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Fuel duty freezes since 2010 have cost the Treasury over £46 billion in lost tax revenue. The cost of this giveaway to motorists is now running at over £8 billion/year. It's bad for the environment too, as it encourages car use over public transport use.
parliament.uk/written-questi…
That amount is nearly 50% more than the total cuts to welfare payments, housing subsidies and social services since 2010. In other words, none of those cuts would have been needed if fuel duty had continued to rise like it used to before the Tories came to power!
Bear in mind too that car ownership is just 35% amongst the poorest 10% of UK households, so 2/3 don't benefit from the fuel freeze whereas all will have been affected by the cuts.
But it's much worse than that. Not only do poorer people own fewer cars, they also drive much less far. Compare the average mileage of the 20% of people with the highest & lowest incomes. In other words, the fuel tax freeze benefits the rich most, by far!
assets.publishing.service.gov.uk/government/upl…
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Edwin Hayward ('Slaying Brexit Unicorns' author)
@uk_domain_names
It's been 3,481 days since the Tories took power.

Think about all the changes that happened in your own life since 6 May 2010...

It's a long, long time in political terms!

Yet they're still trotting out the "Labour wrecked the economy" excuse on the campaign trail every day.
Do you know why? Because they don't have a *real* excuse. They've mismanaged the NHS, underfunded schools, slashed police numbers, and wrecked local services. Meanwhile, the rich have become richer and richer and richer.
This isn't an empty assertion. If you can bear it, pour yourself a stiff drink and then dive into the thread below, which shows how the Tories have systematically ruined the UK over the last decade (it says 10 examples but I kept finding more, so it's actually 38+!)
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Edwin Hayward ('Slaying Brexit Unicorns' author)
@uk_domain_names
"The awkward relationship between Brexit and facts"

An extract from my book "Slaying Brexit Unicorns", available on Kindle and in paperback from Amazon. Looks at the problem of false equivalence in the Brexit debate, and other related issues...
And here's an extract that debunks the absurd "Get Brexit done" narrative, explaining exactly why Brexit will not end on Brexit Day.
Finally, here's a look at Freedom of Movement and everything it offers us...
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Edwin Hayward ('Slaying Brexit Unicorns' author)
@uk_domain_names
Here's the big problem with Labour's broadband plan: what happens when people want to pay more for a faster service than the "free for everyone" offering, but can no longer do so because other players have been driven out of the market by the State's monopoly?
Already today some select cities have access to gigabit ethernet, others to speeds of 500Mbps or 350Mbps. All are significantly above the 100Mbps that is being used to define ultrafast broadband. But if the companies offering those speeds get pushed out of the market, game over?
In the next 2-5 years, private firms have plans to bring near gigabit speeds to over 10 million UK households. But all those plans may be put on hold if Labour dives in boots-first and disrupts the market (not in a good way).
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Kristen LaFrance
@kdlafrance
In the last 65 days, Bombas has sent me 24 emails. 23/24 were 100% product or sales based.

That's roughly one PRODUCT #email every 2.5 days for the last 2 months.

I opened 3/24 (mass opened all today for image) and clicked on 1/23.

This is dangerous.

<thread>
Email marketing is a commodity for DTC brands.

As a solid benchmark: about 30% of #DTC brands revenue should be coming from email marketing.

💸💸💸
If you’re running $10 mil a year in revenue and email is driving 30% (or has the potential to drive 30% of your revenue), that’a $3 million asset. 😱

It needs to be treated as such.

First stop: Protect your list, focus on engagement.

👇
Read 18 tweets
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Santa Fe Institute
@sfiscience
"Information theory, predictability, and the emergence of complex life"

SFI Seminar by Luis F Seoane of @IFISC_mallorca, streaming now:
"The size of the #environment in some ways captures the #complexity...longer words take longer and longer to sample. This means in smaller environments, smaller words mean more."

- Luís Seoane of @IFISC_mallorca on #information right now:

"More-complex bit guessers are going to survive in a wider variety of environments. But a more-complex guesser is going to pay a higher metabolic cost."

- Luís Seoane of @IFISC_mallorca

Streaming now:

#computation #intelligence #evolution
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Seymour Sludgeworth
@SSludgeworth
Dear Liberals:

Corporations do NOT pay taxes. All taxes are considered as an additional cost of the product or service the Corp provides. This additional cost is passed on to the consumer (you) of the product of service in the form of higher sales prices.
Ultimately, all Corp taxes are paid for by the consumer (you and me). Thus, they are effectively a highly regressive hidden tax imposed by the Gov't on the consumer.
Instead of having to raise your individual taxes to pay for Gov't operations, higher Corp taxes allow Gov't to hide how much more it is charging you in new taxes by stating it is charging the Corp for entire cost of the new tax.
Read 12 tweets
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Steve Howell
@FromSteveHowell
1/2 Corporation tax cuts have doubled dividends - not boosted investment.

Remember the Osborne & Hammond mantra? They said big companies would invest more if tax on their profits was cut.

Instead dividend payouts have doubled - and investment's been flat.reut.rs/WDByUp
2/2 In 2010, big companies paid 28% tax on their profits. This will be down to 17% next year.

Lost tax revenue is set to exceed £20 billion a year. But there's no sign of an investment boost.

Instead, dividends paid by FTSE100 companies have DOUBLED - to more than £90 billion!
Footnote: Dividend figures are from broker A J Bell who say dividend growth's mainly driven by banks, fossil fuels, drink & tobacco.
ajbell.co.uk/sites/ajbell.c…
On the cost: £16.5bn a year is already being lost. Moving to 17% will cost a further £6.2bn a year.
theguardian.com/politics/2019/…
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Naomi Allen
@girlyGRRRL
Wealth gap. Yes, it's a problem. We're seeing the biggest wealth divide since the Victorian Age. But it doesn't mean the American Experiment is a failure, and we don't have to smash the whole system to make things better. All we have to do, is undo Reaganonomics.
2/ How Reaganomics destroyed the American Dream and created the wealth gap that keeps getting bigger. (Tax cuts for the rich.) + (Fuck w/ the brackets, and eliminate deductions and tax credits to make up for lost tax revenue.) = (Increased tax burden on the middle class).
3/ What does this mean? A tax attorney will tell you, it means that the middle class isn't real. We now have the biggest income medium, but the middle class only gets to keep so much of what they earn. It's an income cap, that keeps us poor until we earn over $3 million a year.
Read 7 tweets
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Tom Paine
@TomPaine1737
With Deustche Bank all over the news again, it’s worth a little time to look not only into their history but also who currently has a vested interest in the 15th largest bank in the world (according to 2018 S&P Global Market Intelligence report).

I - IX
According to Article 33, §1 of the German Securities Trading Act, Deutsche Bank is required to publicly disclose large shareholders. On their company website there are 6 individuals or entities listed as of 1/18/2019.

II - IX
BlackRock, Inc.
Wilmington, DE

III - IX
Read 36 tweets

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