Bailing out TFL and Pensioners

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kwackers
Posts: 15039
Joined: 4 Jun 2008, 9:29pm
Location: Warrington

Re: Bailing out TFL and Pensioners

Postby kwackers » 19 Oct 2020, 6:12pm

Cyril Haearn wrote:Free travel might be worthwhile in London, but in some small towns there is one bus that calls at all the schools, hospitals etc, often one could walk quicker from A to B

It'd have to be a very slow bus to be slower than my mum.

Public transport should be a service, not a profit making exercise.
Run as a service it might be possible to have TWO buses...

mercalia
Posts: 14465
Joined: 22 Sep 2013, 10:03pm
Location: london South

Re: Bailing out TFL and Pensioners

Postby mercalia » 19 Oct 2020, 8:22pm

kwackers wrote:
Cyril Haearn wrote:Free travel might be worthwhile in London, but in some small towns there is one bus that calls at all the schools, hospitals etc, often one could walk quicker from A to B

It'd have to be a very slow bus to be slower than my mum.

Public transport should be a service, not a profit making exercise.
Run as a service it might be possible to have TWO buses...


when I down near the New Forest staying at a YHA there a couple if years ago I noted the local bus was just once a day once a week to the nearest town just 10 miles away......Thats the home counties southern England.

pete75
Posts: 13425
Joined: 24 Jul 2007, 2:37pm

Re: Bailing out TFL and Pensioners

Postby pete75 » 20 Oct 2020, 10:34am

mercalia wrote:
kwackers wrote:
Cyril Haearn wrote:Free travel might be worthwhile in London, but in some small towns there is one bus that calls at all the schools, hospitals etc, often one could walk quicker from A to B

It'd have to be a very slow bus to be slower than my mum.

Public transport should be a service, not a profit making exercise.
Run as a service it might be possible to have TWO buses...


when I down near the New Forest staying at a YHA there a couple if years ago I noted the local bus was just once a day once a week to the nearest town just 10 miles away......Thats the home counties southern England.

That's a wealthy area with high car ownership.

mercalia
Posts: 14465
Joined: 22 Sep 2013, 10:03pm
Location: london South

Re: Bailing out TFL and Pensioners

Postby mercalia » 21 Oct 2020, 8:54am

Sadiq Khan condemns 'draconian' conditions of TfL rescue


https://www.bbc.co.uk/news/uk-england-london-54624961

The current Mayor of London [Sadiq Khan] had effectively bankrupted TfL before coronavirus had even hit and left a massive black hole in its finances. Any need to make up that deficit is entirely down to him, it is entirely his responsibility.’

– Boris Johnson on the TfL deficit during PMQs.


‘The PM has lied to the House of Commons. Before Covid-19 I was fixing his mess at TfL – reducing the deficit by 71 per cent since 2016. Covid-19 is the sole cause of TfL’s challenges.’

– London Mayor Sadiq Khan responding to Boris’s comments on TfL.


The Mayor will reply on LBC at 4pm

seems like Boris left a deficit of £1.5bn that Sadiq reduced to a 200 million( some say £500m) and was on target to make a profit before the pandemic. 100% proof that Johnson is either trump-mad or a trump-liar. Really sad. Johnson has lied on the floor of the Commons, a serious offence? I hope the Labour leader holds Johnson to account, so we find out the truth.

mercalia
Posts: 14465
Joined: 22 Sep 2013, 10:03pm
Location: london South

Re: Bailing out TFL and Pensioners

Postby mercalia » 27 Oct 2020, 12:01pm

The BBCs overview


The UK's capital city used to get grants from the government, amounting to £700m a year.

This all changed in 2015 when Mr Johnson, as London mayor in the final full year of his term, and then-Chancellor George Osborne agreed to phase out this government operating grant.


Image


Mr Johnson enjoyed two consecutive stints as mayor of London, between 2008 and 2016. A TfL report published a month before he left office showed TfL had a nominal £9.148bn of debt.


Three years later, about 12 months before coronavirus hit the UK, TfL published new accounts showing its nominal debt had increased to £11.175bn in real terms - stripping out the effect of rising prices or inflation.

PM blames London mayor for TfL 'bankruptcy' ( His ref to fare freeze a red herring as it was funded from efficiency improvements) ..Mr Khan responded by calling the PM a "liar" and said he had cut the operations deficit, left by Mr Johnson when he was mayor in 2016, by 71%. (https://www.bbc.co.uk/news/uk-england-london-54624961)


( no explanation of the increase under Sadiq unless a later ref to Crossrail or the two claims?)

https://www.bbc.co.uk/news/uk-england-london-54652907
Last edited by mercalia on 27 Oct 2020, 1:19pm, edited 2 times in total.

sjs
Posts: 893
Joined: 24 Jan 2010, 10:08pm
Location: Hitchin

Re: Bailing out TFL and Pensioners

Postby sjs » 27 Oct 2020, 1:04pm

pete75 wrote:
thirdcrank wrote:Combine your marginal rate of income tax with your NI contributions to calculate your true tax rate. Ever since the dead sheep, it's been higher than many people believe


Quite. NI used to be a fixed rate "stamp". Then earning related pensions and dole money were introduced so NI became earnings related which was fair enough. Earnings related dole and pensions have now stopped but the earnings related NI remains - a tax by another name and one which the employer also pays.


And the last 2% of employee NI contribution has no cap, so is essentially income tax. A clever wheeze dreamt up by Gordon IIRC.

sjs
Posts: 893
Joined: 24 Jan 2010, 10:08pm
Location: Hitchin

Re: Bailing out TFL and Pensioners

Postby sjs » 27 Oct 2020, 1:13pm

Jdsk wrote:
irc wrote:Overall person tax probably not varied by more than a few percent over the years.

Screenshot 2020-10-18 at 18.28.02.png
Screenshot 2020-10-18 at 18.28.55.png
https://www.instituteforgovernment.org.uk/sites/default/files/publications/taxing-times-final.pdf

NB the second is from the PoV of the state not the individual.

Jonathan


Not really the case that the max UK income tax rate is only 45%. For income over 100k the personal allowance falls by £1 for every £2 earned (to a minimum of zero IIRC), which is an obscure way of saying that in that range of earnings the marginal rate is 60%

thelawnet
Posts: 2611
Joined: 27 Aug 2010, 12:56am

Re: Bailing out TFL and Pensioners

Postby thelawnet » 28 Oct 2020, 3:16pm

sjs wrote:
Jdsk wrote:
irc wrote:Overall person tax probably not varied by more than a few percent over the years.

Screenshot 2020-10-18 at 18.28.02.png
Screenshot 2020-10-18 at 18.28.55.png
https://www.instituteforgovernment.org.uk/sites/default/files/publications/taxing-times-final.pdf

NB the second is from the PoV of the state not the individual.

Jonathan


Not really the case that the max UK income tax rate is only 45%. For income over 100k the personal allowance falls by £1 for every £2 earned (to a minimum of zero IIRC), which is an obscure way of saying that in that range of earnings the marginal rate is 60%


Technically it would be:

£12,500 taxed at 40% (personal allowance) = £5,000
£25,000 taxed at 40% = £10,000
£25,000 taxed at 2% NI = £500
£25,000 taxed at 13.8% NI = £3,450

Totalling
£9,500 /£28,450 = 66.6%

pete75
Posts: 13425
Joined: 24 Jul 2007, 2:37pm

Re: Bailing out TFL and Pensioners

Postby pete75 » 28 Oct 2020, 10:40pm

Perhaps NI should be abolished and tax increased that way every taxpayer would pay not just those under 65.