £1 billion a year in lost consumer spending (i.e. jobs, VAT, income tax, corporation tax on profits)

Interesting comment from the IFS:

The top 5% of income tax payers contribute half of all income tax revenues today, up from 43% just before the financial crisis. Labour’s proposal would be the latest in a series of income tax increases for high-income individuals implemented in the last decade, including the introduction of the additional rate (now 45p), the withdrawal of the personal allowance, cuts in income tax relief for private pension contributions and real-terms reductions in the higher-rate threshold.

So Labour is asking the top 5% to pay "a bit more" to address inequality, but they already pay a lot more than 10 years ago, when the previous government was....Labour.

And if Labour's policies were implemented, then the top 5% would be paying more than half of all income tax. Which doesn't really seem particularly fair.

and certainly impossible to carry out as a member of the EU

Then how do other EU countries manage to have nationalised rail systems?

It is ridiculous, to be in the 95th Percentile in 2016/17 you needed to be earning only £75,300 per year before tax.

The 99th percentile is was £166,000. 

That is a huge gap. Someone on £75K is not well off by any possible measure, especially in the South East. £166,00 means someone is doing well where ever they are.

We already have a threshold for higher income tax at £150,000 which is sufficient.

Private schools will become the preserve of overseas students who come for an education then go home and use that education to enrich their own countries.  

Erm I'm earn about that and live in the south east and I'm pretty well off to be honest but I don't have any dependents.

The Green Investment Bank has been fairly successful (in particular in relation to offshore wind), so I don't see why a green transformation fund would be a waste of money. Hotblack, what's your reasoning?

Have they said what they plan to do with the likes of Rachel Riley and Tracy Ann Oberman?

What, because price doesn't impact demand? 

Have you just cited, as some kind of evidence, one half of economic equilibrium theory? 

VAT is whacked on top and some parents can't afford the school place. So the schools have fewer kids. But then the schools would rather have 60 kids paying 16k plus VAT than 40 kids paying 20k ex VAT so the prices come down to the market level. 

However, that is all subject to the very good point made by sails, that the schools would just fill the places with overseas students. (See you were right - for the wrong reasons.) So, we also need a rule: no forrigns. 

Obadiah private schools don't work that way.  Since my time the fees have tripled which is largely the parents who can afford stupid fees demanding ever more facilities and schools being unable to raise the capital outlay through tapping up the old boys as they used to it when it was a case of buying a new piano for the music school and re-roofing the gym.  As long as someone is paying they'll just keep cranking up the fees.

Excellent. Then adding VAT is fine (alongside the new 'no forrigns' rule).

if the worst thing to happen to private schools under a corbyn government is making fees vatable then they will have escaped very lightly

Hotblack Desiato21 Nov 19 12:26

Nationalise rail, mail, water and energy 

Massively expensive, potentially impossible to carry out in any event, and certainly impossible to carry out as a member of the EU.

___________________________________________________________________________

Is it though

for mail it's really just a take over of Royal Mail Plc by issuing government bonds instead of corp bonds

is not against EU law for a state to own a sector or to part own a sector 

so at best this is knee jerk conservative economic illiteracy 

Lady Penelope21 Nov 19 13:23

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and certainly impossible to carry out as a member of the EU

Then how do other EU countries manage to have nationalised rail systems?

Its because the EU has signed investor-state deals with other countries, that prevents shareholdings held by private or institutional investors in certain businesses from being nationalised. Happy to help.

Which apparently is the problem with BT. 66% of the shares in Plc are owned by forrins from countries with whom the EU has signed treaties preventing us from nationalising their shareholdings.

Wow he has really gone full Corbyn with this. 

Rarely anything significant in manifestos on employment law, but it’s like he has locked Len McCluskey in a room with a pen and paper, 12 litres of Red Bull and a mountain of speed.

Huge minimum wage hike overnight, particularly for younger workers. I do some work for a woman who runs a successful and well-established chain of nurseries built up painstakingly over two decades - the hike in staffing costs will make the business non-viable given the margins they work on. 

The stuff about a 4-day working week is hare-brained

Full employment rights from day 1 - can’t see any problems with that.

The guy was tweeting his support of the campaign for McDonalds workers to be paid at least £15/hour each, seemingly oblivious to the basic concept that the restaurants are franchised by people who don’t make £300bn profit a year but would bear the cost of this. 

This looks pretty good, to be fair to them.

“Which apparently is the problem with BT. 66% of the shares in Plc are owned by forrins from countries with whom the EU has signed treaties preventing us from nationalising their shareholdings”

Nobody cares. We’ll just do what the rest of the EU do and ignore the rules. HTH

if you have full employment rights form day one, I think you will get an increase of people hiring friends or people they have worked with before. safer bets

I found one good thing in the labour manifesto.

they will repeal the fixed term parliaments act

that would be good diceman

get the unemployed off the public ticket, make it the private sector’s problem to find something for them to do, now that it finds itself employing them.

employment rates at record high with the Conservatives apnhb. don't wreck it

Nationalise rail, mail, water and energy 

Agreed

Windfall tax on oil firms

Agreed

Green Transformation Fund

Agreed

Scrap the planned rise in the pension age 

Sounds massively expensive

Introduce a financial transaction tax, an excessive pay levy and a second homes tax

Possibly

Scrap higher education tuition fees

Nope, we need more unskilled labour

Reverse inheritance tax cuts and imposing VAT on private school fees

No. Terrible class warfare

Give EU nationals living in UK the automatic right to stay

Agreed 

At best I could support 6/8 which is doable. Unfortunately for Corbo, literally all I care about is Brexit.

I've only just got a job where I earn really good money and I can't be fucked giving lots more of it to the state this year, would prefer to give it to myself and my family.  Maybe in 5 more years I'll be feeling more generous, but for now Labour can get fucked.  Don't trust them to spend it wisely anyway (or any party for that matter).

I of course still pay much more tax than most people anyway, but of course am still a baddie.

I can't vote for the Tories or Lib Dems either though so God knows what I'm going to do.

 

Yeah quite.  I've just bought a bottle though and I fancy a big glug before dishing it out.