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robinthehood
Hacker
As a regular commuter I can say with authority that the rail system is a crock of crap.
harpo_72
Journeyman Pro
Tell that to apple ... it autocorrects everything I have so many confusing S’s and Z’sIt's 'you're' you illiterate moron. Fact.
ColchesterFC
Journeyman Pro
I was made redundant in 2009 and started working freelance/as a contractor in the oil and gas industry and have since moved mainly into the offshore wind industry. When I started I was going to be classed as "self employed/sole trader" and would have been paying tax and NI on my earnings. I was told by the tax office that I couldn't do this and had to register myself as a limited company for my invoices to paid through. This meant that instead of paying income tax and NI, I pay corporation tax on my profits. I pay myself (and Mrs Colch as she is also on the books as company secretary) a basic wage each month and on top of this pay dividends from the company profits every 3 or 4 months.
If, as an example, after wages and expenses I have made 50k "profit" for the year then I pay corporation tax on that amount. Currently, at 19%, that would be £9.5k per year. At 21% it would be £10.5k per year and at 26% it would be £13k per year. The "profit" is what gets paid to me and Mrs Colch in the form of dividends. It gets a little more complicated than that as previously I didn't have to pay any personal tax on the dividends I pay myself. Recently the Tories have brought in a tax on dividends which means that on top of my corporation tax I have to pay around £2.5 to £3k per year in personal tax as well. Fortunately I don't pay Mrs Colch enough for her to have to pay tax as she is under the threshold and also has her own business/hobby that makes a small loss each year and gets offset against her earnings.
SocketRocket
Ryder Cup Winner
Its a graph showing national borrowing year on year
Fade and Die
Medal Winner
Do you think your business will be better off with Labour or Conservative running the economy? (I know you do a lot of trade with Europe but you have to accept that we are leaving whoever wins as labours plans to nationalise industries is not compatible with being a member of the EU.)
The rise in corporation tax alone (which can lead to lower wages and an increase in prices) should put all business owners off, not to mention a rise in income tax, scrapping the married couples allowance and a rise in inheritance tax which will affect a lot of people that are not business owners. I can see why the most left wing manifesto in a generation would appeal to the great unwashed, but I find it disturbing that it would appeal to anyone with the slightest degree of business intelligence, its obvious it would be physically and fiscally impossible to raise the sort of money that Corbyn & Co pledge they will spend without destroying the whole economy!
SocketRocket
Ryder Cup Winner
I guess you are too young to know what state the railways were in when nationalised.
D
Deleted member 16999
Guest
OK, laid up with injury so I have today tried to read all 105 pages of The Labour Party Manifesto.
It reads very well, it almost feels like a fairy story at times, do I believe it? I’d like to, but too old not to be cynical.
It’s, imo, asking us all to take a big risk for a better future for all.
Bottom line, too much at once, definitely would like to see any of the Parties introduce measures that would protect and look after the weakest in society and genuinely believe there are some positives in their Manifesto.
It’ll win over some votes, but not enough to win a clear majority.
It reads very well, it almost feels like a fairy story at times, do I believe it? I’d like to, but too old not to be cynical.
It’s, imo, asking us all to take a big risk for a better future for all.
Bottom line, too much at once, definitely would like to see any of the Parties introduce measures that would protect and look after the weakest in society and genuinely believe there are some positives in their Manifesto.
It’ll win over some votes, but not enough to win a clear majority.
harpo_72
Journeyman Pro
So if you looked at your situation from a permanent employee state .. would you earn less but have benefits or would you earn the same and have a same level of take home pay?
D
Deleted member 16999
Guest
Cheers, absolutely clueless on what you’ve posted, thanks for the clarification.
harpo_72
Journeyman Pro
They were in a poor state ? How could that happen ??
Oh under investment and then sold off to pay off some one else in tax cuts.
Better factcheck that though as I have jumped to conclusions based on historical events.
yeah you didn;t answer the question did you.
The simple answer is that a company will need to generate a profit and share dividend. The act of generating the profit and share dividend is essential to it maintaining position in the market to ensure it can borrow money from banks and receive investment(share holders buying more share, if there's a share issue).
There's 2 ways of increasing the profit level. Sell more product or reduce costs. If you assume that a company sells the same amount of product at the market rate. i.e. a price the market will accept, but costs go up, the profits and share dividend will go down.
Corporation Tax is a cost. If costs go up and the market won't buy anymore product decisions have to be made about savings elsewhere in the business. Reduced pay rises. No pay rises. But that doesn't reduce the costs. Redundancies...
100 shop floor workers might have 2 supervisors and 1 manager. The decision is to reduce the production staff from 100 to 80, and the supervisors from 2 to 1 but they still need a manager.
That's the short, simple version but essentially accurate.
SocketRocket
Ryder Cup Winner
Was our austerity not to reduce our debts, we haven't even considered paying back what we owe.
SocketRocket
Ryder Cup Winner
The answer is that the railways were losing massive amounts of money, were over staffed and inefficient. Typical of nationalised industry. Hope that helps
D
Deleted member 16999
Guest
That hasn’t changed under privatisation except Governments have still had to step in to help the “ownersâ€
With JC at the head your first question only has one answer. There is a bigger picture than just the economy of course but yes, it's not a tricky question.
ColchesterFC
Journeyman Pro
As an employee I would almost certainly earn less but have benefits such as sick pay, pension contributions, paid holiday etc. It would be difficult to calculate if my take home pay would be more or less, as at the minute I get to decide how many days I work each year, and as an employee I wouldn't be in control of that. I get paid a rate for each day I work, normally around 150/160 days per year. As an employee I would get a basic salary and then an uplift for each day I spent offshore.
ColchesterFC
Journeyman Pro
To reduce the deficit not the debt. Our debt has actually risen during austerity, it just hasn't risen by as much as it would have done without it.
SocketRocket
Ryder Cup Winner
The railways were in very poor shape when nationalised and losing money at an unsustainable level, nationalised industry tends to be poorly run and a jobsworths haven with unions paralysing modernisation and enterprise. Best not to go there.
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