I have little doubt that Boris Johnson will be our next Prime Minister. That he will be disastrous is guaranteed. That other Tory candidates would be too does not matter: he will be dire.
How do I know? He has been writing in the Telegraph, setting out his big ideas. I quote from Politics Home as the Telegraph has paywalls. He has said:
We should be cutting corporation tax and other business taxes.
We should be raising thresholds of income tax — so that we help the huge numbers that have been captured in the higher rate by fiscal drag. We can go for much greater economic growth — and still be the cleanest, greenest society on earth.
I do not think I need to add more.So let me address these issues.
Business does not want another cut in corporation tax: it would prefer better services (and yes I know they are not necessarily linked, but business and Johnson think they are).
And anyone who knows anything about the trade system knows that cutting corporation tax further will just increase the opportunities for tax abuse in the UK tax system. As well as increasing inequality, of course.
Whilst cutting taxes for those on £50,000 - £80,000 is, of course, the highest priority for spending there is in the UK, but only is you are standing for leader of the Tory party. Costing £9.6bn, it would apparently be paid for by the Brexit dividend. I have to say that of all the groups in society to pick on to help Johnson shows his true spirit of self-interest first by choosing those already in the top 10% of earners, even if they don't appreciate it. As an indicator of inability to appraise priorities few come better than this.
Barring his suggestion that we can have much greater growth and be the cleanest, greenest society on earth, that is. And that's because that's tautologically impossible when measures of growth are basically dependent upon planetary destruction.
I keep thinking things are bad. Then they get worse.
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Hmmm….depends who is wagging the tail… https://www.bmj.com/content/365/bmj.l2164.abstract
Indeed….
Richard
Let us cut to the chase: Johnson knows his party is now totally reliant on those who will be beneficiaries of these asinine policies – the minority mega rich who will give the TP all the cash it wants as a reward. That to me at least is where he seems to be going.
This is so depressing. Appropriate background music: Schubert’s piano trio in e-flat, Opus 100, 2nd movement; or Albinoni’s Adagio for organ and strings played by the Berlin Phil directed by Karajan (due to its funereal tempo). That’ll make eveyone feel good. Not.
I don’t known that Schubert, at least by name
Now I am going to have to find it…..
https://www.youtube.com/watch?v=kI1O7HX2TKk
https://www.youtube.com/watch?v=kgedZo2ZjIE
Dies Irae from Verdi’s Requiem or Purcell’s funeral music for Queen Mary, depending on whether fury or doom is the predominant mood.
What? Schubert? No way! Too serene! Too poised! Too mysterious!
If you’re talking about Johnson you need something bumptious, comical, over bearing and ………erm ….English.
Ladies and Gentleman I give you Elgar! Plus a rendition of ‘Land of Stupid Tories and of Racists Too’.
https://www.bing.com/videos/search?q=pomp+%26+circumstance+youtube&view=detail&mid=75215F47DE39202393DB75215F47DE39202393DB&FORM=VIRE
Look – I too am worried. But come on – Boris as Prime Minister? I means its a joke right? It’s comical. It’s the scherzo before the final cataclysmic finale of the Tory party. We have come to this – and here we are. Yes it’s serious but Boris as a ‘serious politician’? In fact any of the candidates? Nope.
So I will look forward somehow to the future – the battle of ideas , the overcoming of ignorance and stupidity, the saving of our base selves by our better selves, MMT rampant, GND in full bloom.
But before all that – turbulence – and what better piece for us English than William Walton’s First Movement from his 1st Symphony:
https://www.bing.com/videos/search?q=william+walton+Symphony+No+1+first+movement+youtube&&view=detail&mid=43E724445691A399D74443E724445691A399D744&&FORM=VRDGAR
How will those that live in some of the most disadvantaged areas, many of whom voted to leave, feel when the dividend (and even if it doesn’t exist the tax cuts will be made) is used to relieve the wealthy and not the needy? What happens when it starts to become clear that these areas are not going to benefit in the way they though they might.
I rather hope they notice soon
But I fear Farage will simply try to capture their vote when they do so
I wonder how many Tories really think they will be in office again during the next 25 years?
As well as taxation and growth, what about Brexit generally? Johnson will face same the same parliamentary numbers problem as May had to. As well as suggesting that we default on the money we owe the EU, the joker might also go for prorogation of Parliament to placate the throbbing neck-veined ranks of the brexitjihadis in the ERG. Then what? A village panto enactment of the English Civil War beckons. And what of the British border in Ireland? The militarists in the republican movement are itching to say ‘we told you so you can’t trust the brits!’ The UK could literally break up. Even if we come to our sense and abandon Brexit, it is going to take years to rebuild our reputation up as a serious country.
I think years is an understatement
Decades more likely
Seriously
And the risk of serious disruption – civil strife I mean – remains real
I’m unsure that Mr Johnson really thinks that these policies would be enacted – many in parliament on his own side would oppose them.
I think he is just speaking to the odd electorate that he has to win over. However it is still harmful, because it helps to set the political agenda.
It has been proven many times before that he will say and do almost anything to further his own inexplicable rise to the top of politics.
I have a nostalgia for the time when I considered him to be a joke candidate to be mayor of London! Now he is apparently judged by the Conservative party to be the best person to be Prime Minister – strange and worrying times indeed.
As Lenin didn’t say: the rich will sell us the politicians through whom we shall learn to destroy their unsustainable wealth-concentrating system.
Apparently about half of this windfall for the rich will be “paid for” by higher NICS. This would benefit certain categories, such as those living on rents, savings interest, dividends, capital gains, annuities, or pensions who do not pay NICs; they would stand to gain twice as much as higher income earners (credit Paul Lewis of Moneybox Live on Twitter).
Paul also says “NICs could also be applied to dividends, rents, capital gains etc but wait I am now in fantasy land!”
Of course this runs a coach and horses through the current tax arrangements for Scotland, which controls income tax rates and bands, but not NICs – and can change none of the rules affecting those categories listed above.
We expect the usual “use the powers you currently have” to fix this unfixable mess.
Well pointed out
To put this in context, median earnings is under £30,000. £50,000 is above the 80th percentile of income. So, apparently, this tax cut for people earning around twice median earnings, the top fifth of earners (and recipients of dividends and interest) would be paid for by increasing national insurance for all employees. Great. Jobs tax mark 2. But I suppose Johnson knows what will appeal to his internal party electorate.
I suppose Johnson (and the other candidates) want to write their page in history, but I’d be surprised if any of them come of this period of national turmoil with much acclaim.
I think there is not a hope this would happen
It is just nonsense
Interesting that the Americans are now declaring their interest, suggesting they’ll subvert the democratic process here in the UK to suit themselves https://www.washingtonpost.com/world/national-security/pompeo-pledges-not-to-wait-for-britains-elections-to-push-back-against-corbyn-and-anti-semitism/2019/06/07/dfeaa180-9c27-4495-9322-3d16b7d1541a_story.html
They weren’t too keen on the Russians allegedly interfering in their elections, as I recall. Power for its own sake seems to the the right wing aim now on both sides of the Atlantic.
I had noted …..
They have learned from their Russian masters to interfere at will
A further detail on the Johnson “plan”. Apparently the tax cut is to be funded in part by increasing the limit for 12% NI contributions to £80k. Of course pensioners don’t pay NI so he has found a way of promising a bribe to exactly the demographic that constitutes the bulk of the Conservative party membership – rich pensioners!
Shameless doesn’t really quite cover it!
SO they will have one of the lowest marginal tax rates in the country ….
Staggering
So Johnson makes a manifesto statement designed to appeal only to the self interest of 120k Tory party members but which will effect the whole of the UK.
This is NOT democracy.
Sure it is a coincidence that a MP’s salary at £79468 is just below the proposed threshold of 80k.
🙂
So let me get this straight. I am a civil servant who works for a Westminster department in Scotland. I earn a salary which is well above the UK average (but has been seriously reduced not just in real terms but also in actual terms, since 2010). I appreciate I am in a privileged position, but what I do is to take millions of pounds every year off those who choose to try not to contribute to UK society to the extent the law says they should. Those with whom I argue on a daily basis are unquestionably much better paid than I am, but I wouldn’t even think about swapping places with them.
Boris wants to bribe English middle-earners (excuse the description, but you know what I mean) with a 20% income tax cut, less a 10% NIC rise. In Scotland, the SNP ain’t going to match the income tax cut, nor am I suggesting they should. But Westminster would nonetheless impose the additional NIC.
So Johnston’s big idea is in effect to inflict a 10% tax rise on Scots earning between £50-80,000. I don’t expect to read that in the Scottish Daily Mail. Mainly because I wouldn’t wipe my backside with it, let alone read it, but you know what I mean…
What I should have added to this was that it’s a sign the current constitutional arrangements for Scottish devolution aren’t workable in the long term, if (as has already been observed on here) the UK government has control of large swathes of what would otherwise be Holyrood’s.
Agreed
I still expect it to be Hunt (partnered with Javid).
Known for his steely eyed (stealy?) single mindedness. He seemed to have been crowned by his US Health privatising masters – he met Trump, single handedly, as he arrived on AF1.
He was even cosily asked by the President at the press conference (ignoring May) if Gove might make a good PM! Whaddya say Jeremy, is Mikey better than you?
For all the cotton wool surrounding BoJo from blowing the gaff by opening his gob – everyone knows the bullingdon wrecker is incapable of NOT embarrasing himself and his minders in one unscripted action or word. Which he will be allowed to do once there is only him and Hunt left, if he manages to get through his launch.
Yet again the country is being bamboozled into thinking that a president of the UK is being selected not a PM.
At least you, Prof Murphy, focus on their financial policy statements, while the media do their bit in getting the chosen one crowned.
An observation on the difference in how the Tories elect their leader compared to Labour – i recall multiple televised public hustings that Corbyn and his opponent conducted with unscripted questions, before the membership voted. May avoided it, the members didn’t get to vote and she too was crowned, just like every tory Leader ever was.
So, it’s to be paid for by the Brexit dividend. Hmmm. I thought the government had already earmarked 3Bn pa of that for the farmers in lieu of EU subsidies over the next 7 years. Is it unreasonable to assume the B of E may have to chuck in a few quid, on top of the 3Bn plus that the referendum cost, to support the pound? Maybe we’ll need a few extra customs officers, a few sweeteners for industry, etc. Brexit Dividend. Wot Brexit Dividend?
Oh Sigh.
When will the candidates realise by speaking to the honest, more ethical and family orientated company owners that the pendulum of political power and influence has swung too far in favour of the Directors, the geared privileged rich, overseas financial brutes with psychopathic desires to subjugate those they can get power over.
The abuse of the privaledge of limited liability companies, the use of Directors insurance to protect Directors against the abuse of their role and position, the extortion of Directors to favour themselves/ take companies private/undermine for a payoff, the substantial and ongoing abusive power of the USAs politically powered three headed dog of a beast, the unregulated Cer ber us, that has hoovered up the regulated mortgages from Northern Rock, RB S Natwest Ulster Bank, Bradford and Bingleys, Mortgage Express, Cou tts and imposed raised interest rates on their new mortgage prisoners. Parliaments debate had 15 MPs.
They are mortgage prisoners as they are unable to claim protection, they are not offered alternative mortgages by the provider, the buyer seeks to ruthlessly exploit the unintended consequences of the Enterprise Act reform of insolvency and debts to bankers.
Why doesn’t Gove, Leadsom, Johnson, Hunt call out the truth that the pendulum has swung too far in favour of Directors and companys and their political power/threats/influence are now too great.
We are as a nation too far away from the simple common faithful British owners had in the now misplaced trusting of two centuries of supportive banking practice and bank managers. The spawn and bad ethical practices enabled by a law to steal Railtrack PLC in 2001 has spread from Corporate RBS to Natwest with the GR G unit and its ex employees and acolytes have spread Bostock, Hestor, Hampton, Aileen Tay lor, KP MG, Deloit te to further positions of power and influence in regulators, the ensnaring of HM Treasury the cluts, UK Asset Resolution the cloth heads, UKGI the muppets, FCA the co-conspirators. At least keep the Bank of England from the Bailers of this world.
Time to legally require regulation of the unregulated, the withdrawal of licences, the confessional clearing out of the compromises, the collusion, the regrets, the resentments left from nearly two decades of malicious exploitation by the few over the many. Just ‘300’ in Rb S out of 50,000 – 100,000. Enough is enough the suicidal and the dead cases deserve to be heard and those that perpetrated and were employed sealed from society by their victims.
The same with Electric infrastructure owned by overseas entities.. infrastructure digging on a grand green scale.
A time to out those hiding behind the veils and those protecting them. The infectious boils must be lanced wherever they are, blackballed before the whole patient is infected. removed from elected office, replaced, the city blackballed, the licence to manage deferred indefinitely . .
PS if you are wondering why the extra spaces in names its my hope that those named will be delayed in counter attacking . . . . only delayed . . . the new leaders in the husting now have a chance, the opinion has swung, the swing back has begun the upside is the publics vote and loyal gratitude.
A friend outlined a nightmare scenario on our walk through Cressbrook Dale yesterday.
Boris wins of course, but he can’t get a deal with the EU and the Commons won’t agree a No Deal. So he calls an election, but his only chance of winning is to do a deal with Farage, who is promised a seat in the Commons or the Lords, which he’d probably prefer, and a govt job if he wants one, but I doubt he would. Though I can see him as Ambassador to the US. Johnson and Farage then win the election, take us out of the EU via no deal and begin the final destruction of the welfare state with more than a little help from their American friends.
I couldn’t find a flaw in my friend’s logic. I hope you can, otherwise it’s off to Ireland.
It is possible
The Corporate Governance of the US and UK plcs with the assistance of the bankers owning asset management companies and their proxy votes in favour of electing Directors has been unwinding ethical european style behaviours since the Big Bang.
The USA and its deal makers have been trussing up and setting up the UK for years – beating up a Brit on TV or as a country is a vote winner in USA and for the presidents favourite republican instruments. Targets worthy of ‘stealing’ ‘acquiring’ ‘subjugating’ – already listed and done over Warburgs, Lloyds of London, GEC, BP, Vodafone, Property ownership, covering the busienss sectors of merchant banking&asset management MAM, reinsurance, general industry GE areas, Oil, telecoms, ethical investment Hermes, property residential Northern Rock, Bradford & Bingley UKAR, mortgage portfolios etc commercial UKAR RBS, so what is left?
Well the targets are IMO as any quality tech companies are swallowed as minnows whilst the FANGs ride free plunder tax free.
Retail banking top 4 banks – RBS Natwest run by puppet masters beneath the ‘Compromised’ Directors size £25Bn – banking is real power over time.
Distraction campaign – NHS services to double the national taxation contribution to health from the UKs low %. A longer game as electorally troublesome to get control of the spending hospitals.
Solutions
Publish inward investment figures without bootstrapped debt takeovers or selloffs ie the buyer of Man Utd just loading it with debt or Asdas takeover by Walmart ditto adding £5bn of debt. The ministers are ego tripping up the creak by including takeovers in the figures which destabilise and undermine UK wealth generation vs how much is sold off as rentier assets.
Pity the political EU failure in overplaying their hand to force a captive UK vassal state will now cause maximum damage vs a sensible solution. The EU political Fagins find the victim has left the street pickpockets, the UK gets a control of EU migrant benefits, UK fish, other open sores, cuts out EU jobsworthy activities. . . . . I predict the EU will be riven by social stresses from finance, migration just as the UK is now. Maybe they would force out Germany . . better for the rest of the EUs trade deficits.
But the EU cannot offer that, the EU offer only like the UK a loaded gun – the EU has trapped themselves in laws of their dinosaur 1960s assumptions. Just plain Sad.
There are no winners amoungst the European nations only their global opponents.