Chancellor Rachel Reeves: Her Time Is Up!

[Artaxerxes]

Seems Reeves has been lying about her work experience.

After a former BoE employee accused her of never being an Economist, just a Complaints Manager she has edited her LinkedIn:

View attachment 451670

Economist isn’t a real fucking job anyway

 

[ID47]

Seems Reeves has been lying about her work experience.

After a former BoE employee accused her of never being an Economist, just a Complaints Manager she has edited her LinkedIn:

View attachment 451670

Understandable mistake.

 

[rasputin]

Seems Reeves has been lying about her work experience.

After a former BoE employee accused her of never being an Economist, just a Complaints Manager she has edited her LinkedIn:

View attachment 451670

I think you're confusing Bank of England and Bank of Scotland.

Halifax, at the time, was part of HBOS (Halifax Bank of Scotland), now owned by Lloyds.

 

[moochedit]

look at anyone.

* shudders *

 

[CNT36]

Her linked in today. So she was an economist for a bit?

 

[PR1Berske]

From the Guardian

A defiant Rachel Reeves will rebuke critics of her tax-raising budget on Monday, telling disgruntled business leaders that they have offered “no alternatives” to her plans.

Since Labour’s first budget in 14 years last month, business groups have warned that the chancellor’s £25bn increase in employer national insurance contributions (NICs) will force them to cut jobs and raise prices. Thousands of farmers have also protested against changes to inheritance tax.


But Reeves will tell the Confederation of British Industry (CBI) annual conference in Westminster that no one has offered a better solution to the challenging situation left behind by the previous, Conservative government.

“I have heard lots of responses to the government’s first budget but I have heard no alternatives,” she is expected to say. “We have asked businesses and the wealthiest to contribute more. I know those choices will have an impact. But I stand by those choices as the right choices for our country: investment to fix the NHS and rebuild Britain, while ensuring working people don’t face higher taxes in their payslips.”

The chancellor’s budget on 30 October included £40bn of tax rises to boost public spending. Increases to employer NICs were the biggest revenue-raiser for the Treasury.

Coming alongside a significant uplift in the minimum wage in April, businesses in some industries, including hospitality and retail, have said they will struggle to absorb the extra NIC costs.


Rain Newton-Smith, of the CBI, is expected to warn of ‘unintended consequences’ from Reeves’s budget.

The CBI’s director-general, Rain Newton-Smith, will use her speech at the gathering to welcome Reeves’s moves to stabilise the public finances, but also accuse her of jeopardising economic growth by taxing firms more heavily.


“When you hit profits, you hit competitiveness, you hit investment, you hit growth,” Newton-Smith is expected to say. “Almost two-thirds of firms told us this budget will damage UK investment.”

Underlining corporate frustration at the unexpected tax raid, she will say: “Tax rises like this must never again be simply done to business. That’s the road to unintended consequences.”

A survey of 266 businesses carried out by the CBI to assess the impact of the budget found that half are considering cutting jobs and almost two-thirds are rethinking plans to hire new staff.

Nearly half of the firms surveyed said they were likely to delay, or reduce, pay increases in the coming months.

 

[Smokeandsteam]

"I have heard lots of responses to the government’s first budget but I have heard no alternatives,” she is expected to say.
Simply not true.

For example:

https://taxingwealth.uk/wp-content/uploads/2024/04/Taxing-Wealth-Report-2024-Summary.pdf

For example:

Unite calls for 1% wealth tax on super-rich to fund UK public sector pay rises

The demand from Britain’s second biggest union will test truce with Labour at next month’s TUC conference

www.theguardian.com

For example:

The Budget Is Socialism for the Rich, Austerity for the Poor | Novara Media

With her record-low corporation tax and below-inflation benefit rises, Labour’s first woman chancellor has indeed made history: by passing up a historic opportunity to fix Britain, writes James Meadway.

novaramedia.com

 

[kabbes]

I suppose the point is that the likes of the CBI haven’t offered an alternative. It’s not like they would be happy with a wealth tax either. Basically, they don’t want to pay tax at all. Reeves is right to point out the untenability of that

 

[littlebabyjesus]

From the Guardian

I detest Reeves, but fuck these business leaders. Every time anything like this happens, they claim it will cost millions of jobs. Said the same thing about the minimum wage.

 

[kabbes]

If you want to employ people in the UK and exploit their labour to produce a profit then, guess what, you might have to pay towards the infrastructure that provided you with that labour in the first place. These fuckers claim that productivity has declined but they don't draw a line between that and the crumbling infrastructure that supports that productivity. (And that's placing the whole thing in their own terms, leaving aside the ideology of "productivity" in the first place.)

 

[teqniq]

This could be interesting:

 

[Bahnhof Strasse]

If you want to employ people in the UK and exploit their labour to produce a profit then, guess what, you might have to pay towards the infrastructure that provided you with that labour in the first place. These fuckers claim that productivity has declined but they don't draw a line between that and the crumbling infrastructure that supports that productivity. (And that's placing the whole thing in their own terms, leaving aside the ideology of "productivity" in the first place.)

If they hate taxes that much, why not move their business to Monaco? Sure they'd have to pay £13m a year for a local to clean their office etc., but at least they won't have to contribute to the well being of society.

 

[rasputin]

"I have heard lots of responses to the government’s first budget but I have heard no alternatives,” she is expected to say.
Simply not true.

For example:

https://taxingwealth.uk/wp-content/uploads/2024/04/Taxing-Wealth-Report-2024-Summary.pdf

I have mixed feelings on that. The author is Richard Murphy, whom I think is sometimes right on the money - for example when he ripped into Green Party economic policy a few months back.

Other times he makes no sense, mainly when he's promoting the Modern Monetary Theory agenda.

I think the Labour Party wasn't far off when they said this about him:

"He is not the economic adviser and never has been, because we doubted his judgment, unfortunately. He is a tax accountant, not an adviser. He is actually excellent on tax evasion and tax avoidance, but he leaves a lot to be desired on [macro] policy"