Comments on: Bringing in GST would make pensioners poorer says deputy

Comments on: Bringing in GST would make pensioners poorer says deputy http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/ Guernsey News, Sport, Community & Lifestyle Tue, 21 May 2013 21:28:20 +0100 hourly 1 http://wordpress.org/?v=3.0.4 By: DELLQUAY http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-209408 DELLQUAY Mon, 03 Dec 2012 14:07:29 +0000 http://www.thisisguernsey.com/?p=157332#comment-209408 Introducing a goods and services tax would cripple small Guernsey Businesses and indeed would tip many families over the edge into poverty? Yes poverty is here alive and well in Guernsey. Hard to imagine when you look around you. On a recent trip to the UK I could buy things that were cheaper than here even with the VAT added on. Why is that? Oh the freight charges..... that's is boll---- Introducing any form of sales tax coupled with the already very high prices (that probably sneakily include VAT on UK goods etc)would be a disaster for Guernsey that we would never recover from. People would stop buying the way they do now and I would not blame them. Raise the upper earnings limited and higher taxes for those earning over 100K. Introducing a goods and services tax would cripple small Guernsey Businesses and indeed would tip many families over the edge into poverty? Yes poverty is here alive and well in Guernsey. Hard to imagine when you look around you. On a recent trip to the UK I could buy things that were cheaper than here even with the VAT added on. Why is that? Oh the freight charges….. that’s is boll—- Introducing any form of sales tax coupled with the already very high prices (that probably sneakily include VAT on UK goods etc)would be a disaster for Guernsey that we would never recover from. People would stop buying the way they do now and I would not blame them. Raise the upper earnings limited and higher taxes for those earning over 100K.

]]> By: russm http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-209366 russm Mon, 03 Dec 2012 12:34:49 +0000 http://www.thisisguernsey.com/?p=157332#comment-209366 I ask becuase I'm interested in the actual amount that can be raised rather than simply suggesting it as a popular way of the rich paying more. I ask becuase I’m interested in the actual amount that can be raised rather than simply suggesting it as a popular way of the rich paying more.

]]> By: AD Locke http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-208630 AD Locke Sun, 02 Dec 2012 01:57:43 +0000 http://www.thisisguernsey.com/?p=157332#comment-208630 Yes that's correct the whole of FS in Jersey is exempt and do you really think that our treasury would seek to put our FS at a disadvantage over Jerseys? Mind you you never bloney know what daft idea someone might come up with next! Yes that’s correct the whole of FS in Jersey is exempt and do you really think that our treasury would seek to put our FS at a disadvantage over Jerseys?
Mind you you never bloney know what daft idea someone might come up with next!

]]> By: Nick Le P http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-208351 Nick Le P Sat, 01 Dec 2012 15:23:45 +0000 http://www.thisisguernsey.com/?p=157332#comment-208351 Small business would just need to open on a Sunday to increase their revenue and make up for it! Small business would just need to open on a Sunday to increase their revenue and make up for it!

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]]> By: Backchat http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-208337 Backchat Sat, 01 Dec 2012 15:05:59 +0000 http://www.thisisguernsey.com/?p=157332#comment-208337 If the prices go up anymore then I will have to consider moving away, everything you buy on this Island is at least 50% more expensive than the UK/Europe already! If the prices go up anymore then I will have to consider moving away, everything you buy on this Island is at least 50% more expensive than the UK/Europe already!

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]]> By: Sensible http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-207438 Sensible Fri, 30 Nov 2012 09:18:04 +0000 http://www.thisisguernsey.com/?p=157332#comment-207438 The whole FS in Jersey is excempt from GST, so could well happen in Guernsey The whole FS in Jersey is excempt from GST, so could well happen in Guernsey

]]> By: A.J. http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-206960 A.J. Thu, 29 Nov 2012 15:28:06 +0000 http://www.thisisguernsey.com/?p=157332#comment-206960 RUSSM lots!Why do you ask these questions? RUSSM lots!Why do you ask these questions?

]]> By: Eric http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-206806 Eric Thu, 29 Nov 2012 09:57:25 +0000 http://www.thisisguernsey.com/?p=157332#comment-206806 GM - The cost of administration of what you're suggesting would be utterly unnacceptable. You might raise £100m but you'd spend most of it funding a huge new empire in T&R (and a reasonable size one in customs) while hamstringing virtually every business on the island. The whole package is about as politically acceptable as shutting the PEH. GM – The cost of administration of what you’re suggesting would be utterly unnacceptable. You might raise £100m but you’d spend most of it funding a huge new empire in T&R (and a reasonable size one in customs) while hamstringing virtually every business on the island. The whole package is about as politically acceptable as shutting the PEH.

]]> By: russm http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-206518 russm Wed, 28 Nov 2012 16:31:25 +0000 http://www.thisisguernsey.com/?p=157332#comment-206518 But how much would it raise? But how much would it raise?

]]> By: markB http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-206506 markB Wed, 28 Nov 2012 15:39:59 +0000 http://www.thisisguernsey.com/?p=157332#comment-206506 Point taken... But what about A.J’s idea could that not work?. Anyone that thinks GST isn’t going to hit everyone in the pocket, rich or poor, must be mad. Point taken… But what about A.J’s idea could that not work?.

Anyone that thinks GST isn’t going to hit everyone in the pocket, rich or poor, must be mad.

]]> By: Ray http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-206492 Ray Wed, 28 Nov 2012 15:13:23 +0000 http://www.thisisguernsey.com/?p=157332#comment-206492 That gets my vote That gets my vote

]]> By: markB http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-206469 markB Wed, 28 Nov 2012 14:07:49 +0000 http://www.thisisguernsey.com/?p=157332#comment-206469 good idea AJ good idea AJ

]]> By: GM http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-206439 GM Wed, 28 Nov 2012 13:09:39 +0000 http://www.thisisguernsey.com/?p=157332#comment-206439 Gilthead I don't disagree with your summary there. Whilst introducing GST would be the easy option, I'd hate to see it come in before the culling of wastage in the public sector was first addressed. I agree that GST should be the last resort, but I strongly suspect that we will need it at some point within the next 5 years. Gilthead

I don’t disagree with your summary there. Whilst introducing GST would be the easy option, I’d hate to see it come in before the culling of wastage in the public sector was first addressed. I agree that GST should be the last resort, but I strongly suspect that we will need it at some point within the next 5 years.

]]> By: GM http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-206438 GM Wed, 28 Nov 2012 13:05:25 +0000 http://www.thisisguernsey.com/?p=157332#comment-206438 MarkB You obviously don't realise that all regulated finance companies (whether owned locally or not) are going to be paying 10% from now on! For those which are locally owned it makes little difference other than timing, as local shareholders eventually pay20% tax on those profits anyway, so it just means that half that tax is collected annually, whether distributed or not. The big difference is that those regulated finance companies which are owned by non-local shareholders will now be paying 10% rather than 0%, so that is extra tax revenue. It's not possible to tax client companies (owned by non-residents) of those regulated businesses without putting the entire industry at risk (there are many competing jurisdictions who charge zero and who would grab that business from us overnight). MarkB

You obviously don’t realise that all regulated finance companies (whether owned locally or not) are going to be paying 10% from now on!

For those which are locally owned it makes little difference other than timing, as local shareholders eventually pay20% tax on those profits anyway, so it just means that half that tax is collected annually, whether distributed or not.

The big difference is that those regulated finance companies which are owned by non-local shareholders will now be paying 10% rather than 0%, so that is extra tax revenue.

It’s not possible to tax client companies (owned by non-residents) of those regulated businesses without putting the entire industry at risk (there are many competing jurisdictions who charge zero and who would grab that business from us overnight).

]]> By: A.J. http://www.thisisguernsey.com/news/2012/11/26/bringing-in-gst-would-make-pensioners-poorer-says-deputy/#comment-206409 A.J. Wed, 28 Nov 2012 12:26:13 +0000 http://www.thisisguernsey.com/?p=157332#comment-206409 The best ideas are the simple ones. As soon as things become complicated most of the advantages seem to be gobbled up by the disadvantages. The 'The Income Tax' system,(probably the simplest way of raising public funds,) could be 'tweaked 'to increase tax on ALL annual earnings in excess of £100,000 to 25%".Simple, but effective. The best ideas are the simple ones. As soon as things become complicated most of the advantages seem to be gobbled up by the disadvantages. The ‘The Income Tax’ system,(probably the simplest way of raising public funds,) could be ‘tweaked ‘to increase tax on ALL annual earnings in excess of £100,000 to 25%”.Simple, but effective.

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