Fair play to Boreham Wood for out-Boreham Wooding themselves.
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The Brexit Thread
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Grace Blakeley has the answer.
Raising top marginal tax rates is the best moral and economic course of action for the UK, but any socialist government that attempted to do so would be punished severely by “the markets”. Without constraints on capital mobility, investors will continue to exercise a veto power over domestic states’ fiscal policy, and tax competition will only get worse.
The technical infrastructure for the implementation of controls is there – most of it could be performed electronically through existing software. A Conservative government – the party of British finance – would never use it. A Labour government should; and that means making the ability to deploy capital controls in day-to-day monetary policy a central pillar of any Brexit deal.
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Originally posted by Tubby Isaacs View PostGrace Blakeley has the answer.
I dunno, Grace, maybe the "existing software" would move a ton of money out before the election?
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Originally posted by Satchmo Distel View PostI think there has been a lowering of expectations in that May could lose by a massive margin but still get to kick the can down the road.
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Originally posted by The Awesome Berbaslug!!! View Post
But the top rate of income tax in the UK isn't very high by european standards, it could increase quite a bit before it would start to be a competitive disadvantage. Also why would a tax on income lead to capital flight?
https://www.newstatesman.com/politic...pital-controls
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