Rishi Sunak - Prime Minister

[Mr Penguin]

turbobloke said:

cirian75 said:

monkfish1 said:

blueg33 said:

carlo996 said:

blueg33 said:

Bankrupted us by the end of the first month? Do you remember a Tory PM called Truss? Or senior Tories that thought self imposed sanctions were a good plan.

I'm in London today, 2 meetings with major investors looking to ramp up their investment in UK projects if Labour get in. They see better economic stabilty and better growth potential. These are not small players, one has circa £10bn to deploy and is already a household name in the UK.

Great, I hope for those who have jobs in the sector it does. At the end of the day all any investor wants is a better return, so not much skin in the game with politics.

They do have skin in the game with politics as it directly impacts returns. Thats why they are coming forward now, not a year ago or 2 years ago etc.

I suspect they will be disappointed. Continued decline and more of the same is inevitable, though im sure there will be a few "winners" at other peoples expense.

It takes as least 6 months for new Gov figure out what the reality of the situation is before then can even think about making significant changes.

Now after 14 years of the Uk being hollowed by Tory Assett stripping Inc, it'll take a good while longer

Excuses for inaction at this stage? It'll only take six months if they've been asleep foe the last few years and they're slow readers, the country's finances haven't been and aren't secret thanks to Hansard, OBR, ONS.

institute for Fiscal Studies said:

The next government does not need to enter office to 'open the books'; those books are transparently published and available for all to inspect

https://ifs.org.uk/articles/public-finances-and-2024-general-election

As Rachel Reeves has already commented on. https://x.com/JohnRentoul/status/18030739539020432...

[PurplePenguin]

anonymoususer said:

cirian75 said:

It takes as least 6 months for new Gov figure out what the reality of the situation is before then can even think about making significant changes.

Now after 14 years of the Uk being hollowed by Tory Assett stripping Inc, it'll take a good while longer

Poppycock. Labour will hit the ground running and have a whole raft of new policies ready for the Kings Speech
There will be something for everyone lot's of surprises in store

“Surprises”! No st Sherlock

[turbobloke]

PurplePenguin said:

anonymoususer said:

cirian75 said:

It takes as least 6 months for new Gov figure out what the reality of the situation is before then can even think about making significant changes.

Now after 14 years of the Uk being hollowed by Tory Assett stripping Inc, it'll take a good while longer

Poppycock. Labour will hit the ground running and have a whole raft of new policies ready for the Kings Speech
There will be something for everyone lot's of surprises in store

“Surprises”! No st Sherlock

We've already had headlines with Starmtroopers (dodgy for Labour to swing that way) and Starmergeddon. Exciting surprises await the result.

[Smollet]

anonymoususer said:

Poppycock. Labour will hit the ground running and have a whole raft of new policies ready for the Kings Speech
There will be something for everyone lot's of surprises in store

Some very unpleasant ones I’d wager

[pingu393]

anonymoususer said:

Labour will hit the ground running and have a whole raft of new policies ready for the Kings Speech

They had better not.

I collect a DB pension in December with a large tax free element.

It won't have any tax free element if the rumours are true about Labour's plans.

[JNW1]

Smollet said:

anonymoususer said:

Poppycock. Labour will hit the ground running and have a whole raft of new policies ready for the Kings Speech
There will be something for everyone lot's of surprises in store

Some very unpleasant ones I’d wager

Not sure many of them will be surprises though - lots of the things they've been refusing to rule out during the campaign (such as on tax) will more than likely happen, quite probably early in their term. The surprise will be if people don't get a soaking!

[carlo996]

pingu393 said:

They had better not.

I collect a DB pension in December with a large tax free element.

It won't have any tax free element if the rumours are true about Labour's plans.

But these taxes are for the good of the people, we have to help those not as fortunate as ourselves. I mean I am sure every Labour MP would willingly give up a portion of their own pensions...selfless as they are

Turkeys voting for Christmas.

[pingu393]

carlo996 said:

pingu393 said:

They had better not.

I collect a DB pension in December with a large tax free element.

It won't have any tax free element if the rumours are true about Labour's plans.

But these taxes are for the good of the people, we have to help those not as fortunate as ourselves. I mean I am sure every Labour MP would willingly give up a portion of their own pensions...selfless as they are

Turkeys voting for Christmas.

I've done the maths, and if I have to, I will pull my pension 6 months early. It'll save me £5k, with a 9 year breakeven point.

I'll also crystallise my SIPP and take the tax-free element.

This assumes that Rachel doesn't make the rule change immediate.

[Boringvolvodriver]

pingu393 said:

I've done the maths, and if I have to, I will pull my pension 6 months early. It'll save me £5k, with a 9 year breakeven point.

I'll also crystallise my SIPP and take the tax-free element.

This assumes that Rachel doesn't make the rule change immediate.

That’s the danger - from their point of view, if they delay it, those that can will change plans accordingly and thus lose the immediate benefits. Not everybody will be in a position to change plans so I would hope they would delay it for some time in the future.

I still have some uncrystallised tax free funds in my SIPP which paying tax on would be annoying to lose. Would amount to about £10k of additional tax to pay over however long I have left taking my pension. If I live for another 20 years, then £500 pa which doesn’t sound so bad as the “hit” of £10k.

[Rufus Stone]

pingu393 said:

They had better not.

I collect a DB pension in December with a large tax free element.

It won't have any tax free element if the rumours are true about Labour's plans.

Are you getting your rumours from Tory central command?

[Cobracc]

carlo996 said:

pingu393 said:

They had better not.

I collect a DB pension in December with a large tax free element.

It won't have any tax free element if the rumours are true about Labour's plans.

But these taxes are for the good of the people, we have to help those not as fortunate as ourselves. I mean I am sure every Labour MP would willingly give up a portion of their own pensions...selfless as they are

Turkeys voting for Christmas.

I know what you mean...I won't be able to sleep at night worrying about all those poor millionaire boomer pensioners having to pay a bit more back into the pot they've taken so much from!

[carlo996]

Cobracc said:

I know what you mean...I won't be able to sleep at night worrying about all those poor millionaire boomer pensioners having to pay a bit more back into the pot they've taken so much from!

Yeeeessss, let it all out, the politics of envy. God we hate success in the UK.

[markh1973]

carlo996 said:

Cobracc said:

I know what you mean...I won't be able to sleep at night worrying about all those poor millionaire boomer pensioners having to pay a bit more back into the pot they've taken so much from!

Yeeeessss, let it all out, the politics of envy. God we hate success in the UK.

As opposed to those using the politics of fear and making up Labour's policies for them.

[bigothunter]

Cobracc said:

I know what you mean...I won't be able to sleep at night worrying about all those poor millionaire boomer pensioners having to pay a bit more back into the pot they've taken so much from!

Millionaire boomer pensioners living a life of extravagance on £10k per annum

[carlo996]

markh1973 said:

As opposed to those using the politics of fear and making up Labour's policies for them.

Try again, Labour themselves haven’t denied the tax rises and it’s what every Labour government does. By fear, if you mean fear of paying more…see what odds you get at the bookmakers

[732NM]

Cobracc said:

I know what you mean...I won't be able to sleep at night worrying about all those poor millionaire boomer pensioners having to pay a bit more back into the pot they've taken so much from!

Most people who are due to take some pension savings are not wealthy. Losing the 25% tax free lump sum will be a massive kick in the bks for your average labour voter.

[bitchstewie]

pingu393 said:

They had better not.

I collect a DB pension in December with a large tax free element.

It won't have any tax free element if the rumours are true about Labour's plans.

Labour says it won’t drop tax-free pension lump sum after radio mix-up

[S600BSB]

bhstewie said:

pingu393 said:

They had better not.

I collect a DB pension in December with a large tax free element.

It won't have any tax free element if the rumours are true about Labour's plans.

Labour says it won’t drop tax-free pension lump sum after radio mix-up

Unless they change their minds..

[carlo996]

bhstewie said:

Labour says it won’t drop tax-free pension lump sum after radio mix-up

You know how elections work right, well, probably not.

[turbobloke]

bhstewie said:

Labour says it won’t drop tax-free pension lump sum after radio mix-up

How unfortunate.