biffer Posted December 3, 2014 Share Posted December 3, 2014 Interesting stuff in there. Some tax cuts for Oil and Gas, someone with more industry knowledge would need to tell me if they're good bad or indifferent. Following the Scottish Government's lead on Stamp Duty, but in a way which presents an interesting clash - he's cut stamp duty in RUK through his new band system, but the way the Scottish Government brought it in was revenue neutral. However, Gideon has replaced the lost income with a UK wide bank tax change. So do we get an additional consequential on that? A fukkin Soveriegn fukkin Welath fukkin fund for the fukkinNorth of fukkin England for their fukkin Shale Gas? Where's ours for the Oil Gideon you arsetrumpet? Not a mention of renewables that I heard. Some decenet stuff for the North of England but it'll need a lot more investment than one semi budget to really make the difference needed. The Google tax is a good thing - so long as it's implemented and properly paid up. No deals HMRC. Corporation Tax devolved to Northern Ireland - so no technical reasons why it couldn't be devolved elsewhere (i.e. us), only political ones. Quote Link to comment Share on other sites More sharing options...
mariokempes56 Posted December 3, 2014 Share Posted December 3, 2014 (edited) The "wealth fund ", Corp Tax and APD reductions are no more than "get it up ye NO voting clowns"... Edited December 3, 2014 by mariokempes56 Quote Link to comment Share on other sites More sharing options...
biffer Posted December 3, 2014 Author Share Posted December 3, 2014 (edited) The "wealth fund ", Corp Tax and APD reductions are no more than "get it up ye NO voting clowns"... And a big F you to Scotland's solicitors, who will have to deal with a change in stamp duty from tonight and then change it again when the power is devolved to Scotland in six months. A deliberate ploy to get the Scottish Government to implement the same bands as RUK IMO Edited December 3, 2014 by biffer Quote Link to comment Share on other sites More sharing options...
mariokempes56 Posted December 3, 2014 Share Posted December 3, 2014 I'll never buy another stamp. Kunts. Quote Link to comment Share on other sites More sharing options...
AlfieMoon Posted December 3, 2014 Share Posted December 3, 2014 And a big F you to Scotland's solicitors, who will have to deal with a change in stamp duty from tonight and then change it again when the power is devolved to Scotland in six months. A deliberate ploy to get the Scottish Government to implement the same bands as RUK IMO The 2nd top tier of 10% on the new proposed system for Scotland seems a bit of an extreme squeeze and too much of a jump from the 2% lower tier. As for the Barnett block grant being reduced by two-thirds - I can't see how we'll come out of this well. With limited control over taxation, limited control over spending, limited control over welfare - it all seems a recipe for disaster. We previously had a block grant based on English public spending - now that will be reduced by two-thirds but should effectively have the same pool of money (to begin with at least) - but limited borrowing powers (at worse rates) and don't have the powers to create a competitive enough business environment to grow the tax revenues. I can't see us coming out of any of this well. Quote Link to comment Share on other sites More sharing options...
mariokempes56 Posted December 3, 2014 Share Posted December 3, 2014 From wings.. If you can’t quite make that out: “A deduction will be applied to the block grant to reflect the Scottish Government’s tax powers. As a result, the importance of the Barnett Formula will effectively be reduced by around two-thirds, with changes in the Scottish Government’s budget increasingly determined by changes in Scottish tax receipts.” Or in other words, as we’ve been telling you for ages, the Scottish Government’s budget will only double if it doubles your taxes. (Actually more like triples, since it still won’t have control of most of them and would have to get ALL the money from income tax alone.) Which plainly isn’t going to happen. Nobody’s about to make the basic rate of income tax 60%, so the Scottish Government budget is staying right where it is. And because of the Barnett reduction by 2/3rds I assume that any "consequentials" will also be reduced ? Quote Link to comment Share on other sites More sharing options...
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