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MBA MBA
Posted: 02 November 2023 19:24:34(UTC)
#41

Joined: 16/12/2012(UTC)
Posts: 1,725

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Newbie;284753 wrote:
MBA MBA;284751 wrote:
Wait till Lab get in. Landlords and parents who send / have to send their kids to private schools + anyone saving for a pension is gonna be rinsed.

More broadly I’ve been thinking how Lab will find the £ in the absence of global economic growth and after the first two years when they’ve written strategies, published white papers and legislated for growth and for everyone to be happy + pulled any of the levers outstanding and nothings happening. I reckon they’ll…

1) if they’re able to they’ll reduce interest rates or generate more inflation / do more QE
2) find a way for the Bank of Eng to cancel the outstanding gilts it owns via QE then the national debt falls and they can start borrowing again (and spending)

A bit confused.

Are you saying that Labour will generate more Inflation - if so how does it help voters across any spectrum.

Do more QE - will that not simply just push properties back up and drive it away, not only from the low income level but also middle income level to the far extreme of the uber wealthy - The former need to rent it out to pay the mortgages, the latter just need to sit on it and watch it appreciate.

Also by doing more QE will it not simply arm the wealthy with more firepower to get access to cheap credit without necessarily touching their existing assets.


Sorry now corrected above (perils of using an iPhone to write small sized font text)
Yes that’s the downside of QE but the upside is you can spend. The pressure on lab to spend, spend, spend will be extraordinary, esp if growth is low. They’ll say ‘if you spend, you can grow by calling it ‘investment’. So a bridge is investment, a road is investment but so is child benefit (if we don’t invest in our young what future do we have, they’ll say), if we don’t have £70k health inequalities strategy managers in Rochdale how can we possibly level up: we need to invest.
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Newbie on 02/11/2023(UTC), Guest on 03/11/2023(UTC)
Chico99
Posted: 16 November 2023 15:54:16(UTC)
#42

Joined: 09/04/2010(UTC)
Posts: 97
I recently stumbled on the "British ISA" (a.k.a. BRISA) suggestion.
In reading up on it I saw suggestions that the current £20,000 ISA limit may be supplemented with a BRISA component...or simply increased anyway.
Then I came across this...

https://www.bgf.co.uk/bgf-calls-new-british-isa-growth/

which includes:

"A new British ISA or “BRISA” would, from next year, give taxpayers the chance to invest their full £20,000 allowance in growing the UK economy and supporting her companies. This would drive interest from a wider pool of investors and create a multiplier effect, reviving interest in raising equity in the UK, driving economic growth, spreading prosperity and boosting tax revenues. Investors could still put money into overseas firms, just without the support of an overt tax break."

I prefer carrot.
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MBA MBA
Posted: 16 November 2023 16:10:49(UTC)
#43

Joined: 16/12/2012(UTC)
Posts: 1,725

Thanks: 3475 times
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Chico99;286491 wrote:
I recently stumbled on the "British ISA" (a.k.a. BRISA) suggestion.
In reading up on it I saw suggestions that the current £20,000 ISA limit may be supplemented with a BRISA component...or simply increased anyway.
Then I came across this...

https://www.bgf.co.uk/bgf-calls-new-british-isa-growth/

which includes:

"A new British ISA or “BRISA” would, from next year, give taxpayers the chance to invest their full £20,000 allowance in growing the UK economy and supporting her companies. This would drive interest from a wider pool of investors and create a multiplier effect, reviving interest in raising equity in the UK, driving economic growth, spreading prosperity and boosting tax revenues. Investors could still put money into overseas firms, just without the support of an overt tax break."

I prefer carrot.


Are they that thick? If Hunt doesn’t bung us some extra isa allowance before Lab takeover I’ll be ultra peeved. What is the tax lost of increasing isa allowance by a further 10k? Super low but provides a bone to older savy Tory voters
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Raj K on 16/11/2023(UTC)
Chico99
Posted: 16 November 2023 17:25:36(UTC)
#53

Joined: 09/04/2010(UTC)
Posts: 97
The FT on Peel Hunt (not rhyming slang) BRISA thoughts

https://archive.li/o4qQD

includes

"The Peel Hunt note is labelled as a “marketing communication”. We suppose “nakedly self-serving plea to curtail financial freedom” is less catchy."
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Tim D on 16/11/2023(UTC)
Raj K
Posted: 16 November 2023 17:41:28(UTC)
#44

Joined: 22/04/2016(UTC)
Posts: 2,819

Thanks: 6461 times
Was thanked: 6656 time(s) in 2091 post(s)
Chico99;286491 wrote:
I recently stumbled on the "British ISA" (a.k.a. BRISA) suggestion.
In reading up on it I saw suggestions that the current £20,000 ISA limit may be supplemented with a BRISA component...or simply increased anyway.
Then I came across this...

https://www.bgf.co.uk/bgf-calls-new-british-isa-growth/

which includes:

"A new British ISA or “BRISA” would, from next year, give taxpayers the chance to invest their full £20,000 allowance in growing the UK economy and supporting her companies. This would drive interest from a wider pool of investors and create a multiplier effect, reviving interest in raising equity in the UK, driving economic growth, spreading prosperity and boosting tax revenues. Investors could still put money into overseas firms, just without the support of an overt tax break."

I prefer carrot.


The article is not clear. Are they talking about an additional ISA ontop of the existing one or replacing what we currently have entirely.

People can already invest the full £20000 into British Companies if they want to. Its just most people dont want to.

Will the British ISA allow you to invest in Investment Trusts which are LSE listed but invest in underlying. overseas companies

The whole things seems idiotic to me. They should simply just increase the ISA allowance by 5 or 10 grand and let people invest wherever they want.
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3 users thanked Raj K for this post.
Keith Cobby on 16/11/2023(UTC), Mostly Retired on 16/11/2023(UTC), SSJ on 16/11/2023(UTC)
MBA MBA
Posted: 16 November 2023 18:03:06(UTC)
#52

Joined: 16/12/2012(UTC)
Posts: 1,725

Thanks: 3475 times
Was thanked: 3599 time(s) in 1156 post(s)
Raj K;286499 wrote:
Chico99;286491 wrote:
I recently stumbled on the "British ISA" (a.k.a. BRISA) suggestion.
In reading up on it I saw suggestions that the current £20,000 ISA limit may be supplemented with a BRISA component...or simply increased anyway.
Then I came across this...

https://www.bgf.co.uk/bgf-calls-new-british-isa-growth/

which includes:

"A new British ISA or “BRISA” would, from next year, give taxpayers the chance to invest their full £20,000 allowance in growing the UK economy and supporting her companies. This would drive interest from a wider pool of investors and create a multiplier effect, reviving interest in raising equity in the UK, driving economic growth, spreading prosperity and boosting tax revenues. Investors could still put money into overseas firms, just without the support of an overt tax break."

I prefer carrot.


The article is not clear. Are they talking about an additional ISA ontop of the existing one or replacing what we currently have entirely.

People can already invest the full £20000 into British Companies if they want to. Its just most people dont want to.

Will the British ISA allow you to invest in Investment Trusts which are LSE listed but invest in underlying. overseas companies

The whole things seems idiotic to me. They should simply just increase the ISA allowance by 5 or 10 grand and let people invest wherever they want.


id be amazed if hunt doesnt incease isa allowance. its not inflationary and only a select bunch of older people will take it up
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Keith Cobby
Posted: 16 November 2023 18:33:43(UTC)
#54

Joined: 07/03/2012(UTC)
Posts: 5,064
I think he will increase the IHT threshold to £500k (incorporateing the unfair residence £175k). He should abolish stamp duty on share purchases and index ISA allowances. The non earning SIPP contributions should be increased from £3,600. What he really should do is simplify and reduce marginal tax rates.
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Tug Boat
Posted: 16 November 2023 18:41:56(UTC)
#55

Joined: 16/12/2014(UTC)
Posts: 2,022

Thanks: 31 times
Was thanked: 4187 time(s) in 1453 post(s)
I’d like to see NI on pensions. I’m a pensioner, but putting this burden on earners only is not on.

Well include it the overall tax burden.

This will not go down well.
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1 user thanked Tug Boat for this post.
Shetland on 20/11/2023(UTC)
Thrugelmir
Posted: 16 November 2023 18:44:03(UTC)
#46

Joined: 01/06/2012(UTC)
Posts: 5,332

Thanks: 3258 times
Was thanked: 7895 time(s) in 3270 post(s)
Raj K;286499 wrote:

The article is not clear. Are they talking about an additional ISA ontop of the existing one or replacing what we currently have entirely.

People can already invest the full £20000 into British Companies if they want to. Its just most people dont want to.

Will the British ISA allow you to invest in Investment Trusts which are LSE listed but invest in underlying. overseas companies

The whole things seems idiotic to me. They should simply just increase the ISA allowance by 5 or 10 grand and let people invest wherever they want.


Has to form part of a more broader strategy. In itself a UK focussed ISA isn't going to address the fundamental issue of broader share ownership. Nor will abolishing stamp duty by itself be a game changer. I'm sure those clever bods in the Treasury have been evaluating all sorts of proposals for consideration.
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2 users thanked Thrugelmir for this post.
Mostly Retired on 16/11/2023(UTC), Newbie on 16/11/2023(UTC)
Newbie
Posted: 16 November 2023 19:25:15(UTC)
#58

Joined: 31/01/2012(UTC)
Posts: 3,819
Tug Boat;286507 wrote:
I’d like to see NI on pensions. I’m a pensioner, but putting this burden on earners only is not on.

Well include it the overall tax burden.

This will not go down well.

Blame the successive governments for this one.
The whole NI tax was a way to get people to contribute into a scheme which would provide them access to care when they needed it, mainly when they were older. The collections should have been kept aside and invested for such and into the NHS. That was the idea and notion put forward to the public.
The reality is that the boffs got access to this cash and went on a spending spree. To try and hide it it, they felt it wise to change to a PAYG system so the cow could still be milked. Following this they agreed that it was better to starve the cow after which the cow began to get auctioned off. What we have left is a problematic shriveled up animal beginning to smell bad. An option may be to get rid of it somehow. However the real problem is that there is insufficient funds to pay the salaries of the mighty beast full of boffs who were sitting inside the Trojan horse scheme.

As for it not going down well, well there is the insurance angle which can be shown to be successful by pointing the lens toward the USA.
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