Budget 2024

[Badger11]

A thread to share your views.

The first thing I spotted is this. Lots of other complains but to start with:

Including pensions in IHT is a tax on the private sector.

Like most in the private sector I have a pension pot which is now liable for IHT when I die. However all those civil servants, teachers MPs and other public servants get a guaranteed annuity instead of a pot. So not only do they have better pensions than us but when they die this is not an issue for them.

Nice one Angela.

Oops its Rachel, Christ politicians are so anonymous these days.

 

[orpingtoneagle]

Unless she remarries or co-habits with another partner after you, when she will also lose any right to it.

Yup I was going to add that but did not want to over complicate it.

I know that people do probably quite rightly see public sector pensions as gold plated but back on the day most pensions were final salary. It should not be a race to the bottom.

I would also add that personally one of ye things that stopped me moving to the private sector (on plenty more money,) was building up a good pension and now I am a couple of years from getting it I am glad it is there

 

[Stirlingsays]

Yup I was going to add that but did not want to over complicate it.

I know that people do probably quite rightly see public sector pensions as gold plated but back on the day most pensions were final salary. It should not be a race to the bottom.

I would also add that personally one of ye things that stopped me moving to the private sector (on plenty more money,) was building up a good pension and now I am a couple of years from getting it I am glad it is there

Anyone who supported lockdowns supported a race to the bottom.

What we have is essentially a government implementing Scandinavian style tax and spending policies without the natural resources that the Scandinavian countries have to afford it.

I predict that within two years we will be going into a version of the seventies under Labour. I'm happy for your pension but I wouldn't view the worth of any public sector payment as set in stone.

 

[orpingtoneagle]

Anyone who supported lockdowns supported a race to the bottom.

What we have is essentially a government implementing Scandinavian style tax and spending policies without the natural resources that the Scandinavian countries have to afford it.

I predict that within two years we will be going into a version of the seventies under Labour. I'm happy for your pension but I wouldn't view the worth of any public sector payment as set in stone.

I was talking about Pensions not making a wider point.

Personally if (ok big if...) any of this leads to a better NHS with genuine reform I am happy to see tax rises to pay for it.

 

[Dogburger]

Buy 650 pints and get one free . What genius thought of that one up ?

All seems a bit random to me along with taxing without thinking of the consequences . Raising tax doesn't mean you will take in more tax , in fact it could mean you end up taking in less.

I always look at the markets after budget's to see how they react and they haven't really moved a lot one way or the other so it looks like a wait and see . The problem labour have now though is that they have little room for further taxation if their fiscal policies don't work out . Lets hope they have got it right

 

[Rudi Hedman]

I was talking about Pensions not making a wider point.

Personally if (ok big if...) any of this leads to a better NHS with genuine reform I am happy to see tax rises to pay for it.

I agree with your wishes. The problem is the effects of their decisions.

The change in the NI threshold so employers now start paying National Insurance at £5,000 not £9,100 is big. For the employers who pay it, at the new 15% rate that alone is a £900 increase per average worker.

The question is where will that money come from. Profits, increasing charges or reducing salaries/benefits or number of employees?

 

[Rudi Hedman]

Buy 650 pints and get one free . What genius thought of that one up ?

All seems a bit random to me along with taxing without thinking of the consequences . Raising tax doesn't mean you will take in more tax , in fact it could mean you end up taking in less.

I always look at the markets after budget's to see how they react and they haven't really moved a lot one way or the other so it looks like a wait and see . The problem labour have now though is that they have little room for further taxation if their fiscal policies don't work out . Lets hope they have got it right

I’m up for the challenge. It’s not worth living too long anyway.

 

[Stirlingsays]

I was talking about Pensions not making a wider point.

Personally if (ok big if...) any of this leads to a better NHS with genuine reform I am happy to see tax rises to pay for it.

I know, however you spoke about not wanting a race to the bottom and then spoke about looking forward to your pension.....Well, I made the point that economically those lockdowns will end up effecting both....just how much we will find out.

As for your thoughts on the NHS....seriously man, they have increased the population by ten million in twenty years, you think tax rises are going to pay for that....you realise immigrants get older too?

The whole system has being royally fecked in the backside....and it's by no means just the fault of Labour (though they supported everything that fecked it)..... but let's just hope that you're alright eh.

 

[orpingtoneagle]

I agree with your wishes. The problem is the effects of their decisions.

The change in the NI threshold so employers now start paying National Insurance at £5,000 not £9,100 is big. For the employers who pay it, at the new 15% rate that alone is a £900 increase per average worker.

The question is where will that money come from. Profits, increasing charges or reducing salaries/benefits or number of employees?

You forget one other source.....dividends.

 

[Stirlingsays]

I agree with your wishes. The problem is the effects of their decisions.

The change in the NI threshold so employers now start paying National Insurance at £5,000 not £9,100 is big. For the employers who pay it, at the new 15% rate that alone is a £900 increase per average worker.

The question is where will that money come from. Profits, increasing charges or reducing salaries/benefits or number of employees?

It's is anti investment economics but it'll at least be interesting seeing how it affects things......How much it affects large outside employer investment.

 

[becky]

I agree with your wishes. The problem is the effects of their decisions.

The change in the NI threshold so employers now start paying National Insurance at £5,000 not £9,100 is big. For the employers who pay it, at the new 15% rate that alone is a £900 increase per average worker.

The question is where will that money come from. Profits, increasing charges or reducing salaries/benefits or number of employees?

Just seen an interview with our MP who pointed out that Somerset has an incredibly high number of micro employers who will be hit very hard by this - profits are marginal, increasing prices makes them uncompetitive and without the minimum staff they cannot maintain production. Looks like a good few may be going to the wall.

 

[Stirlingsays]

The surgeon I saw when I had my shoulder sorted told me that the biggest problem the NHS faced was the sheer number of experienced staff who would be leaving over the next ten years.

 

[Rudi Hedman]

I know, however you spoke about not wanting a race to the bottom and then spoke about looking forward to your pension.....Well, I made the point that economically those lockdowns will end up effecting both....just how much we will find out.

As for your thoughts on the NHS....seriously man, they have increased the population by ten million in twenty years, you think tax rises are going to pay for that....you realise immigrants get older too?

The whole system has being royally fecked in the backside....and it's by no means just the fault of Labour (though they supported everything that fecked it)..... but let's just hope that you're alright eh.

I’m glad someone’s mentioned this because it’s reminded me. Something is going wrong if we’ve been importing people for economic reasons and it isn’t going to support itself. The population ageing more and more doesn’t help this, but still… I suppose the other thing you can look at is the amount of people not working or economically inactive. That is going to change at some point as older people will have to work without savings etc, as long as there are jobs and companies hiring over 50’s and into mid 60’s. The other thing pulling at this is the advances in medical technology and the ever growing number of medical procedures. But that’s another difficult subject.

 

[Stirlingsays]

I’m glad someone’s mentioned this because it’s reminded me. Something is going wrong if we’ve been importing people for economic reasons and it isn’t going to support itself. The population ageing more and more doesn’t help this, but still… I suppose the other thing you can look at is the amount of people not working or economically inactive. That is going to change at some point as older people will have to work without savings etc, as long as there are jobs and companies hiring over 50’s and into mid 60’s. The other thing pulling at this is the advances in medical technology and the ever growing number of medical procedures. But that’s another difficult subject.

Yep, Career short term politicians, trusting partially ignorant populations.

We are fecked.....I don't get angry about it anymore, it's a dark comedy that we have to live.

 

[cryrst]

Yep, Career short term politicians, trusting partially ignorant populations.

We are fecked.....I don't get angry about it anymore, it's a dark comedy that we have to live.

And living healthier to live longer under these nanny state rules.
Don’t see the point so going for another fag and a 🍺

 

[Rudi Hedman]

Anyone who supported lockdowns supported a race to the bottom.

What we have is essentially a government implementing Scandinavian style tax and spending policies without the natural resources that the Scandinavian countries have to afford it.

I predict that within two years we will be going into a version of the seventies under Labour. I'm happy for your pension but I wouldn't view the worth of any public sector payment as set in stone.

I’m sure people have either forgotten Covid or the costs and implications of the furlough etc, if they ever understood or cared. Remember that rationing continued until 1952 and the good times didn’t really arrive until the ‘60s. It it was a chance to virtue signal and appear morally superior, a popular modern day pastime.

 

[Rudi Hedman]

And living healthier to live longer under these nanny state rules.
Don’t see the point so going for another fag and a 🍺

I predict the 24/7 gym trend and business will suffer one day. People will think ‘fvck it, why bother?’

 

[beak]

Buy 650 pints and get one free . What genius thought of that one up ?

All seems a bit random to me along with taxing without thinking of the consequences . Raising tax doesn't mean you will take in more tax , in fact it could mean you end up taking in less.

I always look at the markets after budget's to see how they react and they haven't really moved a lot one way or the other so it looks like a wait and see . The problem labour have now though is that they have little room for further taxation if their fiscal policies don't work out . Lets hope they have got it right

Free beer always tastes better. 😊

 

[orpingtoneagle]

I’m sure people have either forgotten Covid or the costs and implications of the furlough etc, if they ever understood or cared. Remember that rationing continued until 1952 and the good times didn’t really arrive until the ‘60s. It it was a chance to virtue signal and appear morally superior, a popular modern day pastime.

This is actually what bugs me about the £2 to £3 increase in bus fare cap.

This is actually a huge subsidy and a lot of folks do not actually accept that fact. It has done nothing to save or reinstate rural bus routes at all.

Indeed on the radio this morning someone who lived in South Croydon was huffing and puffing a out how it would increase their travel costs until the presenter pointed out in London the hopper cap is £1.75.

The elderly and disabled who this will 'hit the hardest' qualify for free travel.and it does not do what is needed, to create a better travel infrastructure.

 

[georgenorman]

Well at least we can rest assured that the record levels of tax that we pay will be spent wisely, with great prudence and effectiveness on things essential to our well-being.