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So... where in the podcast did they say RR has ditched anything??

Keynesian commentator, with annoying mannerisms 😛

Labour lied? No ways. They weil! Bankrupt tbe country as the productive members of the workforce wil! leave and we will be mostly left with govdrnemnt jobs. They called tories sc um?

Is Peston talking bollocks again?

Exit tax don’t let them run away 15:04

The mess we are in is because we let people who think they can change the world but have no idea how to do so and end up making things worse. Don't vote until we have people that know how to improve things putting themselves up for election.

If you are genuinely concerned about some people not paying taxes (moving abroad, holding onto assets etc.) then the solution is a simplified system as simple systems have fewer loopholes! Reeves should massively simplify CGT (and other taxes) and equalise the above interest returns with employment taxes and other earning means.

Any relation to the rest is politics podcast?

It wont be long before we have a Labour induced fiscal disaster

He does have a series of irritating mannerisms. Not least is his inclination to keep glancing to his left to what is apparently someone or something off screen but is not the camera. Don’t ask me to explain why it is irritating, but as Ricky Gervais would say, it is.

This sounds like some kind of giant Ponzi scheme. When will gov'ts learn you can't run your current spending constantly in the red and that capital expenditure must have a clearly defined payback period, if investment doesn't create a positive fiscal return, it's not an investment it's just more borrowing. As Mr Micawber eloquently advised; "Annual income £20, annual expenditure £19, 19 shillings and sixpence, result happiness. Annual income £20 pounds, annual expenditure £20 pounds ought and sixpence, result misery."

Found this a difficult watch. Not sure is was the misery of the topic or the droning voice of Robert 🤯

Steph, how can you bear it?

This is like Gordon Brown's 'Bringing forward investment' i.e. Spending the next decades money over the next couple of years leading to even more severe austerity in the future.

This is just discussing the IFS video.

We left last year - writng was on the wall. We were happy back then. Now we're happy AND relieved. Even we didn't think Labour would be this bad.

Of course immigration from EU is immigration. They aren't British! Factchecker might help in preparing this show.

Fiscal rules apply to thee, not to me. R. REEVES Oct 2024

“Investing in public services” is the dumbest concept ever; public services are the real back hole in the British economy. We keep throwing money at them, with no expectation of measurable returns (profits).

Labour always find a way to more quickly run out of other people's money.

Labour, "Fiscal Rules" 😂😂😂😂.. Fiscal incontinence is baked in from the start.

Has Robert found out how Tax thresholds work since yesterday?

Just introduce a capital gains tax charge on money leaving the country. That then discourages people from moving their assets abroad.

Reeves is finding out that the public dont give 2 figs about fiscal rules. They just care about things being fixed and investment.

Economic activity doesn't create wealth Robert. Productivity creates wealth. Imagine 2 countries. Country A doubles the rate at which they buy and sell the same old stuff from one person to another. Country B makes twice as much stuff. Which Country has the most intense in wealth.

Fiscal policies are nothing to do with monetary policy. Monetary policies cause inflation. Inflation is a hidden form of taxation.

The word invest has been stolen . In the old days it meant something that was going to pay back dividends for ever that would far exceed the input. Now it's just an excuse for excessive consumption.

If you’re going to move public debt reporting into more of an accounting basis then that’s probably a good thing. However, if you want to deploy that argument you have to do so consistently and the (gargantuan) elephant in the room are public sector and state pension liabilities. However you show it, even a degree of honesty would show that we’re broke. Until we can be straight with people about this we’ll never embark on a sustainable course to recovery.

From $15k to $45k that's the minimum range of profit returns every month its not a bad one for me.. As a beginner, it's essential for you to have a mentor to keep your accountable...

simple answer - copy the european central bank & change how interest in paid on bonds from Quantitative Easing round 1 (2008-11) & they'll free up £11 Bn a year. Suddenly the black hole is filled, with £30 Bn+ free to invest in green tech & housing

I’m 45 with a £6M net worth. I’m already looking to leave the UK.

got sacked off from the BofE for ‘incompetence’ after a six month tenure 😂

As others have commented there are numerous sweeping statements here that are just plain wrong.

Can’t believe a word labour says

ROBERT PESTON DOESN'T UNDERSTAND HOW INCOME TAX WORKS! I'm sorry but this channel is now unlistenable and frankly a joke. To not understand marginal tax rate increases as a supposed economic commentator is utterly ridiculous and amateur. Pathetic.

Cab they stop BD pensions for public sector?

Painful to watch. The presenters are so slow and thick.

Interesting that both of the presenters voices are very annoying. One is cod upper class gent-Peston comes from London working class and the other…let’s not go there. I cannot listen to this programme despite being in their target market

It's never that hard for the Tories to come back, that's why they are jolly. They have the entire weight of the establishment behind them.

Facts wrong about final pension for public servants. This has changed. Do your homework, Peston.

After the Lion, the witch and the designer wardrobe of the Blair / Prescott era could history be repeating itself?

Even before the budget we have cut out earnings. Not nice to be hated for working hard and saving.

Increasing tax won’t do much for growth will it, these two are clueless btw.

IMO - they should increase Employers NI for all organisations with greater than 50 employees by 5% (18.8%) (may need something different for umbrella companies) and 2% (15.8%) for less than 50. Whilst at the same time increasing the national living wage to around £14 an hour for everyone (dropping the age requirements) which would bring someone on full time hours on this rate to approximately £25,000 a year. If they could also get rid of zero hours contracts and replacing it with 30 hours a week minimum for working age people that are not in full time education - the black hole will probably be covered. Increasing people's wages, taxing companies instead of people, NI doesn't affect pensioners. Added benefit of these proposals is that companies that offshore profits will have less to offshore and more in the pockets of the working people.

Hmm RP didn't actually touch the issue of the 25% tax-free sum from the pension-pot, which is the big deal we all want to know about.

I thought Peston loved Labour???????

Unless i am mistaken You only pay the 40% rate of tax on the money earned over the 40% tax threshold. So you only get 40% tax relief on the money you have earned above the 40% tax thresold. If you earn £10k over the 40% threshold you would only yake £6k of that home in your pay but if you put it into you pension you currently get 40% tax relief on that £10k. if you put it into your pensin by salery sacrifice you would get £10k going into your pension not £6k. the next £10k you put into you pension, you get 20% tax relief on it as you would have only paid 20% tax on it if you had taken it home in you pay. By reducing the higher rate tax relief to 30%, if you tried put the £10k earned over the 40% tax limit into your pension through salery sacrifice would only actally put £9k into your pension the other £1k would get paid in tax. This is a very simplistic view of it, but it would work pretty much like this. Or am i missing something major.

He really doesn’t get tax relief on pensions or salary sacrifice does he?!

Conservatives, partying,never??.????😂

Professor Richard Murphy says Rachel Reeves economically illiterate.