| All this Budget Speculation 23:28 - Oct 18 with 10134 views | JACKMANANDBOY |
The plan seems to be to raise taxes like IHT and Capital Gains and maybe on Non-Doms etc. whilst changing the rules to borrow more.
There a realistic risk here, if the tax income does not increase as planned, the very rich can work their way around these increases, and if growth is slow then the cost of borrowing increases as bond rates will go up as confidence is lost in the money markets and we will have a slow burn Liz Truss effect.
With all that is happening in the World having some gold makes a lot of sense right now. |  |
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| All this Budget Speculation on 09:16 - Oct 31 with 930 views | onehunglow |
| All this Budget Speculation on 09:08 - Oct 31 by Boundy |
I think any increase in Employers National Insurance contributions , Insurance etc will be , eventually passed onto the consumer, small businesses will have to reduce costs by either reducing the amount they employ or raising what they charge , increasing inflation . That's a socialist government for you. |
Who exactly are Tory people .
This is. Case of Labour being able to announce anything at all and it will be welcomed no matter what .
Class war .
Hate it |  |
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| All this Budget Speculation on 09:31 - Oct 31 with 909 views | Boundy |
| All this Budget Speculation on 09:16 - Oct 31 by onehunglow |
Who exactly are Tory people .
This is. Case of Labour being able to announce anything at all and it will be welcomed no matter what .
Class war .
Hate it |
I see Labour have put another round in the rifle aimed at farmers where farms worth more than a million will be exempt from the increase in inheritance tax making it financially unrealistic "a policy specifically designed to protect family-run farms by reducing the tax burden on them so they do not have to sell their main income source to pay the bill" . Farmers are the mainstay of our well being and yet along with planting trees in Uganda of making farmers turn over 20% of arable land to growing more trees seems to me a concerted effort to rid the country of the farming industry. | |
| "In a free society, the State is the servant of the people—not the master." |
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| All this Budget Speculation on 09:44 - Oct 31 with 891 views | Joesus_Of_Narbereth |
| All this Budget Speculation on 08:58 - Oct 31 by felixstowe_jack |
I see Reeves has done a U turn. She has admitted her £30 billion tax hike on business will result in job losses and lower pay rises for working people. |
Not to mention the hundreds of thousands of unskilled people being ferried into the country daily. |  |
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| All this Budget Speculation on 17:00 - Oct 31 with 784 views | felixstowe_jack |
| All this Budget Speculation on 09:16 - Oct 31 by onehunglow |
Who exactly are Tory people .
This is. Case of Labour being able to announce anything at all and it will be welcomed no matter what .
Class war .
Hate it |
Correct Starmer would like to say working class but he can't so he defines them as Working people which means all 35 million people who pay income tax and NI. | |
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| All this Budget Speculation on 17:09 - Oct 31 with 783 views | AnotherJohn |
Bond yields creeping up this afternoon. Let us hope this doesn't get too serious. | | | |
| All this Budget Speculation on 17:27 - Oct 31 with 779 views | JACKMANANDBOY |
| All this Budget Speculation on 17:09 - Oct 31 by AnotherJohn |
Bond yields creeping up this afternoon. Let us hope this doesn't get too serious. |
The more you borrow relative to your income, the more you get charged. So some increase expected, hopefully built into the plans. The problem is if the anticipated benefits do not materialise, the the markets will continue to creep up over the next couple of years | |
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| All this Budget Speculation on 17:53 - Oct 31 with 759 views | majorraglan |
| All this Budget Speculation on 09:31 - Oct 31 by Boundy |
I see Labour have put another round in the rifle aimed at farmers where farms worth more than a million will be exempt from the increase in inheritance tax making it financially unrealistic "a policy specifically designed to protect family-run farms by reducing the tax burden on them so they do not have to sell their main income source to pay the bill" . Farmers are the mainstay of our well being and yet along with planting trees in Uganda of making farmers turn over 20% of arable land to growing more trees seems to me a concerted effort to rid the country of the farming industry. |
It’s not quite that straight forward, over and above the farmers who are by and large genuine people trying to make a living the very wealthy have been buying up huge amounts of land as part of a tax avoidance strategies to offset tax liabilities. The change has been introduced to close a loophole, the consort is good but maybe it should be refined to prevent genuine farmers getting caught up. | | | |
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| All this Budget Speculation on 19:02 - Oct 31 with 697 views | JACKMANANDBOY |
| All this Budget Speculation on 17:53 - Oct 31 by majorraglan |
It’s not quite that straight forward, over and above the farmers who are by and large genuine people trying to make a living the very wealthy have been buying up huge amounts of land as part of a tax avoidance strategies to offset tax liabilities. The change has been introduced to close a loophole, the consort is good but maybe it should be refined to prevent genuine farmers getting caught up. |
The law was written as it was to allow for continuation of food production. If people are abusing that then they need to be taken to task not the whole population of farmers.
Same with private schools some are faith schools or have a send speciality and charge fees as low as £5,000 a year | |
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| All this Budget Speculation on 20:49 - Oct 31 with 658 views | onehunglow |
Nice dissection of the budget by Martin Lewis
Basically ,if you are thrifty all your life,plan for retirement then you are fair game
Save for your future
Yeah | |
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| All this Budget Speculation on 01:47 - Nov 1 with 602 views | Robbie |
Seems another mini budget due in the Spring next year .
Got out of this one it seems without much of a hit gladly others have not I know .
But the question on Rachels speech will be , we promised not to increase income tax on our original manifesto pledge and got voted in on that statement .
However this not new rise in taxation was a sleight of hand trick played by Rach to do another U turn albiet through this second budget .
Come next Spring concerns will surface agian regarding her planning .
Liz Truss and Kwasai Kwarteng are a hard act to beat though .
Politicians , got to love them . | | | |
| All this Budget Speculation on 07:12 - Nov 1 with 576 views | AnotherJohn |
| All this Budget Speculation on 01:47 - Nov 1 by Robbie |
Seems another mini budget due in the Spring next year .
Got out of this one it seems without much of a hit gladly others have not I know .
But the question on Rachels speech will be , we promised not to increase income tax on our original manifesto pledge and got voted in on that statement .
However this not new rise in taxation was a sleight of hand trick played by Rach to do another U turn albiet through this second budget .
Come next Spring concerns will surface agian regarding her planning .
Liz Truss and Kwasai Kwarteng are a hard act to beat though .
Politicians , got to love them . |
The IFS says the government will need to increase taxes by another £9 billion p.a. in two years time to deal with existing budgetary plans to reduce departmental allocations - or in other words to avoid renewed austerity in some areas. Commentators are saying that cutbacks in services then would be hard for Labour to allow, so that further tax increases are the most likely outcome. | | | |
| All this Budget Speculation on 07:55 - Nov 1 with 564 views | majorraglan |
We’ve just had a budget that didn’t increase the bulk of the taxes the mainstream media scare mongered that it would. The next 2 years may be better than predicted, who knows. Why don’t people take a chill pill for a while and see how things start to pan out.
Hopefully we’ll see some decent growth and things will improve significantly for the better. Our new government have a considerable amount of damage to make good and the continuing impact of Brexit which has had a much bigger adverse impact than many of us thought it would. I’m not suggesting for 1 minute that we should reverse Brexit because it was the will of the people that we leave, but we have to acknowledge the detrimental impact has been much bigger than many thought it would be because of the poor way it was executed. | | | |
| All this Budget Speculation on 08:05 - Nov 1 with 545 views | felixstowe_jack |
| All this Budget Speculation on 07:55 - Nov 1 by majorraglan |
We’ve just had a budget that didn’t increase the bulk of the taxes the mainstream media scare mongered that it would. The next 2 years may be better than predicted, who knows. Why don’t people take a chill pill for a while and see how things start to pan out.
Hopefully we’ll see some decent growth and things will improve significantly for the better. Our new government have a considerable amount of damage to make good and the continuing impact of Brexit which has had a much bigger adverse impact than many of us thought it would. I’m not suggesting for 1 minute that we should reverse Brexit because it was the will of the people that we leave, but we have to acknowledge the detrimental impact has been much bigger than many thought it would be because of the poor way it was executed. |
A £30 billion hit on business will lead to less growth not more growth. | |
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| All this Budget Speculation on 08:36 - Nov 1 with 533 views | Boundy |
| All this Budget Speculation on 17:53 - Oct 31 by majorraglan |
It’s not quite that straight forward, over and above the farmers who are by and large genuine people trying to make a living the very wealthy have been buying up huge amounts of land as part of a tax avoidance strategies to offset tax liabilities. The change has been introduced to close a loophole, the consort is good but maybe it should be refined to prevent genuine farmers getting caught up. |
You could say that of every sector , greedy people exist everywhen but why carry out a blanket target approach. I'm not sure introducing this will help anyone let alone already hard pressed small to medium sized farms . | |
| "In a free society, the State is the servant of the people—not the master." |
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| All this Budget Speculation on 08:40 - Nov 1 with 529 views | onehunglow |
Pensioners paying for cheaper beer | |
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| All this Budget Speculation on 09:08 - Nov 1 with 517 views | Scotia |
| All this Budget Speculation on 07:55 - Nov 1 by majorraglan |
We’ve just had a budget that didn’t increase the bulk of the taxes the mainstream media scare mongered that it would. The next 2 years may be better than predicted, who knows. Why don’t people take a chill pill for a while and see how things start to pan out.
Hopefully we’ll see some decent growth and things will improve significantly for the better. Our new government have a considerable amount of damage to make good and the continuing impact of Brexit which has had a much bigger adverse impact than many of us thought it would. I’m not suggesting for 1 minute that we should reverse Brexit because it was the will of the people that we leave, but we have to acknowledge the detrimental impact has been much bigger than many thought it would be because of the poor way it was executed. |
Yep. Brexit on the whole may be manageable. Leaving with a crap deal, or looking at one stage like it would be no deal is hugely detrimental. The biggest legacy and economic improvement this government could deliver is improving on our current deal and relationship with the EU. That's not hard.
The £22 billion black hole, £9.5 billion black hole or whatever it actually may be is totally immaterial. Public services, across the board are in a shocking state and need massive investment even £22 billion won't scratch the surface. We have to pay for it, we've paid too much already and are continuing to pay too much but most of that is to make up for the ineptitude of the last 14 years.
One thing this budget has demonstrated is how much most of the media want this government to fail.
I don't really care who governs as long as they are competent, the last lot weren't this lot might be. Let's see where we are in 2029 | | | |
| All this Budget Speculation on 09:58 - Nov 1 with 490 views | controversial_jack |
| All this Budget Speculation on 09:08 - Nov 1 by Scotia |
Yep. Brexit on the whole may be manageable. Leaving with a crap deal, or looking at one stage like it would be no deal is hugely detrimental. The biggest legacy and economic improvement this government could deliver is improving on our current deal and relationship with the EU. That's not hard.
The £22 billion black hole, £9.5 billion black hole or whatever it actually may be is totally immaterial. Public services, across the board are in a shocking state and need massive investment even £22 billion won't scratch the surface. We have to pay for it, we've paid too much already and are continuing to pay too much but most of that is to make up for the ineptitude of the last 14 years.
One thing this budget has demonstrated is how much most of the media want this government to fail.
I don't really care who governs as long as they are competent, the last lot weren't this lot might be. Let's see where we are in 2029 |
We are paying for past failures of the last govt. Liz Truss, failed PPE, test and trace, the list goes on. | | | |
| All this Budget Speculation on 10:11 - Nov 1 with 487 views | AnotherJohn |
| All this Budget Speculation on 09:08 - Nov 1 by Scotia |
Yep. Brexit on the whole may be manageable. Leaving with a crap deal, or looking at one stage like it would be no deal is hugely detrimental. The biggest legacy and economic improvement this government could deliver is improving on our current deal and relationship with the EU. That's not hard.
The £22 billion black hole, £9.5 billion black hole or whatever it actually may be is totally immaterial. Public services, across the board are in a shocking state and need massive investment even £22 billion won't scratch the surface. We have to pay for it, we've paid too much already and are continuing to pay too much but most of that is to make up for the ineptitude of the last 14 years.
One thing this budget has demonstrated is how much most of the media want this government to fail.
I don't really care who governs as long as they are competent, the last lot weren't this lot might be. Let's see where we are in 2029 |
I think what upsets many people is the contrast between what was said before and then after the election - which is why the "black hole" is mentioned so much. Some of us posted our opinion that any new government would have to choose between service cuts or higher taxation/borrowing. Labour repeatedly said they would not need to resort to either, and that growth would get us out of the hole. Presumably some believed that, and that is why the projections from the OBR and IFS are so concerning. I guess what I'm hoping for is that the 2 year "sugar rush" will defer the pain and that somehow things will turn in our favour before the negatives kick in. | | | |
| All this Budget Speculation on 10:49 - Nov 1 with 476 views | Scotia |
| All this Budget Speculation on 10:11 - Nov 1 by AnotherJohn |
I think what upsets many people is the contrast between what was said before and then after the election - which is why the "black hole" is mentioned so much. Some of us posted our opinion that any new government would have to choose between service cuts or higher taxation/borrowing. Labour repeatedly said they would not need to resort to either, and that growth would get us out of the hole. Presumably some believed that, and that is why the projections from the OBR and IFS are so concerning. I guess what I'm hoping for is that the 2 year "sugar rush" will defer the pain and that somehow things will turn in our favour before the negatives kick in. |
Tax rises were inevitable. Labour's problem was their stupid "working people" pledge, it was an attempt to win voters but it has been borne out when direct tax is considered.
The most cynical electioneering regarding tax though was the Tories Ni contribution cuts, an attempt to buy voters that the country couldn't afford and they would never have to fund.
The OBR and IFS forecasts are based over the mid term of 2 to 5 years, many things could happen to the economy in that time. Including 4 further budgets and potentially several spending reviews. Things will change and every forecast is wrong but some are more wong than others.
It was a decent budget, there are winners and losers. Most of the losers can afford it.
What struck me in the IFS report was this paragraph:-
"It does bear repeating that the fiscal inheritance is truly dire. The spending plans inherited from the last government were never likely to survive contact with a Spending Review. Tax rises were always a near-inevitability. The new government’s embrace of fiscal reality is commendable – and would have been even more so had it occurred during the election campaign, and not only after the fact."
The current dreadful economic state of the country lies full square at the door of the Conservative party. | | | |
| All this Budget Speculation on 11:16 - Nov 1 with 462 views | JACKMANANDBOY |
I' m not optimistic about this government and I did not support the last lot either, as the IFS said "playing the same silly games".
That is, of course, playing the same silly games with our lives | |
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| All this Budget Speculation on 11:41 - Nov 1 with 457 views | onehunglow |
| All this Budget Speculation on 10:49 - Nov 1 by Scotia |
Tax rises were inevitable. Labour's problem was their stupid "working people" pledge, it was an attempt to win voters but it has been borne out when direct tax is considered.
The most cynical electioneering regarding tax though was the Tories Ni contribution cuts, an attempt to buy voters that the country couldn't afford and they would never have to fund.
The OBR and IFS forecasts are based over the mid term of 2 to 5 years, many things could happen to the economy in that time. Including 4 further budgets and potentially several spending reviews. Things will change and every forecast is wrong but some are more wong than others.
It was a decent budget, there are winners and losers. Most of the losers can afford it.
What struck me in the IFS report was this paragraph:-
"It does bear repeating that the fiscal inheritance is truly dire. The spending plans inherited from the last government were never likely to survive contact with a Spending Review. Tax rises were always a near-inevitability. The new government’s embrace of fiscal reality is commendable – and would have been even more so had it occurred during the election campaign, and not only after the fact."
The current dreadful economic state of the country lies full square at the door of the Conservative party. |
GPS will feel the effect of increased NI vis a vis staff
Many will lose their jobs
Farmers are very very worried
Meanwhile, we have another gutless gift unwilling to truly make the better off pay and to make us a fairer society .
Many small businesses will fall
House purchasers hammered .
Yeah baby | |
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| All this Budget Speculation on 12:36 - Nov 1 with 428 views | controversial_jack |
| All this Budget Speculation on 11:41 - Nov 1 by onehunglow |
GPS will feel the effect of increased NI vis a vis staff
Many will lose their jobs
Farmers are very very worried
Meanwhile, we have another gutless gift unwilling to truly make the better off pay and to make us a fairer society .
Many small businesses will fall
House purchasers hammered .
Yeah baby |
The same old story as when the minimum wage was introduced. Scare stories from the Tories and the media. Jobs will be lost - they weren't. You never learn do you? | | | |
| All this Budget Speculation on 12:55 - Nov 1 with 417 views | felixstowe_jack |
| All this Budget Speculation on 12:36 - Nov 1 by controversial_jack |
The same old story as when the minimum wage was introduced. Scare stories from the Tories and the media. Jobs will be lost - they weren't. You never learn do you? |
The conservatives have never said increasing the minimum wage would lead to jobs being lost. Which is why the minimum wage increased by above the inflation rate virtually every year in the last 14 years.
What the conservatives and other experts have always said is that excessive taxes on business will lead to increases in prices, lower business investments and fewer jobs.
We have already heard from care home providers that the NI increase their wage bill and even more care homes will become unprofitable and will lead to closures, job losses and extra burdens on councils and the NHS.
You keep posting rubbish do you never learn.
Interesting that Labour lost a bi-election in Wolverhampton yesterday, a day after the buget, with a huge swing to reform. Their honeymoon period is well and truely over. | |
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| All this Budget Speculation on 14:11 - Nov 1 with 392 views | controversial_jack |
| All this Budget Speculation on 12:55 - Nov 1 by felixstowe_jack |
The conservatives have never said increasing the minimum wage would lead to jobs being lost. Which is why the minimum wage increased by above the inflation rate virtually every year in the last 14 years.
What the conservatives and other experts have always said is that excessive taxes on business will lead to increases in prices, lower business investments and fewer jobs.
We have already heard from care home providers that the NI increase their wage bill and even more care homes will become unprofitable and will lead to closures, job losses and extra burdens on councils and the NHS.
You keep posting rubbish do you never learn.
Interesting that Labour lost a bi-election in Wolverhampton yesterday, a day after the buget, with a huge swing to reform. Their honeymoon period is well and truely over. |
Yes they did! You have a selective memory.
Services have to be paid for. I would rather Employees cover that than those on low wages.
The budgets will never suit anyone and so they shouldn't
Reform, the working persons party that recently voted against more workers rights? | | | |
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