Bubblesofearth wrote:Nimrod103 wrote: Whom should I blame for the UK's failure?
The same person we always blame for everything. Somebody else.
... those that are appointed as representatives. Parliament/MP's. When they act poorly/selfishly, everyone else suffers. More so when there's no accountability (other than perhaps a inquest that takes many years and imposes no penalties (sweeps things under the carpet)).
When taxes for instance are unfair/unreasonable capital/investment is inclined to locate elsewhere. Buy/invest in the UK and that capital investment is taxed from day one even if it makes no profits. £100 invested for 10 years, when there's 4% inflation (Pound debasement such as via the state printing/spending additional Pounds), sell the same asset/business for £150 (inflation adjusted £100) and the state claims tax on the 50% 'capital gain'. a.k.a a form of wealth tax (have to 'invest' to avoid devaluation via debasement (inflation), relatively punitively taxed when you do). Net consequence is capital (people with money) move and pay fair (less punitive) taxes elsewhere, such as Switzerland where inbound capital is promoted such as via tax exemption of income and wealth tax from foreign business or real estate. It's constitution also mandates that taxation must be general and equal in nature and proportionate to one's ability to pay. Disproportionate impedes certain individuals, not others, for instance a traffic/parking infringement of £160 might be a third of one persons weekly take home pay penalty, significant, for another it might be insignificant/trivial.
The UK's poor management, tendency to often change the rules, tax unfairly, spend unwisely, is a repellent. Leading to where impression of 'growth' can only be accomplished via net migration "The return on gold does not depend on the fulfillment of some material condition. It is an ideological problem. It presupposes only one thing: the abandonment of the illusion that increasing the quantity of money creates prosperity.” Ludwig von Mises
GDP for instance as a measure is ... pretty much meaningless without context - such as relative GDP/capita. And/or measures should reflect relative debasement
![Image](https://www.onestopbrokers.com/wp-content/uploads/2018/01/currencies-in-gold.png)
Why store/hold/invest in £50 and £20 notes when alternative "currencies" such as US stock share certificates and gold can also relatively quickly/easily be converted into £10/£5 notes for local 'bartering' purposes.