FabSwingers.com > Forums > Politics > Yeah… erm… those tax cuts are not happening
Yeah… erm… those tax cuts are not happening
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By *abio OP Man
over a year ago
Newcastle and Gateshead |
Just reading the BOE briefing notes…
As well you as the 50 basis point increase rate increase to £1.75%…..
They are now predicting 5 quarters of recession with GDP reducing by 2.1%…. And inflation now set to peak in the next few months at 13.3 %
Man… screwed…. Big time…..  the minutes of the meeting are horrifying
Liz’s tax cuts are going to make the situation much much worse… and they are going to spout the words project fear! |
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By *abio OP Man
over a year ago
Newcastle and Gateshead |
In real terms we are likely to be 4-5% in living standards .
Inflation is likely to be around 9% for the next 2 years before being to drop towards the 2% target
That pay restraint out of the window!!! We are going to see strike after strike after strike!
If I was a conservative I don’t think I’d want to be the next leader.. I think I’d want to be the one after! |
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By *ovebjsMan
over a year ago
Bristol |
Short sighted governments not investigating in uk run energy is a lot of the problems.
Guess who owns and runs the biggest offshore wind farms ? As it’s certainly not the uk
We keep being told that the uk is going to build more and smaller nuclear power stations but nothing is happening.
No investment by the country = other countries making the money.
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By *otMe66Man
over a year ago
Terra Firma |
"In real terms we are likely to be 4-5% in living standards .
Inflation is likely to be around 9% for the next 2 years before being to drop towards the 2% target
That pay restraint out of the window!!! We are going to see strike after strike after strike!
If I was a conservative I don’t think I’d want to be the next leader.. I think I’d want to be the one after!"
A lot of the news and conversations about inflation goes over peoples heads, unless they have an accountant that is looking out for them. I think there should be more financial guidance available from government sources to help people make more considered decisions.
As an example, if someone has shares, bonds or other investments (they don't need to be huge) would it be a wise move to cash in and move into a savings account for 2 years?
If someone was thinking of buying a house, is it best to hold back and keep saving until this is over. What is the likely benefits of that?
I don't know the answers but I would like to see some advice come from our government to the nation on these things.
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By (user no longer on site)
over a year ago
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"In real terms we are likely to be 4-5% in living standards .
Inflation is likely to be around 9% for the next 2 years before being to drop towards the 2% target
That pay restraint out of the window!!! We are going to see strike after strike after strike!
If I was a conservative I don’t think I’d want to be the next leader.. I think I’d want to be the one after!
A lot of the news and conversations about inflation goes over peoples heads, unless they have an accountant that is looking out for them. I think there should be more financial guidance available from government sources to help people make more considered decisions.
As an example, if someone has shares, bonds or other investments (they don't need to be huge) would it be a wise move to cash in and move into a savings account for 2 years?
If someone was thinking of buying a house, is it best to hold back and keep saving until this is over. What is the likely benefits of that?
I don't know the answers but I would like to see some advice come from our government to the nation on these things.
"
Why do you need advice from the government, they are the last people to give you good advice.
There's lot of good financial information out there if you are savvy enough to do this. But it requires a bit of work from you, not someone telling you what to do. |
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By (user no longer on site)
over a year ago
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"Just reading the BOE briefing notes…
As well you as the 50 basis point increase rate increase to £1.75%…..
They are now predicting 5 quarters of recession with GDP reducing by 2.1%…. And inflation now set to peak in the next few months at 13.3 %
Man… screwed…. Big time….. the minutes of the meeting are horrifying
Liz’s tax cuts are going to make the situation much much worse… and they are going to spout the words project fear!"
This search for continuous growth, increasing personal and government debt, continuous spending, house price rises can't go on endlessly without corrections.
Recessions are like wild fires, when a forest becomes decade and has too much deadwood. A fire is actually good for getting rid of decay, and encouraging fresh growth. In economics these deadwood are the over borrowed companies and people who keep borrowing to spend. Unfortunate but necessary. |
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By *ackal1Couple
over a year ago
Manchester |
Liz will keep spouting the same rubbish .
Just as with her new trade deals she got them done!! The fact they add nothing to our economy is beside the point. When questioned in a select committee she couldn’t tell the committee any details about the deal with Australia.
She said in response to the ratio of one pound gained in new deals to every £245 lost that we had to believe it will get better. She says she believes that trade with Australia and the far east will increase by 65% over the next few decades. So there’s another 65p on the Australia deal if she’s right,
In total if all the aims of the new deals including the US, India and the Far East come off we will recover £18 of the £ 245 lost.
But it’s ok because Liz thinks it’s going to be OK , especially if we import less cheese.
So don’t expect any reality talks from Liz or Rishi. Just more lies. This is going to hurt a lot of people. If inflation hits highs of 13–17% and stays high and interest rates increase on houses by 7% by Liz’s own figures that’s high home repossession territory.
Good luck believing.  |
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By *otMe66Man
over a year ago
Terra Firma |
"In real terms we are likely to be 4-5% in living standards .
Inflation is likely to be around 9% for the next 2 years before being to drop towards the 2% target
That pay restraint out of the window!!! We are going to see strike after strike after strike!
If I was a conservative I don’t think I’d want to be the next leader.. I think I’d want to be the one after!
A lot of the news and conversations about inflation goes over peoples heads, unless they have an accountant that is looking out for them. I think there should be more financial guidance available from government sources to help people make more considered decisions.
As an example, if someone has shares, bonds or other investments (they don't need to be huge) would it be a wise move to cash in and move into a savings account for 2 years?
If someone was thinking of buying a house, is it best to hold back and keep saving until this is over. What is the likely benefits of that?
I don't know the answers but I would like to see some advice come from our government to the nation on these things.
Why do you need advice from the government, they are the last people to give you good advice.
There's lot of good financial information out there if you are savvy enough to do this. But it requires a bit of work from you, not someone telling you what to do."
I didn't say I need the advice, I said I would like to see the government start to advise the nation.
You may mistrust the government and trust financial advisors, that is your choice, but others will feel differently. As for being savvy enough, there are plenty of people who simply aren't, they are the people who need support the most, if they can get more out of their money, what is the harm in that? |
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By (user no longer on site)
over a year ago
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"In real terms we are likely to be 4-5% in living standards .
Inflation is likely to be around 9% for the next 2 years before being to drop towards the 2% target
That pay restraint out of the window!!! We are going to see strike after strike after strike!
If I was a conservative I don’t think I’d want to be the next leader.. I think I’d want to be the one after!
A lot of the news and conversations about inflation goes over peoples heads, unless they have an accountant that is looking out for them. I think there should be more financial guidance available from government sources to help people make more considered decisions.
As an example, if someone has shares, bonds or other investments (they don't need to be huge) would it be a wise move to cash in and move into a savings account for 2 years?
If someone was thinking of buying a house, is it best to hold back and keep saving until this is over. What is the likely benefits of that?
I don't know the answers but I would like to see some advice come from our government to the nation on these things.
Why do you need advice from the government, they are the last people to give you good advice.
There's lot of good financial information out there if you are savvy enough to do this. But it requires a bit of work from you, not someone telling you what to do.
I didn't say I need the advice, I said I would like to see the government start to advise the nation.
You may mistrust the government and trust financial advisors, that is your choice, but others will feel differently. As for being savvy enough, there are plenty of people who simply aren't, they are the people who need support the most, if they can get more out of their money, what is the harm in that? "
And I have good cause not to trust governments, and so should anyone else. You know how many people lost money buying endowment policies with interest only mortgages. Told they would have money left over on maturity after paying of the mortgage. Only to have shortfalls.
The government will only give guidance after the horse as bolted the stable. Then only after their friends in financial services have fleeced the common man. But that's ok, because financial services is a service to big to fail.
All I will say is, in this day and age, if your not willing to gain some financial knowledge and make your own decisions. Instead depend on mainstream media and government mouthpieces to guide you. Well good luck to you all. You will definitely need it more than ever in the time approaching. |
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By *ackal1Couple
over a year ago
Manchester |
BOE chairman says there’s underlying inflation due to the lack of workers. Firms are putting up wages to try and get staff which then leads to higher prices.
So guess what Brexit has made our woes even worse!!
Liz says tax cuts will help but the lowest paid won’t be helped they will just suffer even more .
Fuck you Farage and Boris. |
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By *ovebjsMan
over a year ago
Bristol |
"BOE chairman says there’s underlying inflation due to the lack of workers. Firms are putting up wages to try and get staff which then leads to higher prices.
So guess what Brexit has made our woes even worse!!
Liz says tax cuts will help but the lowest paid won’t be helped they will just suffer even more .
Fuck you Farage and Boris. "
Do you think it’s only the uk that is gong through this?
This green agenda is causing a lot of the problems net zero by 2050 ?
Don’t make me laugh the uk is killing itself virtue signalling and going broke doing it .
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By *ackal1Couple
over a year ago
Manchester |
"BOE chairman says there’s underlying inflation due to the lack of workers. Firms are putting up wages to try and get staff which then leads to higher prices.
So guess what Brexit has made our woes even worse!!
Liz says tax cuts will help but the lowest paid won’t be helped they will just suffer even more .
Fuck you Farage and Boris.
Do you think it’s only the uk that is gong through this?
This green agenda is causing a lot of the problems net zero by 2050 ?
Don’t make me laugh the uk is killing itself virtue signalling and going broke doing it .
"
Read what I said .
I said it’s making it worse. We are the worst performing for a reason or do you think that’s just an unfortunate coincidence .
If the bank are raising interest rates partly in their own words “due to shortages of workers”. Ask yourself why is there a shortage? Where have they all gone ?
As for net zero that’s deflection if you compare it to oil and gas tax breaks it’s a much smaller financial figure. It’s not implemented very well by any means and I can vouch for that personally.
The agenda of this and previous governments has never been about what’s good for the vast majority of people in this country. The damage may be getting to a critical point as everywhere we look we have problems . Our debt is now becoming a very very big issue.
What happened to those promises MPs made 13 years ago?
More debt than ever and services failing .
The lies are getting worse because they are lost .
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2 sides to this - not just in the uk, but in most countries - raise taxes or cut/maintain taxes?
Economists on both sides with equally strong calculations and justifications.
Who’s right ? Nobody can say for certain.
My gut feeling - cut/maintain taxes. However It does feel that either way there is a huge sacrifice / amount of pain to be felt whichever route is taken.
Best thing we can do - batten down the hatches and make preparations appropriate for our own circumstances. |
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By *ackal1Couple
over a year ago
Manchester |
"2 sides to this - not just in the uk, but in most countries - raise taxes or cut/maintain taxes?
Economists on both sides with equally strong calculations and justifications.
Who’s right ? Nobody can say for certain.
My gut feeling - cut/maintain taxes. However It does feel that either way there is a huge sacrifice / amount of pain to be felt whichever route is taken.
Best thing we can do - batten down the hatches and make preparations appropriate for our own circumstances. "
Good points
If people act now while they can afford to pay for changes it may save them a lot of pain. |
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By *abio OP Man
over a year ago
Newcastle and Gateshead |
If the pain of a recession is likely to last the next 5 quarters… that takes you right up to a general election! Plus tax cuts are going to make the debt problem way worse as you are going to be paying more debt off at a much much higher interest rate! Or you are going to have to shell out more on government bonds!
With inflation likely to be as high as 13% and generally the next year hovering around 9% … the RMT wanting 7% for its members doesn’t look like being the most unreasonable right now….. does it!! |
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By *eroy1000Man
over a year ago
milton keynes |
"2 sides to this - not just in the uk, but in most countries - raise taxes or cut/maintain taxes?
Economists on both sides with equally strong calculations and justifications.
Who’s right ? Nobody can say for certain.
My gut feeling - cut/maintain taxes. However It does feel that either way there is a huge sacrifice / amount of pain to be felt whichever route is taken.
Best thing we can do - batten down the hatches and make preparations appropriate for our own circumstances. "
I am a bit different in that although I don't like sunak much I think he has the better financial policy or should I say the least worst policy. It definitely not UK specific and many countries have the same concerns. Even Labour shortages are affecting other countries. A problem at the moment with comparisons is that not all countries have recovered from the pandemic. It might have changed but last time I looked, Germany was still below pre pandemic levels so they still have some rebound to go. Anyway the predictions today are pretty scary. Not guaranteed to be correct but maybe buckle up for a rough ride |
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By (user no longer on site)
over a year ago
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This situation is totally one beyond our control.
The only thing we can do is hunker down, cut back, think about whether that purchase can wait. Yes it will reduce demand, it will be painful but it needs to happen. We also shouldn’t be obsessed with immediate growth, rather a steady pace.
Hopefully this recession will expose bad economic practices again, the banks should be more resilient to weather the storm, interest rate hikes will deter people from borrowing more.
Also it should force governments to cut the rhetoric out and consider a less hawkish approach to certain situations. Like extreme tax cuts or extreme tax rises.
Like Bill Clinton once declared “it’s the economy!, stupid!” Or something along those lines. |
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"BOE chairman says there’s underlying inflation due to the lack of workers. Firms are putting up wages to try and get staff which then leads to higher prices.
So guess what Brexit has made our woes even worse!!
Liz says tax cuts will help but the lowest paid won’t be helped they will just suffer even more .
Fuck you Farage and Boris.
Do you think it’s only the uk that is gong through this?
This green agenda is causing a lot of the problems net zero by 2050 ?
Don’t make me laugh the uk is killing itself virtue signalling and going broke doing it .
Read what I said .
I said it’s making it worse. We are the worst performing for a reason or do you think that’s just an unfortunate coincidence .
If the bank are raising interest rates partly in their own words “due to shortages of workers”. Ask yourself why is there a shortage? Where have they all gone ?
"
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By *andy 1Couple
over a year ago
northeast |
"In real terms we are likely to be 4-5% in living standards .
Inflation is likely to be around 9% for the next 2 years before being to drop towards the 2% target
That pay restraint out of the window!!! We are going to see strike after strike after strike!
If I was a conservative I don’t think I’d want to be the next leader.. I think I’d want to be the one after!
A lot of the news and conversations about inflation goes over peoples heads, unless they have an accountant that is looking out for them. I think there should be more financial guidance available from government sources to help people make more considered decisions.
As an example, if someone has shares, bonds or other investments (they don't need to be huge) would it be a wise move to cash in and move into a savings account for 2 years?
If someone was thinking of buying a house, is it best to hold back and keep saving until this is over. What is the likely benefits of that?
I don't know the answers but I would like to see some advice come from our government to the nation on these things.
Why do you need advice from the government, they are the last people to give you good advice.
There's lot of good financial information out there if you are savvy enough to do this. But it requires a bit of work from you, not someone telling you what to do.
I didn't say I need the advice, I said I would like to see the government start to advise the nation.
You may mistrust the government and trust financial advisors, that is your choice, but others will feel differently. As for being savvy enough, there are plenty of people who simply aren't, they are the people who need support the most, if they can get more out of their money, what is the harm in that? "
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"BOE chairman says there’s underlying inflation due to the lack of workers. Firms are putting up wages to try and get staff which then leads to higher prices.
So guess what Brexit has made our woes even worse!!
Liz says tax cuts will help but the lowest paid won’t be helped they will just suffer even more .
Fuck you Farage and Boris.
Do you think it’s only the uk that is gong through this?
This green agenda is causing a lot of the problems net zero by 2050 ?
Don’t make me laugh the uk is killing itself virtue signalling and going broke doing it .
"
The "green agenda" would save the country millions, and we should have started the transition to renewables decades ago. We'd be pretty much be energy Independent by now and not impacted by the rise in fossil fuel prices.
The miniscule green subsidies are dwarfed by what's given to prop up the fossil fuels industry.
The UK is woefully behind in this area. That you think this is virtue signalling, says a lot about the age of misinformation that we live in now. |
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"The "green agenda" would save the country millions, and we should have started the transition to renewables decades ago. We'd be pretty much be energy Independent by now and not impacted by the rise in fossil fuel prices."
That's just not true. Renewable energy is lovely, but it isn't reliable. The wind sometimes stops blowing, and the sun goes away at night. There is no method of storing electricity at grid level, so we would still need fossil fuels.
If we'd started ages ago, we'd be in a better position by now, but we wouldn't be energy independent, and we'd still need fossil fuels. |
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"The "green agenda" would save the country millions, and we should have started the transition to renewables decades ago. We'd be pretty much be energy Independent by now and not impacted by the rise in fossil fuel prices.
That's just not true. Renewable energy is lovely, but it isn't reliable. The wind sometimes stops blowing, and the sun goes away at night. There is no method of storing electricity at grid level, so we would still need fossil fuels.
If we'd started ages ago, we'd be in a better position by now, but we wouldn't be energy independent, and we'd still need fossil fuels."
We'd be a lot closer to energy independence. And image if the government had subsided green energy as much as oil, coal and gas we'd be much more advanced. |
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"We'd be a lot closer to energy independence. And image if the government had subsided green energy as much as oil, coal and gas we'd be much more advanced."
Imagine if the government had pushed for nuclear all those years ago. We'd have a constant reliable energy source, and we'd be exporting to Europe to help them wean themselves off fossil fuels.
So what subsidies do you think coal, oil, and gas are getting, that green energy isn't? |
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"In real terms we are likely to be 4-5% in living standards .
Inflation is likely to be around 9% for the next 2 years before being to drop towards the 2% target
That pay restraint out of the window!!! We are going to see strike after strike after strike!
If I was a conservative I don’t think I’d want to be the next leader.. I think I’d want to be the one after!"
That is how they play it, the labour party bank bailout in 2009 but the 'tories' get the blame and are shouted at from the other bench 'labour' so they implemented austerity which they did not have to, and now with this government spending by the 'tories', 'labour' will get the gig to sort it out and all the time been shouted at by the 'tories' to sort the debt out. You could not make it up |
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"We'd be a lot closer to energy independence. And image if the government had subsided green energy as much as oil, coal and gas we'd be much more advanced.
Imagine if the government had pushed for nuclear all those years ago. We'd have a constant reliable energy source, and we'd be exporting to Europe to help them wean themselves off fossil fuels.
So what subsidies do you think coal, oil, and gas are getting, that green energy isn't?"
It's nothing to do with what I think. The financial support given to the fossil fuels industry is well documented.
Politico has a good article about it, as an example, from 11th November 2021.
That's just the UK. If you want to do expand it. 5.9 trillion USD was given in subsidies in 2020. There's some good information on the IMF website.
Seems like a lot of wedge paid to speed up climate change while propping up a whole industry, which already makes ridiculous profits. |
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By *rFunBoyMan
over a year ago
Longridge |
VAT needs to be cut to 15% or lower again. Tax cuts will not happen other than reversed NI changes.
Energy VAT should be halved at least as at 5% and tripling of prices, the income from VAT has also tripled.
Locked into a 10yr fixed mortgage 3yrs ago, many said I was stupid to pay the 1% higher rate than a short term.
Although, I expected this to happen last year due to Brexit, meaning the last 3 years I've paid more then I could have but the next 7yrs now look shaky so currently breaking even on the deal I took. Any higher and it will be those saying I was stupid will be the ones out of pocket. I did tell them, Global recession has been predicted for the last few years which was the reason for fixing. Now the USA is sneezing, the rest will catch a cold.
Any further increases, I'll end up better off with the benefit of fixed costs for the next 7yrs and fixed energy until Sept '24.
Sometimes, it's better to ignore advice and stick with gut feelings.
Storm clouds are gathering.. |
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"Politico has a good article about it, as an example, from 11th November 2021.
Can you give me the headline of the article, so that I have at least a small chance of finding it."
Some interesting reading on the house of lords library site.
"Oil and gas industry: outside interests"
On politico "UK refuses to join trade pact to end fossil fuel subsidies, eliminate tariffs on green goods"
On the IMF site "FOSSIL FUEL SUBSIDIES"
On Reuters "UK tax plan incentivizes oil, gas producers to pump more fossil fuels"
There's a wealth of different sites which published articles discussing this.
I fully expect to be reported for this, and possibly blocked for a while. So let's see.
But these are but a few stories that cover the topic of financial support given by the British government to the fossil fuels industry.
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"Politico has a good article about it, as an example, from 11th November 2021.
Can you give me the headline of the article, so that I have at least a small chance of finding it.
Some interesting reading on the house of lords library site.
"Oil and gas industry: outside interests"
On politico "UK refuses to join trade pact to end fossil fuel subsidies, eliminate tariffs on green goods"
On the IMF site "FOSSIL FUEL SUBSIDIES"
On Reuters "UK tax plan incentivizes oil, gas producers to pump more fossil fuels"
There's a wealth of different sites which published articles discussing this.
I fully expect to be reported for this, and possibly blocked for a while. So let's see.
But these are but a few stories that cover the topic of financial support given by the British government to the fossil fuels industry.
"
All 100% above board and totally legal it may not be lawful but we are talking legal so it is legitimised by the cross and the box. |
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"On the IMF site "FOSSIL FUEL SUBSIDIES"
On Reuters "UK tax plan incentivizes oil, gas producers to pump more fossil fuels""
All I can find on those sites are references to the changes to the Investment Allowance scheme. Are you classing that as a subsidy?
I would have thought that you would approve of that change. It gives oil and gas companies an incentive to invest in increasing their capacity, thus producing more oil and gas, and making the UK less dependent on other countries. Isn't that a good thing? |
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"On the IMF site "FOSSIL FUEL SUBSIDIES"
On Reuters "UK tax plan incentivizes oil, gas producers to pump more fossil fuels"
All I can find on those sites are references to the changes to the Investment Allowance scheme. Are you classing that as a subsidy?
I would have thought that you would approve of that change. It gives oil and gas companies an incentive to invest in increasing their capacity, thus producing more oil and gas, and making the UK less dependent on other countries. Isn't that a good thing?"
I didn't say it was subsidies.
Tax cuts and other financial incentives.
And no, we need to be moving away from fossil fuels. |
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"Companies get 130% tax relief on investment.
That is roughly 25p back for every £1 on capital expenditure."
"Imagine if they did that for renewable energies."
They do. It's a general UK scheme available to all companies. |
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"I didn't say it was subsidies."
You did say "image if the government had subsided green energy as much as oil, coal and gas", which sort of suggests that you think it's a subsidy.
"And no, we need to be moving away from fossil fuels."
Agreed, but the Investment Allowance is only in place for 2 years. It's a scheme to pump business back up after CoViD. Right now, we need oil and gas, and it's in short supply, so it makes sense to produce more of it. |
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"I didn't say it was subsidies.
You did say "image if the government had subsided green energy as much as oil, coal and gas", which sort of suggests that you think it's a subsidy.
And no, we need to be moving away from fossil fuels.
Agreed, but the Investment Allowance is only in place for 2 years. It's a scheme to pump business back up after CoViD. Right now, we need oil and gas, and it's in short supply, so it makes sense to produce more of it."
So your point is that I used the wrong word, otherwise it's good? |
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By *rFunBoyMan
over a year ago
Longridge |
Makes more sense to 'help to buy' Renewables at the point of use.
This not only reduces CO2 output, gas consumption but also directly cuts the cost of energy to the household.
Why subsidise an industry that will still supply electricity at full cost to the consumer.
The subsidy should be to assist upfront costs, not a gift then paid back over via fixed price per (suggested 15p) kwh it produces - using Windfall money.
I posted details of a petition a few weeks ago, bet no one even bothered to take a minute to read and sign it.
It is workable, viable and supports conversion to Renewables at zero cost to taxpayers. |
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"So your point is that I used the wrong word, otherwise it's good?"
No.
My point is, that when you said "The miniscule green subsidies are dwarfed by what's given to prop up the fossil fuels industry". That was just wrong. Fossil fuels don't get more subsidies than green energy. Quite the opposite.
And when you said "image if the government had subsided green energy as much as oil, coal and gas we'd be much more advanced", you were just wrong. Green energy gets some subsidies, and fossil fuels get none.
And when you said "... financial support given to the fossil fuels industry ...", you were just wrong. The fossil fuels industry doesn't get any special financial support. It gets the same support as any other company would.
And when you again said "financial support given to the fossil fuels industry", you were just wrong. All those articles talked about general UK company incentives that could be claimed by any business. Yes, fossil fuel companies can take advantage of them, but they aren't targetted at fossil fuel producers.
And when you said "Tax cuts and other financial incentives", you were just wrong. Gas and Oil companies have their profits ring-fenced, so they can't reduce them with losses from other areas, like most companies do. And they have to pay an extra 10% "Supplementary Charge". And they used to have to pay an extra Petroleum Revenue Tax as well.
I'm not trying to defend oil and gas companies here, I'm just saying that fossil fuels don't get subsidies or incentives, or tax breaks, or any other form of handout from the government. |
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"So your point is that I used the wrong word, otherwise it's good?
No.
My point is, that when you said "The miniscule green subsidies are dwarfed by what's given to prop up the fossil fuels industry". That was just wrong. Fossil fuels don't get more subsidies than green energy. Quite the opposite.
And when you said "image if the government had subsided green energy as much as oil, coal and gas we'd be much more advanced", you were just wrong. Green energy gets some subsidies, and fossil fuels get none.
And when you said "... financial support given to the fossil fuels industry ...", you were just wrong. The fossil fuels industry doesn't get any special financial support. It gets the same support as any other company would.
And when you again said "financial support given to the fossil fuels industry", you were just wrong. All those articles talked about general UK company incentives that could be claimed by any business. Yes, fossil fuel companies can take advantage of them, but they aren't targetted at fossil fuel producers.
And when you said "Tax cuts and other financial incentives", you were just wrong. Gas and Oil companies have their profits ring-fenced, so they can't reduce them with losses from other areas, like most companies do. And they have to pay an extra 10% "Supplementary Charge". And they used to have to pay an extra Petroleum Revenue Tax as well.
I'm not trying to defend oil and gas companies here, I'm just saying that fossil fuels don't get subsidies or incentives, or tax breaks, or any other form of handout from the government."
You seem to have said "wrong" a lot, without having read the articles. |
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"So your point is that I used the wrong word, otherwise it's good?"
"No.
My point is, that when you said "The miniscule green subsidies are dwarfed by what's given to prop up the fossil fuels industry". That was just wrong. Fossil fuels don't get more subsidies than green energy. Quite the opposite.
And when you said "image if the government had subsided green energy as much as oil, coal and gas we'd be much more advanced", you were just wrong. Green energy gets some subsidies, and fossil fuels get none.
And when you said "... financial support given to the fossil fuels industry ...", you were just wrong. The fossil fuels industry doesn't get any special financial support. It gets the same support as any other company would.
And when you again said "financial support given to the fossil fuels industry", you were just wrong. All those articles talked about general UK company incentives that could be claimed by any business. Yes, fossil fuel companies can take advantage of them, but they aren't targetted at fossil fuel producers.
And when you said "Tax cuts and other financial incentives", you were just wrong. Gas and Oil companies have their profits ring-fenced, so they can't reduce them with losses from other areas, like most companies do. And they have to pay an extra 10% "Supplementary Charge". And they used to have to pay an extra Petroleum Revenue Tax as well.
I'm not trying to defend oil and gas companies here, I'm just saying that fossil fuels don't get subsidies or incentives, or tax breaks, or any other form of handout from the government."
"You seem to have said "wrong" a lot, without having read the articles."
I did read the articles, which is how I know that they were all about the changes to Investment Allowance.
Or perhaps I missed something. Maybe you have an example of an advantage being given to UK fossil fuel producers that isn't available to other companies. Perhaps you'd like to tell us what it is. |
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