Starmer’s chronicles

Originally Posted by Damien

Well, yes, but applies to any scenario where you're getting income above the state pension. Soon even the state pension will be taxed as the increases on it each year are going to take it above the threshold. Maybe a good to time to revisit the triple lock?

State Pension is already included in your taxable income, they just give you a K code on another of your pensions if you get over £12,750pa for your State Pension (I’m "fortunate enough" for that to happen), then the rest of your pension income gets taxed with a BR (20%) code.

Originally Posted by Hugh

State Pension is already included in your taxable income, they just give you a K code on another of your pensions if you get over £12,750pa for your State Pension (I’m "fortunate enough" for that to happen), then the rest of your pension income gets taxed with a BR (20%) code.

Yes, that's what I mean, but soon the state pension alone will go over the personal allowance. Or are you saying it already does?

Originally Posted by Damien

Soon even the state pension will be taxed as the increases on it each year are going to take it above the threshold.

A rise of 5% or more will take it over the standard personal [tax] allowance (which is still frozen until 2028).

So next year then or at a push the year after. (Can't remember if this years increase is baked in yet)

Originally Posted by Damien

Yes, that's what I mean, but soon the state pension alone will go over the personal allowance. Or are you saying it already does?

For some people who had accumulated additional State Pension, it already does - in my case, any amount over £12,750pa in the State Pension is taxed using a K code on another pension income.


https://www.which.co.uk/money/pensio...s-aBlEx9M8XXWY

After 6 April 2016, you might get more than the full level of new state pension (£230.25 in 2025-26) if you've built up a certain amount of additional state pension.

The new state pension is paid as a single amount, but part of your payment which is above the full level of new state pension of £230.25 is called your 'protected payment' and reflects the additional state pension that you've accumulated.

Protected payments increase in line with inflation, as measured by the Consumer Price Index.

[papa smurf]

Macron blames Starmer for migrant crisis - UK is 'El Dorado' where it's easy to work
French President Emmanuel Macron has called on the UK to reduce the appeal of Britain as a place to claim asylum in order to help combat illegal migration.

https://www.express.co.uk/news/polit...grant-crisisvv

[thenry]

MPs have voted to back the Football Governance Bill and establish an independent regulator to oversee the men's game in England's top five divisions.

https://www.bbc.co.uk/sport/football...s/c62gd25ydzwo

---------- Post added at 11:51 ---------- Previous post was at 11:42 ----------

The Liberal Democrats have tabled an amendment to the Football Governance Bill, which continues to make its way through parliament.

https://www.bbc.co.uk/sport/football...s/cy0wpvqwdw9o

I don't like this. Like UEFA Champions League on ITV now Amazon. The one fixture is worthless.

Originally Posted by thenry

I don't like this. Like UEFA Champions League on ITV now Amazon. The one fixture is worthless.

Not sure what you dont like, but they voted not to have 10 free premier league games per season.

[nomadking]

Originally Posted by Russ

They're not in power, but the effects of the austerity years are still felt today. Apologies if that's an inconvenient fact.

And how do you think the economy would be doing if the £157.7 BILLION deficit for 2009/10 had continued? Getting it down to £38.2bn by 2018/19.

Originally Posted by papa smurf

Macron blames Starmer for migrant crisis - UK is 'El Dorado' where it's easy to work
French President Emmanuel Macron has called on the UK to reduce the appeal of Britain as a place to claim asylum in order to help combat illegal migration.

https://www.express.co.uk/news/polit...grant-crisisvv

No, he didn’t…

What he actually said

“France and the United Kingdom have a shared responsibility to address irregular migration with humanity, solidarity and fairness. We will only arrive at a lasting and effective solution with action at the European level by addressing migration pull factors.

“But let’s be clear we will deliver together, as this is a clear issue for our countries.”

Nothing in that article, or in Macron’s speech, mentioned Starmer by name…

[OLD BOY]

Originally Posted by Russ

They're not in power, but the effects of the austerity years are still felt today. Apologies if that's an inconvenient fact.

Of course, the austerity years were necessary to enable the country to recover from the deficit created by the previous Labour government. Apologies if that is an inconvenient fact.

[thenry]

Originally Posted by Paul

Not sure what you dont like, but they voted not to have 10 free premier league games per season.

Good. It's a premium product and should be treated as such. All these hand outs need a reality check.

Originally Posted by OLD BOY

Of course, the austerity years were necessary to enable the country to recover from the deficit created by the previous Labour government. Apologies if that is an inconvenient fact.

<cough cough>

https://www.ukpublicspending.co.uk/u...ficit_analysis

In 2005 the UK “current budget deficit” was less that £20 billion. But then came the worldwide financial crisis of 2008 and subsequent recession. The budget deficit skyrocketed to £50 billion in 2009 and £103 billion in 2010. In the subsequent recovery the deficit has steadily declined, down to £1.9 billion in 2018. At the end of March 2024 the “current budget deficit” was £62.00 billion.

In terms of Gross Domestic Product the UK “current budget deficit” in 2005 was less than 2 percent of GDP, and declined to about 0.6 percent GDP in 2007 and 2008. In the Great Recession the deficit ballooned, to 6.9 percent of GDP in 2010.

The deficit as % of GDP was reducing until the gambling banks decision to blow up the World’s economies…

[Itshim]

Originally Posted by papa smurf

Macron blames Starmer for migrant crisis - UK is 'El Dorado' where it's easy to work
French President Emmanuel Macron has called on the UK to reduce the appeal of Britain as a place to claim asylum in order to help combat illegal migration.

https://www.express.co.uk/news/polit...grant-crisisvv

Been saying this for years

[1andrew1]

Originally Posted by OLD BOY

Apologies if that is an inconvenient fact.

It's not a fact so that's what you should be apologising for. If you were confident it was the case, you would evidence it.