David Norris
@borisnorris.bsky.social
Nothing changes the course of history. Whatever happened was inevitable; whatever didn't happen was impossible.
Too much ‘austerity’, but don’t raise taxes or borrow any more.
November 28, 2025 at 8:46 AM
Too much ‘austerity’, but don’t raise taxes or borrow any more.
Some sympathy with this morning’s interview with PJ, but the interviewer’s job is to ask questions and raise points it is thought the audience may want to hear answered. That doesn’t mean it is a personal agenda
November 28, 2025 at 8:39 AM
Some sympathy with this morning’s interview with PJ, but the interviewer’s job is to ask questions and raise points it is thought the audience may want to hear answered. That doesn’t mean it is a personal agenda
I am merely pointing out that all taxes are paid out of income. They might be calculated by reference to the valuation of an asset, but they are paid out of income.
( The one exception is where a donation of a work of art is taken in lieu of IHT rather than the art be sold)
( The one exception is where a donation of a work of art is taken in lieu of IHT rather than the art be sold)
November 27, 2025 at 11:34 PM
I am merely pointing out that all taxes are paid out of income. They might be calculated by reference to the valuation of an asset, but they are paid out of income.
( The one exception is where a donation of a work of art is taken in lieu of IHT rather than the art be sold)
( The one exception is where a donation of a work of art is taken in lieu of IHT rather than the art be sold)
Yes, the lender wants an agreed valuation. If you’re paying an additional tax out of taxed income, it is just a very large tax on income. 2% tax on assets translates into a much larger tax on revenue from those assets.
November 27, 2025 at 11:14 PM
Yes, the lender wants an agreed valuation. If you’re paying an additional tax out of taxed income, it is just a very large tax on income. 2% tax on assets translates into a much larger tax on revenue from those assets.
But you can’t pay the tax with the wealth. The tax is calculated by reference to a valuation of the asset. You then have to pay the tax with money - from revenue, which has probably already been taxed.
November 27, 2025 at 9:59 PM
But you can’t pay the tax with the wealth. The tax is calculated by reference to a valuation of the asset. You then have to pay the tax with money - from revenue, which has probably already been taxed.
It is a bit of populist policy; it raises next to nothing and will lead to lots of debates over property value
November 27, 2025 at 9:42 PM
It is a bit of populist policy; it raises next to nothing and will lead to lots of debates over property value
I think this a sensible decision.
November 27, 2025 at 7:58 PM
I think this a sensible decision.
I think Michael Portillo as Transport Minister was instrumental in saving it.
November 27, 2025 at 7:40 PM
I think Michael Portillo as Transport Minister was instrumental in saving it.
Where do you hold your proceeds? Proceeds of the sale of an asset are plainly revenue/income. Quite probably taxable income. What did you buy the original asset with?
November 27, 2025 at 6:36 PM
Where do you hold your proceeds? Proceeds of the sale of an asset are plainly revenue/income. Quite probably taxable income. What did you buy the original asset with?
It is exactly what it produces. It may well be taxed as income, and it would be applied in satisfying any applicable wealth tax.
November 27, 2025 at 6:12 PM
It is exactly what it produces. It may well be taxed as income, and it would be applied in satisfying any applicable wealth tax.
It’s income. Which is why there is an argument to more closely align CGT with income tax.
November 27, 2025 at 5:28 PM
It’s income. Which is why there is an argument to more closely align CGT with income tax.
The proceeds of sales are income. There is an option to reinvest, net of any tax liability.
November 27, 2025 at 5:11 PM
The proceeds of sales are income. There is an option to reinvest, net of any tax liability.
Very likely right. Russian infiltration and influence is rife in western democracies I suspect.
November 27, 2025 at 5:02 PM
Very likely right. Russian infiltration and influence is rife in western democracies I suspect.
Proceeds from sales are income; expenditure is spending income; profits are income.
November 27, 2025 at 4:58 PM
Proceeds from sales are income; expenditure is spending income; profits are income.
How is the tax paid? In money or in kind? If money, where does that money come from?
November 27, 2025 at 4:23 PM
How is the tax paid? In money or in kind? If money, where does that money come from?
How the UK came to control the whole Indian subcontinent, which in total was far richer, was just glossed over.
November 27, 2025 at 1:27 PM
How the UK came to control the whole Indian subcontinent, which in total was far richer, was just glossed over.
Ultimately wealth doesn’t pay tax, income does.
November 27, 2025 at 1:25 PM
Ultimately wealth doesn’t pay tax, income does.
17,000 murders in USA last year. 488 mass shootings.
But 1 shooting by an Afghan shows how murderous immigrants are.
But 1 shooting by an Afghan shows how murderous immigrants are.
November 27, 2025 at 11:04 AM
17,000 murders in USA last year. 488 mass shootings.
But 1 shooting by an Afghan shows how murderous immigrants are.
But 1 shooting by an Afghan shows how murderous immigrants are.
A Batman in a pub shaking a cocktail would raise my suspicions
November 27, 2025 at 8:56 AM
A Batman in a pub shaking a cocktail would raise my suspicions
My main complaint about the series is that 3 episodes was far too few to cover such an enormous topic. It was both superficial and detailed in tiny snippets.
November 27, 2025 at 8:52 AM
My main complaint about the series is that 3 episodes was far too few to cover such an enormous topic. It was both superficial and detailed in tiny snippets.
She is my MP. I’ve not had to call on her help, but she seems to be a good constituency MP. Unfortunately representing the wrong party.
November 26, 2025 at 11:24 PM
She is my MP. I’ve not had to call on her help, but she seems to be a good constituency MP. Unfortunately representing the wrong party.