(Emergency) Budget 2015
 

The second budget of the year today. Rumours are that Osbourne will raise the threshold at which the 40p tax is collected, will slow the rate of welfare cuts, reduce the tax relief on pensions and raise the amount at which you begin to pay inheritance tax.

Re: (Emergency) Budget 2015
 

I'd like to see moves to combine NI with income tax. Running two separate, effectively income tax systems, that both channel funds into the treasuries maw is very wasteful. I expect to see NI thresholds harmonised with income tax and the removal of the NI ceiling as a first move.

This would also benefit the lowest paid because they often don't pay income tax but they still get stung with NI.

Re: (Emergency) Budget 2015
 

For starters, abolish the BBC licence fee, let them start having adverts to churn revenue and product placement.

Secondly abolish child benefit for children that do not live in this country and any other benefits that are given to people outside the UK apart from state pensions.

Don't allow MPs fuel allowance or allow them to travel in style, let's face it does anyone employed working at a bank or hospitals get an allowance to travel to work, no, come out if our wages.

Scrap these hidden allowances like decorators allowance for residents to get vouchers for paint etc, I've to buy my own paint like rest of us.

Hidden clothes allowance for unemployed, heard if they ask get money back for buying suitable shirts, trousers and shoes...why???

Cap free school meals to two children per family as well as child benefit, child tax credit and working tax credits.

Those getting, tax credits, housing benefit, council tax benefit, free school meals, child benefit, JSA should have to contribute to NHS prescriptions at least halve.

Or do away with prescription charges since Scotland, Wales don't, or to save the NHS make them countries start paying again.

Those with serious illnesses like cancer, heart, etc should be not have to pay without saying.

Loads of savings.

Re: (Emergency) Budget 2015
 

Take some money off pensioners.

problem sorted.

---------- Post added at 10:56 ---------- Previous post was at 10:45 ----------

Sky News have on the screen

1,492,788,140,123 - TOTAL GOVT DEBT
and it's going up in thousands of pounds as you watch it.

what a load of rubbish!
how the hell would they know to add another £547 in real time?!

Re: (Emergency) Budget 2015
 

Strange its an "Emergency" budget just after they win an election to bring in those ideas they didnt want to mention before the election incase people would have voted the other way!

Re: (Emergency) Budget 2015
 

Politicians have a habit of misleading the public before elections.

Re: (Emergency) Budget 2015
 

I think it's a good idea. What's the point on wasting a year on what was a previous administrations budget? I would make this a convention and the April budget before the election a bare-bones affair to keep the basics running for a couple of months.

Re: (Emergency) Budget 2015
 

I am profoundly relieved that they are slowing the pace of deficit reduction. It was unnecessarily fast and I imagine they realised this.

Should ease pain considerably not having hugely front-loaded austerity.

No year seeing cuts as deep as those in 2011-12 and 2012-13.

EDIT: Excellent move regarding non-dom status. Fair and appropriate.

Bank levy changes also spot on.

More regional devolution - excellent.

Removal of higher rate relief on buy-to-let interest payments. That's a bit of a surprise.

Re: (Emergency) Budget 2015
 

It doesn't apply to over 65s (maybe).

They're getting rid of the pension relief on contribution and moving it to receipt? Aghhhh. Depending how they do this would that mean the current generation of pensioners got the relief when they put it in and when they take it out? They'll have to parse this in surely.

---------- Post added at 13:22 ---------- Previous post was at 13:15 ----------

As expected more benefits being cut for under 21s.

---------- Post added at 13:31 ---------- Previous post was at 13:22 ----------

Not bad so far but is there no moving of the 40p rate?

---------- Post added at 13:38 ---------- Previous post was at 13:31 ----------

Holy crap. National Living Wage will be made compulsory.

Re: (Emergency) Budget 2015
 

But, but, but - baby-eating heartless Tories! ;)

Re: (Emergency) Budget 2015
 

A very interesting budget indeed. An awful lot of tax rises in there alongside cuts.

The answer to the question of how they were planning to execute the level of cuts has been answered - they aren't.

Spending over £80 billion more over the course of the parliament than mooted back in March.

Re: (Emergency) Budget 2015
 

Now Sir you never heard that from me.:D

Re: (Emergency) Budget 2015
 

How will the 'no housing benefit to 18-21' year olds work?
how does it affect say an 18 year old living in a house now?

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Something that has gone un noticed: those on benefits other than disability ones or pensions have their benefit rates frozen for 4 years.

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Well even though l am not a Conservative l am reasonably happy that we have escaped the planned cuts so far and todays budget for us ain't as bad as we feared beforehand.

Re: (Emergency) Budget 2015
 

He's doing you lot next week :)

Re: (Emergency) Budget 2015
 

i bet Arthur has some unsavory words to say about it :)

Re: (Emergency) Budget 2015
 

:D

---------- Post added at 17:19 ---------- Previous post was at 17:18 ----------

Arthur good old boy he is has been very quite lately.:)

Re: (Emergency) Budget 2015
 

Whatever they are I imagine they'll include 'Boris' somewhere along the line... :D

Re: (Emergency) Budget 2015
 

and cyclists :D

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and yet another job he's done in the past... :D

Re: (Emergency) Budget 2015
 

brilliant move ,I wanted the minimum wage scrapped as soon as Labour introduced it ,it just encouraged a race to the bottom

---------- Post added at 17:47 ---------- Previous post was at 17:46 ----------

I wonder what it'll be today :D

Re: (Emergency) Budget 2015
 

Brain donor? :D

Re: (Emergency) Budget 2015
 

Quite a few promises broken by this budget, even going against their election manifesto. :(

Tax credits earning limit slashed, 2 kids only to qualify. That will sting some of the fast-breeding couples.

ESA claimants in the Work group to get a massive drop in income down to dole levels.

Parents with the youngest child at 2 years old to "prepare for work", and when the youngest hits 3 years old they have to be "actively seeking employment".

Flat rate Car Tax after the first year. £140.

Tax on insurances to rise from 6% to 9.5%.

Re: (Emergency) Budget 2015
 

Well, well, well. All the cry babies seem to have got it all wrong and we're even seeing turncoats extolling the virtues of the Tories.

Notice the ideas now being hailed by last week's detractors. Hilarious :D.

Re: (Emergency) Budget 2015
 

This man ain't for turning as l will criticise and praise in equal measure no matter who is in power Sir.:)

Re: (Emergency) Budget 2015
 

Yep, and old Cleggie had all the answers too...right up to the point that he found himself in Government. It's easy to criticise; less easy to achieve.

Re: (Emergency) Budget 2015
 

He was in government??
I thought he was the cabinet tea boy :confused:

Re: (Emergency) Budget 2015
 

Indeed. This wasn't exactly 'good' but it was way better than the past few months of rhetoric have lead us to believe.

I believe grown ups are happy to change their minds when proven wrong, children are intractable.

I have been proven wrong and am delighted to have been so proven. The budget was far more moderate than had been anticipated and much of it was quite centrist.

Re: (Emergency) Budget 2015
 

I may be wrong but I understand this only to apply to new cars, along with Zero & 'Premium' bands, older cars will be taxed as they are at the moment.

Shame I could have halved my tax if it was retrospective.

Re: (Emergency) Budget 2015
 

mine is £490 per year or £269.50 per 6 months i hate road tax its so unfair

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Well, mine is £20 per annum, and if it goes up to £140, so be it...

Re: (Emergency) Budget 2015
 

I know a good loan shark if you need one.

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what do you drive a sewing machine ;)

Re: (Emergency) Budget 2015
 

My neighbour pays the same on her "girly car" as she calls it :)

Re: (Emergency) Budget 2015
 

It would be interesting to see what happened to various wages after it's introduction. I am generally a fan of it as although theoretically the market should correct low pay I think there are limits to that system and there will be a minority of employers that would exploit someone's situation to pay them much less than they should. We see that now with employers employing immigrants that work below minimum wage undermining the salaries of the rest.

Back to this issue though and it is a bit misleading. It does seem that the cut in tax credits does mean that the actual benefit of this to the workers' take home pay may well be limited. However even this would now mean that the Government isn't subsidising low pay and that those workers, combined with the rising of the personal allowance, are seeing their work as the source for that income rather than some of it coming from Government. This makes more sense.

I am surprised there isn't more mention of the Pension-ISA thing. That could lead to a massive change. Removing the tax relief from contributions and to receipt seems a massive loss for savers. The benefit of the current system is that we have a bigger pot from which to see gains in interest. The Government also gets a bigger cut as a result as they do get their 20% back plus 20% of the growth too! (simplistically speaking).

Why change that?

Re: (Emergency) Budget 2015
 

It should stay the same just like Osem Jnr's @ £30.

The end of free or very low VED for efficient vehicles had to come sooner or later. I don't suppose that'll make much difference to sales.

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Wage levels have consistently risen over the last 25yrs according to the ONS ,I think the question is how fast would they have risen without the NMW ,I really do think that wage levels ,particularly in the service areas have been kept artificially low ,but that is just my opinion as I don't have any figures to back it up .An example would be my wifes wage ,she works in a supermarket on checkout and the floor and the only wage rise she ever gets is when the NMW goes up ,the company have never given their own rise instead relying on the government to instigate a rise at the absolute minimum needed

Re: (Emergency) Budget 2015
 

Yep, you're right :D:
https://www.cableforum.co.uk/images/...2015/07/33.jpg

Re: (Emergency) Budget 2015
 

Focus Estate EcoTec

Re: (Emergency) Budget 2015
 

I can't stand 99.9% of politicians so it's always fun to point out when they screw up, especially when it's an attempt come across as 'normal people' and George Osbourne loves to botch opportunities to be seen as an 'ordinary bloke'. Nice to see he refused to fail again yesterday... http://www.mirror.co.uk/news/uk-news...george-6024686

Re: (Emergency) Budget 2015
 

How many stitches does it do? ;)

Re: (Emergency) Budget 2015
 

Would the current Minimum Wage have been likely to have risen to this 'Living Wage' value anyway in the time scale that is being talked about?

Re: (Emergency) Budget 2015
 

That'd depend on how well (or not) the economy does I'd have thought - plenty of uncertain times ahead methinks...

Re: (Emergency) Budget 2015
 

I'm all for the wage increase. although what bothers me is I am on just over £9 per hour with the crappy 1% pay increase I am expected to get over the next 4 years.

So someone who has left school never got far in life and can walk into a job any job and be on £9 per hour.

While we all have our places I consider my job to be worth more than say someone serving me coffee in a cafe or stacking shelves in the local Asda which is a kick in the teeth that they will be pretty much on the same wage as me and I have to take into account my job role and what I have to do in it to earn that £9 per hour

Re: (Emergency) Budget 2015
 

Most people do too.

:tu:

Re: (Emergency) Budget 2015
 

When the young aren't griping about the money the old people get, they're griping about the money that young people are to get :rolleyes:.

Re: (Emergency) Budget 2015
 

The living wage of nine pounds is for over 25's not school leavers

---------- Post added at 04:16 ---------- Previous post was at 04:15 ----------

No it would have been about 7 pound fifty odd at the end of this parliament if the rises had been in line with other recent ones

Re: (Emergency) Budget 2015
 

I think there is an obvious inequality to the benefits and cuts experienced by the under 25s compared to the over 65s.

Re: (Emergency) Budget 2015
 

It is true that younger people will need to adjust; that's because tomorrow is their future and that needs to be planned for now.

The future of the elderly is considerably shorter so a shorter term plan is possible.

Re: (Emergency) Budget 2015
 

Came across this a few days ago: http://www.theguardian.com/commentis...ment-inflation

If this article's claims are true then this dwarfs the benefit cuts in this Emergency Budget? Strange no one made as big a fuss over this if this is correct .. or did they?

Re: (Emergency) Budget 2015
 

The RPI change to CPI took place very soon after the crash. An already pummelled public sector accepted it as an inevitability although even Dick Turpin had the decency to wear a mask.

Re: (Emergency) Budget 2015
 

Strange this concept that somehow public sector bares the brunt in recent years:

http://www.cableforum.co.uk/board/at...8&d=1436520748

When the data clearly shows public sector pay outstripping the private sector during the recession and has stayed ahead.

IFS report

Attachment 26238

Re: (Emergency) Budget 2015
 

As far as I know, public sector pay has been frozen for several years and will be limited to 1% increase for the next four; that seems like a pummelling to me. If the private sector can't do better than that, maybe they need to up their game. It's a bit oranges and lemons anyway since ianch99's post refers specifically to the way public sector pensions etc are calculated, not pay performance.

Re: (Emergency) Budget 2015
 

Following an emergency Budget on 22 June 2010 the Government switched the basis for uprating of Public Sector Pensions uprating to the Consumer Price Index (CPI) instead of being based on the RPI – the CPI was expected to be around 0.8-1.5% lower in each of the following five years than that predicted for the RPI.

This change was implemented from 4th April 2011 and effected the civil service and police, also the armed forces, the NHS and local government, as well as a number of state benefits that were also previously adjusted in line with RPI. It is also had an impact on the basic state pension from April 2012.

Re: (Emergency) Budget 2015
 

£9 per hour for the living wage is a joke.

I worked my nuts off to get a skill and get paid £11.50ph, and some unskilled talentless waste of air whose is only working because he has to, will be better of than me after benefits which they will no doubt be able to claim.

I cannot afford any rent in my town let along think a mortgage.

So I have to live at home, and as such my parents who are both retired can't claim anything as I live at home.

Re: (Emergency) Budget 2015
 

Harsh, bitter and pretty cynical post that one.

You should be aware that the median hourly income for men was £12.50 per hour in 2008. It sounds like you should be feeling more aggrieved that you are underpaid for your skill than that other people may be overpaid.

Would you rather we as taxpayers subsidise inadequate wages through tax credits?

Sorry about your situation but poverty wages and a race to the bottom benefit no-one.

Re: (Emergency) Budget 2015
 

I reckon if you leave they'd have to up the wage to offset the new minimum wage but I doubt they'll pay up it you stay. That goes for most jobs.

So probably there might be a lot of people moving jobs for a better rate of pay for the same job they are doing now.

Also when inflation changes and interests rates go up because of this budget your £11.50 will look even worse. (Probable).

Re: (Emergency) Budget 2015
 

You earn £11.50 per hour and live at home, I have a member of staff who earns £6.77 per hour and rents his own flat !!!!! Where about are you!!!

Re: (Emergency) Budget 2015
 

Moonbase Harlow

Re: (Emergency) Budget 2015
 

I cannot even begin to express how happy I am to have moved to Yorkshire, and a 4 bedroom house where the mortgage is half what I was paying in rent for a 2 bed flat.

Hom3r - I honestly think your anger would be better directed at the absurd housing costs in your area alongside the level of your own wage, not that the minimum/living wage might be 80% of yours.

Re: (Emergency) Budget 2015
 

Our mortgage is half that of the rent we were paying. It leaves us in a better position to swallow any increases in other costs.
We have also halved our gas/electric costs since daughter and boyfriend moved out (£80pm)

Re: (Emergency) Budget 2015
 

Only halved??!!! ;)

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Re: (Emergency) Budget 2015
 

put arthur on suicide watch :)

Re: (Emergency) Budget 2015
 

Seems Harriet is speaking out of turn:

Full story link

Nothing like watching ferrets fighting in a sack.:D