Emergency Budget

Originally Posted by gruntygiggles

Yes Nic...I think the Lib Dems have got a lot of their way in regards to the lower income households......who are getting a good deal from this. The higher your earnings, they more you'll pay, this budget is making that clearer which is a good thing in terms of fairness.

As for businesses on the verge of collapse...bang on, this budget is supporting business. The tax cuts for businesses will directly alow them too afford to keep people on and even create jobs.

Yes, it's a hit for public sector, but private sector have been hit for a good few years now. Start with the corporate regeneration and the rest will follow.

Exactly. And to be honest, the public sector cuts aren't anything like as bad as we thought they were going to be.

I think this has been damage limitation more than anything. No matter what they did, some jobs were going to be cut but I think doing it this way, they have minimised it as much as they can.

Originally Posted by gruntygiggles

Wasn't aimed at you hun

Start quoting things then!!!

Originally Posted by gruntygiggles

Yes, it's a hit for public sector, but private sector have been hit for a good few years now..

just a shame it won't hit the right people in public sector! we knew the cuts were coming but it devastating and its frontline services.

council supported to lower council tax?? is that for scotland too?

[Biker Biggles]

There is a massive gamble going on behind this budget,and that is the private sector reinvesting in Britain plc to produce economic growth well ahead of anything most people expect.Time will tell if it happens.

[gruntygiggles]

Originally Posted by timwilky

So I need to work it out,

I will get an extra grand of tax free allowance, but they are not moving the higher rate threshold, so swings and roundabouts there for me. less 20% but more 40% tax to pay.

VAT, as a tax is strange. I like the idea of taxing expenditure rather than income. However, I fail to see how basic clothing can be considered a luxury. and strange rules about hot/cold food, dining in/out etc. cake or biscuit etc.


When the company I worked for found itself in a financial mess, we employees were forced to endure a pay freeze and restructuring to aid in the recovery. I see little difference in public sector employees having to endure similar when their employer is in financial poo

Yep, hence my earlier post. I honestly don't think the impact will be felt as badly as we thought it might. As for VAT....I know, really strange. No VAT on school uniforms for kids....so are they going to create "work ranges" for adults so we don't have to pay VAT on our work clothes? It's nt like work is a luxury is it

Originally Posted by Quedos

just a shame it won't hit the right people in public sector! we knew the cuts were coming but it devastating and its frontline services.

council supported to lower council tax?? is that for scotland too?

Hmmm, I'm waiting on this one! I think we might be pleasantly surprised as much has been done in this budget to create fairness.

love the BBC website quote, bloke ranting about cutting the housing benifit to £400 "that will make thousands homeless" no you idiot its being capped at a £400 per week!

[gruntygiggles]

Originally Posted by 454697819

love the BBC website quote, bloke ranting about cutting the housing benifit to £400 "that will make thousands homeless" no you idiot its being capped at a £400 per week!

Haha, I have to say, I loved what was said about this. At present, thanks to Labour, there are families getting £107,000 a year in housing benefit. This IS being scrapped.

The cap is there and will be means tested, as with all the benefits now to ensure that families are only placed in appropriately sized houses and I think the cap is more than generous. It means a family needing a 4 bed house couls almost afford a house like ours when they could easily get a 4 bed for half of that money.

It's not exactly going to have people living in poverty!

Originally Posted by gruntygiggles

Haha, I have to say, I loved what was said about this. At present, thanks to Labour, there are families getting £107,000 a year in housing benefit. This IS being scrapped.

The cap is there and will be means tested, as with all the benefits now to ensure that families are only placed in appropriately sized houses and I think the cap is more than generous. It means a family needing a 4 bed house couls almost afford a house like ours when they could easily get a 4 bed for half of that money.

It's not exactly going to have people living in poverty!

WTF¬!!! £107,000 a year....thats like 4 x my wage!!

[Drew Carey]

Originally Posted by Biker Biggles

There is a massive gamble going on behind this budget,and that is the private sector reinvesting in Britain plc to produce economic growth well ahead of anything most people expect.Time will tell if it happens.

This is a very good point about this budget, in that labour were very much relying on EVERYONE spending more and getting the whole economy to improove. However, as has been seen accross Europe, this simply won't work in the current climate.......hence the need to do what the Concrats have done.

600+ - I know it seems worse, but probably would have been exactly what labour would have done in the long run anyway. Many European countries who were also happy to try the "spend our way out of debt" approach, which is easier for Joe Bloggs.....have now found it not to be sustainable. Hemce why this budget seems harsh, but is needed.

There is only one way to pay of debt in the long run, pay it back. I actually think this budget is one of the best in years. It effects everyone.....so rather than a few wealthy etc being better off, everyone will feel cuts. Plus, even though I work in Finance, the increase in CGT and the Banking Levy are long overdue.

[gruntygiggles]

Yep...there was a bit of heckling towards labour when that was said...lol. Not Labours finest moment! I think he said how many peoples income tax it took to equal that, but I don't remember the number. He just said that it was totally unacceptable and would not continue.

[gruntygiggles]

Originally Posted by Biker Biggles

There is a massive gamble going on behind this budget,and that is the private sector reinvesting in Britain plc to produce economic growth well ahead of anything most people expect.Time will tell if it happens.

Yep. I have a good feeling about it though. I think that enough lessons have been learned lately to put the fear of god into the corporate world. Can't all be about number 1 anymore.