philbullett.bsky.social
@philbullett.bsky.social
Reposted by philbullett.bsky.social
Me being grumpy on Peston about the lack of pro-growth tax reform in the Budget: youtu.be/ZKx_qF3YpoU?...
November 27, 2025 at 2:50 PM
Me being grumpy on Peston about the lack of pro-growth tax reform in the Budget: youtu.be/ZKx_qF3YpoU?...
Reposted by philbullett.bsky.social
The good, the bad and the ugly of the Budget:
The bad: the Budget contained no significant tax reforms, and almost nothing in the way of pro-growth measures. The capital allowance change will reduce business investment - it's positively anti-growth.
The bad: the Budget contained no significant tax reforms, and almost nothing in the way of pro-growth measures. The capital allowance change will reduce business investment - it's positively anti-growth.
November 26, 2025 at 4:24 PM
The good, the bad and the ugly of the Budget:
The bad: the Budget contained no significant tax reforms, and almost nothing in the way of pro-growth measures. The capital allowance change will reduce business investment - it's positively anti-growth.
The bad: the Budget contained no significant tax reforms, and almost nothing in the way of pro-growth measures. The capital allowance change will reduce business investment - it's positively anti-growth.
Reposted by philbullett.bsky.social
The map on the left shades constituencies by % of top council tax band properties (Band H in England, Band H and I in Wales)
The map on the right shades by median house prices.
Very different maps. That's the problem with council tax.
The map on the right shades by median house prices.
Very different maps. That's the problem with council tax.
November 25, 2025 at 8:58 PM
The map on the left shades constituencies by % of top council tax band properties (Band H in England, Band H and I in Wales)
The map on the right shades by median house prices.
Very different maps. That's the problem with council tax.
The map on the right shades by median house prices.
Very different maps. That's the problem with council tax.
Reposted by philbullett.bsky.social
Great piece on Municipal Bonds from Morgan Wild.
I continue to be baffled every time I read a piece in this area that HM Treasury under Labour seems completely disinterested in going anywhere near ideas like this. A genuine growth, growth, growth idea.
takes.jamesomalley.co.uk/p/municipal-...
I continue to be baffled every time I read a piece in this area that HM Treasury under Labour seems completely disinterested in going anywhere near ideas like this. A genuine growth, growth, growth idea.
takes.jamesomalley.co.uk/p/municipal-...
How municipal bond markets can save Britain
The case for more fiscal devolution to build the infrastructure we need
takes.jamesomalley.co.uk
November 20, 2025 at 1:24 PM
Great piece on Municipal Bonds from Morgan Wild.
I continue to be baffled every time I read a piece in this area that HM Treasury under Labour seems completely disinterested in going anywhere near ideas like this. A genuine growth, growth, growth idea.
takes.jamesomalley.co.uk/p/municipal-...
I continue to be baffled every time I read a piece in this area that HM Treasury under Labour seems completely disinterested in going anywhere near ideas like this. A genuine growth, growth, growth idea.
takes.jamesomalley.co.uk/p/municipal-...
Reposted by philbullett.bsky.social
Even more striking is that a quarter of employees will be higher rate tax payers by the end of the decade.
This is a really fundamental shift in the structure of the tax system.
This is a really fundamental shift in the structure of the tax system.
📈 #IFSSatStat: Continuing the current freeze on personal tax thresholds for another two years would mean that by 2029–30, 17% of age 16+ population will pay the higher rate of tax: equivalent to 10.1 million people.
In 2021–22, just 8% were higher-rate tax payers.
In 2021–22, just 8% were higher-rate tax payers.
November 16, 2025 at 10:43 AM
Even more striking is that a quarter of employees will be higher rate tax payers by the end of the decade.
This is a really fundamental shift in the structure of the tax system.
This is a really fundamental shift in the structure of the tax system.
Reposted by philbullett.bsky.social
This is the practical result of the marginal rate curve you can see on our Budget tax calculator: taxpolicy.org.uk/2025/11/12/t...
And full write-up there.
And full write-up there.
November 14, 2025 at 12:47 PM
This is the practical result of the marginal rate curve you can see on our Budget tax calculator: taxpolicy.org.uk/2025/11/12/t...
And full write-up there.
And full write-up there.
Reposted by philbullett.bsky.social
NEW - we've data showing huge numbers of people reducing their income to avoid high marginal income tax rates. Not just at the £100k point (as previously reported). But at the £50k point:
November 14, 2025 at 12:47 PM
NEW - we've data showing huge numbers of people reducing their income to avoid high marginal income tax rates. Not just at the £100k point (as previously reported). But at the £50k point:
Reposted by philbullett.bsky.social
Britain has become a country of high taxes for the few and low taxes for the many and that settlement is now breaking down. www.newstatesman.com/politics/mor...
Is Britain a high-tax country?
Even as overall taxes have risen, most have been paying less
www.newstatesman.com
October 28, 2025 at 11:50 AM
Britain has become a country of high taxes for the few and low taxes for the many and that settlement is now breaking down. www.newstatesman.com/politics/mor...
Reposted by philbullett.bsky.social
However much you think people hate inflation, they hate it so much more than that
Voters really don't like inflation, and frankly everything else is secondary to that.
October 27, 2025 at 10:09 PM
However much you think people hate inflation, they hate it so much more than that
Reposted by philbullett.bsky.social
Very late to this but looks to me like there IS a correlation - imperfect but pretty strong - between immigration and public concern about immigration.
Question is how's this changed since 2016.
@stephenkb.bsky.social @duncanrobinson.bsky.social @jburnmurdoch.ft.com @jacobweinbren.bsky.social
Question is how's this changed since 2016.
@stephenkb.bsky.social @duncanrobinson.bsky.social @jburnmurdoch.ft.com @jacobweinbren.bsky.social
May 18, 2025 at 7:08 AM
Very late to this but looks to me like there IS a correlation - imperfect but pretty strong - between immigration and public concern about immigration.
Question is how's this changed since 2016.
@stephenkb.bsky.social @duncanrobinson.bsky.social @jburnmurdoch.ft.com @jacobweinbren.bsky.social
Question is how's this changed since 2016.
@stephenkb.bsky.social @duncanrobinson.bsky.social @jburnmurdoch.ft.com @jacobweinbren.bsky.social
Reposted by philbullett.bsky.social
this is objectively hilarious for those of us who were sure from the start that young Gary was absolutely full of it:
'If you want an enjoyable read and don’t care about the truth, then Trading Game is okay. But if you are looking for more than that, I wouldn’t bother.'
'If you want an enjoyable read and don’t care about the truth, then Trading Game is okay. But if you are looking for more than that, I wouldn’t bother.'
Worth a read - how one of the hottest YouTube channels and book deals in the UK in recent years was based on the credibility of a fake story.
So obviously not the best trader in the world at Citi and his colleagues seem to think his stories are also made up 😂
www.linkedin.com/pulse/gary-s...
So obviously not the best trader in the world at Citi and his colleagues seem to think his stories are also made up 😂
www.linkedin.com/pulse/gary-s...
Gary Stevenson's Trading Game - Fact or Fiction?
I finally got around to reading Gary Stevenson’s book Trading Game - it was on offer in Waterstone's. I had held off for so long, because I suspected that it would be, on the basis of what I’d read in...
www.linkedin.com
October 22, 2025 at 2:06 PM
this is objectively hilarious for those of us who were sure from the start that young Gary was absolutely full of it:
'If you want an enjoyable read and don’t care about the truth, then Trading Game is okay. But if you are looking for more than that, I wouldn’t bother.'
'If you want an enjoyable read and don’t care about the truth, then Trading Game is okay. But if you are looking for more than that, I wouldn’t bother.'
Reposted by philbullett.bsky.social
In her lunch with the FT the OnlyFans CEO says her company pays more tax than the entire British fishing industry. Quite a stat.
October 4, 2025 at 9:09 AM
In her lunch with the FT the OnlyFans CEO says her company pays more tax than the entire British fishing industry. Quite a stat.
Reposted by philbullett.bsky.social
It’s funny how much of this is self inflicted:
0.1 : VED
0.2 : vat on school fees
0.3 : water bills
0.4 - 0.6 : employers NIC changes getting passed through to prices. About 1% of cpi inflation is directly due to government choices.
0.1 : VED
0.2 : vat on school fees
0.3 : water bills
0.4 - 0.6 : employers NIC changes getting passed through to prices. About 1% of cpi inflation is directly due to government choices.
The international comparison doesn’t look great either.
August 20, 2025 at 7:15 AM
It’s funny how much of this is self inflicted:
0.1 : VED
0.2 : vat on school fees
0.3 : water bills
0.4 - 0.6 : employers NIC changes getting passed through to prices. About 1% of cpi inflation is directly due to government choices.
0.1 : VED
0.2 : vat on school fees
0.3 : water bills
0.4 - 0.6 : employers NIC changes getting passed through to prices. About 1% of cpi inflation is directly due to government choices.
Reposted by philbullett.bsky.social
In an effort that will no doubt torch my follower base, I have laid out some basic numbers around our fiscal situation. Obvious, but still a little sobering for me.
freethinkecon.wordpress.com/2025/07/15/t...
freethinkecon.wordpress.com/2025/07/15/t...
There really is no getting out of this fiscal corner
It is something of a cliche to argue that Britain is running out of money, living beyond its means, wandering through a fiscal fool’s paradise – but no less true for that. The trend of …
freethinkecon.wordpress.com
July 15, 2025 at 3:19 PM
In an effort that will no doubt torch my follower base, I have laid out some basic numbers around our fiscal situation. Obvious, but still a little sobering for me.
freethinkecon.wordpress.com/2025/07/15/t...
freethinkecon.wordpress.com/2025/07/15/t...
Reposted by philbullett.bsky.social
Due to lack of capacity to hold water rather than a lack of rain...last year was a wet year...
July 2, 2025 at 7:12 AM
Due to lack of capacity to hold water rather than a lack of rain...last year was a wet year...
Reposted by philbullett.bsky.social
Doping in sports gives a 4-10% unfair advantage. Because of this, athletes have to undergo blood tests and pee with somebody watching them.
All this is accepted as normal.
Men have a 20-50% advantage on women in sports.
Yet a simple cheek swap to determine sex is cruel and barbaric?
All this is accepted as normal.
Men have a 20-50% advantage on women in sports.
Yet a simple cheek swap to determine sex is cruel and barbaric?
a woman says " it just doesn 't make sense "
ALT: a woman says " it just doesn 't make sense "
media.tenor.com
June 11, 2025 at 7:04 AM
Doping in sports gives a 4-10% unfair advantage. Because of this, athletes have to undergo blood tests and pee with somebody watching them.
All this is accepted as normal.
Men have a 20-50% advantage on women in sports.
Yet a simple cheek swap to determine sex is cruel and barbaric?
All this is accepted as normal.
Men have a 20-50% advantage on women in sports.
Yet a simple cheek swap to determine sex is cruel and barbaric?
Reposted by philbullett.bsky.social
So, essentially, this is the problem.
And, as far as I know, nobody really knows what to do about it.
And, as far as I know, nobody really knows what to do about it.
May 8, 2025 at 7:19 AM
So, essentially, this is the problem.
And, as far as I know, nobody really knows what to do about it.
And, as far as I know, nobody really knows what to do about it.
Reposted by philbullett.bsky.social
Orsted pulling the plug on the Hornsea Four wind farm is a huge problem for Labour's Clean Power 2030 plan. But it also illustrates a huge problem *with* that plan. (1/?)
May 7, 2025 at 11:16 AM
Orsted pulling the plug on the Hornsea Four wind farm is a huge problem for Labour's Clean Power 2030 plan. But it also illustrates a huge problem *with* that plan. (1/?)
Reposted by philbullett.bsky.social
Economic optimism in UK at its lowest level since at least 1978, according to @ipsosintheuk.bsky.social. Worse even than financial crisis (-68 now, -64 then).
April 30, 2025 at 5:56 PM
Economic optimism in UK at its lowest level since at least 1978, according to @ipsosintheuk.bsky.social. Worse even than financial crisis (-68 now, -64 then).
Reposted by philbullett.bsky.social
Top Goldman Sachs banker quits UK after non-dom change
https://www.ft.com/content/24662a72-7dc8-4692-b3e8-64ebcf8d0119
https://www.ft.com/content/24662a72-7dc8-4692-b3e8-64ebcf8d0119
Top Goldman Sachs banker quits UK after non-dom change
Investment bank’s vice-chair Richard Gnodde is moving to Milan
www.ft.com
April 24, 2025 at 2:15 PM
Top Goldman Sachs banker quits UK after non-dom change
https://www.ft.com/content/24662a72-7dc8-4692-b3e8-64ebcf8d0119
https://www.ft.com/content/24662a72-7dc8-4692-b3e8-64ebcf8d0119
Reposted by philbullett.bsky.social
Your periodic reminder that the financial services industry contributes £208.2bn to the economy, yet gets substantially less attention in EU negotiations than the fish (£1.1bn).
April 22, 2025 at 11:31 AM
Your periodic reminder that the financial services industry contributes £208.2bn to the economy, yet gets substantially less attention in EU negotiations than the fish (£1.1bn).
Reposted by philbullett.bsky.social
Maybe because Phelps was 0.08% faster than the Olympic 2004 silver medallist but 1st male was 12.62% faster than 1st female.
Which is why we have separate male & female categories but not separate categories for joint mobility.
Honestly, this is not difficult.
Which is why we have separate male & female categories but not separate categories for joint mobility.
Honestly, this is not difficult.
February 21, 2025 at 7:40 AM
Maybe because Phelps was 0.08% faster than the Olympic 2004 silver medallist but 1st male was 12.62% faster than 1st female.
Which is why we have separate male & female categories but not separate categories for joint mobility.
Honestly, this is not difficult.
Which is why we have separate male & female categories but not separate categories for joint mobility.
Honestly, this is not difficult.
Reposted by philbullett.bsky.social
Concern in Downing Street over Chagos Islands handover deal
Concern in Downing Street over Chagos Islands handover deal
Senior figures have reservations over agreement to cede sovereignty over islands to Mauritius, Labour sources say
Senior Downing Street figures have concerns about the government’s deal to cede sovereignty over the Chagos Islands, Labour sources have…
www.theguardian.com
February 5, 2025 at 7:10 PM
Concern in Downing Street over Chagos Islands handover deal
Reposted by philbullett.bsky.social
So re: the government's briefing about how it *has* to give up the Chagos, I have heard this explanation before from sources.
The truth is if Mauritius tries to interfere with US/UK radio spectrum use in the Chagos it will be sanctioned into the ocean floor. The danger is nil.
The truth is if Mauritius tries to interfere with US/UK radio spectrum use in the Chagos it will be sanctioned into the ocean floor. The danger is nil.
Story on why the UK govt wants to do the Chagos deal, why Diego Garcia is so important, and the agreement secured with Mauritius that officials say would keep China out >>>
Exclusive: Control of US-UK Military Satellite System Is Key to Chagos Deal
www.bloomberg.com/news/article...
Exclusive: Control of US-UK Military Satellite System Is Key to Chagos Deal
www.bloomberg.com/news/article...
Control of US-UK Military Satellite System Is Key to Chagos Deal
A satellite communications system used by the US and UK to run military operations is central to efforts by Britain to resolve the sovereignty of the Chagos islands, UK security officials familiar wit...
www.bloomberg.com
February 5, 2025 at 9:01 PM
So re: the government's briefing about how it *has* to give up the Chagos, I have heard this explanation before from sources.
The truth is if Mauritius tries to interfere with US/UK radio spectrum use in the Chagos it will be sanctioned into the ocean floor. The danger is nil.
The truth is if Mauritius tries to interfere with US/UK radio spectrum use in the Chagos it will be sanctioned into the ocean floor. The danger is nil.
Reposted by philbullett.bsky.social
Ed Davey tells me on LBC that the Chagos deal is "a shambles", that Mauritius is "calling all the shots" and the deal should be reviewed.
February 5, 2025 at 11:02 AM
Ed Davey tells me on LBC that the Chagos deal is "a shambles", that Mauritius is "calling all the shots" and the deal should be reviewed.