|
|
Post by Red Rackham on Nov 17, 2022 14:16:32 GMT
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  |
|
|
|
Post by Steve on Nov 17, 2022 14:17:57 GMT
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. I think HS2 has gone beyond the point of no return (from cancelling it) With the decline in work from home, meetings by Zoom and the increasingly looming impracticality of making long journeys by own car, it may still make sense |
|
|
|
Post by Steve on Nov 17, 2022 14:19:56 GMT
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 Seems to disprove your " UK old age pensions are among the lowest in Europe." |
|
|
|
Post by wapentake on Nov 17, 2022 14:24:04 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. Had to do it,the decline in numbers paying meant they had to cough up,it was only ever a short term bribe. |
|
|
|
Post by borchester on Nov 17, 2022 14:31:08 GMT
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 I contribute nothing and see myself as a major burden on the state in general and the NHS in particular, so if the government wants to pay me for staying alive that is fine by me.
But Hunt is such a dreary little sod that I find it hard to warm to him, although I will happily accept his largess
|
|
|
|
Post by Red Rackham on Nov 17, 2022 14:34:24 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. Had to do it,the decline in numbers paying meant they had to cough up,it was only ever a short term bribe. Quite right too. Electric smug mobiles cause more damage to the road surface due to their weight. Trucks pay road tax or VED depending on their weight, cars should be the same. |
|
|
|
Post by Toreador on Nov 17, 2022 15:00:01 GMT
Had to do it,the decline in numbers paying meant they had to cough up,it was only ever a short term bribe. Quite right too. Electric smug mobiles cause more damage to the road surface due to their weight. Trucks pay road tax or VED depending on their weight, cars should be the same. And extra for overweight humans. |
|
|
|
Post by dappy on Nov 17, 2022 15:22:40 GMT
Not sure if the detail is out yet.
Currently VED is levied based on emissions. The lowest emitting cars are free (including mine I am glad to say).
It does seem odd that this should continue but electric vehicles be taxed ??.
|
|
|
|
Post by totheleft3 on Nov 17, 2022 16:15:57 GMT
Budget slamed as office for budget responsibility says living standards will fall by 7%
|
|
|
|
Post by Pacifico on Nov 17, 2022 17:23:54 GMT
I watched a bit of it and thought Gordon Brown had become Chancellor again - a good Labour budget but nothing for a conservative.
If he had cut international aid, Net Zero, & HS2, in just these three areas alone £200 billion+ could be immediately saved. Then there would be no need for tax rises, no need for other cuts, & room to grow.
But as a result of Hunts bungling we are looking at Real Household Disposable Income per person to fall more than 7% over next two years - with business taxes now higher than France and spending out of control in the NHS, I dont see much room for improvement over the next few years.
|
|
|
|
Post by sheepy on Nov 17, 2022 18:48:49 GMT
I watched a bit of it and thought Gordon Brown had become Chancellor again - a good Labour budget but nothing for a conservative. If he had cut international aid, Net Zero, & HS2, in just these three areas alone £200 billion+ could be immediately saved. Then there would be no need for tax rises, no need for other cuts, & room to grow. But as a result of Hunts bungling we are looking at Real Household Disposable Income per person to fall more than 7% over next two years - with business taxes now higher than France and spending out of control in the NHS, I dont see much room for improvement over the next few years. Anybody might think you voted for Austerity, lol. |
|
|
|
Post by see2 on Nov 18, 2022 0:02:33 GMT
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 One question I would like answered is. Is the increase in pensions paid on the different levels of state pension individually received, or is it paid on the very basic state pension before NI contributions that raise state pensions are included? |
|
|
|
Post by Toreador on Nov 18, 2022 7:17:56 GMT
One question I would like answered is. Is the increase in pensions paid on the different levels of state pension individually received, or is it paid on the very basic state pension before NI contributions that raise state pensions are included? I don't know the answer to that but the best way to find out (or not) is to phone the government department. Don't hold out any great hope of getting a straight yes or no. As an example, twenty years ago when my state pension was triggered I asked the pensions department whether state pensions were taxable to which they replied no; I reminded them they were wrong since state pensions were added to other income which was taxed when it rose above the threshold. |
|
|
|
Post by Steve on Nov 18, 2022 10:39:41 GMT
. . . The markets don't seem to have liked it much. FTSE and the £ down Well overnight they seem to have reversed those falls  |
|
|
|
Post by andrewbrown on Nov 18, 2022 13:40:26 GMT
To be honest they barely moved yesterday, howevering either side.
This morning the ftse is up 1%,in line with France and Germany.
My supposition is that we already knew what was going to be announced, so that was already factored in, hence the stability.
Totally the opposite of the Truss Kwarteng budget which came out of the blue and surprised the markets.
|
|
