Dave’s Resignation Honours list should contain something for Nigel Farage

Clearly and obviously this should be so. The problem I’ve got is that I can’t quote work out what he gong should be.

To peg it to something, Dave gets an Earldom (if he wants it) for having been PM. Getting us out of the EU is clearly worth more than that. But perhaps not quite as much as the Dukedom that Churchill turned down. So, I’m currently pluming for a Marquessate. What the old Viceroy’s of India used to get upon retirement, seems about right.

Can’t use Kent as the title, pity. But then we don’t need to use a county, we can use a town. Of Ashford?

46 thoughts on “Dave’s Resignation Honours list should contain something for Nigel Farage”

  1. I don’t think handing out peerages to suddenly redundant MEPs is a priority issue for today, Tim.

  2. Lord Llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch.

    Just because I want to hear him being called to speak in the house of lords…

  3. Will Mr Farage get to give a farewell speech to the European “Parliament” when the British MEPs leave Brussels for the last time?

    I hope so.

    What a wonderful moment.

  4. IanB: This is why the work is just starting.

    VAT gone would be a huge boost for us all. But our own hacks know that money = power . They won’t want to let it go. And the EU dross will just hate the edge that would give our products and services.

    Our abolishing VAT would put huge pressure on the Eurotrash to do the same. The stalled economic engines might then start to spark and turn over again all over the continent. Showing people that the tin gods of politics and bureaucracy are their enemies.

  5. A knighthood would do nicely. Farage undoubtedly deserves some recognition, but let’s not get carried way. He brought on the referendum, but many people from all parties (and none) contributed to the victory of Leave.

    Above all, all brexiters need to pull together over the coming years, as remainers will try to delay and sabotage the UK’s divorce from the EU.

  6. Why would we want to abolish VAT?

    The priority should be to cut corporation tax to 10% or less in order to ensure that foreign direct investment continues at high levels and the UK has a surplus on the capital account. Without that capital account surplus, we are stuffed. Low corporation tax will help offset the EU’s tariff wall.

  7. Theophrastus, cutting corporation tax would have the added bonus of making the LHTD explode Mr. Creosote style.

  8. Steve Crook:
    “Lord Llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch.

    Just because I want to hear him being called to speak in the house of lords…”

    Lordy McLordFace.

  9. The priority should be to cut corporation tax to 10% or less in order to ensure that foreign direct investment continues at high levels and the UK has a surplus on the capital account.

    But…but…that would make us a neo-liberal tax haven!!! We can’t have growth, jobs, prosperity!! What would Richard’s peers in European socialist parties say?

  10. Surely Murphy should get an honour. Who can doubt that it was his honourable decision to obey Election Law and not seek to influence voters while the polling stations were open that was the key factor in Leave’s victory. Given the reach of his blog and the high esteem in which he is held by traditional Labour voters, it is almost certain that a final push by him would have been sufficient to sway enough voters to change their minds at the very last minute and vote Remain.

  11. We would want to cut VAT because it raises consumer prices by 20%. And it’s an EU tax. It would thus be symbolic of Brexit. Taxing a company’s products is just as much a burden on them as taxing their profits. Or worse, because it can’t even be avoided by reducing profit margins. Very bad tax.

    Also, I thought it was sweet that Nigel is so used to losing, he did a defeat speech even though he’d won. Why on Earth did he go and do that so early? That was bizarre.

  12. “We would want to cut VAT because it raises consumer prices by 20%.”

    But cutting VAT will not necessarily reduce consumer prices. Retailers would often simply pocket the difference.

    “And it’s an EU tax.”
    Perhaps originally. But now every OECD country, except the US, has VAT. So it would hardly be symbolic of Brexit.

    “Taxing a company’s products is just as much a burden on them as taxing their profits.”

    Consider two hypothetical post-Brexit headlines: ‘UK slashes Corporation Tax to lowest level in OECD’ and ‘UK slashes VAT…etc’. Which headline would bring companies rushing to our shores?

  13. But cutting VAT will not necessarily reduce consumer prices. Retailers would often simply pocket the difference.

    Sure. Except that’s not how economic markets actually work.

    And slashing corporation tax right now would be a PR disaster. While cutting consumer prices would play very well to the public. Any tax cut is an economic boost, since taxes are dead weight wherever they are levied (though entirely valid if you are prepared to accept the damage to the free market in return for whatever the taxes are spent on, I must add).

    Cut sales tax, more units of goods will shift, so factory output rises and thus profits (I’m starting to sound Keynesian. Sorry).

    We’ve already seen how little corporation tax large corporations pay anyway (which is what upsets Ritchie). Cut the sales tax, you’re helping the High Street and thus the companies who supply the High Street. Okay, Amazon, since everyone will be buying everything from either Amazon or Ebay by 2020 anyway. But I digress.

    I think phasing out VAT is the way to go, myself.

  14. I took the merest hint from one of Murphy’s comments that he may be thinking of entering politics, not as an adviser………

  15. “so factory output rises”

    Mostly abroad, though. Slashing VAT now would worsen the balance of payments by sucking in more imports. And slashing VAT would do nothing to preserve the healthy surplus on our capital account, which slashing corporation tax would.

  16. Don’t cut taxes, abolish them; it makes it more difficult for the enemy to reinstate them later.

    I’d abolish income tax and keep VAT.

  17. Farage was possibly conned by a ‘mate’ in the city that the exit polls showed that we were staying in. He calls it a day, market moves, profits made, Farage finds out he was mistaken.

    VAT is the tax that goes to pay the EU, so we have a decision to make; add the EU’s payments to the UK’s budget or let the public keep it. How much weight did the ÂŁ100M per week extra for the NHS receive?

    OTOH VAT is clearly the stupidest make work tax we have. Businesses need to calculate VAT paid vs VAT collected and pay the difference. Also, VAT inspectors are among some of the nicest people you could hope to meet. You can’t just throw them to the curb like that…

  18. “Also, VAT inspectors are among some of the nicest people you could hope to meet.”

    You have to have some jobs which suit the semi-housetrained polecats to do. Not everyone can be a politician or a wrestler.

  19. Please abolish VAT. The idea is starting to gain traction on this side of the pond. We already have a convoluted sales tax and we don’t need another convoluted mess.

  20. Gareth Too

    “VAT is the tax that goes to pay the EU”

    No UK tax is reserved to pay the EU. Our EU ‘tribute money’ is paid from general taxation, of which (after income tax and NI) VAT is the third largest source.

  21. Stay away from Farage. Perfidious Albion will make him pay, as you did Hugh Dowding and Winston Churchill.

  22. No Theo, VAT, or at least something like the first 15% of it is the EU’s money. That’s why the gubmint couldn’t zero rate tampons and the EU is always suggesting new VAT territory like kids clothes and reading material.

  23. Farage should not get any honour from the government; neither should anyone. The free market has got this respect thing covered. If you see him show your honour by buying him a pint.

  24. @Tim Worstall,

    iirc Convention dictates Cameron, like Brown and Blair are blocked from a peerage until Sir John Major accepts one (or dies?).

    One of the few honourable things Major did (or didn’t) do.

    P

  25. No, Thatcher took one, Heath did not.

    Heath died in 05, Thatcher took her peerage in 92.

    Or, err, nonsense from you.

  26. “Or, err, nonsense from you.”

    Apologies, my mistake. I’m sure I read a few years ago something about Major preventing Blair peerage.

    Very tired, no sleep. Will report back.

    P

  27. There’s a serious point here. Nigel is the proximal catalyst for something otherwise unimagineable. Not merely in this country, but in two and a -half score others. A revolutionary who’s machine-gunned no one, and starved or immiserated no one else.

    Ive been at this since the Denmark referendum in ’92. I was at the LSE when Sked formed his cabal.

    It took Nige, eschewing parliamentary favours and City wealth, to convert Sked’s multifaceted charabanc of inchoate frustration into a broad church of damn your eyes beef steak and liberty uppityness. And along the way, he’s endured vile brickbats with outward good humour and unswerv8ng dignity.

    Im sure he has his failings. I know a player in Kent, who knows him,distinctly ambivalent about h8m. And i can see that those reservations might have force.

    But what’s happened is titanic. And he is at its epicentre. The bumbling bore from the snug of the village boozer.

    It’s a life well-lived. I wish mine was half as well. I’m no fan of gongs, though.

    So what about a public subscription to fund a bronze bust or, even better, a full figure of the lad, pint raised, Rupert the Bear jacket flapping, stupid grin hustling you to believe he’s an idiot?

    At the risk of sounding (being) gushy, this is a Great Man. He may be a twerp in some ways. But he deserves our most profound thanks. And a life of ease hereafter.

  28. “But cutting VAT will not necessarily reduce consumer prices. Retailers would often simply pocket the difference.”

    Even on TW’s blog, economic idiocy abounds.

  29. dearie

    As you know, Guernsey has no VAT or GST, so it’s strange that those ‘island overheads’ add exactly the same cost as the UK VAT rate. It’s a constant source for complaint.

    Chances are that Gsy will introduce a GST to lessen the reliance on direct taxes, and that will be on top of the imaginary mark up.

    If VAT was abolished in the UK will legislation be needed to enforce the true reduction in price, or will shops just reduce them by a bit, to show willing?

  30. Gareth Too

    Sorry, that’s nonsense. 15% is the minimum VAT rate in EU. It’s not reserved for the EU’s coffers – yet.

    Dearieme

    Please explain why it is economic idiocy to suggest that consumer prices would not automatically fall if the VAT rate were reduced. In rip-off Britain, the retail sector has a number of informal cartels.

  31. VAT is not earmarked for the EU, and goes directly to national governments. However the calculation of each Member State’s payments to the EU budget does includes their theoretical VAT revenues, so indirectly it does partly go to the EU.

  32. “But cutting VAT will not necessarily reduce consumer prices. Retailers would often simply pocket the difference.”

    I’ve had a brilliant idea – when all my competitors are pocketing the 20% from the VAT cut, I’ll drop my prices 15% and get all their business! Genius!

  33. Even if retailers etc put the full VAT rate in their own pocket they would either spend or invest it. Very likely to prosper other Britons either way. Even if they invested ALL of it in foreign enterprises–very, very unlikely in itself– they would gain income to respend/invest over here. Free market activity anywhere basically prospers all of us everywhere. If foreigners grow richer thro’ having free lives and free markets.

    All tax cuts would work the same way. All taxes do damage by re-alocating resources by political means. In the case of Theo , central planning and political allocation of resources works no better when done by patrician blue-bloods than when done by nasty leftists with little round NHS-style glasses.

    Abolishing VAT would be a huge boost to the UK economy.

  34. OK Theo,
    I thought the minimum 15% VAT rate was the EU demanding its wedge but I am working with info I picked up over 5 years ago.

    Not worth looking up though because it shouldn’t matter soon – hurrah!

    Vat is still a crap system for anyone who’s not got accounting software. I remember my parents had to run a VAT accounting book, manually adding up paid & received VAT – crazy.

  35. The debate here is so much better than can be found on NPR. Read if you wish but there is a lot of confusion and partisan rhetoric.

  36. Richard Littlejohn in the Mail:

    “Self-styled sophisticates may sneer at Nigel Farage, but in another lifetime he’d have been a Spitfire pilot fighting the Luftwaffe in the Battle of Britain. Most of his critics would have been desk-jockeys in Whitehall or conscientious objectors, if not outright collaborators.

    He is a brave man, not only politically, but personally, who has stuck to his convictions in the face of disgusting verbal and physical abuse. Without him, we would never have been in a position to cast off the shackles of Brussels. He deserves a statue in Parliament Square — or a blue plaque outside the Red Lion in Whitehall, at the very least.”

    Amen

  37. Ecksy
    I’m not in favour of VAT or any tax, nor am I advocating central planning. I am, however, saying abolition of VAT is not an immediate priority post-Brexit, and that the informal cartels in the UK retail sector would cash-in and not reduce prices automatically.

  38. OTOH VAT is clearly the stupidest make work tax we have. Businesses need to calculate VAT paid vs VAT collected and pay the difference.

    Yeah – so much extra work; if not for VAT businesses wouldn’t need to know their total sales or total costs.
    Value added taxes are just about the easiest tax to calculate and collect, and are the least economically distorting form of taxation – they don’t tax capital formation or retention, they don’t tax investment, they don’t impair exports, and, if broad-based, they don’t effect consumption decisions. They have the added bonus that they tax the decision to take from the economy, unlike income taxes, which tax the ability and determination to contribute.

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