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2011 Election Thread

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Elly
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Re: 2011 Election Thread « Reply #30 on: May 06, 2011, 02:37 PM »
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^ Love it when you go all masterful, Yamor! Very Happy
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Caz
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Re: 2011 Election Thread « Reply #31 on: May 06, 2011, 02:42 PM »
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Read what I've written above...
Thanks Yamor, I missed that earlier but, it only answers part of my question! How much does England get from Scotland and why does Scotland get more per head back? There must be a reason. Is it to do with Scottish resources?
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Daisy
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Re: 2011 Election Thread « Reply #32 on: May 06, 2011, 03:25 PM »
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Markus: New big discoveries of oil in the North Sea? Since when?

Sockpuppet: I'd like to see where you read that.

It's my understanding that it is in serious decline?

Also - while painting and therefore listening to the radio - it was stated that the first thing Alex Salmond is going to do is look for ways to increase taxation !!!
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Yamor
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Re: 2011 Election Thread « Reply #33 on: May 06, 2011, 03:26 PM »
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Scotland does get more, because the Scottish population used to be a bigger proportion of the UK population. The formula now used only considers the population change for increases/decreases to the yearly budget, so a budget increase/decrease will be in proportion to the current population levels, but not the amount carried forward from the previous year.

Scottish GDP per-capita (per-head) is lower then the English GDP per-capita, however, that does not include the gas and oil fields. Depending on how they'd be split up between England and Scotland, the Scottish GDP would increase to higher then most regions of England (probably all except for London and the South-East) with oil and gas included (because Scotland has a much smaller population, a decent amount from the gas and oil fields increases the GDP per-capita far more then it does for England).

However, I do remember it being calculated somewhere that the amount extra that Scotland has received over the years does outweigh the extra revenue from oil and gas.
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Sir Panda
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Re: 2011 Election Thread « Reply #34 on: May 06, 2011, 03:57 PM »
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Scotland imo, does have the resources to go it alone.

Not just the North sea oil, but we're massive exponents of renewable energy. Scotland looks set to be a hub of research and a large provider of wave and tidal energy, which look to be the most efficient types of renewable energy in Europe.

However, I still think there's enough support for the union in Scotland. This result came about because Alex Salmond is the only credible politican in Scotland, and he did a fine job in his first term.
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Daisy
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Re: 2011 Election Thread « Reply #35 on: May 06, 2011, 04:00 PM »
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Alex Salmond's fight to protect local income tax secrets

http://www.telegraph.co.uk/news/uknews/scotland/8418188/Alex-Salmonds-fight-to-protect-local-income-tax-secrets.html
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Aileen
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Re: 2011 Election Thread « Reply #36 on: May 06, 2011, 04:01 PM »
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Just caught up with the final result.  Absolutely incredible that the SNP are the first party to have an outright majority at Holyrood, and I'm delighted because they've done so much for Scotland  - but I'd be wary about voting for independence the main reason being that Alex Salmond is a very strong leader and a shrewd economist, but he's not going to be around forever.  Voters have shown their disillusionment with the parties at Westminster but they could become equally disillusioned with a weaker SNP.

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Daisy
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Re: 2011 Election Thread « Reply #37 on: May 06, 2011, 04:12 PM »
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And apparently this is how the Local Income Tax would work.

A Fairer Local Tax for Scotland

Annex A: Calculating your Local Income Tax

This Annex contains some information to help you work out your liability. You need to know:

what your total taxable income is for the year. This information is generally contained in documents such as a "P60"
what your personal allowance is. For tax year 2008-09 the following personal allowances apply (please note that the following data are taken from the HMRC website):
Income tax allowances

2008-09 (£)

Personal allowance

5,435

Personal allowance for people aged 65-74 (1)

9,030

Personal allowance for people aged 75 and over ()

9,180

Married couple's allowance (born before 6th April 1935 but aged under 75) (1) (2)

6,535

Married couple's allowance - aged 75 and over (1) (2)

6,625

Income limit for age-related allowances

21,800

Minimum amount of married couple's allowance

2,540

Blind person's allowance

1,800

(1) - These allowances reduce where the income is above the income limit by £1 for every £2 of income above the limit. They will never be less than the basic Personal allowance or minimum amount of Married Couple's allowance.

(2) - Tax relief for the Married Couple's allowance is given at the rate of 10 per cent.

Once you have this information you need to do the following:

Step one:

Deduct your personal allowance from your gross annual salary - that is the amount you get paid before any taxes have been deducted.

Step two:

Calculate 3% of this figure. One way of doing this is to divide the figure by 100, and then to multiply it by 3.

Example (2008-09)

You have a gross income of £20,000.
You deduct your personal allowance, which is £5,435, leaving £14,565.
You then calculate 3% of this:
£14,565 divided by 100 is £145.65
£145.65 multiplied by 3 equals £436.95
The amount of local income tax you will pay over the year will be £436.95. You pay income tax through PAYE and you are paid monthly, so your employer will deduct £36.41 a month from your salary
Warning

The above method only gives you an indication of the tax you will pay. The actual amount may vary slightly. This is because there is a range of different ways in which the amount of tax you pay can be affected. For example, if you donate money to a charity through the "Give As You Earn" scheme, then this money is deducted from your gross salary, and so reduces the amount of income tax you will pay. It is impossible for us to produce a user-friendly calculator that can take into account all of the possible variations on individuals' tax amounts.

You can get a more detailed idea of your likely local income tax by looking at your payslip to see exactly how much of your income is liable for income tax.

If you pay by self-assessment then you will be able to see your taxable income from your last tax return.

While accurate at time of publication, the information above may change due to the Budget on 12 March 2008.
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Mark
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Re: 2011 Election Thread « Reply #38 on: May 06, 2011, 04:19 PM »
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Markus: New big discoveries of oil in the North Sea? Since when?
I said sizabe as in stand alone commercial rather than the well having to be connected with others for it to go into production. Xcite energy are doing pretty well for example,

The pilot section confirmed 113ft oil column, some 40ft thicker than the 73ft prognosis, in a high quality Dornoch reservoir and confirmed the oil water contact at 3729ft total vertical depth (on prognosis). The oil column has 100% net to gross (compared to previous average of 88%). Management believes that this height of oil column confirms that an upside structure is present in the eastern half of the reservoir, significantly increasing the volume of oil in place.

It's my understanding that it is in serious decline?
Existing production wells, yeah probably but I'm talking about exploration potential.
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ChrisMac
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Re: 2011 Election Thread « Reply #39 on: May 06, 2011, 04:40 PM »
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Well Done SNP!  clap Congratulations to Alex Salmond, I am delighted with the results. udaman
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Caz
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Re: 2011 Election Thread « Reply #40 on: May 06, 2011, 05:02 PM »
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Scotland does get more, because the Scottish population used to be a bigger proportion of the UK population. The formula now used only considers the population change for increases/decreases to the yearly budget, so a budget increase/decrease will be in proportion to the current population levels, but not the amount carried forward from the previous year.

Scottish GDP per-capita (per-head) is lower then the English GDP per-capita, however, that does not include the gas and oil fields. Depending on how they'd be split up between England and Scotland, the Scottish GDP would increase to higher then most regions of England (probably all except for London and the South-East) with oil and gas included (because Scotland has a much smaller population, a decent amount from the gas and oil fields increases the GDP per-capita far more then it does for England).

However, I do remember it being calculated somewhere that the amount extra that Scotland has received over the years does outweigh the extra revenue from oil and gas.
Thanks again Yamor, that answers another part of my question.
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Caz
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Re: 2011 Election Thread « Reply #41 on: May 06, 2011, 05:11 PM »
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Scotland imo, does have the resources to go it alone.

Not just the North sea oil, but we're massive exponents of renewable energy. Scotland looks set to be a hub of research and a large provider of wave and tidal energy, which look to be the most efficient types of renewable energy in Europe.

However, I still think there's enough support for the union in Scotland. This result came about because Alex Salmond is the only credible politican in Scotland, and he did a fine job in his first term.
Thanks Sir Panda.......That's another very interesting part of my question answered. My husband seems to think that England would be 'better off' without Scotland. I disagree! Yes, I think Alex Salmond is doing a fine job and that was a good result for Scotland. I think too, his promise of 'no student fees' helped a lot!
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Caz
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Re: 2011 Election Thread « Reply #42 on: May 06, 2011, 06:32 PM »
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Hey guys, David Cameron has just said on TV that if Scotland wants a referendum for Independence, he will fight it with 'every fibre of his being!' Hmmmm!
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Sir Panda
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Re: 2011 Election Thread « Reply #43 on: May 06, 2011, 06:33 PM »
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Good, and so he should.
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Daisy
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Re: 2011 Election Thread « Reply #44 on: May 06, 2011, 06:35 PM »
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And, speaking of a Referendum, someone on the Radio (English) felt that the Scots should not be allowed to do this on their own, that the English should have a say. 
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