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Dunno, really, I don’t

Economists said spending was also boosted by the reversal of the National Insurance increase introduced by Rishi Sunak when he was chancellor. Elizabeth Martins, senior economist at HSBC, said a recession was now “avoidable”.

Could be. Would make certain screams about inevitable depression that must be averted look a tad de trop, won’t it?

The Treasury will bank a £11bn windfall from a stronger than expected economy and plunging energy prices, economists have said, raising the prospect that the Chancellor could cut taxes sooner than expected.

My desire would be to do a Lawson. Cut a tax. Kill one, that is. Instead of lowering some plethora of tax levels, simply withdraw the state from taxing an activity. Got more money to play with? Kill another one.

Sue, the macroeconomic numbers, the balanced – ahaha – budget and so on. But look to the microeconomic benefits too of being able to gut an entire part of the tax bureaucracy.

8 thoughts on “Dunno, really, I don’t”

  1. I would favour a charge of treason against A. Bailey Esq. for his complicity in getting a Goldman Sachs man in charge. Liz Truss had the right idea and I daresay she had some choice remarks to make about Balls-Up Bailey, but the bankers got her in the end.

    Bastards.

    And I feel some poetry coming on, thinking about Hunt the …

    Chancellor

  2. being able to gut an entire part of the tax bureaucracy.

    Has this ever happened? I mean not just the tax bureaucracy but any bureaucracy? Any where? Any time?

    Has part of a bureaucracy ever been gutted? I mean I’m sure some bureaucrat has moaned that his department has been ‘gutted’ from 30 absolutely necessary workers down to only 35, (instead of the 50 the job needs), but public sector bureaucracies don’t get gutted.

  3. Kevin B, the abolition of exchange controls in the late 70s led to a big reduction in staff at the BoE. The days when you couldn’t take more than £50 out of the country

  4. £11bn is pretty much fuck all in the context of the bloated British state. We ought to be closing entire departments.

  5. I would favour a charge of treason against A. Bailey Esq.
    Can’t you just go straight to the hanging, drawing & quartering?

  6. Kevin B in the UK maybe not. In NZ absolutely.

    I worked for the government when they started the axe, and it was incredible. Whole swathes of management were removed.

    By the time they finished a junior cadet would have a supervisor, a manager, an proncial controller and the big boss. Five levels for a nationwide institution.

    Junior staff were trusted to do their jobs, as they literally could not be micro-managed.

    Some fat has crept back in during the three decades since, but the NZ government remains blessedly short of management fat.

    The waste is now in quangos and commissioners who can’t actually do anything. The Commissioner for Young People, for example, is just a waste of money to show that the government cares.

    Some of the governments “fighting” arms so to speak, are actually underfunded. Education woefully so, which causes inefficiencies in schools, waiting for the Department to have time to solve problems.

  7. it would surely be helpful to cut taxation, but the bigger problem is how much they spend and how much they meddle. How much better off would we be if healthcare was actually delivered through a properly competitive market, for example. What about of we got rid of, for example, the deadwood regulation that requires diversity managers? Its not like taxation covers all that much of the cost of the guff politicans engage in.

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