John Redwood (Wokingham) (Con):
Briefly, what will be the direct impact of the Bill on the cost to the state and to business?
Kevin Hollinrake, Minister of State for Enterprise and Markets:
The annual cost to business is £178 million, which we must consider carefully when we bring forward new regulatory burdens, but most people will think that the measures are needed because there is a huge consumer benefit of roughly £1 billion a year over 10 years, so it is important that we strike that balance. I am not aware that the cost to the state has been calculated, but my right hon. Friend and I are probably most concerned about the cost to business.
May 19, 2023
Good morning.
Sorry, but can someone please both my figures and what I am reading here ?
And
Assuming that £1bn is a thousand million, and this £1bn is over 10 years, this means that the saving is £100m per year against a loss of £178m per year. Leading to a loss of £78m.
Is that right ? Because if that is, then you are going to do something that is going to cost us more than we save.
No wonder we are in such a mess.
May 19, 2023
How did they calculate the £1 billion benefit? Sounds rather/very unlikely.
Kevin Hollinrake is rather unusual for an MP in that he studied physics (at Sheffield Poly so I assume duff A levels but then he dropped out). Still rather more science than nearly all MPs. Our idiotic Minister of State for “Energy Security and Net Zero” (a direct contradiction in terms) who also dropped out of university (Cambridge Philosophy and Law). No wonder we have such a moronic, religion driven, expensive job destroying energy policy. The man is even more deluded than the tearful joke Alok Sharma now off to the Lord’s I see that (thanks to greencrap pusher Boris or was it the bonkers Carrie driving this?)
Then were have the Secretary of State for Transport (PPE Oxon yet again). The Government web site still claims cycling and walking produce no CO2 direct or indirect per mile.
So:-
A. Is it written by ignorant morons or
B. Are they just lying?
It is powered by very inefficient extra human food intake which causes huge CO2 outputs on the UK diet. Walking is certainly far less CO2 efficient than a car with four people in it if you do the maths – but this is perhaps beyond the Minister or his “experts”.
Not that a little more CO2 is a bad thing anyway.
May 19, 2023
Indeed a huge waste of money then. Also why quote a one year figure against a ten year figure – deception & spin I assume.
Doubtless government thought the Covid “vaccines” were safe and effective & produced many £billion of benefits to the public too. Yet we know now they have certainly done huge net harm (this was clear to authorities & “experts” (or should have been) before they were ever authorised just from the trial data). Worse still it has done this even to many young people killed or severely injured – who were never at any real risk from Covid at all. Perhaps losing 60 years+ of life where Covid was only taking a couple of years in general. Where are the criminal investigations for gross negligence/manslaughter? Grenville Tower circa 70 deaths & endless inquiries, Covid vaccines death perhaps heading towards 100,000+ and we have little Idea yet of the long term prognosis.
May 19, 2023
“Because if that is right, then you are going to do something that is going to cost us more than we save.”
But this is very normal for this government and for governments in general. Driven by vested interest and often pure corruption.
Net zero costs £ trillions and has huge net negative effects for the public.
The Covid “vaccines” likewise. Test and Trace, HS2, the lockdowns, the road blocking, the war on landlords and small businesses, the absurd duff aircraft carriers without suitable aircraft, Blairs devolution, the push for heat pumps and EV cars…
May 19, 2023
A staggering mistake in judgement. Will the £178m reduce over time, or even increase?
Similarly, when does the estimated £1bn payback? Over 10 years is a pretty vague comment.
May 19, 2023
“£1 billion a year over 10 years” is sloppy syntax.
It is probably meant to be: £10 billion within a decade.
May 19, 2023
‘The annual cost to business is £178 million’
Some say shift the tax burden to business and industry, but business doesn’t pay taxes. Oh, don’t get the wrong idea. Business is being taxed, so much so that we’re being priced out of the world market. But business must pass its costs of operations – and that includes taxes – on to the customer in the price of the product. Only people pay taxes, all the taxes. Government just uses business in a kind of sneaky way to help collect the taxes. They’re hidden in the price; we aren’t aware of how much tax we actually pay.
— Ronald Reagan, Address to the Nation on the Economy, February 1981.
May 19, 2023
“direct impact of the Bill on the cost to the state and to business? “
That should be rephrased ‘cost to UK to business’ the internet is a Global entity, the profit taking is outside of the UK and outside of UK Jurisdiction. So in essence the Bill will penalise UK based Companies and as a consequence reward all others. So the Bill is intended to crucify any UK start up wishing to earn money on the World stage before it gets of the ground