| All this Budget Speculation 23:28 - Oct 18 with 13288 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 13:24 - Jan 7 with 1375 views | controversial_jack |
They said that when the minimum wage was introduced, it didn't happen |  | | |
| All this Budget Speculation on 16:44 - Jan 7 with 1301 views | Boundy |
| All this Budget Speculation on 13:24 - Jan 7 by controversial_jack |
They said that when the minimum wage was introduced, it didn't happen |
Not quite the same is it. | |
| "In a free society, the State is the servant of the people—not the master." |
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| All this Budget Speculation on 23:37 - Jan 7 with 1229 views | majorraglan |
And then we have Next. There’s an article on the BBC about Next raising prices to offset “an unusually high" £73m increase in staff wages and taxes and then proceeding to explain the increases are as a result of changes announced in last years budget.
Anyone with the curiosity or patience to finish reading the article will learn that "Next expects profits to rise by 3.6% to more than £1bn next year."
Are we being taken for a ride by some?
https://www.bbc.co.uk/news/articles/cgkxlnlne0po | | | |
| All this Budget Speculation on 00:50 - Jan 8 with 1209 views | JACKMANANDBOY |
| All this Budget Speculation on 23:37 - Jan 7 by majorraglan |
And then we have Next. There’s an article on the BBC about Next raising prices to offset “an unusually high" £73m increase in staff wages and taxes and then proceeding to explain the increases are as a result of changes announced in last years budget.
Anyone with the curiosity or patience to finish reading the article will learn that "Next expects profits to rise by 3.6% to more than £1bn next year."
Are we being taken for a ride by some?
https://www.bbc.co.uk/news/articles/cgkxlnlne0po |
They will pay £250M in Corporation Tax if they make the numbers. They could make £750 Million net profit on £6 or £7 Billion turnover but that depends on how the economy goes. Profit could be much less and they will need to reinvest some of the £750M.
I would not like to.be in Retail.
They could swallow the NI increase but if they think can operate by increasing prices there's nothing stopping them.
There's no monopoly or obligation here to buy their goods, if people are happy to buy their goods at a given price then that's up to their customers. [Post edited 8 Jan 0:57]
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| All this Budget Speculation on 07:30 - Jan 8 with 1151 views | AnotherJohn |
The yield on UK 30-year gilts went up by four basis points yesterday to 5.22%, exceeding the spike after the Liz Truss fiasco. It is a bit of a mystery why there isn't more of a furore about this, as we are now moving into very dangerous territory. This is because the extra cost of servicing the national debt is now swallowing up the extra money that Rachel Reeves planned to borrow to fund her growth plans. If the extra cost of new borrowing is added to the extra cost of servicing the debt, then Reeves will break her new fiscal rules. The difficult choice she is now facing is between (a) doing that, which would be likely to spook the international markets, (b) raising taxes, or (c) cutting public spending. The big risk is stagflation. If people argue that Truss crashed the economy, I wonder what they think about this?
Edit
Getting worse. Gilt yields up to 5.38% today and pound at lowest rate against US$ for 9 months. [Post edited 8 Jan 15:22]
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| All this Budget Speculation on 16:11 - Jan 8 with 1053 views | SullutaCreturned |
| All this Budget Speculation on 07:30 - Jan 8 by AnotherJohn |
The yield on UK 30-year gilts went up by four basis points yesterday to 5.22%, exceeding the spike after the Liz Truss fiasco. It is a bit of a mystery why there isn't more of a furore about this, as we are now moving into very dangerous territory. This is because the extra cost of servicing the national debt is now swallowing up the extra money that Rachel Reeves planned to borrow to fund her growth plans. If the extra cost of new borrowing is added to the extra cost of servicing the debt, then Reeves will break her new fiscal rules. The difficult choice she is now facing is between (a) doing that, which would be likely to spook the international markets, (b) raising taxes, or (c) cutting public spending. The big risk is stagflation. If people argue that Truss crashed the economy, I wonder what they think about this?
Edit
Getting worse. Gilt yields up to 5.38% today and pound at lowest rate against US$ for 9 months. [Post edited 8 Jan 15:22]
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The scales have well and truly tilted in the wrong direction, Question is will Reeves sit tight and hope things improve or will they take "emergency" measures to try and rebalance the scales. | | | |
| All this Budget Speculation on 16:25 - Jan 8 with 1043 views | AnotherJohn |
Indeed. Back in 2022 the emergency action was to get rid of Truss and Kwarteng and bring in Sunak and Hunt, which by October 25th resulted in the 30 year gilt yield falling to 3.68%
https://www.ft.com/content/a5758ce9-f8f3-4013-aa97-81ff3db3eaf2
I'm not sure what Starmer and Reeves can do in the present situation. | | | |
| All this Budget Speculation on 16:46 - Jan 8 with 1027 views | Joesus_Of_Narbereth |
| All this Budget Speculation on 16:25 - Jan 8 by AnotherJohn |
Indeed. Back in 2022 the emergency action was to get rid of Truss and Kwarteng and bring in Sunak and Hunt, which by October 25th resulted in the 30 year gilt yield falling to 3.68%
https://www.ft.com/content/a5758ce9-f8f3-4013-aa97-81ff3db3eaf2
I'm not sure what Starmer and Reeves can do in the present situation. |
To quote Blackadder their resignation and suicide might raise morale a bit. Make a note of it Darling. |  |
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| All this Budget Speculation on 18:44 - Jan 8 with 976 views | JACKMANANDBOY |
| All this Budget Speculation on 16:11 - Jan 8 by SullutaCreturned |
The scales have well and truly tilted in the wrong direction, Question is will Reeves sit tight and hope things improve or will they take "emergency" measures to try and rebalance the scales. |
I can't see anything but poor economic performance for the first three months of this year as the budget effects come through. Today's bond sale did not go well, I expect that Reeves will end up having to take some sort of action. [Post edited 8 Jan 22:39]
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| All this Budget Speculation on 21:07 - Jan 8 with 919 views | SullutaCreturned |
| All this Budget Speculation on 16:46 - Jan 8 by Joesus_Of_Narbereth |
To quote Blackadder their resignation and suicide might raise morale a bit. Make a note of it Darling. |
No need to resign, cut out the middle man, I'm all for government efficiency savings. | | | |
| All this Budget Speculation on 08:52 - Jan 13 with 673 views | AnotherJohn |
30 year gilt yields have just hit 5.528, translating to the highest interest rate on government borrowing since 1998. Some of this is related to a global rise in bond yields influenced by events in the USA, but our current government must also accept a share of the blame. People with mortgages who are not in a fixed rate deal or have a deal that is about to end could find themselves in a pickle. | | | |
| All this Budget Speculation on 12:12 - Jan 13 with 625 views | raynor94 |
All this financial bad news has left Reeves looking ill, I think she has bitten off more than she can chew with the Chancellor post, it's been a nightmare for her |  |
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| All this Budget Speculation on 12:14 - Jan 13 with 623 views | onehunglow |
| All this Budget Speculation on 12:12 - Jan 13 by raynor94 |
All this financial bad news has left Reeves looking ill, I think she has bitten off more than she can chew with the Chancellor post, it's been a nightmare for her |
Agreed.
She looks shocking
Her family must be concerned
She won’t laxt the year | |
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| All this Budget Speculation on 19:41 - Jan 13 with 537 views | Whiterockin |
If Starmer keeps her he won't see the year out. |  | | |
| All this Budget Speculation on 00:18 - Jan 14 with 474 views | Robbie |
Starmer trying his best to keep a positive vibe on his speeches earlier , journalists and press were asking some leadinq questions on the UK finances but like a good Politician avoided straight answers , veering in towards the greatness of AI and the benefits it brings .
Our lost cause Rach is in China with the begging bowl , trade off will be their help in our IT systems , good call , less public sectors workers and admin needed with their new dream .
Win / win for all parties I doubt .
If she goes take Ange with her as well , a so called Labour activist from a Council House Estate ready to reap the rewards of second home ownership . | | | |
| All this Budget Speculation on 08:52 - Jan 15 with 354 views | majorraglan |
A modicum of good news - Inflation is down - albeit by 0.1%. Now the economists are talking about an interest rate cut in February.
That said, with many commodities priced in dollars we could see increase pressure from fuel costs. | | | |
| All this Budget Speculation on 15:41 - Jan 15 with 301 views | SullutaCreturned |
| All this Budget Speculation on 00:18 - Jan 14 by Robbie |
Starmer trying his best to keep a positive vibe on his speeches earlier , journalists and press were asking some leadinq questions on the UK finances but like a good Politician avoided straight answers , veering in towards the greatness of AI and the benefits it brings .
Our lost cause Rach is in China with the begging bowl , trade off will be their help in our IT systems , good call , less public sectors workers and admin needed with their new dream .
Win / win for all parties I doubt .
If she goes take Ange with her as well , a so called Labour activist from a Council House Estate ready to reap the rewards of second home ownership . |
This AI revolution, not sure I'm keen I foresee plenty of problems which we are already seeing anyway so, less foresight and more, we know this shit will happen! | | | |
| All this Budget Speculation on 20:42 - Jan 15 with 250 views | Dr_Winston |
Ultimately, most of this has its roots in the response to Covid.
The Goverment of the day committed Billions upon Billions of pounds to force people who had a 99.9% likelihood of nothing but a sniffle from the virus to stay at home. The economy ground to a halt. Government spending, debts and deficits spiralled for no real reason. Labour can claim no high ground because everything the Govt did, Labour wanted to do harder and for longer.
The Treasury printing more money to try and offset some of this led to the cost of living crisis as inflation spiralled. Goverment services are vastly more inefficient than they were in 2019 as tens, maybe hundreds of thousands of civil servants still sit at home watching Loose Women for 2/3 days a week.
The explosion in mental illnesses caused by people being cooped up indoors with nothing but their own thoughts for company has added Billions to the Welfare bill.
We need a huge reset. All state workers need to be ordered back to the office full time. People need to be at first encouraged, then if necessary forced to take steps towards coming off sickness benefits. Businesses need to be actively supported to take risks and grow. Spending in the economy needs to be encouraged. None of that will happen with the already implemented and likely future tax rises. [Post edited 15 Jan 21:17]
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| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| All this Budget Speculation on 01:03 - Jan 16 with 186 views | Robbie |
Agree people should be encouraged to leave the benefits system and return to work .
But sadly that is a no go area for some people I come across , why should I bother to lose my entitlement by doing a job , all my bills are paid for now , happy days .
Getting the economy growing will be a massive challenge with some of our now cannot be bothered to get out of bed population ethic .
Maybe immigration and domestics want to work and get their hands dirty cleaning toilets and Hospital Wards is the way forward . | | | |
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