[Re: Autumn Statement: What to watch out for, yesterday]
There has been so much talk of tax avoidance that a fear factor has developed, with Her Majesty’s Revenue and Customs (HMRC) playing the role of chief scaremongerer. We have reached an extremely worrying point where people would prefer to pay too much tax rather than risk being perceived as paying too little. Effectively, HMRC has used this to its advantage and is now reaping the benefits. And it seems, given yesterday’s announcements of another crackdown, it will continue to do so in the years to come.
David Hannah, Cornerstone Tax
[Re: London needs Crossrail Two and we must kickstart this vital project now, yesterday]
Crossrail Two may well have merit, but this is a project where those who benefit are apparently unwilling to pay. In most markets, when demand exceeds supply, the price goes up. We should transition to the same with rail. Peak users should pay enough to make capital investment profitable, enticing the private sector to make investment in new capacity. As for the claim that Crossrail Two will spark regeneration, there are plenty of parts of London with excellent transport links that are still heavily deprived.
BEST OF TWITTER
Employment up, deficit down, borrowing down. But the job’s not done; we must work through the plan.
Looks like the chancellor is still determined to tackle housing crisis by demand side tinkering. Sigh.
Deficit of 6.8 per cent of GDP still unsustainably high. Needs to fall to 2 to 3 to stabilise debt/GDP ratio.
Removal of employer National Insurance for under-21s is good news, only shame is it doesn’t start now.