Is Labour destroying family businesses? | The Daily T Podcast

[@lionelkirbyshire7683]

We are about to witness the quickest destruction of the British economy ever. We're in trouble. This government is a total disaster. What is about to unfold is massive unemployment and debt.

[@iandougall7169]

This policy is deliberate and not really about tax take. It is about taking assets off people

[@SisterAbdullahX]

I agree. It makes me laugh when Two Tier talks of “investing in the country”. Governments don’t produce anything so have can’t “invest”, they can only spend the money generated from taxing the private sector. As that chap said, there soon won’t be a private sector to tax when all small businesses are foreign owned. The hatred I have for the Labour Party knows no bounds.

[@advocate1563]

Bluntly we won't make it as far as inheritance. The move from 19 to 25% corp tax, the employer NIC, iincoming worker's rights and exponentially increasing energy costs means we are out. SMEs were the group that got no Covid support. Our cash flow was already damaged. So we've decided to retire early, cash in our assets and get a more balanced international investment portfolio. We do not consider it safe to put our eggs in the UK basket.

[@Grahamponting]

Same! I have decided to retire early after 33 years of running a small business. Part of me wonders why I bothered. SMEs should be loved and protected, not despised and punished. We are the economy's engine room, providing most of the tax to enable the public sector to have outrageously generous unfunded pensions. This Budget represents the politics of envy at its worst.

[@MrTpain1945]

@@Grahamponting Me too.enough is enough

[@alanhardwick9694]

This is frightening for the UK.

[@1ForTheShieldz]

Try ir35 that has destroyed the of thousands of small businesses.

[@DagNeb_It]

This is George Orwell’s Animal Farm lady’s and gentleman.

[@Fairytale1293]

Major Starmer

[@1milliondogs]

Labour are going for very short term gain, over long term destruction.

[@advocate1563]

Medium term destruction. SME biz owners already taking action.

[@flyhi2773]

Short, medium and long term destruction. It’s like electing Mugabe, bunch of radical ideologues who don’t care about anyone but themselves. Basically stealing to throw money at their mates. There’s no genuine interest there in the country nor its people.

[@anthonywilson8998]

This family are paying 300 mortgages and all their dependents just like others in this position. They need support not more liabilities.

[@robertattwood7505]

Yes it is! Your guest has it in one!

[@paulmonkcom]

Farmers will be having an 'Awareness Rally' not a protest!

[@SisterAbdullahX]

“We are investing in the future of the country” by making small private businesses bankrupt.

[@laurencesmith1435]

Labours plan is to bankrupt small businesses, and nationalise large ones. Welcome to communist UK.

[@Fairytale1293]

Excellent report. These changes are frightening and the government’s unwillingness to listen is dangerous.

[@philiphoward4966]

There is no limit to the greed of Labour who waste the money grab on pet projects which contribute nothing to the quality of life. Career politicians who know nothing about running a business.

[@oldmcdonald6319]

It's getting to the point where a large percentage of the everyday man on the street could run the country better, truly shocking

[@NumptyBumpty-w9j]

Middle class university educated far left career politicians will destroy the backbone of this country, SME not the privileged public sector will generate the growth that pays for the services we want.

[@thesheffinator7124]

They either don't know what they're doing, or they do know what they're doing and that's the disturbing bit.

[@james_m_]

My sister owns a small retail company. These increases will not put the business at risk, but if the company is still here, she'll have to reduce the opening hours/reduce the hours the employees work to cover some of the costs - less hours, less income for employees and the business. Labour are clueless and repeat the same drivel; fix the foundations, 22B black hole... give it up we are not stupid.

[@givemoreblood]

we are so going to see a huge amount of layoffs next year

[@advocate1563]

Employment already softening. Recession incoming. Sad really because Sunak was starting to see some green shoots.

[@paulsawtell3991]

Then cue Labour outrage over job losses...

[@bufon63]

This is truly shocking. I truly wish Michael the best of luck.

[@jonnyfishcake1]

It's as if Labour don't want British business

[@SwatantraNandanwar]

It's about time the DT presses were shut down for spreading fake news. And the proprietors and editors put behind bars.

[@Fairytale1293]

Perhaps they want the farmers land and us to be dependent on Europe for our food.

[@wormfriend5625]

@@Fairytale1293 they have done for years!

[@stevefoster5789]

We have heard the news overnight that Homebase has gone into administration .Is this the first of many ?

[@charleswillcock3235]

Homebase has been badly run since Sainsbury's sold it.

[@stevefoster5789]

@@charleswillcock3235 Yes but the National Insurance contribution was probably the last nail in the coffin

[@Kapa1865]

Shoulda given Sunak another term, but the dummies voted him out 🤷‍♂️

[@Caratacus1]

They really don't know what they're doing. Or don't care...

[@klausschwab9828]

They DO know what they are doing. They are taking posession of all assets and land from the peasants. They do not believe in private property, blackrock and entities like them will own everything eventually and Labour are helping to facilitate that and they know it. Its not a conspiracy theory, and they are not hiding their intentions so its suprising to hear people say 'they dont know what theyre doing'.

[@coopsnz1]

@@klausschwab9828 no poltical class will own all the land there no corporation under communism lefty means no Blackrock

[@tomburroughes9834]

This government does not really care. I think there is an ideological dislike of privately owned firms, including family ones, because they tend not to do the bidding of the government and are harder to entangle into the arms of the state. Private firms are independent-minded, and that's a threat to those immersed in socialist thinking, like this government. That's the brute fact of what we did on 4 July, in electing such a government, on a 34% vote, on a 62% turnout, under our winner-takes-all system. I am not a fan of PR, but there has to be an improvement in how the democratic system works so we don't get mugged like this.

[@nicolassTRAVEL]

Uk is not united anymore

[@ant270]

It's united in hatred of the Labour party.

[@HawkMillFarm]

The first farmer rally visit to London won’t be in tractors. The second if it’s needed will be. Michael and others like him are in the same situation as us farmers. Recession heading our way like an express train (with an overpaid driver!j.

[@Rob-zx8lm]

Very interesting first hand update.

[@MrDunkycraig]

Anyone who doesnt think the public sector strikes of the last few years werent political and coordinated are mad. This is a terrible attack on private ownership

[@christineburgess3826]

Exactly, we are in a family business and we too consider our staffs situations all the time. We are giving jobs to locals and many of them have worked for us for 20 years plus. We gave two who were school leavers who have worked for us for 40: years.

[@tim.jenkins75]

we are lions being held back by donkeys !

[@jan2000nl]

Sure mate. That’s exactly what I think when I see the number of people on benefit and some of the lowest productivity. There goes some lions.

[@timwade1389]

Impossible to trust any politicians or political parties anymore

[@marumaru6084]

This government is now mandating pensions invest badly. If it was a good investment it would have a queue of investors!

[@yanchouser7364]

The nation has sacked Labour but they refuse to go. Make them go and pay back to the country what they have stolen.

[@SoloSi2024]

Guess what, nobody's inheriting anything while these new rules still exist. Farmers will sit it out until Kemi arrives.

[@cameronfateweaver2206]

Older generations are responsible for all of these problems.

[@blairparkay7132]

How was it a budget for growth?

[@davidrabbit2239]

Starmer is like a robot.

[@SandraUPG]

HAS KING CHARLES GOT THE POWER TO DISSOLVE PARLIAMENT AND CALL FOR A NEW GENERAL ELECTION?

[@rubensano4860]

Yes. The problem is he is part of the Regime.

[@horserous]

With 2.8tn in rising debt, IHT is just a drop in the ocean.

[@m0o0n0i0r]

I think no Inheritence tax, but I also think governments should not provide subsidies.

[@carlyboy888bradford3]

It is true what Rishi said after the budget in his response, they really don’t understand how business works none of them understand, they have no experience, who in their right mind will be growing their businesses now, add it all up together and it is the perfect storm, talking about growth doesn’t create it, incentivise investment otherwise there won’t be any and this government has absolutely destroyed the willingness for businesses to keep investing only to get hammered again and again.

[@benjamintowler7418]

The government are meant to work for the British people or not

[@charleswillcock3235]

The German term for a family-owned business is Mittelstand. These small and midsize enterprises (SMEs) are often the backbone of the German economy, employing around 60% of the country's workforce and accounting for more than half of its GDP. Many people point to these companies and point out that is what makes Germany Great. Rachel Reeves seems determined that we will not be having any of that in the UK. I cannot see where any significant growth in the next 5-years is going to come from apart from tax advisors showing how to avoid paying these new taxes. That part of the economy is clearly set for rapid growth.

[@felawes]

In five years the country could be wrecked. Build international assets. Buy overseas property.

[@mell3109]

They need to change the rules so it becomes known as the business continuity act as that is exactly what is required to keep the country going

[@paulp1802]

How do I get to work for this bloke?

[@JesterEric]

Starmer is going to destroy the British Kulaks. A kulak is a peasant wealthy enough to own a farm and hire labour. Emerging after the emancipation of serfs in the 19th century the kulaks resisted Stalin's forced collectivization, but millions were arrested, exiled, or killed.

[@colinnewmarch1106]

14 years they have been planning this car crash

[@garyh1572]

Why did i hear such a fuss when the Tories removed benefits from people ??? Tough.

[@DigbitsCoUk]

After the compounded impacts of the pandemic and inflation due to the Ukraine war, this budget was the very last thing farmers and small businesses needed. It will impact employees as hard as business owners. This is the most anti-business budget in the history of our own business. Labour are not the party of growth, they are the party of confiscation.

[@robertmargetts5407]

Labour need to go…. Now!

[@BrianWillcox-qp2hr]

I don't care, it's none of my business. 😅

[@LordbomberD]

This woman lied on her CV and in no way should she be in that position. Its disgusting for this shower to be in power.

[@bikbikkidbik2895]

Anything labour does ,goes to 💩

[@paulpanther4772]

Labour have NEVER been a party of aspiration!. It’s only ever been about politics of envy. They are a disgrace

[@forcemajeure3359]

Labour will be kicked back into the opposition benches in 4.5 years or less.

[@Joseph-w4z]

Simple answer yes.

[@billharcourt5950]

The GVT have not one iota business acumen...they are going destroy businesses it is frightening... Better sell up and move on and enjoy the fruits of your hard work.

[@danh5637]

Is it not possible for him to set up a foreign company and sell the business to himself wrapped as this foreign company. And therefore get around the inheritance rule?

[@alexaccleton1031]

It still needs to work Starmer!! This will lead to contraction

[@maxthemagition]

The game is up and Brexit Britain is broke. That is how serious the situation is. North Sea oil and gas is running out and our beloved Welfare State cannot continue as it is because it is overburdened.

[@Shmimbleton]

Brexit derangement syndrome still?

[@russellmorgan6703]

Hopefully labour will be voted out by 2026! That’s down to us

[@ruth3860]

If family are already director shareholders I presume this doesn't apply? Can someone clarify?

[@ianbird8617]

Does King Charles estates pay corporation, inheritance tax and VAT……..eh no. Is this fair?

[@johfroneman3414]

Where is Camilla?!

[@est8agent]

We are a nation of lions led by sheep, we have a government with virtually zero business experience between them, making disastrous business decisions.

[@clivestraw1913]

Why dont the commons or lords oppose these stupid ideas

[@martinnash9307]

Businesses will fold reduce manpower or consider leaving the United kingdom!

[@leecollins5497]

Labour will never be voted for again

[@davidpearson243]

They are still ahead in the opinion polls

[@leecollins5497]

@davidpearson243 I'm not quite convinced of that 😂 Back in July labor 39% Conservative 21% ref 17% On the 12th of November The Telegraph (yes I'm aware who they are 😂) just reported that Con are two points ahead at the moment. I know a few people who have buyers remorse at the moment. I can't see them surviving 5 years

[@JonDingle]

Red Rachel, the Communist Chancellor.

[@maxthemagition]

Brexit Britain is broke. Something must be done to get businesses successful and contributing to the economy else Britain will become a Nation of Pensioners and Welfare beneficieries supported by taxing anything else left in the Country. London and the South east of England is where most of the wealth and tax is and if there is a flight of wealth from the UK then the game is up for Brexit Britain. Our small to medium sized businesses cannot support the rest of the almost 60 million people along with all the services like Education NHS and Welfare. Since Thatcher anything of any value has been sold off and is in the hands of foreign ownership who can avoid UK Taxes. Where are those who add value and employment to the UK?

[@johnlesoudeur3653]

Starmer should just say "that's the way to do it". He sounds so much like punch (of Punch and Judy fame) with his weird voice.

[@BozidarZabavnik]

Labour Party MPs will have to emigrate , can I recommend Pakistan.

[@shig4238]

None of these clowns has ever run a business

[@chrismason8476]

Yes

[@mosheridan7016]

Can't even listen to these labour clowns

[@coopsnz1]

truck tax 15% more in australia under labor 10%^ carbon tax & fuel excise up 6% plus council rates up 6%

[@sacredgongs]

Agenda Agenda follow the Money

[@katrinacarlton4805]

That's there plan so big business rule and government rule big business

[@colinhooper6621]

And this party wants your pension pot to invest. So struggle when working, retire into possible poverty

[@ChrisVaughan-gj7ve]

/everything

[@MikeSkinner-x8f]

Starmer is a liar & traitor

[@saelaird]

Wrecking ball Reeves is a clown.

[@patrickormerod3472]

yeh

[@nicolassTRAVEL]

Brexit benefit

[@richardhoneysett2965]

The underlying problem over the tax hikes are simple to explain . For 14 years the Conservative government encouraged low wages and zero hour countracts for the lower class workers . This was extremely lucrative for business owners accross the board of employers. Now Labour is in government they have gone the other way by taking away that perk which businesses got used to having and have supported the workers instead . The clearly dont like it but will get over it ... A close friend who runs a large business , when asked , simply said it was good while it lasted but was never fair and things that arent fair never last . What a gent ! As for the complainers , stop winging and accept it , slavery is long gone !

[@nicolassTRAVEL]

Brexit mess

[@crazyjay7676]

Someone has to pay and I'm afraid it's gotten be the wealthy people. Stop bleeding and just pay your taxes.

[@christineburgess3826]

The rich are already paying, most people paying 40% tax are also doing more to top up coffers as in employing people in their businesses whilst looking after staffs welfare. I could go on

[@missedcalls]

Stop crying and and pay your tax like everyone else, with pride

[@Simon-zb6fp]

How can a shareholding of £1 million be regarded as a small business? Ah it's not a small business...... it's a family business

[@garyh1572]

Pay your tax like everybody else !!!!!!

[@96donov]

Your son can buy your business instead of inheritaning it,

[@paulsawtell3991]

With what?

[@JSmith19858]

Ah right. So we had 14 years of absolute economic mismanagement, and yet after one middling budget British industry is now going to implode because an SME owner has to pay out a few extra £s. Get your heads on straight, eh

[@SisterAbdullahX]

It isn’t “an” SME, it’s EVERY SME. And it isn’t a “few extra £s”, it’s a massive increase in taxation which will absolutely lead to wage cuts, job losses, higher inflation, higher unemployment and real misery and hardship for ordinary working people. Typical leftist thinking. Can’t see past business owners making profits or that these business owners employ hundreds of ordinary people, allowing them to live comfortably. What a prize bellend!

[@davidpearson243]

It’s wonderful watching and listening to Tories crying about paying tax !!!! A wonderful budget for ordinary people

[@SisterAbdullahX]

Until those “ordinary people” find themselves unemployed because the business they worked for is taxed out of profitability.

[@davidpearson243]

@ I worked business for many years I retired 3 years ago at 55 after a successful career It was embarrassing how much profit our business was making and the schemes used by tax accountants to avoid paying taxes

[@SisterAbdullahX]

@ Good for them. Making a profit is what businesses are supposed to do, it’s nothing to be embarrassed about. The more profitable they are, the more they can grow and employ “ordinary people”, allowing those people to have happier, more comfortable lives. The raft of tax changes in the last budget, coupled with the cost of energy due to the Net Zero nonsense, will impact ordinary people the hardest.

[@2pakilluminati157]

This is a the daily tory-graph, what does one expect?

[@coopsnz1]

home ownership & business ownership tanked since the 80s in australia not just in uk because of bigger government and more taxes

[@nicolassTRAVEL]

Brexit disaster

[@nicolassTRAVEL]

Brexitd disaster

[@alexsocial9525]

Ah yes labour are destroying british farmers... What about Brexit? Missing the common market yet Britain?

[@coopsnz1]

just like australia victoria labor & communist green 15 yrs

[@willempasterkamp862]

britain isn't selfsufficient on food, all produced is hardly needed internally. don't need an external market.

[@michaelharper8407]

Well brexit is expensive, nice move Britain, Scotland should leave and Ireland needs re unification.

[@Silsoe123]

Brexit nuff said

[@coopsnz1]

in sinagpore a studio apartment with a bedroom loft sold 1 million pounds

[@coopsnz1]

labor destroying franchise owners aswell that were once independents or still independents today

[@coopsnz1]

My uncle own 3 dairy farms in nz his cost gone up $4500000 nzd a yr because of environmental taxes introduced by labor ! fuel excise has gone up 5% more under national they both suck

[@sarahann530]

Maybe he should sell 2 if he cant afford to keep them all going