| Budget Speculation - Part Deux 2025 20:43 - Sep 19 with 18563 views | JACKMANANDBOY |
This year the talk is about a range of tax rises to areas such as wealth, pensions and savings, fuel duty and property taxes. The clear risk here is that these measures will take money out of the economy as people move money between asset classes and the property market slows. A slow property market has a wide impact on legal services, building companies, DIY, furniture, white goods etc.
We are likely to see a lack of confidence in spending, combined with further pressure on some sectors pushing up prices and unemployment adding to today's problems.
Let's hope Reeves decides to stimulate confidence and get more money moving in the economy, the back benches seem to have won the day on Welfare Reform so I doubt it.
PS Why Part Deux, because the French are in the merde and we are not far behind them.
[Post edited 8 Oct 11:59]
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| Budget Speculation - Part Deux 2025 on 20:31 - Nov 2 with 1679 views | JJBomber |
| Budget Speculation - Part Deux 2025 on 21:53 - Sep 20 by trampie |
Just looked Thatcher cut top rate of income tax for the rich from 83% down to just 40% during her time, basic rate only dropped from 33% to 25%
VAT which is seen as a tax on the less well off nearly doubled during her time from 8% to 15%. |
VAT was reduced to two bands; 0% and 15%. The 8% band was done away with. The overall effect wasn't that great as most things stayed the same, believed to be around an extra 25%, not doubled. |  | | |
| Budget Speculation - Part Deux 2025 on 14:26 - Nov 3 with 1556 views | AnotherJohn |
If the Telegraph is to be believed, the number of luxury cars presently provided under the Motability Scheme is jaw-dropping.
"The latest figures show that there are around 50,000 high-end models from manufacturers such as BMW, Mercedes-Benz and Audi leased out under the scheme.
Numbers have increased dramatically in tandem with a surge in sickness benefits claims, particularly for mental health conditions, following the pandemic."
https://www.msn.com/en-gb/cars/news/minister-backs-banning-luxury-cars-for-benef | | | |
| Budget Speculation - Part Deux 2025 on 14:45 - Nov 3 with 1539 views | JACKMANANDBOY |
| Budget Speculation - Part Deux 2025 on 14:26 - Nov 3 by AnotherJohn |
If the Telegraph is to be believed, the number of luxury cars presently provided under the Motability Scheme is jaw-dropping.
"The latest figures show that there are around 50,000 high-end models from manufacturers such as BMW, Mercedes-Benz and Audi leased out under the scheme.
Numbers have increased dramatically in tandem with a surge in sickness benefits claims, particularly for mental health conditions, following the pandemic."
https://www.msn.com/en-gb/cars/news/minister-backs-banning-luxury-cars-for-benef |
Most commentators seem to think the scheme has gone beyond what was originally planned. The scheme was designed to help people who could not get around because of their disability and to replace the old blue three wheelers with safer vehicles. Now it seems to be so much more than that. | |
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| Budget Speculation - Part Deux 2025 on 12:52 - Nov 4 with 1435 views | raynor94 |
It's no good to keep on blaming the Tories she hasn't recovered from the wfa fiasco.
And massive mistake to allow backbenchers to totally water down the welfare reforms surely she hasn't got long left in office |  |
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| Budget Speculation - Part Deux 2025 on 13:02 - Nov 4 with 1431 views | AnotherJohn |
From this link:
"Ms Reeves is considering a proposal from the Left-wing Resolution Foundation to raise income tax by 2p, in what would be the first increase in the basic rate for 50 years."
Thank our MP for his past work for the Foundation. | | | |
| Budget Speculation - Part Deux 2025 on 16:51 - Nov 4 with 1374 views | Whiterockin |
| Budget Speculation - Part Deux 2025 on 13:02 - Nov 4 by AnotherJohn |
From this link:
"Ms Reeves is considering a proposal from the Left-wing Resolution Foundation to raise income tax by 2p, in what would be the first increase in the basic rate for 50 years."
Thank our MP for his past work for the Foundation. |
We will not increase tax on the working people, so much for election promises. Breaking this core promise of Labour's election manifesto should mean they should stand down. |  | | |
| Budget Speculation - Part Deux 2025 on 21:02 - Nov 4 with 1313 views | majorraglan |
| Budget Speculation - Part Deux 2025 on 16:51 - Nov 4 by Whiterockin |
We will not increase tax on the working people, so much for election promises. Breaking this core promise of Labour's election manifesto should mean they should stand down. |
Plenty of other governments have broken manifesto pledges and not stood down.
There is speculation tax will go up possibly as much as 2p in the pound, but that NI will also come down by a corresponding amount. That should mean the net effect on “workers” whoever they may be is very limited unless they have other income streams such as rent from buy to let properties etc. It’s likely that people who don’t work, but receive an income greater than the personal tax threshold will tax.
The point made earlier about the lack of support from MP’s for welfare reform is valid, that is something which really needs to reformed and this and other governments need to ensure people who are working are better off than those who are living continuously on benefits. We should be in a position where those who can’t work are supported and those who choose not to work because they can’t be asked aren’t.
It’s a bit radical, but what about imposing a tax on benefits received above the taxable allowance? Universal Credit for a single person is £3800pa and double that for a couple - these are nowhere near enough to survive on (and less than the £12.5k personal allowance) but they are invariably topped up with other benefits. If other benefits are paid and these take someone up to £18k or £23k should some kind of tax be paid on sums over the £12.5k Someone earning minimum wage will earn £23809pa will pay £3.2k in tax and NI which takes them down to £20k, but then they may get top ups via tax credits. The number of people contributing is decreasing while the number taking out is increasing which is unsustainable.
I’m not saying it’s perfect, but could something like that be a starting point? Alternatively, a review of benefit eligibility?
It’s worth a discussion. | | | |
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| Budget Speculation - Part Deux 2025 on 21:08 - Nov 4 with 1298 views | max936 |
| Budget Speculation - Part Deux 2025 on 21:02 - Nov 4 by majorraglan |
Plenty of other governments have broken manifesto pledges and not stood down.
There is speculation tax will go up possibly as much as 2p in the pound, but that NI will also come down by a corresponding amount. That should mean the net effect on “workers” whoever they may be is very limited unless they have other income streams such as rent from buy to let properties etc. It’s likely that people who don’t work, but receive an income greater than the personal tax threshold will tax.
The point made earlier about the lack of support from MP’s for welfare reform is valid, that is something which really needs to reformed and this and other governments need to ensure people who are working are better off than those who are living continuously on benefits. We should be in a position where those who can’t work are supported and those who choose not to work because they can’t be asked aren’t.
It’s a bit radical, but what about imposing a tax on benefits received above the taxable allowance? Universal Credit for a single person is £3800pa and double that for a couple - these are nowhere near enough to survive on (and less than the £12.5k personal allowance) but they are invariably topped up with other benefits. If other benefits are paid and these take someone up to £18k or £23k should some kind of tax be paid on sums over the £12.5k Someone earning minimum wage will earn £23809pa will pay £3.2k in tax and NI which takes them down to £20k, but then they may get top ups via tax credits. The number of people contributing is decreasing while the number taking out is increasing which is unsustainable.
I’m not saying it’s perfect, but could something like that be a starting point? Alternatively, a review of benefit eligibility?
It’s worth a discussion. |
Well they are taxing pensioners on their pensions, so other benefits should come into that equation. |  |
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| Budget Speculation - Part Deux 2025 on 21:14 - Nov 4 with 1281 views | Luther27 |
| Budget Speculation - Part Deux 2025 on 16:51 - Nov 4 by Whiterockin |
We will not increase tax on the working people, so much for election promises. Breaking this core promise of Labour's election manifesto should mean they should stand down. |
Agree. The only thing that makes me smile…a wry one…is the torpedo shes just sunk the Senedd elections with. | | | |
| Budget Speculation - Part Deux 2025 on 08:26 - Nov 7 with 1143 views | AnotherJohn |
The latest indication about the forthcoming budget is that income tax will rise and NICs for working age people earning under around £50K will fall. This will give Labour the fig leaf of being able to say that the impact on most lower-income working people on PAYE is broadly neutral. The bad news for many of the regular posters on here though is that working pensioners or those getting more than the basic state pension are going to take a significant hit. Indeed, it is worth noting that this is right in line with the proposals of our own Swansea West MP, when he was with the Resolution Foundation. Other losers will be many self-employed people and small landlords. There is going to be a lot of mummering about Labour fibs in the run-up to the last election. | | | |
| Budget Speculation - Part Deux 2025 on 09:24 - Nov 7 with 1104 views | JACKMANANDBOY |
| Budget Speculation - Part Deux 2025 on 08:26 - Nov 7 by AnotherJohn |
The latest indication about the forthcoming budget is that income tax will rise and NICs for working age people earning under around £50K will fall. This will give Labour the fig leaf of being able to say that the impact on most lower-income working people on PAYE is broadly neutral. The bad news for many of the regular posters on here though is that working pensioners or those getting more than the basic state pension are going to take a significant hit. Indeed, it is worth noting that this is right in line with the proposals of our own Swansea West MP, when he was with the Resolution Foundation. Other losers will be many self-employed people and small landlords. There is going to be a lot of mummering about Labour fibs in the run-up to the last election. |
You'll find the budget outlined in here.
https://economy2030.resolutionfoundation.org/ | |
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| Budget Speculation - Part Deux 2025 on 12:41 - Nov 7 with 1080 views | EagleEye |
| Budget Speculation - Part Deux 2025 on 08:26 - Nov 7 by AnotherJohn |
The latest indication about the forthcoming budget is that income tax will rise and NICs for working age people earning under around £50K will fall. This will give Labour the fig leaf of being able to say that the impact on most lower-income working people on PAYE is broadly neutral. The bad news for many of the regular posters on here though is that working pensioners or those getting more than the basic state pension are going to take a significant hit. Indeed, it is worth noting that this is right in line with the proposals of our own Swansea West MP, when he was with the Resolution Foundation. Other losers will be many self-employed people and small landlords. There is going to be a lot of mummering about Labour fibs in the run-up to the last election. |
Lies, lies & more lies. Was it ever really any different ?
Budget for the “working people” innit. What they giveth in one hand they taketh with interest via the other. and don’t forget about stealth taxes on frozen limits. It’s good to work but don’t work too hard or earn too much. |  | | |
| Budget Speculation - Part Deux 2025 on 17:16 - Nov 7 with 1029 views | raynor94 |
It's all but confirmed a 2p rise income tax and a 2p deduction in NI over 8 million pensioners will be hit as they dont pay NI the first Chancellor to do this for 50 years
This Labour government has been a unmitigated disaster party of the people your having a laugh! | |
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| Budget Speculation - Part Deux 2025 on 17:43 - Nov 7 with 998 views | onehunglow |
| Budget Speculation - Part Deux 2025 on 17:16 - Nov 7 by raynor94 |
It's all but confirmed a 2p rise income tax and a 2p deduction in NI over 8 million pensioners will be hit as they dont pay NI the first Chancellor to do this for 50 years
This Labour government has been a unmitigated disaster party of the people your having a laugh! |
I said this would be the worst gvt in history
And so it is and they haven’t started yet
Labour supporters now hiding and no wonder
I mustn’t be misogynistic just to say Ms Reeves is not doing a good job for “ working people”
Or to impugn Mt Lammy who food bill is £2000 per week ( govt figures expenses),our Justice secretary
And Mr Zmilliband wanting us to go electric | |
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| Budget Speculation - Part Deux 2025 on 22:04 - Nov 7 with 955 views | majorraglan |
| Budget Speculation - Part Deux 2025 on 17:43 - Nov 7 by onehunglow |
I said this would be the worst gvt in history
And so it is and they haven’t started yet
Labour supporters now hiding and no wonder
I mustn’t be misogynistic just to say Ms Reeves is not doing a good job for “ working people”
Or to impugn Mt Lammy who food bill is £2000 per week ( govt figures expenses),our Justice secretary
And Mr Zmilliband wanting us to go electric |
I’d disagree with your comment about it being the worst government in our history, sadly we’ve had many of them in the last 50 years. More recently the 2010 to 2015 Cameron government, they decimated the police, criminal justice system, prisons etc etc, some have never recovered.
Then we have Boris’s lot, in my opinion Boris is the most dishonest PM we’ve ever had, VIP lanes, Garden Parties, trying to change the rules so as to avoid accountability and then lying to pretty much everyone over Pincher.
Not seen the Lammy figures, is that for him or the entire Foreign Office? | | | |
| Budget Speculation - Part Deux 2025 on 22:17 - Nov 7 with 946 views | JACKMANANDBOY |
| Budget Speculation - Part Deux 2025 on 17:16 - Nov 7 by raynor94 |
It's all but confirmed a 2p rise income tax and a 2p deduction in NI over 8 million pensioners will be hit as they dont pay NI the first Chancellor to do this for 50 years
This Labour government has been a unmitigated disaster party of the people your having a laugh! |
Well here's the thinking, we have an ageing population, most older people vote, the majority are close to retirement or retired. Lets target them for a tax rise regardless of their income level. They will be sure to vote for us next time. | |
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| Budget Speculation - Part Deux 2025 on 22:21 - Nov 7 with 927 views | Whiterockin |
| Budget Speculation - Part Deux 2025 on 22:17 - Nov 7 by JACKMANANDBOY |
Well here's the thinking, we have an ageing population, most older people vote, the majority are close to retirement or retired. Lets target them for a tax rise regardless of their income level. They will be sure to vote for us next time. |
They tried to freeze us to death so we wouldn't be around to vote next time.
It didn't work, they had to do a U turn. | | | |
| Budget Speculation - Part Deux 2025 on 22:51 - Nov 7 with 886 views | JACKMANANDBOY |
| Budget Speculation - Part Deux 2025 on 22:21 - Nov 7 by Whiterockin |
They tried to freeze us to death so we wouldn't be around to vote next time.
It didn't work, they had to do a U turn. |
The second piece of great thinking is last time 9.5 million people voted for us, so if we piss off 9 million voters that won't matter. | |
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| Budget Speculation - Part Deux 2025 on 07:59 - Nov 8 with 816 views | AnotherJohn |
| Budget Speculation - Part Deux 2025 on 17:16 - Nov 7 by raynor94 |
It's all but confirmed a 2p rise income tax and a 2p deduction in NI over 8 million pensioners will be hit as they dont pay NI the first Chancellor to do this for 50 years
This Labour government has been a unmitigated disaster party of the people your having a laugh! |
As I mentioned earlier, pensioners are right in the cross hairs and our own Swansea West MP is one of the main architects of that policy. Bell has no connection with our city and was parachuted in by the national leadership because of his Resolution Foundation background. If we had any sense we would let him know he is not welcome here, but I suppose there are too many sheep around who will always vote for the red rosette. | | | |
| Budget Speculation - Part Deux 2025 on 09:42 - Nov 8 with 773 views | raynor94 |
| Budget Speculation - Part Deux 2025 on 07:59 - Nov 8 by AnotherJohn |
As I mentioned earlier, pensioners are right in the cross hairs and our own Swansea West MP is one of the main architects of that policy. Bell has no connection with our city and was parachuted in by the national leadership because of his Resolution Foundation background. If we had any sense we would let him know he is not welcome here, but I suppose there are too many sheep around who will always vote for the red rosette. |
I e mailed him about how disgusted I was about the wfa had the most insincere reply which he'd obviously not written I certainly hope the citizens of Swansea West wake up to this charlatan | |
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| Budget Speculation - Part Deux 2025 on 10:19 - Nov 8 with 757 views | JACKMANANDBOY |
| Budget Speculation - Part Deux 2025 on 09:42 - Nov 8 by raynor94 |
I e mailed him about how disgusted I was about the wfa had the most insincere reply which he'd obviously not written I certainly hope the citizens of Swansea West wake up to this charlatan |
Another one in Parliament who CV contains a mix of political and adviser roles with no real job of any consequence or experience in the commercial world. Never mind he's writing the budget. | |
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| Budget Speculation - Part Deux 2025 on 15:56 - Nov 9 with 653 views | felixstowe_jack |
| Budget Speculation - Part Deux 2025 on 14:45 - Nov 3 by JACKMANANDBOY |
Most commentators seem to think the scheme has gone beyond what was originally planned. The scheme was designed to help people who could not get around because of their disability and to replace the old blue three wheelers with safer vehicles. Now it seems to be so much more than that. |
Now you can get them for mental health problems and addiction problems
A 1000 alcoholics and drug addicts got them last year. | |
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| Budget Speculation - Part Deux 2025 on 16:12 - Nov 9 with 630 views | felixstowe_jack |
Rachel's proposed EV charge per mile is another disaster waiting to happen. Take you EV to France for a touring holiday, travel a 1000 miles and you will pay £30 for the damage you caused to the UK roads. | |
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| Budget Speculation - Part Deux 2025 on 10:34 - Nov 11 with 515 views | AnotherJohn |
Unemployment now inching above 5% (and that doesn't count economically-inactive persons of working age not registered as available for employment). Rachel' s increase in NI doesn't seem compatible with her growth agenda.
https://www.bbc.co.uk/news/articles/cdxrp7znkdlo | | | |
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