Budget 2011: Government 'due £8bn windfall'

http://www.bbc.co.uk/news/business-12800725

The government appears to be gaining control of the public finances and could benefit from an £8bn windfall this year due to higher tax revenue and lower spending, a report suggests.
The Ernst & Young Item Club forecast public borrowing for the year to the end of March to be lower than expected.
But it argued that the government should not water down its planned spending cuts.
It also said risks to the economic recovery had grown in recent months.

Lets hope the present crisis in Libya resulting in higher oil prices don't have a detrimental effect but all we can do is play a waiting game for the next 3/4 years.

[Chrysalis]

got to love how obvious this guy is one sided.

it would be a huge mistake to water down cuts.

but not a problem to scrap tax increases.

doing either would increase deficit, but he talks as if one is disastrous and the other is fine.

[Hom3r]

Any bets fuel duty gets frozen, rather than dropped.

If it ain't dropped, the recovery will be slower.

shame that 8 billion will end up wasted in Libya ( or a good protion of it every time a fighter takes to the air or a missile is launched)

This whole cuts and Vat increase thing is a total waste of time El Gov will just blow it all somewhere else instead of paying debts

[Chrysalis]

yeah, funny how there is always money for invading other countries.

[Hom3r]

I think if spirits are going up I will buy some bottles of vodka today.

[pabscars]

Originally Posted by Hom3r

I think if spirits are going up I will buy some bottles of vodka today.

May as well fill your fuel tank full of the stuff, at the rate fuel's increasing; it's gonna be cheaper to run your car on alcohol.

I can see fuel duty being frozen, as if that actually helps given it's gone up a chunk already AGAIN.


Rant on
I just hope they don't try to wring the last drop out of an already bone dry mop.

I wonder who else we can drop bombs on in order to hike the price of fuel up
Rant off

[Hom3r]

Originally Posted by heero_yuy

Yep, if the medical lot have their way at 50p a unit a bottle of voddy's going to cost £14 minimum. Won't affect the price of beer on Friday night so the binge drinkers will not be affected, they'll still be falling over in town centre's. Just punish the pensioners who's brandy tipple gets doubled in price.

£14, I spend £20+ (mind you it is 45 proof)

Sadly the price of oil went up before we were dropping bombs because of the unrest in several middle east despotic countries and nothing to do with our government's efforts at all.

Just watching PMQs - Some points about the budget raised - However, this was pointed out by a Tory MP and I sit beside myself with disbelief that this was allowed to continue under the last useless Labour Government. It cost £330+ to change a light bulb in an NHS hospital, is it any wonder why we are scraping the barrel and having to look at spending cuts when Labour couldn't have given a bloody crap about value for money. What a waste and what a farce the last Labour Government was.

[Hom3r]

OMFG, alcohol tax frozen.

Fuel duty cut by 1p (garages near me raised it last week by 1p) so I'll fill up tomorrow.

[Gary L]

You'll probably find many garages will increase the price now and reduce it by 1p later today.

the average car holds 55 litres. that will be 55p you'll be saving

Just a quick summary of some of the things announced in today's budget:-

• Corp. Tax cut by 2% from April and further 1% per year for 3 years.
• Income Tax and National Insurance to merge but could take years.
• Labour's planned increase in Fuel duty cancelled. 1p Cut in Fuel duty from 6pm tonight. Fuel Stabilizer to be put in to place.
• Business Milage rates from 40p to 45p.
• Air Passenger duty rise delayed until next year.
• Council Tax Frozen in every England Council.
• New Private Jet Tax Budget Introduced.
• Personal Tax allowances increased this year by £1,000 to raise to £8,105 in 2012.
• 50p Tax rate for highest earners a temporary measure. Osborne wants to see if it actually raises enough for the coffers.
• £100 Million to Fix Britains Roads and pot holes.

[danielf]

Originally Posted by Mick

Just a quick summary of some of things announced in today's budget:-
[*]£100 Million to Fix Britains Roads and pot holes.

They'll need that just for my street...

Originally Posted by Gary L

You'll probably find many garages will increase the price now and reduce it by 1p later today.

the average car holds 55 litres. that will be 55p you'll be saving

My local garage dropped the price by 4p a litre last week.