(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.

[heero_yuy]

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.

[TAZMANUK]

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.

[Gary L]

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?!

[alanbjames]

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!

[denphone]

Politicians have a habit of misleading the public before elections.

Originally Posted by alanbjames

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!

Originally Posted by denphone

Politicians have a habit of misleading the public before elections.

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.

[Ignitionnet]

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.

Originally Posted by Ignitionnet

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

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.

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As expected more benefits being cut for under 21s.

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

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Holy crap. National Living Wage will be made compulsory.

Originally Posted by Damien

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.

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

[Ignitionnet]

Originally Posted by Hugh

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

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.

[denphone]

Originally Posted by Hugh

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

Now Sir you never heard that from me.

[Gary L]

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?

[MalteseFalcon]

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

[denphone]

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.