Emergency Budget

Thoughts???

whats the basis so far - we don't have access to anything -
how bad are the public sector cuts!! Do i need that bottle of vodka for tonight

Go one what do you know we dont?

[gruntygiggles]

20% Tax from April 2011 is expected. Quite happy with it so far I suppose.

Not adding tax on alcohol, fuel, tobacco...YET!

Personally, I like what they are doing with the housing benefit. I like what they are doing with cutting benefits for those earning over £40,000....it's not ideal if you're in that bracket, but it does make it fairer.

Oooh, just said that Cider duty is being reduced.......

20% VAT!!!

Remind me who voted for them??!!!

So they've stopped projects which means that companies that depend on government projects have already started laying off people.

I'm so crossed that I can't even type properly!!

And how Labour was worse than them. At least we had a job and could pay taxes! Now with no jobs who will pay taxes?

I've not seen a lot but basically, they are freezing duty on things but VAT is increasing to 20%. They are also cutting tax for 880,000 who are classed as being on the lowest income but they are taxing higher earners more. Missed the public sector cuts...I will have a look.

[gruntygiggles]

Q - They are asking for a pay freeze for 3 years in the public sector. I think it was 3 years...might have been 2.

Public sector pensioners will be worse off £250 a year
Public sector workers will be worse off £240 a year

Royal income frozen for a few years

Government income frozen for 2 years

Originally Posted by 600+

20% VAT!!!

Remind me who voted for them??!!!

So they've stopped projects which means that companies that depend on government projects have already started laying off people.

I'm so crossed that I can't even type properly!!

And how Labour was worse than them. At least we had a job and could pay taxes! Now with no jobs who will pay taxes?

HA! If labour hadn't gotten us into this mess then they wouldn't have had to take such drastic action with the budget!

Meh.
It was all expected. It's not as bad (as of yet) for me as I expected. I work in the public sector and we have a lot of cuts coming, but are still unsure as to what exactly it means for our office and how it will directly affect us.

The increase in personal tax allowance is a bit blah because of the VAT increase obviously it's not a large help.

I personally wouldn't have minded a little more duty on cigarettes, alcohol and fuel. When I say a little I'm talking maybe 1p on fuel and cigarettes and 2-5p on booze. Purely because, look at the amount of debt. The faster you pay the debt, the less interest you pay. (And I am a smoker/drinker)

[gruntygiggles]

Originally Posted by Milky Bar Kid

I've not seen a lot but basically, they are freezing duty on things but VAT is increasing to 20%. They are also cutting tax for 880,000 who are classed as being on the lowest income but they are taxing higher earners more. Missed the public sector cuts...I will have a look.

Yep...and basic rate tax payers will gain about £170 a year.