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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.
All this Budget Speculation on 15:24 - Oct 30 by raynor94
£40 Billion tax burden the highest ever, and growth forecast to go down.
I sincerely hope she knows what she's doing
Tax take in this country is at an all time high. We are paying twice as much as we were twenty years ago. Yet the government still insists it needs more.
All this Budget Speculation on 15:25 - Oct 30 by majorraglan
Lots of if’s and but’s there. Maybe the budget and strategy will deliver what she wants and costs will go down as revenue increases.
I’m hoping that some of the budget finds its way in to improved infrastructure around the Brynglas tunnels. That could turbo charge growth in Wales. If I was Starmer I’d be telling Eluned Morgan to sort it because it’s things like the Brynhlas tunnels which will make or break investment in South Wales.
Yes, the if is about how well the money is used, the but is costs are already planned to be up and so the return on the investment has to be good enough. Bond yields have ticked up this afternoon indicating the element of risk in the Budget.
As you say the Brynglas tunnels are a good potential investment, but Wales always votes Labour so there's no real incentive for Labour in Westminster to do anything but allow the Senedd to carry on.
Tax take in this country is at an all time high. We are paying twice as much as we were twenty years ago. Yet the government still insists it needs more.
Tax take in this country is at an all time high. We are paying twice as much as we were twenty years ago. Yet the government still insists it needs more.
Tax take in this country is at an all time high. We are paying twice as much as we were twenty years ago. Yet the government still insists it needs more.
An "absolute shitshow" isn't really fair. It's much worse than that.
For years now we have sen taxes rising AND services being cut, where does all the money go? I'm certain the bill for politicians in the UK is far too high. I have long been saying that the more politicians we allow to exist, the worse things get. Just wait til there's another 36 in Cardiff bay.
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All this Budget Speculation on 17:33 - Oct 30 with 432 views
All this Budget Speculation on 17:29 - Oct 30 by Luther27
Highest tax burden since the ‘40s according to media reports. Difference then was we were paying for WW2.
I’m not an economist, money bores me senseless. I have no interest in it. But when the taxpayers are being squeezed for every penny on king John levels and it’s still not enough then there’s surely got to come a point where something has to give?
All this Budget Speculation on 17:30 - Oct 30 by SullutaCreturned
An "absolute shitshow" isn't really fair. It's much worse than that.
For years now we have sen taxes rising AND services being cut, where does all the money go? I'm certain the bill for politicians in the UK is far too high. I have long been saying that the more politicians we allow to exist, the worse things get. Just wait til there's another 36 in Cardiff bay.
Yeah it is absolutely staggering that taxpayers are being expected to fork out an extra £40 billion on top of a record tax take and people are still so blinded by their party loyalty they will still describe it as “a fantastic budget”.
So if I am Mr Average. What taxes will I be paying tonight that I wasn't paying this morning ?
Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
All this Budget Speculation on 17:41 - Oct 30 by builthjack
So if I am Mr Average. What taxes will I be paying tonight that I wasn't paying this morning ?
It's not necessarily about what tax you'll pay. The changes, and I haven't looked closely, may affect prices. Businesses have to pay more NI, they will pass the cost on somewhere.
I'm sure others can find better examples.
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All this Budget Speculation on 18:30 - Oct 30 with 378 views
I’m not an economist, money bores me senseless. I have no interest in it. But when the taxpayers are being squeezed for every penny on king John levels and it’s still not enough then there’s surely got to come a point where something has to give?
Thoroughly agree. We are sleep walking into disaster.
All this Budget Speculation on 17:41 - Oct 30 by builthjack
So if I am Mr Average. What taxes will I be paying tonight that I wasn't paying this morning ?
It's bad news for Mr Average, concerning jobs, increase in employer national insurance contributions, and although the increase in the National minimum wage is good news I can see companies not taking on as many such as hospitality
You give it out, you take it back it`s all part of the game
So after all that I won’t be paying any more tax. Don’t let the Mail and the Tory people frighten you. Scaremongering.
Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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All this Budget Speculation on 19:45 - Oct 30 with 313 views
All this Budget Speculation on 19:34 - Oct 30 by builthjack
So after all that I won’t be paying any more tax. Don’t let the Mail and the Tory people frighten you. Scaremongering.
If it's in tax or in higher prices, smaller wage increases, it still affects us "working people"
Of greater concern is the change in fiscal rules to enable more borrowing, it could cost the UK a lot more in interest payments on our debts, the bond yield has already risen,
All this Budget Speculation on 20:05 - Oct 30 by SullutaCreturned
If it's in tax or in higher prices, smaller wage increases, it still affects us "working people"
Of greater concern is the change in fiscal rules to enable more borrowing, it could cost the UK a lot more in interest payments on our debts, the bond yield has already risen,
Nobody, and I mean nobody, could have done worse over the last 14 years. As I have said many times, it will take 10 years to put it right. 4 months in.
Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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All this Budget Speculation on 23:58 - Oct 30 with 255 views
All this Budget Speculation on 20:27 - Oct 30 by builthjack
Nobody, and I mean nobody, could have done worse over the last 14 years. As I have said many times, it will take 10 years to put it right. 4 months in.
The selective amnesia is amazing isn't it.
It is far better to grasp the universe as it really is than to persist in delusion, however satisfying and reassuring. - Carl Sagan
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All this Budget Speculation on 07:54 - Oct 31 with 201 views
Commentators are slowly processing the implications of the budget. The OBR suggests that the impact will be very little growth and a slight rise in inflation. This must be a huge disappointment to Labour as they hoped the OBR announcement on budget day would help them by confirming the existence of the black hole of about £22 billion. Actually, even that seemed more like £9.5 billion, and the projections for future years were pretty negative. Public spending will go up by over £70 billion a year, which should help improve services, but almost half will be financed by borrowing. One question will be how much of the £40 billion tax increase will affect "working people", and it does look like there will be big indirect effects that will work their way through to jobs and wages. One group who will be hit hard are small businesses, another is family farmers.
[Post edited 31 Oct 7:54]
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All this Budget Speculation on 08:23 - Oct 31 with 191 views
All this Budget Speculation on 07:54 - Oct 31 by AnotherJohn
Commentators are slowly processing the implications of the budget. The OBR suggests that the impact will be very little growth and a slight rise in inflation. This must be a huge disappointment to Labour as they hoped the OBR announcement on budget day would help them by confirming the existence of the black hole of about £22 billion. Actually, even that seemed more like £9.5 billion, and the projections for future years were pretty negative. Public spending will go up by over £70 billion a year, which should help improve services, but almost half will be financed by borrowing. One question will be how much of the £40 billion tax increase will affect "working people", and it does look like there will be big indirect effects that will work their way through to jobs and wages. One group who will be hit hard are small businesses, another is family farmers.
[Post edited 31 Oct 7:54]
The OBR also says the UK will have its highest tax burden since the 1948 budget. That budget was understandable as the the UK had the be rebuilt after the war, fund the emerging NHS and paying of war debts. Even then the British public voted out the government at the next General Election.
All this Budget Speculation on 07:54 - Oct 31 by AnotherJohn
Commentators are slowly processing the implications of the budget. The OBR suggests that the impact will be very little growth and a slight rise in inflation. This must be a huge disappointment to Labour as they hoped the OBR announcement on budget day would help them by confirming the existence of the black hole of about £22 billion. Actually, even that seemed more like £9.5 billion, and the projections for future years were pretty negative. Public spending will go up by over £70 billion a year, which should help improve services, but almost half will be financed by borrowing. One question will be how much of the £40 billion tax increase will affect "working people", and it does look like there will be big indirect effects that will work their way through to jobs and wages. One group who will be hit hard are small businesses, another is family farmers.
[Post edited 31 Oct 7:54]
The Government spends £1200 Billion, Government Department budgets are set with a tolerance of +/- 1 percent, that's £12 Billion. £9 Billion is lost in the rounding. The £22 Billion was a nonsense in that context.
All this Budget Speculation on 08:23 - Oct 31 by JACKMANANDBOY
The Government spends £1200 Billion, Government Department budgets are set with a tolerance of +/- 1 percent, that's £12 Billion. £9 Billion is lost in the rounding. The £22 Billion was a nonsense in that context.
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.
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.
Maybe she’s caught amnesia too “ working people “ Yeah baby Working people
All this Budget Speculation on 19:34 - Oct 30 by builthjack
So after all that I won’t be paying any more tax. Don’t let the Mail and the Tory people frighten you. Scaremongering.
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.
"In a free society, the State is the servant of the people—not the master."
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