If you want something bad enough, work for it
South Coast, UK
Joined January 2012
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Rob Froome retweeted
I genuinely think this comment, said with such certainty, sums up the entire problem with the Labour Party. None of them understand business.
'I don't think employers are working people.'
@CamillaTominey grills Chief Secretary to the Treasury, Emma Reynolds MP, over whether Labour has breached its manifesto pledge in the Budget.
📺 Freeview 236, Sky 512, Virgin 604
Rob Froome retweeted
Slavery was an evil in which people from every continent and region participated. We should be honest about the whole history, not select the parts that are politically convenient today, especially given Britain's leading role in ending the transatlantic slave trade.
If Caribbean countries are asking Britain for a formal apology for Britain’s role in the transatlantic slave trade, will they also be asking the same of the descendants of African kingdoms, rulers and merchants who captured, sold and profited from the trade?
On demands for reparations, whether through cash or debt relief, we have been down this track before. Twenty-five years ago, Jubilee 2000, Drop the Debt and Make Poverty History argued that cancelling the debts of poorer countries would give them a fresh start. More than $100 billion of debt was eventually written off, but many of those countries have since built up even bigger debts. Labour are already spending too much on Britain's welfare state, now is not the time for Andy Burnham to be providing global welfare.
There is no reason British taxpayers today should be held financially responsible for things that happened generations before any of us were born. And I have even less patience for political elites in commonwealth countries who don’t know how to make their own citizens prosperous now looking for another opportunity to blame Britain.
As Prime Minister, Andy Burnham should be Britain’s greatest defender. Instead, he is writing articles saying we need to confront our history (as if we haven't done enough of that) and considering another formal historical apology. Tony Blair already expressed Britain’s deep sorrow and regret for our role in the slave trade nearly twenty years ago. There is no need to do so again.
This is all another navel-gazing distraction. The Commonwealth should be looking forward, not endlessly backwards. That means economic partnerships to make us all richer and deeper military and security cooperation against common threats. If every Commonwealth summit becomes an exercise in presenting Britain with demands for cash then we need to start asking if it is worth the effort.
Rob Froome retweeted
Here we have a Socialist who is unhappy with the effects of Socialism.
🙄
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Rob Froome retweeted
What sort of country gives loads of its people's money to other countries, then pleads poverty to its people and taxes them into oblivion?
This one 🇬🇧
Rob Froome retweeted
Update:
In the 27 months since Labour came to power, we've seen;
• Employer National Insurance increased from 13.8% to 15%.
• The employer NI threshold cut from £9,100 to £5,000.
• The freeze on Income Tax and National Insurance thresholds extended to 2031.
• Capital Gains Tax increased from 10% and 20% to 18% and 24%.
• Business Asset Disposal Relief increased from 10% to 14%, then 18% – and now its lifetime limit halved to £500,000.
• Investors’ Relief raised to 18% and its lifetime limit cut from £10 million to £1 million.
• CGT relief on sales to Employee Ownership Trusts halved.
• Carried interest taxation increased and moved into the Income Tax regime.
• Dividend tax rates increased by two percentage points.
• Savings-income tax rates increased by four percentage points.
• Property-income tax rates increased by four percentage points.
• VCT income tax relief cut from 30% to 20%.
• Most unused pension funds brought into the Inheritance Tax net.
• Agricultural and Business Property Relief capped.
• Inheritance Tax thresholds frozen until 2031.
• The non-dom regime replaced with a tougher residence-based system.
• VAT imposed on private school fees.
• Business-rates relief removed from private schools.
• The Stamp Duty surcharge on second homes and buy-to-let raised from 3% to 5%.
• The Furnished Holiday Lettings regime abolished.
• A new annual surcharge on homes worth £2 million or more.
• Pension salary-sacrifice NI relief capped at £2,000 a year.
• The bank surcharge doubled.
• Capital allowances for plant and machinery cut twice.
• Online gaming duty almost doubled.
• The Energy Profits Levy increased and extended, and its investment allowance scrapped.
• Vaping Products Duty brought in and tobacco duties increased above inflation.
• Vehicle Excise Duty increased for many new cars, with electric vehicles brought in.
• A pay-per-mile tax on electric and plug-in hybrid cars legislated for 2028.
• Air Passenger Duty increased.
• Making Tax Digital extended to more landlords and self-employed people.
Together they represent one of the biggest transfers of wealth from households and businesses to the Treasury in decades – with little to show for it in public services.
Whether you're a business owner employing staff, a parent paying school fees, a farmer planning succession, an entrepreneur building wealth or simply someone trying to save for your family’s future...
- You keep less of what you earn.
- You keep less of what you invest.
- You leave less for your family.
Death by a thousand cuts.
Rob Froome retweeted
The last Tory parliament was the worst on record for stagnant living standards.
Hold my beer, says this Labour Parliament.
We’re on track to be even worse.
Source: OBR
Rob Froome retweeted
🚨NEW: A UK bank chief executive, reacting to John Healey's decision to raise the bank's profit surcharge said:
"Taxing the engines of growth to reduce VAT on gherkins is end-of-Rome level of stupidity"
[@FT]
Rob Froome retweeted
🚨Sneaked out by OFGEM this morning, a warning for the first time EVER they cannot guarantee that demand will be met on a peak day in winter.
Let’s be clear what that means. They cannot guarantee that homes will be warm, lights come on or industry function on a peak day this winter.
And why? Because of an accelerated decline in domestic gas supply from the North Sea.
So what is the solution? For British bill payers to pay more, to IMPORT more from Europe (specifically Belgium) to keep the lights on in Britain.
Britain. A country with vast supplies of gas, untapped, deliberately due to Labour policy now going cap in hand to Europe and paying vast sums to import foreign gas.
It is utterly outrageous. You couldn’t make it up.
ofgem.gov.uk/sites/default/f…
Rob Froome retweeted
Increasing domestic gas production WOULD lower UK gas prices
Prices are set using marginal pricing
UKCS gas is obviously cheaper than LNG imports
More UKCS gas means the most expensive LNG cargoes are displaced which means the marginal source of supply is cheaper
Which means the gas price is cheaper
Jackdaw alone could displace price setting LNG for between 2 and 4 months of the year which would be a bigger reduction than simply removing the most expensive LNG
My report sets out the mechanism of price formation from first principles... You should read it
watt-logic.com/wp-content/up…
Rob Froome retweeted
A week before the first Burnham-Healey Budget and the UK inflation rose to 3.5% in the year to September, from 3.1% for the year to August. Third successive increase.
Two takeaways:
It’s heading towards 4%.
Interest rates will continue to rise and remain elevated for the foreseeable future.
Rob Froome retweeted
Exactly as I have been saying!
IMF: Healey should cut welfare spending instead of taxing banks
telegraph.co.uk/business/202…
Rob Froome retweeted
Labour still haven’t learnt that taxes have consequences. John Healey and Andy Burnham need to learn quickly.
Rachel Reeves thought her jobs tax would be paid by businesses. Instead, workers paid the price through job losses and smaller pay rises.
Now Labour want to tax the banks because it looks like an easy way to raise money, doesn’t it?
But banks lend money to people buying homes and businesses creating jobs. Millions of people’s pensions are invested in them too.
Higher taxes mean a smaller pension for you, less lending and less investment, meaning fewer jobs and ordinary people paying the price again.
Labour can’t act shocked when this happens - they have been warned.
Rob Froome retweeted
These girls are absolute heroines standing up for women's and girls' rights. All credit to them.
If only more adults had the courage to do the same.
Tonight in Washington state, nearly half the Camas High School girls cross country team refused to compete against a boy on their own team.
He switched from the boys' team just one month ago.
Now he's placing in every meet.
Courage always wins.
@xx_xyathletics
Footage: @KnownHeretic
Rob Froome retweeted
There’s a lot of self-serving spin emanating from the UK government about how virtuous it is re fiscal consolidation.
Here are the facts.
Labour inherited an OBR budget deficit forecast of £87bn (3.1% GDP) for FY2024/25. After R Reeves’ 1st disastrous budget the actual deficit was £153bn (5.2%). Massive jump.
Labour inherited OBR budget deficit of £77bn (2.7%) for FY2025/26. After RR’s disastrous 2nd budget that turned out to be £133bn (4.3%).
So in its first two years it added over £120bn to borrowing/deficit (despite huge increase in taxes).
The OBR forecast it inherited for this FY2026/27 was £69bn (2.3%). It is now forecast to be £116bn (3.3%). That looks like an underestimate. More likely to be closer to £130bn again.
Inherited budget forecast for 2027/28: £51bn (1.6%). Latest forecast: £97bn (2.9%).
Inherited budget forecast for 2028/29: £39bn (1.2%). Latest forecast: £86bn (2.5%).
Far from fiscal consolidation Labour is forecast to borrow an incredible £260bn more over the 5 years from 2024/25 than the forecasts it inherited. Despite the tax rises.
Which will continue. Alone among G7 countries the IMF projects the UK tax burden to rise by 3.7% of GDP 2025-31. The only other country with a rising tax burden is France (0.8%). Italy is static. Rest of G7 have falling tax burden.
And let’s not forget Labour’s so-called ‘fiscal consolidation’ is all backloaded to end-decade. Unlikely to happen. So taxes will have to rise by even more.
Rob Froome retweeted
🚨NEW: Labour is raising taxes at the fastest pace of any Western country, according to the International Monetary Fund
Raids on households and businesses will push Britain’s tax burden to a peacetime high of 41.9% of GDP by the start of next year
Rob Froome retweeted
UK 30Y gilt yield surges past 6%. The bond market is giving its verdict on Western economies in general and Labour's economic mismanagement in particular. Something is going to break soon.
Rob Froome retweeted
🚨 NEW: Rachel Reeves has been voted the worst Chancellor in recent history in a poll by AJ Bell
Rob Froome retweeted
Britain loses over half its billionaire wealth in two years bit.ly/4AMeQj8
Rob Froome retweeted
🚨 BREAKING: Britain’s second richest billionaire, David Reuben, is the latest major net taxpayer to leave the UK.
He is worth around £28bn.
That means even more pressure on working families to pay for Britain’s ever-expanding welfare bill.
thetimes.com/uk/politics/art…