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Post by Red Rackham on Nov 17, 2022 12:53:08 GMT
Anyone listen to it? Jeremy Hunt has said he wants “those who have more to contribute more” as he unveils plans for all Britons to pay more tax. The 45 per cent top-rate of tax, which Liz Truss and Kwasi Kwarteng tried to abolish less than two months ago, will now kick in at income of £125,000 rather than £150,000. The allowances and thresholds for income tax, national insurance and inheritance tax will be frozen until April 2028, two years longer than previously planned. This means that many more Britons will be dragged across thresholds into paying more of these taxes because of the effects of inflation. www.thetimes.co.uk/article/autumn-statement-2022-jeremy-hunt-tax-rishi-sunak-latest-news-9d8gbsl0pIt could have been worse, I was expecting worse. I see the chancellor has decided HS2 will continue which is bad news, and electric cars will pay road tax lol. Virtue mobiles get more expensive by the day. I have every confidence the BBC will report this statement in very sombre tones. |
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Post by totheleft3 on Nov 17, 2022 13:02:48 GMT
The 45 per cent top-rate of tax, which Liz Truss and Kwasi Kwarteng tried to abolish less than two months ago, will now kick in at income of £125,000 rather than £150,000.
Thats a positive sign any mention on the tripple lock pensions
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Post by Red Rackham on Nov 17, 2022 13:06:00 GMT
The 45 per cent top-rate of tax, which Liz Truss and Kwasi Kwarteng tried to abolish less than two months ago, will now kick in at income of £125,000 rather than £150,000. Thats a positive sign any mention on the tripple lock pensions Yes indeed TTL, the chancellor announced that the triple lock on pensions will be retained. |
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Post by Handyman on Nov 17, 2022 13:10:21 GMT
Which pleases me and the wife
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Post by Red Rackham on Nov 17, 2022 13:37:51 GMT
Which pleases me and the wife 10.1% increase next April Handyman. A welcome boost for pensioners, perhaps the retention of the triple lock will in some small way address the fact that UK old age pensions are among the lowest in Europe. |
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Post by Steve on Nov 17, 2022 13:42:00 GMT
Which pleases me and the wife 10.1% increase next April Handyman. A welcome boost for pensioners, perhaps the retention of the triple lock will in some small way address the fact that UK old age pensions are among the lowest in Europe. Not that fallacy again  Best a separate thread |
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Post by Handyman on Nov 17, 2022 13:45:55 GMT
Which pleases me and the wife 10.1% increase next April Handyman. A welcome boost for pensioners, perhaps the retention of the triple lock will in some small way address the fact that UK old age pensions are among the lowest in Europe. Yes, it will I paid for my State Pension for 50 years wife over 40 years and missed out on getting her state pension at 60 by a few months she had to wait and contribute for another 6 years, good job I have another better pension I paid into as well, as did the wife |
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Post by Steve on Nov 17, 2022 13:47:36 GMT
Anyone listen to it? Jeremy Hunt has said he wants “those who have more to contribute more” as he unveils plans for all Britons to pay more tax. The 45 per cent top-rate of tax, which Liz Truss and Kwasi Kwarteng tried to abolish less than two months ago, will now kick in at income of £125,000 rather than £150,000. The allowances and thresholds for income tax, national insurance and inheritance tax will be frozen until April 2028, two years longer than previously planned. This means that many more Britons will be dragged across thresholds into paying more of these taxes because of the effects of inflation. www.thetimes.co.uk/article/autumn-statement-2022-jeremy-hunt-tax-rishi-sunak-latest-news-9d8gbsl0pIt could have been worse, I was expecting worse. I see the chancellor has decided HS2 will continue which is bad news, and electric cars will pay road tax lol. Virtue mobiles get more expensive by the day. I have every confidence the BBC will report this statement in very sombre tones. He delivered it well and Reeves reply was fairly abysmal but the substance was interesting. He's promised to tax more those who have more and very much not done that at all. He's gone for those that earn more so protecting the wealthy and of course no action on non doms. And then he goes for the very windfall tax Labour have been advocating The markets don't seem to have liked it much. FTSE and the £ down |
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Post by totheleft3 on Nov 17, 2022 13:48:33 GMT
The 45 m6ch per cent top-rate of tax, which Liz Truss and Kwasi Kwarteng tried to abolish less than two months ago, will now kick in at income of £125,000 rather than £150,000. Thats a positive sign any mention on the tripple lock pensions Yes indeed TTL, the chancellor announced that the triple lock on pensions will be retained. So the triple lock scheme will bewith hold whiel the hard woorking man has to pick up the tab . so much for were all init together |
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Post by borchester on Nov 17, 2022 13:56:50 GMT
Which pleases me and the wife 10.1% increase next April Handyman. A welcome boost for pensioners, perhaps the retention of the triple lock will in some small way address the fact that UK old age pensions are among the lowest in Europe. Except it ain't.
The state pension will technically increase by 10%, but the freezing of the tax threshold means that in the majority of cases the rise will be only 7%.
Better than a kick in the wedding tackle, but not quite the increase Berkeley announced.
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Post by Red Rackham on Nov 17, 2022 14:03:48 GMT
10.1% increase next April Handyman. A welcome boost for pensioners, perhaps the retention of the triple lock will in some small way address the fact that UK old age pensions are among the lowest in Europe. Not that fallacy again Best a separate thread Fallacy? What fallacy? |
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Post by Handyman on Nov 17, 2022 14:09:33 GMT
10.1% increase next April Handyman. A welcome boost for pensioners, perhaps the retention of the triple lock will in some small way address the fact that UK old age pensions are among the lowest in Europe. Except it ain't.
The state pension will technically increase by 10%, but the freezing of the tax threshold means that in the majority of cases the rise will be only 7%.
Better than a kick in the wedding tackle, but not quite the increase Berkeley announced.
I am still happy, but in these turbulent times it is most welcome |
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Post by Steve on Nov 17, 2022 14:09:42 GMT
Not that fallacy again Best a separate thread Fallacy? What fallacy? That supposedly we have lower pensions. It's always at best a misguided and often plain dishonest tactic to compare our massively subsidised state pension with those of countries like Germany where the private pensions are nationalised Compare state + private pensions with those and you get a whole different picture. But as I said, best a separate thread. |
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Post by Red Rackham on Nov 17, 2022 14:12:01 GMT
Anyone listen to it? Jeremy Hunt has said he wants “those who have more to contribute more” as he unveils plans for all Britons to pay more tax. The 45 per cent top-rate of tax, which Liz Truss and Kwasi Kwarteng tried to abolish less than two months ago, will now kick in at income of £125,000 rather than £150,000. The allowances and thresholds for income tax, national insurance and inheritance tax will be frozen until April 2028, two years longer than previously planned. This means that many more Britons will be dragged across thresholds into paying more of these taxes because of the effects of inflation. www.thetimes.co.uk/article/autumn-statement-2022-jeremy-hunt-tax-rishi-sunak-latest-news-9d8gbsl0pIt could have been worse, I was expecting worse. I see the chancellor has decided HS2 will continue which is bad news, and electric cars will pay road tax lol. Virtue mobiles get more expensive by the day. I have every confidence the BBC will report this statement in very sombre tones. He delivered it well and Reeves reply was fairly abysmal but the substance was interesting. He's promised to tax more those who have more and very much not done that at all. He's gone for those that earn more so protecting the wealthy and of course no action on non doms. And then he goes for the very windfall tax Labour have been advocating The markets don't seem to have liked it much. FTSE and the £ down On the whole I thought it was, OK. I was expecting worse that's for sure. I'm pleased he hasn't increased the foreign aid budget and committed to more nuclear power. I'm disappointed he reaffirmed the governments drive towards net-zero and didn't take the opportunity to bin HS2. Pressure from vested interests I suppose. |
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Post by Steve on Nov 17, 2022 14:14:48 GMT
So back on topic worth reading the accompanying OBR statementPredictions included borrowing will be high for years and only below 3% of GDP by 2027 so our debt will just keep on going up and up. Unemployment to be near 5% by Q3 2024 which won't be a great sell for the Tories for the General Election that has to be on or before December 2024. |
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