The 2010 Emergency Budget thread

[JFKvsNixon]

It looks that way doesn't it.

 

I always used to say that every job should be evaluated on a points system according to the value to the community, the degree of knowledge, study and training the job required, the value to human life a doctor or surgeon for example, and you can probably add to the list, because I do think people should be reworded for the work they do and the responsibility they carry?

 

Should people also be rewarded for the wealth they generate?

[L00b]

Your B-i-L's ex has a good job and has no doubt worked for his her cars and salary.

So, why begrudge someone on an equivalent footing who has achieved the same level in the private sector For that is the tone of your argument.

A salary likely to be up to 20% less than he she would receive in the private sector.

Again, some facts if you please? rather than guesstimations?

As for pension, yes the public sector has a good pension, it is partly compensation for the low pay. It is however nothing like as good as some of the ones in the private sector and their 1/30th accrual rates like Digby Jones and his mates enjoy.

Can I ask you to support your argument with examples based on mere mortals, rather than the Digby Jones and Fred-the-Shred of this world, which are very much the exception rather than the rule?

Where I work we have had 1% average pay deals for the last 3 years. The private sectors average pay deal last year was 2% and higher in the preceding years.

Is where you work representative of the entire public sector? (genuine question)

Contrast that with Britain’s directors who have just pocketed an inflation busting increase of 7% , on top of a 22.5% hike in bonus payments....

None of our directors, nor of any of our clients (and that includes some very very major household name businesses) have received any increase since 2009. We are niche service providers, our clients are primarily goods manufacturers/engineering companies. Several clients and many business acquaintances went to the wall in 2009/2010 (I won't claim that we are representative of the entire private sector, but still... pretty symptomatic due to the amount of evidence/happenstances).

[Guest sibon]

and I said your proportional argument is based on the fact that you are unhappy that other people might earn more than you.

 

Fortunately, I have no need to be jealous of anybody's income. You would do well to stop projecting your prejudices onto your perceptions of my argument.

 

Perhaps we should run the income tax system like VAT. Everyone pays, say £15 000 per annum in income tax, regardless of income.

[donuticus]

I haven't said that they shouldn't.

 

I do think that the amount of tax paid should be in proportion to your earnings though.

 

Do you think that the low paid should pay a higher rate of tax than the wealthy?

 

No I don't. But I do think that people should pay the same price for a product regardless of their income. Either people can afford things or they cant.

[Grahame]

Should people also be rewarded for the wealth they generate?

 

If it is for the country, of course.

[Wildcat]

I'd thought that Capital gains tax for higher earner has been increased to 28% in this budget?

 

Yes but the 10% capital gains tax rate for entrepreneurs, which currently applies to the first £2m of qualifying gains made over a lifetime, will be extended to the first £5m of lifetime gains. It has been common in the past to avoid the tax through this loophole by notionally paying family members. The budget has widened this loophole considerably.

[mj.scuba]

and I said your proportional argument is based on the fact that you are unhappy that other people might earn more than you. They have every right to work hard get money and spend it on what they want. They already pay more tax than poor people and often use less public services. Why do you want them to fund you buying luxury items.

 

The politics of envy and jealousy, have's vs have not's is a powerful impulse that will easily sway those of such a predisposition.

[JFKvsNixon]

If it is for the country, of course.

 

So if a specific worker creates a massive profit for their company should they be rewarded for it financially?

[Treatment]

The Chartered Institute of Personnel Director's (CIPD), the professional body that HR professionals joins statement on this is that the budget will prolong and make the recession worse.

 

Chartered Institute of Personnel Development - not Directors.

 

They've been hell enough since they changed from the IPM.

[espadrille]

Just so that people dont get mixed up, here is the summary from The Telegraph.

 

 

http://www.telegraph.co.uk/finance/financetopics/budget/7510939/Budget-2010-key-points.html

 

Public sector workers earning less than £21,000 to be paid £250 extra each year for two years. So public sector employees who are earning a lowish wage benefit from a payment of £250 as well as the benefit from having the tax threshold raised.