General Election 2024

[Brophypants]

Oct 30, 2024 18:43:13 GMT barry said:

Oct 30, 2024 14:43:01 GMT Brophypants said:

Minimum wage increased. Tax threshold freeze not extended. Carers allowance more than doubled. Capital gains tax increased. New investment for schools and NHS.

Which of these things do you think harms working people?

Anyone who wants to save or invest rather than blowing their income. Farmers won’t be too happy either, which is a bit dangerous if they decide to stop rather than pass their business on. Thank god they will be gone in less than 5 years.

Any idea how many working people have savings worth a damn? Single digit percentages.

Those of us lucky enough to be affected by capital gains tax increases can eat them. It's absurd that they've been so low for so long anyway. A system where working is taxed thrice as much as sitting on assets is absurd and actively harmful to working people.

Oct 30, 2024 18:57:01 GMT texaspete said:

The massive increase in employer National Insurance will mean not many people will be getting a pay rise over the next two years or so.

Madness that Labour didn’t just commit to reversing the unfunded Tory NI cuts they tried and failed to bribe the electorate with

I don't see how that's the fault of the budget. rubbish employers have been finding reasons not to give pay rises forever anyway. There was the financial crash, and the markets spooked and we're all tightening our belts and austerity and the pandemic and Brexit and then recovering from that but oh we think there's another recession due and then Truss and Kwarteng were unleashed. If you've had a pay rise worth a damn for any five of the last ten years then you're one of the lucky ones already, and your employer is unlikely to put a cost of doing business in this country on you. If you, like most, haven't, it's business as usual.

I do very much agree with your last point though. The current government are hamstringing themselves with their insistence on following through with everything the previous failed government promised.

[barry]

This government is going to fail far more than the last one. She’s been found out today with the OBR not backing her fictitious £22bn claim. Companies now with less money, so prices up or jobs lost, farmers unable to hand down their farms, pointless anyone saving for retirement in a pension.

Can you explain how this is a “growth” budget but will result in a tiny 1.5% growth going forward. Pathetic.

[cambsno]

Oct 30, 2024 18:43:13 GMT barry said:

Oct 30, 2024 14:43:01 GMT Brophypants said:

Minimum wage increased. Tax threshold freeze not extended. Carers allowance more than doubled. Capital gains tax increased. New investment for schools and NHS.

Which of these things do you think harms working people?

Anyone who wants to save or invest rather than blowing their income. Farmers won’t be too happy either, which is a bit dangerous if they decide to stop rather than pass their business on. Thank god they will be gone in less than 5 years.

So how does this affect people who wish to save? Anyone buying a 2nd house pays more tax - fair enough!

[cambsno]

Oct 30, 2024 22:08:46 GMT barry said:

This government is going to fail far more than the last one. She’s been found out today with the OBR not backing her fictitious £22bn claim. Companies now with less money, so prices up or jobs lost, farmers unable to hand down their farms, pointless anyone saving for retirement in a pension.

Can you explain how this is a “growth” budget but will result in a tiny 1.5% growth going forward. Pathetic.

Why would farmers not be able to hand down farms?

Companies with less money - The Tories helped that with Brexit, more red tape and cost, harder to get candidates from overseas, greater costs due to FX crash. Not to mention the farce that was Truss!

[Mark of Carnage]

Oct 30, 2024 18:57:01 GMT texaspete said:

The massive increase in employer National Insurance will mean not many people will be getting a pay rise over the next two years or so.

I don't think it matters. The Employment Rights Bill should mean some decent pay rises, as soon as it becomes an Act, for either next year or the year after because the union voting threshold is being removed which means unions will only need a simple majority of over 50% of votes in favour of industrial action rather than the current requirement of both over meeting the voting threshold of over 50% members turning out to vote and over 50% of votes in favour of industrial action. That change alone is likely to lead to employers making more realistic pay offers or face industrial action. 

Employers did pretty well out of government over the last 14 years and all workers got was gimmick giveaways like tax cuts when what they really needed was a fair wage for their labour. Is time for a reset.

[lesj]

"Vehicle Excise Duty paid by owners of all but the most efficient new petrol cars to double in their first year, to encourage shift to electric vehicles"

I have a 15 year old 1.8 estate which has only done 58,000 miles, a perfectly good car. Being retired, I do less than 2000 miles a year . Why would I want to go electric with the mileage that I do?

I have just had to pay £305 tax. It does rather look as if it is going to cost me £610 next year. But while the car is still in good condition I do not intend to change. Still a lot cheaper than buying electric . If I was doing 10,000 miles + per year I might think different, but I'm not

[texaspete]

Oct 30, 2024 22:54:59 GMT Mark of Carnage said:

[ The Employment Rights Bill should mean some decent pay rises, as soon as it becomes an Act, for either next year or the year after because the union voting threshold is being removed which means unions will only need a simple majority of over 50% of votes in favour of industrial action rather than the current requirement of both over meeting the voting threshold of over 50% members turning out to vote and over 50% of votes in favour of industrial action. That change alone is likely to lead to employers making more realistic pay offers or face industrial action. 

Employers did pretty well out of government over the last 14 years and all workers got was gimmick giveaways like tax cuts when what they really needed was a fair wage for their labour. Is time for a reset.

The change in the threshold for strike action will make very little difference: most industries do not have collective bargaining processes led by trade unions and it’s not a significant barrier to strike action in those which do, as shown by the last few years of public sector strikes.

The OBR expects real wages to fall in 2026 and 2027 and it’s hard to disagree with their judgement, Definitely expecting that in the industry I work in - there’ll be lots of strikes but employers already have no money and an average £1,000 extra cost per employee will need to be found from somewhere…

[barry]

A budget for growth that offers no real growth from today. Pathetic.

[Brophypants]

Oct 30, 2024 22:08:46 GMT barry said:

This government is going to fail far more than the last one. She’s been found out today with the OBR not backing her fictitious £22bn claim. Companies now with less money, so prices up or jobs lost, farmers unable to hand down their farms, pointless anyone saving for retirement in a pension.

Can you explain how this is a “growth” budget but will result in a tiny 1.5% growth going forward. Pathetic.

You've said this twice, but I can see no evidence and you've provided none. How does this budget make it pointless saving?

[cambsno]

Oct 31, 2024 9:13:22 GMT Brophypants said:

Oct 30, 2024 22:08:46 GMT barry said:

This government is going to fail far more than the last one. She’s been found out today with the OBR not backing her fictitious £22bn claim. Companies now with less money, so prices up or jobs lost, farmers unable to hand down their farms, pointless anyone saving for retirement in a pension.

Can you explain how this is a “growth” budget but will result in a tiny 1.5% growth going forward. Pathetic.

You've said this twice, but I can see no evidence and you've provided none. How does this budget make it pointless saving?

I have asked a few questions and all he does is moan and not answer them!! Typical

[cambsno]

Oct 30, 2024 22:08:46 GMT barry said:

This government is going to fail far more than the last one. She’s been found out today with the OBR not backing her fictitious £22bn claim. Companies now with less money, so prices up or jobs lost, farmers unable to hand down their farms, pointless anyone saving for retirement in a pension.

Can you explain how this is a “growth” budget but will result in a tiny 1.5% growth going forward. Pathetic.

Impossible to fail more than the last one.

You will have to go some what to make things worse than Brexit did. It's like saying that our next manager will be worse than Ling. Impossible!

[lesj]

" It's like saying that our next manager will be worse than Ling. Impossible!"

Shellito, Ryan ?

[lesj]

Should this thread not be merged with the Comedy thread ?

[Brophypants]

Copied from Vanguard, to be clear: "the chancellor didn’t make any changes to pensions tax relief or individual savings accounts (ISAs), meaning these remain a simple and tax-efficient way of saving for your future. The chancellor also refrained from reducing the cap on pensions tax-free cash."

The capital gains tax increase has come at an inconvenient time for me personally, but that's just sod's law and not a good reason not to go through with it.

[barry]

Oct 31, 2024 9:13:22 GMT Brophypants said:

Oct 30, 2024 22:08:46 GMT barry said:

This government is going to fail far more than the last one. She’s been found out today with the OBR not backing her fictitious £22bn claim. Companies now with less money, so prices up or jobs lost, farmers unable to hand down their farms, pointless anyone saving for retirement in a pension.

Can you explain how this is a “growth” budget but will result in a tiny 1.5% growth going forward. Pathetic.

You've said this twice, but I can see no evidence and you've provided none. How does this budget make it pointless saving?

Do you struggle with economics? Evidence - watch the budget and the implications for pensions in IHT for a wife and family.