Friday, 14 February 2014


I know you can't believe everything (anything?) you read on Facebook, but I found these two comments interesting:

Rascal N Dear: Ukraine is already in virtual collapse because of the level of rent-seeking, which has skyrocketed in the last four years and is almost completely being concentrated into the hands of a small group of unbusinesslike individuals (and their proxies, like Serhiy Kurchenko). People are giving up on doing business. Small business has seen over 200,000 entrepreneurs quit in the last few years. That's a disaster for Ukrainians.

Rascal N Dear: Problems began in 2010 when pension contributions were suddenly foisted on sole entrepreneurs, which quintupled the minimum monthly tax rate. Then in January 2012 more changes (three categories with % rates rather than flat taxes) came that drove more of them into the shadow economy. The only source I can offer now is Ukrainian:

The future for the UK?


Mark Wadsworth said...

Not the future, the present.

DBC Reed said...

These Ukrainians are moaning about the inestimable benefits of being freed from the Red Terror and liberated into the wonders of laissez faire?You just can't help some people.

Bayard said...

DBCR, the grass is always greener on the other side of the Iron Curtain.

Lola said...

At a lecture recently about the introduction of 'auto-enrollment'.
In short it is an insane bureaucratic mess. It's purpose is to dragoon people into money purchase pensions in order eventully to reduce the costs of state pensions. And not only do contributions fall on employers the implementation rules are so complex that they will be forced to employ people like me - more costs.
Of course my peer group love it as it gives us another excuse to charge, But realy, who needs it?

Mark Wadsworth said...

L, forcing people to spend money on buying into a limited pool of shares and bonds will not significantly increase their income in retirement, it will merely push up the price of shares and bonds.

That's reason #1 why auto-enrolment is a shit idea.