Five-point growth plan by Balls

[AtW]

"1) Repeating the bank bonus tax - and using "the money to build 25,000 affordable homes and guarantee a job for 100,000 young people"
2) Bringing forward long-term investment projects, such as schools, roads and transport, to create jobs
3) Reversing January's "damaging" VAT rise now for a temporary period
4) Immediate one-year cut in VAT to 5% on home improvements, repairs and maintenance
5) One-year national insurance tax break "for every small firm which takes on extra workers, using the money left over from the government's failed national insurance rebate for new businesses"

Source: BBC News - Labour conference: Balls unveils five-point growth plan

#5 is the only one making remote sense and he is a complete idiot suggesting cut in VAT would make any difference apart from massive loss of tax revenue.

[eek]

"1) Repeating the bank bonus tax - and using "the money to build 25,000 affordable homes and guarantee a job for 100,000 young people"
2) Bringing forward long-term investment projects, such as schools, roads and transport, to create jobs
3) Reversing January's "damaging" VAT rise now for a temporary period
4) Immediate one-year cut in VAT to 5% on home improvements, repairs and maintenance
5) One-year national insurance tax break "for every small firm which takes on extra workers, using the money left over from the government's failed national insurance rebate for new businesses"

Source: BBC News - Labour conference: Balls unveils five-point growth plan

#5 is the only one making remote sense and he is a complete idiot suggesting cut in VAT would make any difference apart from massive loss of tax revenue.

Actually 4 works as it would bring development forward and might keep some builders in work.

I'm not sure 5 will as its so badly phrased it probably means:-

employ 1 extra worker and save the NI on all existing 10,000 workers.

Either way its Ed Balls talking tulip so listen to what he asks for and do the exact opposite.

[Bunk]

Actually 4 works as it would bring development forward and might keep some builders in work.

I'm not sure 5 will as its so badly phrased it probably means:-

employ 1 extra worker and save the NI on all existing 10,000 workers.

Either way its Ed Balls talking tulip so listen to what he asks for and do the exact opposite.

It's only for small firms, isn't that under 50 employees? So presumably he doesn't want big companies to create more jobs?

[minestrone]

Spend more, tax the rich and reduce taxes for really small companies where they might get an extra vote from the owner over the policy.

Populist lefty tulipe.

[Paddy]

"1) Repeating the bank bonus tax - and using "the money to build 25,000 affordable homes and guarantee a job for 100,000 young people"
2) Bringing forward long-term investment projects, such as schools, roads and transport, to create jobs
3) Reversing January's "damaging" VAT rise now for a temporary period
4) Immediate one-year cut in VAT to 5% on home improvements, repairs and maintenance
5) One-year national insurance tax break "for every small firm which takes on extra workers, using the money left over from the government's failed national insurance rebate for new businesses"

Source: BBC News - Labour conference: Balls unveils five-point growth plan


#5 is the only one making remote sense and he is a complete idiot suggesting cut in VAT would make any difference apart from massive loss of tax revenue.

There is no such thing, whatever the cost of building the property will be sold at market prices

[Spacecadet]

5% VAT reduction for home improvements?

Surely anyone sensible is already paying for that sort of thing in cash anyway

[eek]

5% VAT reduction for home improvements?

Surely anyone sensible is already paying for that sort of thing in cash anyway

Love to know who you get materials from at 5% VAT.

Last time I did work money went 4 ways:-

builders yard (payment on delivery)
builder
Builder's mate
Builders cash box for purchase of smaller items as required.

It made life easier for the builder as he could avoid VAT registration and saved me a fortune as the only VAT I paid was on actual physical items.

[craig1]

So... in short, Balls is advocating some directly linked tax & spend, some tax cuts without reciprocal state budget cuts and bringing forward state spending at a time when the budget is already gone. It's great being in opposition when you don't have to find the money for daft promises.

It was wildly optimistic spending of imaginary money that got us into the current mess. Although I think Call-Me-Dave and his puppet Osborne are cretins of the highest order at least they're not certifiably insane like the Labour lot of the previous Parliament.

[amoeba]

"
2) Bringing forward long-term investment projects, such as schools, roads and transport, to create jobs

I am no economist, but surely to 'bring projects forward' means borrowing money to pay for them..... So Labour wants to borrow money to get out of the debt crisis?

[Doggy Styles]

I am no economist, but surely to 'bring projects forward' means borrowing money to pay for them..... So Labour wants to borrow money to get out of the debt crisis?

Yep. That sort of thinking is in their DNA.