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Budget 2021
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By *jkuk72Man
over a year ago
London & Herts |
"Inheritance Tax abolished"
I agree. Possibly the most unfair tax of all. We get taxed during our lifetime, pay VAT on what we buy etc etc (which is fine, since we need to contribute to public services), but also get taxed on death? I would rather pay more tax during my lifetime if that would mean they can abolish inheritance tax. |
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"Inheritance Tax abolished
I agree. Possibly the most unfair tax of all. We get taxed during our lifetime, pay VAT on what we buy etc etc (which is fine, since we need to contribute to public services), but also get taxed on death? I would rather pay more tax during my lifetime if that would mean they can abolish inheritance tax."
Don’t you think it would just increase the wealth of the rich? I’d rather see inheritance tax used directly to fund community projects for the disadvantaged. Clever tax planning can negate a lot of it anyway if you’re so inclined |
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By *oodmessMan
over a year ago
yumsville |
Think the biggest challenge is to fix energy. Everything we buy is reflected in running/production costs. As we're moving away from oil/gas, subsidising or giving real financial backing to the green economy will only feed into better prices long term, affecting job creation, skills, exports, treasury coffers otherwise we'll keep importing therms or industry.
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"Inheritance Tax abolished
I agree. Possibly the most unfair tax of all. We get taxed during our lifetime, pay VAT on what we buy etc etc (which is fine, since we need to contribute to public services), but also get taxed on death? I would rather pay more tax during my lifetime if that would mean they can abolish inheritance tax.
Don’t you think it would just increase the wealth of the rich? I’d rather see inheritance tax used directly to fund community projects for the disadvantaged. Clever tax planning can negate a lot of it anyway if you’re so inclined "
I agree. I think the current tax free allowances are entirely sufficient though I wouldn't object to them being raised a bit. I definitely don't think the tax should be scrapped completely though. Wealth hoarding is enough of a problem already. |
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By *jkuk72Man
over a year ago
London & Herts |
"Inheritance Tax abolished
I agree. Possibly the most unfair tax of all. We get taxed during our lifetime, pay VAT on what we buy etc etc (which is fine, since we need to contribute to public services), but also get taxed on death? I would rather pay more tax during my lifetime if that would mean they can abolish inheritance tax.
Don’t you think it would just increase the wealth of the rich? I’d rather see inheritance tax used directly to fund community projects for the disadvantaged. Clever tax planning can negate a lot of it anyway if you’re so inclined "
One of the issues with inheritance tax is that the rich generally avoid it with clever planning anyway, so it mostly hits middle class people. And it only represents less than 1% of the total UK tax take (I just googled this statistic to make sure I got it right lol). That's why I think it should be abolished. That 1% could be collected by a slight increase in other taxes. This would simplify the system. |
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By (user no longer on site)
over a year ago
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IHT feels like a way of taxing gains in a sensible way. Otherwise I could end up paying CGT on a house I inherited from my parents that has 60 odd years of gains. Imo wealth has to be taxed as well as income otherwise we will never close the social gap ... We make it harder to accumulate assetw while letting those already asset rich to benefit more and more.
I'd like iht to be a "victimless" tax so need to be careful of those with a true dependency. But on the most part it's delaying the overall tax bill of an individual to a point in time when they no longer need the money. |
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"IHT feels like a way of taxing gains in a sensible way. Otherwise I could end up paying CGT on a house I inherited from my parents that has 60 odd years of gains. Imo wealth has to be taxed as well as income otherwise we will never close the social gap ... We make it harder to accumulate assetw while letting those already asset rich to benefit more and more.
I'd like iht to be a "victimless" tax so need to be careful of those with a true dependency. But on the most part it's delaying the overall tax bill of an individual to a point in time when they no longer need the money. "
A family in my sister’s class at school had two generations die in quick succession and had to open their stately home to the public to pay the IHT bill, how can that be fair 
True story bro |
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By (user no longer on site)
over a year ago
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"IHT feels like a way of taxing gains in a sensible way. Otherwise I could end up paying CGT on a house I inherited from my parents that has 60 odd years of gains. Imo wealth has to be taxed as well as income otherwise we will never close the social gap ... We make it harder to accumulate assetw while letting those already asset rich to benefit more and more.
I'd like iht to be a "victimless" tax so need to be careful of those with a true dependency. But on the most part it's delaying the overall tax bill of an individual to a point in time when they no longer need the money.
A family in my sister’s class at school had two generations die in quick succession and had to open their stately home to the public to pay the IHT bill, how can that be fair
True story bro"
Anyone that rich should shell out for a financial advisor ... A nice but of life assurance could have avoided that (not financial advice btw) |
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"Inheritance Tax abolished
I agree. Possibly the most unfair tax of all. We get taxed during our lifetime, pay VAT on what we buy etc etc (which is fine, since we need to contribute to public services), but also get taxed on death? I would rather pay more tax during my lifetime if that would mean they can abolish inheritance tax.
Don’t you think it would just increase the wealth of the rich? I’d rather see inheritance tax used directly to fund community projects for the disadvantaged. Clever tax planning can negate a lot of it anyway if you’re so inclined
I agree. I think the current tax free allowances are entirely sufficient though I wouldn't object to them being raised a bit. I definitely don't think the tax should be scrapped completely though. Wealth hoarding is enough of a problem already.
"
Exactly, no tax is actually required to fund spending. It is required however to redistribute wealth, and bring hoarded wealth back into the economy.
The only reason governments tall about "sharing the tax burden" is so it looks fair. But to my mind it does not need to look fair.
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"Inheritance Tax abolished
I agree. Possibly the most unfair tax of all. We get taxed during our lifetime, pay VAT on what we buy etc etc (which is fine, since we need to contribute to public services), but also get taxed on death? I would rather pay more tax during my lifetime if that would mean they can abolish inheritance tax.
Don’t you think it would just increase the wealth of the rich? I’d rather see inheritance tax used directly to fund community projects for the disadvantaged. Clever tax planning can negate a lot of it anyway if you’re so inclined
I agree. I think the current tax free allowances are entirely sufficient though I wouldn't object to them being raised a bit. I definitely don't think the tax should be scrapped completely though. Wealth hoarding is enough of a problem already.
Exactly, no tax is actually required to fund spending. It is required however to redistribute wealth, and bring hoarded wealth back into the economy.
The only reason governments tall about "sharing the tax burden" is so it looks fair. But to my mind it does not need to look fair.
"
Thinking on it though I think maybe the only thing that could be adjusted is perhaps having a separate London tax free allowance for when leaving property to your children. The current one is more than adequate for people like myself in the North to inherit my family home but for family still living in London this might not be the case. Even ex council houses can be over the limit. |
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By (user no longer on site)
over a year ago
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"Tax should be on assets, and not on wealth. That way, the super rich have less manoeuvrability in shipping wealth offshore. "
what's the difference? Shipping wealth offshore is (I think) more about moving the ownership than moving the asset.
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By *ercuryMan
over a year ago
Grantham |
"Tax should be on assets, and not on wealth. That way, the super rich have less manoeuvrability in shipping wealth offshore. what's the difference? Shipping wealth offshore is (I think) more about moving the ownership than moving the asset. "
Its harder to move a stately home, a farm or a business abroad, and should anyone try to do so, you levy an exit tax on them. |
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By *oodmessMan
over a year ago
yumsville |
Seems inheritance tax is quite an important topic, when the likelihood of people being affected by inheritance tax must only come when you are past middle age and should already have some savings.
Not that I am saying a reduction would be good (as I have not been affected by it so wouldn't know), simply I would think another party somewhere down the line would reverse the decision. And I am surprised (Post Covid), things like - building more homes, fixing supply chains, grants to small businesses, reducing the cost of living or energy costs hasn't been mentioned more
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By *abioMan
over a year ago
Newcastle and Gateshead |
"Inheritance Tax abolished
Lucky you to exceed the tax free limit "
Trouble is if you own a house in London for example the value of that will tax you over the limit….
I don’t have a problem with the tax… I’d like to see the threshold raised.. so that people are for example highly unlikely to get caught up…
For example raise it to 500k and 750k if left to family |
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By *abioMan
over a year ago
Newcastle and Gateshead |
I know they have been waiving it for the last few years but getting rid of the fuel escalator would be a start….
Also… I’d raise the ev subsidy scheme, both the amount that the gov give… and upper value to which it can be given!
You want people to buy more electric cars and switch that is a good start as most electric cars are priced just above the upper limit…..
You make those cars competitive in price and people will buy them |
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By *ony 2016Man
over a year ago
Huddersfield /derby cinemas |
The Chief Secretary to the treasury was in Parliament having to answer questions on leaks to the media about the budget ( his boss Sunak -- and his boss Johnson nowhere to be seen) , , Conservative MP Sir Desmund Swaine,clearly unhappy about the lack of respect to democracy and parliament asked a specific question ,the response he received was that "the government does not respond to leaked reports " (, hehe lol ) it is the government that has leaked the information , , |
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By *abioMan
over a year ago
Newcastle and Gateshead |
OBR are forecasting that inflation will be hovering around 4% for the next 12 months….
That is going to be interesting to see what public sector pay rise he is going to dish out…. |
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By *abioMan
over a year ago
Newcastle and Gateshead |
That was interesting…….
I like the drinks duty change… that makes so much more sense (and as a drinker of non alcoholic beers I will see what difference it will make)
The universal credit taper drop is a sly way of negating a lot of the 20 pound extra people were getting thru covid….
The language of the public sector pay unfreeze is interesting… he said he will leave it up to the independent pay boards, but because the OBR said the average for CPI is going to be averaging around 4% for the next 12 months…. You are going to see some really interesting pay claims… |
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By *ostafunMan
over a year ago
near ipswich |
"OBR are forecasting that inflation will be hovering around 4% for the next 12 months….
That is going to be interesting to see what public sector pay rise he is going to dish out…."
No i think they said they expect it to start falling the early part of next year. |
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By *ackal1Couple
over a year ago
Manchester |
"OBR are forecasting that inflation will be hovering around 4% for the next 12 months….
That is going to be interesting to see what public sector pay rise he is going to dish out….No i think they said they expect it to start falling the early part of next year."
I think they said it will go higher for a while but average out for the whole year at 4% The cost of energy may pressure it up to average 5%
I was amused at the “freeze “ on fuel duty . The price has gone up so the VAT takes care of the increase .
.
I haven’t read the detail and just as a comment I like the way Rishi comes across even if I don’t agree with all he says but also I thought Rachel Reeves did well.
Nice to see some professional speaking. |
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By *ostafunMan
over a year ago
near ipswich |
"OBR are forecasting that inflation will be hovering around 4% for the next 12 months….
That is going to be interesting to see what public sector pay rise he is going to dish out….No i think they said they expect it to start falling the early part of next year.
I think they said it will go higher for a while but average out for the whole year at 4% The cost of energy may pressure it up to average 5%
I was amused at the “freeze “ on fuel duty . The price has gone up so the VAT takes care of the increase .
.
I haven’t read the detail and just as a comment I like the way Rishi comes across even if I don’t agree with all he says but also I thought Rachel Reeves did well.
Nice to see some professional speaking. "
Did you really i thought she failed to grasp the simple fact that rising fuel prices lead to higher transport costs and food prices so i switched off when she started with that. |
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By *oodmessMan
over a year ago
yumsville |
I must have had my head in the sand as I've not heard much from Reeves. She did what opposition is supposed to do. No bleating just facts on gaps/opportunities missed, some support and a few well tailored good jibes. |
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By *ackal1Couple
over a year ago
Manchester |
"OBR are forecasting that inflation will be hovering around 4% for the next 12 months….
That is going to be interesting to see what public sector pay rise he is going to dish out….No i think they said they expect it to start falling the early part of next year.
I think they said it will go higher for a while but average out for the whole year at 4% The cost of energy may pressure it up to average 5%
I was amused at the “freeze “ on fuel duty . The price has gone up so the VAT takes care of the increase .
.
I haven’t read the detail and just as a comment I like the way Rishi comes across even if I don’t agree with all he says but also I thought Rachel Reeves did well.
Nice to see some professional speaking. Did you really i thought she failed to grasp the simple fact that rising fuel prices lead to higher transport costs and food prices so i switched off when she started with that."
Oh I’m not defending her content as was only watching in passing so no don’t confuse my compliment as relating to any facts . ( Although wages add increased transports costs as does customs costs and delays, which eventually also lead to higher food prices. So it’s not just fuel ).
No my point was it was just nice to hear no waffling and stuttering bollocks . Ie Boris and Starmer.
Looking at the whole thing briefly he’s taxed workers more to look like there’s a give away to some, but actually it’s less than he’s taking and using the extra tax to reduce borrowing .
Business NI contribution increases business costs by £3-5 Billion but they get £1B rate reduction hmmm. Not paying rates on an extension for a year won’t decide if the plan goes ahead. So that’s just twaddle. You don’t stop a £20m build for the sake of £100k rates for a year. I agree it may help small businesses though.
Where’s the tax for the big online guys and the offshore tax avoiders. Thought we were in this together ?
Education spending increases don’t match the cuts over the last ten years so what about the Covid element and helping the children affected by Covid curtailing their education. That should be on top of any catching up spending!!
Like I said only seen headlines so don’t want to argue the detail but it just looks like another bullshit job. But then not that many have been any real good over the years for your average worker. |
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"OBR are forecasting that inflation will be hovering around 4% for the next 12 months….
That is going to be interesting to see what public sector pay rise he is going to dish out….No i think they said they expect it to start falling the early part of next year.
I think they said it will go higher for a while but average out for the whole year at 4% The cost of energy may pressure it up to average 5%
I was amused at the “freeze “ on fuel duty . The price has gone up so the VAT takes care of the increase .
.
I haven’t read the detail and just as a comment I like the way Rishi comes across even if I don’t agree with all he says but also I thought Rachel Reeves did well.
Nice to see some professional speaking. Did you really i thought she failed to grasp the simple fact that rising fuel prices lead to higher transport costs and food prices so i switched off when she started with that."
Hardly surprising, given how much you regularly fail to grasp yourself.
On the whole, yet another move further to the left. A lot of socialism in that budget - particularly if you are in low paid work; you're no longer getting kicked when you're down.
Sunak commended his budget to the house, despite having told everyone it wasn't what he wanted to do; indeed, he said it was due to the circumstances of the pandemic.
I've said that repeatedly - "forced into it". I don't mind that at all. All that tax and spend - New Labour 2.0, whether you like it or not.
IF it works, it raises two questions:
1. If it's worked, how - as the Tories - do you ever again tell the electorate that tax and spend isn't the way to go?
2. If you're the Labour Party, how do persuade the electorate to let you have a go?
Because if tax and spend works - particularly in reducing the burden on the poor - what does it matter who's doing it? |
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By *ostafunMan
over a year ago
near ipswich |
"OBR are forecasting that inflation will be hovering around 4% for the next 12 months….
That is going to be interesting to see what public sector pay rise he is going to dish out….No i think they said they expect it to start falling the early part of next year.
I think they said it will go higher for a while but average out for the whole year at 4% The cost of energy may pressure it up to average 5%
I was amused at the “freeze “ on fuel duty . The price has gone up so the VAT takes care of the increase .
.
I haven’t read the detail and just as a comment I like the way Rishi comes across even if I don’t agree with all he says but also I thought Rachel Reeves did well.
Nice to see some professional speaking. Did you really i thought she failed to grasp the simple fact that rising fuel prices lead to higher transport costs and food prices so i switched off when she started with that.
Hardly surprising, given how much you regularly fail to grasp yourself.
On the whole, yet another move further to the left. A lot of socialism in that budget - particularly if you are in low paid work; you're no longer getting kicked when you're down.
Sunak commended his budget to the house, despite having told everyone it wasn't what he wanted to do; indeed, he said it was due to the circumstances of the pandemic.
I've said that repeatedly - "forced into it". I don't mind that at all. All that tax and spend - New Labour 2.0, whether you like it or not.
IF it works, it raises two questions:
1. If it's worked, how - as the Tories - do you ever again tell the electorate that tax and spend isn't the way to go?
2. If you're the Labour Party, how do persuade the electorate to let you have a go?
Because if tax and spend works - particularly in reducing the burden on the poor - what does it matter who's doing it?"
Oh i grasp myself regularly  Yes it looks like they have pulled the rug from under labours feet and all she could say it should have been more without saying where the money would come from the usual labour retort.I cant see where labour can go from here unless they go down the corbyn route again and we all know that doesnt win votes. |
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"OBR are forecasting that inflation will be hovering around 4% for the next 12 months….
That is going to be interesting to see what public sector pay rise he is going to dish out….No i think they said they expect it to start falling the early part of next year.
I think they said it will go higher for a while but average out for the whole year at 4% The cost of energy may pressure it up to average 5%
I was amused at the “freeze “ on fuel duty . The price has gone up so the VAT takes care of the increase .
.
I haven’t read the detail and just as a comment I like the way Rishi comes across even if I don’t agree with all he says but also I thought Rachel Reeves did well.
Nice to see some professional speaking. Did you really i thought she failed to grasp the simple fact that rising fuel prices lead to higher transport costs and food prices so i switched off when she started with that.
Hardly surprising, given how much you regularly fail to grasp yourself.
On the whole, yet another move further to the left. A lot of socialism in that budget - particularly if you are in low paid work; you're no longer getting kicked when you're down.
Sunak commended his budget to the house, despite having told everyone it wasn't what he wanted to do; indeed, he said it was due to the circumstances of the pandemic.
I've said that repeatedly - "forced into it". I don't mind that at all. All that tax and spend - New Labour 2.0, whether you like it or not.
IF it works, it raises two questions:
1. If it's worked, how - as the Tories - do you ever again tell the electorate that tax and spend isn't the way to go?
2. If you're the Labour Party, how do persuade the electorate to let you have a go?
Because if tax and spend works - particularly in reducing the burden on the poor - what does it matter who's doing it?Oh i grasp myself regularly Yes it looks like they have pulled the rug from under labours feet and all she could say it should have been more without saying where the money would come from the usual labour retort.I cant see where labour can go from here unless they go down the corbyn route again and we all know that doesnt win votes."
Real wages are set to fall again next year, while the medium-term outlook for steady state real wage growth at the end of the forecast period is just 1.5 per cent (down from 2.5 per cent in 2010). This is particularly troubling, given the UK is still in the midst of its weakest decade for pay growth since the 1930s. |
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"OBR are forecasting that inflation will be hovering around 4% for the next 12 months….
That is going to be interesting to see what public sector pay rise he is going to dish out….No i think they said they expect it to start falling the early part of next year.
I think they said it will go higher for a while but average out for the whole year at 4% The cost of energy may pressure it up to average 5%
I was amused at the “freeze “ on fuel duty . The price has gone up so the VAT takes care of the increase .
.
I haven’t read the detail and just as a comment I like the way Rishi comes across even if I don’t agree with all he says but also I thought Rachel Reeves did well.
Nice to see some professional speaking. Did you really i thought she failed to grasp the simple fact that rising fuel prices lead to higher transport costs and food prices so i switched off when she started with that.
Hardly surprising, given how much you regularly fail to grasp yourself.
On the whole, yet another move further to the left. A lot of socialism in that budget - particularly if you are in low paid work; you're no longer getting kicked when you're down.
Sunak commended his budget to the house, despite having told everyone it wasn't what he wanted to do; indeed, he said it was due to the circumstances of the pandemic.
I've said that repeatedly - "forced into it". I don't mind that at all. All that tax and spend - New Labour 2.0, whether you like it or not.
IF it works, it raises two questions:
1. If it's worked, how - as the Tories - do you ever again tell the electorate that tax and spend isn't the way to go?
2. If you're the Labour Party, how do persuade the electorate to let you have a go?
Because if tax and spend works - particularly in reducing the burden on the poor - what does it matter who's doing it?Oh i grasp myself regularly Yes it looks like they have pulled the rug from under labours feet and all she could say it should have been more without saying where the money would come from the usual labour retort.I cant see where labour can go from here unless they go down the corbyn route again and we all know that doesnt win votes."
Saw some of reeves on peston last night and I have to agree should could not say where or how they would find the money really, she kind of did for some but the figures were a billions away from where they needed to be and she seemed unable to come up with answers when pushed. Was shocked when she said Labour would axe the vat on energy bills considering the climate issues and with cop 26 starting in a few days time to be honest too. |
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By *ostafunMan
over a year ago
near ipswich |
"OBR are forecasting that inflation will be hovering around 4% for the next 12 months….
That is going to be interesting to see what public sector pay rise he is going to dish out….No i think they said they expect it to start falling the early part of next year.
I think they said it will go higher for a while but average out for the whole year at 4% The cost of energy may pressure it up to average 5%
I was amused at the “freeze “ on fuel duty . The price has gone up so the VAT takes care of the increase .
.
I haven’t read the detail and just as a comment I like the way Rishi comes across even if I don’t agree with all he says but also I thought Rachel Reeves did well.
Nice to see some professional speaking. Did you really i thought she failed to grasp the simple fact that rising fuel prices lead to higher transport costs and food prices so i switched off when she started with that.
Hardly surprising, given how much you regularly fail to grasp yourself.
On the whole, yet another move further to the left. A lot of socialism in that budget - particularly if you are in low paid work; you're no longer getting kicked when you're down.
Sunak commended his budget to the house, despite having told everyone it wasn't what he wanted to do; indeed, he said it was due to the circumstances of the pandemic.
I've said that repeatedly - "forced into it". I don't mind that at all. All that tax and spend - New Labour 2.0, whether you like it or not.
IF it works, it raises two questions:
1. If it's worked, how - as the Tories - do you ever again tell the electorate that tax and spend isn't the way to go?
2. If you're the Labour Party, how do persuade the electorate to let you have a go?
Because if tax and spend works - particularly in reducing the burden on the poor - what does it matter who's doing it?Oh i grasp myself regularly Yes it looks like they have pulled the rug from under labours feet and all she could say it should have been more without saying where the money would come from the usual labour retort.I cant see where labour can go from here unless they go down the corbyn route again and we all know that doesnt win votes.
Saw some of reeves on peston last night and I have to agree should could not say where or how they would find the money really, she kind of did for some but the figures were a billions away from where they needed to be and she seemed unable to come up with answers when pushed. Was shocked when she said Labour would axe the vat on energy bills considering the climate issues and with cop 26 starting in a few days time to be honest too."
Although it is possible to axe VAT on energy now we have left it was at the minimum rate the eu allowed anyway and i didnt think they would do away with it completely for the reasons you quote but also it leaves no wriggle room for the future.Gas prices are only going to go up unless the eu give in to Russia over their competition rules over nord stream 2 i said a while back it was the wrong move and now being proven right. |
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"To put the budget in perspective, we have over 2000 food banks, Sunak cut tax on champagne. and beer cheers rishi. 
What's to cheer about people having to use food banks? no cheaper beer. "
So, you want cheaper beer and are not concerned about food banks? |
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"To put the budget in perspective, we have over 2000 food banks, Sunak cut tax on champagne. and beer cheers rishi.
What's to cheer about people having to use food banks? no cheaper beer.
So, you want cheaper beer and are not concerned about food banks?
"
It also depends what beer you drink. The way tax works on beer is that this reduction is only applicable to beer produced and supplied in 40+ litre barrels, which is not 99% of the smaller and craft brewers.
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By *ostafunMan
over a year ago
near ipswich |
"To put the budget in perspective, we have over 2000 food banks, Sunak cut tax on champagne. and beer cheers rishi.
What's to cheer about people having to use food banks? no cheaper beer.
So, you want cheaper beer and are not concerned about food banks?"
Did i say that? my you are getting desperate but typical of these days, take something out of context "ooooh look at this bad person he doesnt care about food banks". You make me laugh and would guess the majority of people can see what you are doing.Now if you care to start a thread about food banks i will gladly contribute to the discussion in the mean time i suggest you grow up a bit and learn to debate. |
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By *andy 1Couple
over a year ago
northeast |
"To put the budget in perspective, we have over 2000 food banks, Sunak cut tax on champagne. and beer cheers rishi.
What's to cheer about people having to use food banks? no cheaper beer.
So, you want cheaper beer and are not concerned about food banks?Did i say that? my you are getting desperate but typical of these days, take something out of context "ooooh look at this bad person he doesnt care about food banks". You make me laugh and would guess the majority of people can see what you are doing.Now if you care to start a thread about food banks i will gladly contribute to the discussion in the mean time i suggest you grow up a bit and learn to debate. "
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By *ercuryMan
over a year ago
Grantham |
"To put the budget in perspective, we have over 2000 food banks, Sunak cut tax on champagne. and beer cheers rishi.
What's to cheer about people having to use food banks? no cheaper beer.
So, you want cheaper beer and are not concerned about food banks?
It also depends what beer you drink. The way tax works on beer is that this reduction is only applicable to beer produced and supplied in 40+ litre barrels, which is not 99% of the smaller and craft brewers.
"
I believe that a rethink is now under way, in order to allow 30 litre barrels most commonly used by craft brewers. |
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By *eroy1000Man
over a year ago
milton keynes |
"OBR are forecasting that inflation will be hovering around 4% for the next 12 months….
That is going to be interesting to see what public sector pay rise he is going to dish out….No i think they said they expect it to start falling the early part of next year.
I think they said it will go higher for a while but average out for the whole year at 4% The cost of energy may pressure it up to average 5%
I was amused at the “freeze “ on fuel duty . The price has gone up so the VAT takes care of the increase .
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I haven’t read the detail and just as a comment I like the way Rishi comes across even if I don’t agree with all he says but also I thought Rachel Reeves did well.
Nice to see some professional speaking. Did you really i thought she failed to grasp the simple fact that rising fuel prices lead to higher transport costs and food prices so i switched off when she started with that.
Hardly surprising, given how much you regularly fail to grasp yourself.
On the whole, yet another move further to the left. A lot of socialism in that budget - particularly if you are in low paid work; you're no longer getting kicked when you're down.
Sunak commended his budget to the house, despite having told everyone it wasn't what he wanted to do; indeed, he said it was due to the circumstances of the pandemic.
I've said that repeatedly - "forced into it". I don't mind that at all. All that tax and spend - New Labour 2.0, whether you like it or not.
IF it works, it raises two questions:
1. If it's worked, how - as the Tories - do you ever again tell the electorate that tax and spend isn't the way to go?
2. If you're the Labour Party, how do persuade the electorate to let you have a go?
Because if tax and spend works - particularly in reducing the burden on the poor - what does it matter who's doing it?Oh i grasp myself regularly Yes it looks like they have pulled the rug from under labours feet and all she could say it should have been more without saying where the money would come from the usual labour retort.I cant see where labour can go from here unless they go down the corbyn route again and we all know that doesnt win votes.
Saw some of reeves on peston last night and I have to agree should could not say where or how they would find the money really, she kind of did for some but the figures were a billions away from where they needed to be and she seemed unable to come up with answers when pushed. Was shocked when she said Labour would axe the vat on energy bills considering the climate issues and with cop 26 starting in a few days time to be honest too.Although it is possible to axe VAT on energy now we have left it was at the minimum rate the eu allowed anyway and i didnt think they would do away with it completely for the reasons you quote but also it leaves no wriggle room for the future.Gas prices are only going to go up unless the eu give in to Russia over their competition rules over nord stream 2 i said a while back it was the wrong move and now being proven right. "
It's also a good money spinner. With the fuel prices going up so the amount of VAT paid goes up. I read somewhere that the treasury are getting in 2 billion more than expected already |
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