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Post by raythesailor on Oct 28, 2024 9:54:25 GMT
I don't think I can recall a forthcoming budget that has resulted in so much apprehension and negative media reports as this next day of gloom finally arrives on Wednesday.
Labour government ministers have not helped with almost daily warnings and predictions.
So what are we guessing (that's all we can do) is going to happen and how will it affect our daily lives?
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Post by mrcoke on Oct 28, 2024 10:09:45 GMT
The problem with governments is most of what they do is largely self defeating.
Boosting the economy leads to massive inflation and destroys the value of the currency. But the richer get richer.
Austerity results is economic slowdown less tax revenue, higher unemployment costs for the government, and the poor get poorer.
It is widely broadcast that Reeves will hike employers national insurance contributions to raise revenue. You get one guess at who is the UK's biggest employer and will have to stand the biggest cost. The NHS alone employs 1.3 million people, the biggest employer in Europe, so how much will that drain the NHS budget?
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Post by scfcwebby on Oct 28, 2024 10:25:14 GMT
No doubt raise taxes on everything, raise national insurance, cut benefits and then send £42 billion to other countries to find their wars
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Post by questionable on Oct 28, 2024 10:28:15 GMT
No doubt raise taxes on everything, raise national insurance, cut benefits and then send £42 billion to other countries to find their wars In all honesty I can’t fault any financial aid we provide to Ukraine as if Russia aren’t stopped it’ll be a European problem without doubt very soon |
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Post by salopstick on Oct 28, 2024 10:32:20 GMT
we are going to be fucked
take a small to medium business
he employs 150 people. that is 150 mortgages, 150 families getting fed, 150 families not on benefits etc
he alraedy pays all his business taxes, money on the cost of busines vehicles etc, 150 x NI the list is endless. they might not be m,aking a huge profit, just ticking over and investing in his business.
if you now increase employer NI contributions that is a drain on his busioness, and it might mean he cant employ more or invest more etc
no governemnt has the bollocks to target super rich and large corporations that can afford it
small business are the equivalent of the middle class workers - easy to collect tax regardless of the outcomes. These people are working people, however labour dress it up they are breaking their pledges. A large employer NI hike has an impact on a lot of workers in this country
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Post by sticky on Oct 28, 2024 10:37:21 GMT
The three given bankers will be fuel, alcohol and tobacco all on the up. Prob see road tax go up and well
No idea how the system works, but you’d imagine local councils will have to be given more money before they go bump
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Post by thehartshillbadger on Oct 28, 2024 10:42:57 GMT
Not forgetting billions to “climate change” that’ll get lost
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Post by iancransonsknees on Oct 28, 2024 11:05:12 GMT
we are going to be fucked take a small to medium business he employs 150 people. that is 150 mortgages, 150 families getting fed, 150 families not on benefits etc he alraedy pays all his business taxes, money on the cost of busines vehicles etc, 150 x NI the list is endless. they might not be m,aking a huge profit, just ticking over and investing in his business. if you now increase employer NI contributions that is a drain on his busioness, and it might mean he cant employ more or invest more etc no governemnt has the bollocks to target super rich and large corporations that can afford it small business are the equivalent of the middle class workers - easy to collect tax regardless of the outcomes. These people are working people, however labour dress it up they are breaking their pledges. A large employer NI hike has an impact on a lot of workers in this country He's not a worker though, so fuck him. |
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Post by iancransonsknees on Oct 28, 2024 11:05:46 GMT
Not forgetting billions to “climate change” that’ll get lost Climate change is the new bank bail out and COVID app. |
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Post by questionable on Oct 28, 2024 11:21:47 GMT
The three given bankers will be fuel, alcohol and tobacco all on the up. Prob see road tax go up and well No idea how the system works, but you’d imagine local councils will have to be given more money before they go bump My road tax is already £570 I year, they surely can’t keep increasing as everytime you renew after receiving the reminder it’s always more you pay |
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Post by wannabee on Oct 28, 2024 11:28:16 GMT
The problem with governments is most of what they do is largely self defeating. Boosting the economy leads to massive inflation and destroys the value of the currency. But the richer get richer. Austerity results is economic slowdown less tax revenue, higher unemployment costs for the government, and the poor get poorer. It is widely broadcast that Reeves will hike employers national insurance contributions to raise revenue. You get one guess at who is the UK's biggest employer and will have to stand the biggest cost. The NHS alone employs 1.3 million people, the biggest employer in Europe, so how much will that drain the NHS budget? It is completely neutral The Treasury Funds the NHS The NHS pays additional NI Contributions to Treasury The only thing to be decided is what the NHS Budget should be. It's not exactly difficult to calculate the net net NI Contributions. |
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Post by salopstick on Oct 28, 2024 11:31:13 GMT
The three given bankers will be fuel, alcohol and tobacco all on the up. Prob see road tax go up and well No idea how the system works, but you’d imagine local councils will have to be given more money before they go bump My road tax is already £570 I year, they surely can’t keep increasing as everytime you renew after receiving the reminder it’s always more you pay of course they can and dont call me shirley |
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Post by mickeythemaestro on Oct 28, 2024 11:49:09 GMT
My road tax is already £570 I year, they surely can’t keep increasing as everytime you renew after receiving the reminder it’s always more you pay of course they can and dont call me shirley Of course they can and they will Shirley 😉 |
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Post by CBUFAWKIPWH on Oct 28, 2024 12:26:12 GMT
The Tory government cut NI as a pre election bribe creating a financial deficit knowing that if they lost the election it would be Labour's problem and they'd get blamed for raising taxes that shouldn't have been cut in the first place.
The next few budgets are all about fixing the shambles the last government left. The budgets to judge Labour by will be in 2 or 3 years time. Whatever happens it isn't going to be the shitshow Truss and Kwateng inflicted on the nation - that was truly special.
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Post by phileetin on Oct 28, 2024 12:37:31 GMT
crap
anyway , i don't mind paying more tax , i just don't like where they are spending / wasting it.
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Post by Rednwhitenblue on Oct 28, 2024 12:46:16 GMT
The Tory government cut NI as a pre election bribe creating a financial deficit knowing that if they lost the election it would be Labour's problem and they'd get blamed for raising taxes that shouldn't have been cut in the first place. The next few budgets are all about fixing the shambles the last government left. The budgets to judge Labour by will be in 2 or 3 years time. Whatever happens it isn't going to be the shitshow Truss and Kwateng inflicted on the nation - that was truly special. What? Don't you know Labour should've fixed everything by now?  And Kwarteng's budget was "one of the best speeches in parliament for years" apparently. Single-handedly responsible for blowing a £30bn hole in our public finances, but brilliant all the same  Piss-taking aside, your last paragraph is spot on. How quickly people forget the deliberate scorched-earth policy of the last few years of Tory governance, intended purely to make life harder for the incoming government. They'd baked in electoral defeat by mid 2022 and acted accordingly. Always worth bearing in mind when they bang on about patriotism, their love for the UK and all being in it together. They don't give a stuff about the country, its public services or the ordinary working man as their actions showed all too well. |
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Post by Orbs on Oct 28, 2024 12:57:37 GMT
we are going to be fucked take a small to medium business he employs 150 people. that is 150 mortgages, 150 families getting fed, 150 families not on benefits etc he alraedy pays all his business taxes, money on the cost of busines vehicles etc, 150 x NI the list is endless. they might not be m,aking a huge profit, just ticking over and investing in his business. if you now increase employer NI contributions that is a drain on his busioness, and it might mean he cant employ more or invest more etc no governemnt has the bollocks to target super rich and large corporations that can afford it small business are the equivalent of the middle class workers - easy to collect tax regardless of the outcomes. These people are working people, however labour dress it up they are breaking their pledges. A large employer NI hike has an impact on a lot of workers in this country *She/her perhaps? |
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Post by emretezzy on Oct 28, 2024 13:03:00 GMT
Remove any ambition or willingness to start a new business.
I own a successful business that doesn't need to be based here. If kids weren't in school I'd be off quicker than you could say 'free the sausages'.
I despise these free loaders.
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Post by emretezzy on Oct 28, 2024 13:04:05 GMT
The Tory government cut NI as a pre election bribe creating a financial deficit knowing that if they lost the election it would be Labour's problem and they'd get blamed for raising taxes that shouldn't have been cut in the first place. The next few budgets are all about fixing the shambles the last government left. The budgets to judge Labour by will be in 2 or 3 years time. Whatever happens it isn't going to be the shitshow Truss and Kwateng inflicted on the nation - that was truly special. No we'll judge them now thanks. Luckily in 3 years we will be nearly at the end. |
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Post by scfcbiancorossi on Oct 28, 2024 13:05:02 GMT
A (peaceful) military coup and storming of parliament led by Farage and Tice right about now would be good ☺️
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Post by Rednwhitenblue on Oct 28, 2024 13:07:24 GMT
A (peaceful) military coup and storming of parliament led by Farage and Tice right about now would be good ☺️ You lot take not getting your way all the time so well |
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Post by mrcoke on Oct 28, 2024 13:27:46 GMT
The problem with governments is most of what they do is largely self defeating. Boosting the economy leads to massive inflation and destroys the value of the currency. But the richer get richer. Austerity results is economic slowdown less tax revenue, higher unemployment costs for the government, and the poor get poorer. It is widely broadcast that Reeves will hike employers national insurance contributions to raise revenue. You get one guess at who is the UK's biggest employer and will have to stand the biggest cost. The NHS alone employs 1.3 million people, the biggest employer in Europe, so how much will that drain the NHS budget? It is completely neutral The Treasury Funds the NHS The NHS pays additional NI Contributions to Treasury The only thing to be decided is what the NHS Budget should be. It's not exactly difficult to calculate the net net NI Contributions. It's only neutral if the Chancellor increases the spend on the NHS to pay for the increased NI. I've no doubt she will increase NHS spending and claim it is all going to improved services. Just as Blair massively increased NHS spending but most of it went on reducing junior doctors hours and to GPs who now only need to work 3 days per week. That is until the 2008 financial crisis and then Labour found it necessary to reduce what they were pouring into the NHS having spent a decade destroying UK industry. fullfact.org/economy/did-labour-decimate-manufacturing/#:~:text=Under%20the%20total%20time%20Labour,fell%20to%2011%25%20by%202007. |
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Post by milton58 on Oct 28, 2024 13:38:04 GMT
Unfortunately the last government totally left this country well and truly fucked... labour now have the mess to clean up...we all know it's not going to be a budget that everyone will be happy with.but unfortunately it's got to be done...
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Post by superjw on Oct 28, 2024 13:43:52 GMT
Whatever it’s going to be it won’t be good - didn’t Starmer pledge to not raise income taxes? Let’s see if that turns out to be a manifesto lie.
Employer NI set to go up, unfortunately will be immediately passed down to us via price rises. As too is the bus fare cap, 50% raise in that which hits people straight in the pocket just trying to get to work.
Personally I’d really like to see this budget actually go after the disproportionate wealth in this country. I agree with the possibility that capital gains tax is to raise in line with other taxation though (if it happens)
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Post by iancransonsknees on Oct 28, 2024 13:44:58 GMT
Unfortunately the last government totally left this country well and truly fucked... labour now have the mess to clean up...we all know it's not going to be a budget that everyone will be happy with.but unfortunately it's got to be done... Why are spunking £22m on carbon capture if that's the case? |
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Post by mickeythemaestro on Oct 28, 2024 13:48:28 GMT
Unfortunately the last government totally left this country well and truly fucked... labour now have the mess to clean up...we all know it's not going to be a budget that everyone will be happy with.but unfortunately it's got to be done... Why are spunking £22m on carbon capture if that's the case? Cos 41bn of that fund has already gone missing and they need more silly 😉 |
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Post by superjw on Oct 28, 2024 13:49:44 GMT
Unfortunately the last government totally left this country well and truly fucked... labour now have the mess to clean up...we all know it's not going to be a budget that everyone will be happy with.but unfortunately it's got to be done... Why are spunking £22m on carbon capture if that's the case? Because Starmers mates have been promised the money of course… |
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Post by Clayton Wood on Oct 28, 2024 13:57:09 GMT
Unfortunately the last government totally left this country well and truly fucked... labour now have the mess to clean up...we all know it's not going to be a budget that everyone will be happy with.but unfortunately it's got to be done... Why are spunking £22m on carbon capture if that's the case? It's £22Billion mate. |
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Post by adri2008 on Oct 28, 2024 13:58:55 GMT
I don't mind an increase in taxes necessarily if it makes the country's finances sustainable. If we want functioning public services and to keep the state pension then we all need to be paying a bit more. Other wise more drastic measures are required e.g. raise the pension age to 70.
The proof will be in the pudding when we see the nitty gritty of the budget on the 30th but I am willing to give Starmer some leeway as at least he isn't attempting to kick difficult decisions into the long grass.
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Post by mickeythemaestro on Oct 28, 2024 14:03:14 GMT
Why are spunking £22m on carbon capture if that's the case? It's £22Billion mate. Sounds like a black hole that pal 😉 T618 is the largest known black hole weighing in at circa 66 billion of our suns. 22bn can't be that big surely. I think Reeves is an exaggerator 😆 The one good thing about the budget is its the day before Halloween so there should be some good newspaper headlines to look forward to 😆 |
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