Cable Forum - Starmer’s chronicles

Pension changes are stupid.
Everything else is meh.

Freezing tax bands is annoying but fully expected, don't think any government will change that until we get some growth from somewhere.

---------- Post added at 23:24 ---------- Previous post was at 23:22 ----------

Quote:

Originally Posted by Paul (Post 36206987)

Chipping at or taking away all the incentives to save, or build up your pension, what complete muppets.

* ISA Limit reducing to 12,000
* Tax on interest rising higher than other income.
* Pension contributions above £2,000 a year made via salary sacrifice will be subject to National Insurance.

ISA will be higher if the remaining investment is Stocks and Shares, I think. Part of the reason is that the government want people to invest both to boost business but also so they get higher returns. It's hard to beat inflation with bank rates so people's money is slowly devaluing. A lot of dead money is sitting around. That's why these changes don't apply to people over 65 who might want to start drawing down their cash rather than letting it grow (and have smaller time horizons in case things go south).

Paul	27-11-2025 02:27

Re: Starmer’s chronicles

Quote:

Originally Posted by Damien (Post 36206993)

ISA will be higher if the remaining investment is Stocks and Shares

People are not interested in "investing" in stocks or shares, most dont really understand them, but they do understand the warning "you may get back less than the amount you invested". So of course, they prefer the safer option of interest (Me included, IMO stocks/shares are a gamble).

Mr K	27-11-2025 08:10

Re: Starmer’s chronicles

Quote:

Originally Posted by Paul (Post 36206996)

A bit of both? Stocks and shares are give bigger returns in the the long term. Over time they do much better than cash savings. With cash savings if inflation is higher than the saving rate, then they are a guaranteed loss.

Quote:

analysis from AJ Bell shows that £1,000 deposited into the average cash ISA when ISAs were launched in 1999 would today be worth £2,079. The same investment into UK stocks via a typical UK All Companies fund would be worth almost twice as much, at £3,787.

https://moneyweek.com/personal-finan...cks-and-shares

Damien

27-11-2025 09:28

Re: Starmer’s chronicles

Quote:

Originally Posted by Paul (Post 36206996)

Sure, and it's risky for short-term savings, but for long-term savings, it does become an issue as people are getting smaller returns. I.E, A lot of pension saving has to be in shares, otherwise the growth will be really poor.

Sephiroth

27-11-2025 10:35

Re: Starmer’s chronicles

I deduce from this budget that Labour simply wants to stay in power by buying the votes of people on benefits. Hence a no-growth budget.

But Labour won't keep the pensioners' vote (imo) because that cohort suffers under Labour.

But then what? Kemi gave a star performance yesterday - but then her party chairman made that disgraceful Hitler jibe (which she dismissed as "joking"). I'm seriously reconsidering my membership of the Conservative Party (that'll give some of you something on which to bite).

nomadking

27-11-2025 11:10

Re: Starmer’s chronicles

Quote:

Originally Posted by Pierre (Post 36206989)

No it wasn’t.

But if you can show me that caveat in the Labour manifesto…….I’ll look at it.

Can you show me any mention of £300? Not there

Quote:

We will bring down the cost of energy. We will reduce food prices
by removing barriers to businesses trading.

When did that happen?
Link

Quote:

We will end the chaotic Conservative chopping and changing on policy, harness clean power to boost our energy security, and invest in home insulation upgrades. We will save families hundreds of pounds on their bills, not just in the short term, but for good.

It was never all just about energy prices, but a £300 reduction on average on bills.

Hansard

Quote:

The Secretary of State for Energy Security and Net Zero
(Ed Miliband)
In 2025-26 alone we will upgrade up to 300,000 homes through the warm homes plan and other measures. That is more than double the number of homes upgraded last year. Later this year we will set out more detail of our warm homes plan to upgrade up to 5 million homes with energy-efficient technologies such as heat pumps, solar and insulation in order to deliver warmer homes and lower bills.

Quote:

Ed Miliband
We said we would cut bills by up to £300, and that is absolutely what we are determined to do.

So now it's an "up to", which could be just 50p.

Chris

27-11-2025 14:10

Re: Starmer’s chronicles

It could only ever have been an ‘up to’. If you already live in a modern well insulated house there’s nothing any government can do to reduce your bills by that much, short of substantially, artificially lowering the cost of gas and electricity.

Pierre

27-11-2025 14:38

Re: Starmer’s chronicles

Quote:

Originally Posted by Sephiroth (Post 36207014)

[COLOR="Blue"]I deduce from this budget that Labour simply wants to stay in power by buying the votes of people on benefits.

No shit!

---------- Post added at 13:38 ---------- Previous post was at 13:30 ----------

Quote:

Originally Posted by nomadking (Post 36207016)

Can you show me any mention of £300? Not there
When did that happen?
Link
It was never all just about energy prices, but a £300 reduction on average on bills.

HansardSo now it's an "up to", which could be just 50p.

https://labour.org.uk/updates/storie...ps-for-change/

Quote:

Great British Energy is part of Labour’s Green Prosperity Plan to create 650,000 good jobs, cut bills by £300 on average and deliver real energy security.

It one of the first things they promised before they were in government. regardless of how they thought they were going to do it, they haven't.

and they haven't delivered it, and even if they did it wouldn't matter now anyway as the perceived reduction would be just swallowed up by tax.

papa smurf

27-11-2025 14:47

Re: Starmer’s chronicles

Quote:

Originally Posted by Pierre (Post 36207029)

No shit!

---------- Post added at 13:38 ---------- Previous post was at 13:30 ----------

https://labour.org.uk/updates/storie...ps-for-change/

It one of the first things they promised before they were in government. regardless of how they thought they were going to do it, they haven't.

and they haven't delivered it, and even if they did it wouldn't matter now anyway as the perceived reduction would be just swallowed up by tax.

They should get into farming,there great at delivering bull shyte

Mr K	27-11-2025 16:06

Re: Starmer’s chronicles

Quote:

Originally Posted by Sephiroth (Post 36207014)

[COLOR="Blue"]I deduce from this budget that Labour simply wants to stay in power by buying the votes of people on benefits. Hence a no-growth budget.

]

Bit like a certain party that cut NI before the last election, and we clearly couldn't afford. Either it would buy votes, or screw it up for the incoming Govt.....

They are all power mad schoolkids in the HOC. Noiser than any playgroup throwing their toys around yesterday, and chucking abuse about. Not sure its the best way to have reasonable debates or run a country.

Sephiroth

27-11-2025 16:19

Re: Starmer’s chronicles

Quote:

Originally Posted by Mr K (Post 36207035)

Truss didn't get it right. The markets needed to be taken into account. However, it was an attempt to stimulate economic growth.

By contrast, this Labour budget did nothing to assist economic growth, without which we go into a downward spiral because the so-called "rich" can't be tapped with economic failure tips them out of work.

Labour doesn't appear to understand this.

Mr K	27-11-2025 16:42

Re: Starmer’s chronicles

Quote:

Originally Posted by Sephiroth (Post 36207038)

The unaffordable NI cut wasnt Truss, it was Rishi and Jezza (H)unt. Consistent incompetence in Govt from all their various PMs. As for economic growth, did austerity acheive that?

Prescriptions frozen, rail fares frozen, energy bills cut , child poverty tackled . The freezing of tax bands is just continuing what the Tories had done. Yes the mansion owners are going to have to pay a bit more, but they arent really going to realky miss it are they? EV drivers and Landlords have had it coming for a while now ;)

Sephiroth

27-11-2025 16:56

Re: Starmer’s chronicles

Quote:

Originally Posted by Mr K (Post 36207041)

Look - it's no good only whinging about the Tories. Both they and Labour are useless; the Lib-Dems are even more useless and Reform UK is no more than a peoples' hope.

If the tax take was coordinated with economic growth policies, you could see an eventual reduction in taxation when growth takes over; but, as I said, when the so-called "rich" have been fleeced, have no more businesses, have had to sell their homes (to whom, though?) and there is insufficient tax to sustain the government service, then shit creek beckons. Labour is doing this in spades.

Sirius

27-11-2025 17:30

Re: Starmer’s chronicles

Quote:

Originally Posted by Sephiroth (Post 36207042)

if the conspiracy theory's doing the rounds are true, Rachael from accounts is building a War chest up for the budget just before the next election where they will offer everyone a bribe. I will take the bribe and still not vote for them

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