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November 30 2022 4.46am

Labour's blatant " side of a bus lie "

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View HKOwen's Profile HKOwen Flag Hong Kong 08 Sep 22 10.40am Send a Private Message to HKOwen Add HKOwen as a friend

Labour's " Red Bus " mantra on energy companies have 170bn in profits, this is an assumptive figure , so totally misleading and they know it.This number was tweeted out by Starmer, Miliband and Rayner .

Labour's own number on additional windfall tax revenue was 8 billion, which a lot of cash but less than 10% of the likely cost of the energy bail out which Truss is likely to announce.

If there is an alternative to borrowing then someone please say what it is.

This in economic terms is war time event, we need to look forward not back.

You cannot shrink an economy to health.

Labour are of course unhappy that the Govt is adapting it's policies to the situation, which may well include policies Labour have been asking for.

They realise that in a couple of years if things have improved voters won't care who claims authorship of the solutions

* I have amended this post for accuracy

Edited by HKOwen (08 Sep 2022 1.32pm)

 


Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.

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View The Dolphin's Profile The Dolphin Flag 08 Sep 22 11.02am Send a Private Message to The Dolphin Add The Dolphin as a friend

If she makes winter warmer and reduces inflation then the voters will see her as the new Messiah and there will be much gnashing of teeth in the Labour camp.
If they gnash too much then the voters will ask the obvious question - "they have done what you wanted but now apparently they have done it wrong - how and why"?
Martin Lewis - who has been brilliant in my opinion - says that the plan isn't perfect but that no plan ever is but at least this will help the less well off.
The side bar to this is that if inflation suddenly falls there will be a lot of Union bosses being asked why they didn't accept xy offer a few weeks ago!
New offers will be lower.

 

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View steeleye20's Profile steeleye20 Flag Croydon 08 Sep 22 11.12am Send a Private Message to steeleye20 Add steeleye20 as a friend

Not correct

UK gas producers and electricity generators may make excess profits totalling as much as 170 billion ($199 billion) over the next two years, according to Treasury estimates that lay bare the revenue-raising potential of a windfall tax.

 

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View The Dolphin's Profile The Dolphin Flag 08 Sep 22 11.48am Send a Private Message to The Dolphin Add The Dolphin as a friend

Steeleye - where is that info please?
Genuine question

 

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View HKOwen's Profile HKOwen Flag Hong Kong 08 Sep 22 11.49am Send a Private Message to HKOwen Add HKOwen as a friend

I would like to see that too.

If correct I shall gladly withdraw the thread

The Treasury estimate of 170 bn ( guess ) is based on the assumption that every worst case scenario happens between now and end of 2024.

The Treasury has a vested interest in derailing Truss as she seems determined to shake things up.

Anyway, the point is Labour are throwing this number around as fact which it is not.

Edited by HKOwen (08 Sep 2022 11.56am)

 


Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.

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View steeleye20's Profile steeleye20 Flag Croydon 08 Sep 22 12.52pm Send a Private Message to steeleye20 Add steeleye20 as a friend

Gentlemen, I give you Bloomberg:-

[Link]

 

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View HKOwen's Profile HKOwen Flag Hong Kong 08 Sep 22 1.30pm Send a Private Message to HKOwen Add HKOwen as a friend

That's the same article I read, totally assumptive yet Starmer throwing out the number as fact.

I would certainly agree it is not a global figure as I noted earlier so my error there.

I have amended the OP accordingly

Edited by HKOwen (08 Sep 2022 1.33pm)

 


Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.

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View PalazioVecchio's Profile PalazioVecchio Flag south pole 08 Sep 22 1.45pm Send a Private Message to PalazioVecchio Add PalazioVecchio as a friend

Originally posted by The Dolphin

if inflation suddenly falls .

yeah, just after Millwall win the Champions League

 


7 points from Manchester last season

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View Willo's Profile Willo Flag South coast - west of Brighton. 08 Sep 22 1.48pm Send a Private Message to Willo Add Willo as a friend

The Labour communications strategy is to keep stressing the "170 Billion" of profits,a figure they want us all to dwell on.

This is totally misleading as it relates to GLOBAL profits.
Only a fraction is taxable in the UK - Total profits for UK energy companies in the UK was 30 bill in 2021,this will rise to 40 bill in 2022 and this is already taxed at a rate of 65%.

 

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View steeleye20's Profile steeleye20 Flag Croydon 08 Sep 22 2.08pm Send a Private Message to steeleye20 Add steeleye20 as a friend

Originally posted by Willo

The Labour communications strategy is to keep stressing the "170 Billion" of profits,a figure they want us all to dwell on.

This is totally misleading as it relates to GLOBAL profits.
Only a fraction is taxable in the UK - Total profits for UK energy companies in the UK was 30 bill in 2021,this will rise to 40 bill in 2022 and this is already taxed at a rate of 65%.

No it does not and we have already covered this.

 

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View Willo's Profile Willo Flag South coast - west of Brighton. 08 Sep 22 2.16pm Send a Private Message to Willo Add Willo as a friend

Originally posted by steeleye20

No it does not and we have already covered this.

You have your sources and I have mine.

I have perused the work of Joe Armitage,Lead Analyst at 'Global Counsel'.
We are clearly on opposite sides of the house on this matter.
I support Liz Truss, I am opposed to a further Windfall Tax, nothing more I can add to this discussion.


Edited by Willo (08 Sep 2022 2.30pm)

 

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View crystal-purley's Profile crystal-purley Flag Purley 08 Sep 22 3.27pm Send a Private Message to crystal-purley Add crystal-purley as a friend

Originally posted by HKOwen

Labour's " Red Bus " mantra on energy companies have 170bn in profits, this is an assumptive figure , so totally misleading and they know it.This number was tweeted out by Starmer, Miliband and Rayner .

Labour's own number on additional windfall tax revenue was 8 billion, which a lot of cash but less than 10% of the likely cost of the energy bail out which Truss is likely to announce.

If there is an alternative to borrowing then someone please say what it is.

This in economic terms is war time event, we need to look forward not back.

You cannot shrink an economy to health.

Labour are of course unhappy that the Govt is adapting it's policies to the situation, which may well include policies Labour have been asking for.

They realise that in a couple of years if things have improved voters won't care who claims authorship of the solutions

* I have amended this post for accuracy

Edited by HKOwen (08 Sep 2022 1.32pm)

All true presumably but not quite as untrue as the Boris bus


 


Just retired and almost mastered decorating with the gardening slowly improving

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