So, first Labour budget in a generation. We already know a few of the things RR will put into practice, not least because she's been letting cats out of bags for the last few weeks, much to the Speaker's irritation: https://news.sky.com/story/get-your-act ... t-13243564
Watcha hoping for and what are you nervous about? Capital Gain Tax is certainly in the firing line, as is Inheritance Tax. Tax thresholds may well be frozen, all but a tax rise in name.
Fags and booze...well that's a given. Can't be enjoying ourselves, can we?
I think whatever happens, it'll certainly be a case of 'The Taxman Cometh'.
I hope the minimum wage does goes up by at least 6%, it'd be mighty tempting to jack it all in, give up all the stress, and become a door greater or trolley wally at Tesco.
Either way I'm sure they'll be picking a few extra quid out of my pocket that I'd rather keep for myself, the same as every budget regardless of government since I began paying taxes way back when
Pension tax free allowance will be hammered, CGT threshold lowered / % raised.
NI going up
All to subsidize public sector workers, their pensions, ( whilst they will be excluded from the rises), and pay the train drivers more.
Re the 20 Bn black hole - has it actually been audited? And how much did furlough cost.
It would be good to see a time limit on benefits to get the economically inactive back to work. 2 years would be a good time frame.
Not having an electric car I would like to see road fund increasing on these - the damage the extra weigh is doing is impressive.
A mega tax on water companies who continue to pollute. 25% of earnings would be good
And there still needs to be some sort of recouping on the windfall the energy companies are making - we pay the highest costs in Europe (so EDF can subsidise the French) - get it sorted
Taxing vaping as per cigarettes - it is going to cause a huge health issue in the future.
Road fund licence for e-scooters and twist grip e-bikes
Mr Moofo wrote: ↑Wed Oct 30, 2024 9:23 am
Pension tax free allowance will be hammered, CGT threshold lowered / % raised.
NI going up
All to subsidize public sector workers, their pensions, ( whilst they will be excluded from the rises), and pay the train drivers more.
Re the 20 Bn black hole - has it actually been audited? And how much did furlough cost.
It would be good to see a time limit on benefits to get the economically inactive back to work. 2 years would be a good time frame.
Not having an electric car I would like to see road fund increasing on these - the damage the extra weigh is doing is impressive.
A mega tax on water companies who continue to pollute. 25% of earnings would be good
And there still needs to be some sort of recouping on the windfall the energy companies are making - we pay the highest costs in Europe (so EDF can subsidise the French) - get it sorted
Taxing vaping as per cigarettes - it is going to cause a huge health issue in the future.
Road fund licence for e-scooters and twist grip e-bikes
I gather the 20Bn black hole is a projection of the next year and includes Labour's extra spending plans, I don't think they want people looking too closely.
Mr Moofo wrote: ↑Wed Oct 30, 2024 9:23 am
Road fund
Was abolished in the 1937 mainly to prevent drivers from thinking they own the road, sadly it hasn't worked. Vehicle tax has never had anything to do with fixing roads, it's always gone into the same same tax pot as every other tax.
Maybe a swap from an emissions based tax to a weight based tax might be better?
I'm really hoping they don't do away with the single occupancy council tax discounts, but if they don't today, I suspect it will come in at some point.
Labour seem to be ballsy enough when it comes to the elderly, but will they have the spuds to change the business rates in an attempt to save the high st from the likes of Amazon?
I hope this won't be the predicted tax hike for the lower incomes and small businesses...
Taipan wrote: ↑Wed Oct 30, 2024 11:09 am
save the high st
It's been dead for 20+ years man. There's no 'saving' of it...
That's why I said attempt. Town centres and high streets are slowly dying because of business rates and people like Mike Ashley (Fraser Group) and other assorted retailers have been campaigning for a change to business rates, which were set before the internet existed, for many years now. Its not a level playing field by a long chalk! Retailers cant match online discounts when they are facing such unfair business rates and sadly a lot are now moving to online sales themselves. We'll all be sorry if we become solely dependent on online ordering and that's from someone who is guilty of it. High streets and town centres are extremely important to local economies.
Taipan wrote: ↑Wed Oct 30, 2024 11:09 am
save the high st
It's been dead for 20+ years man. There's no 'saving' of it...
That's why I said attempt. Town centres and high streets are slowly dying because of business rates
Nope, they're dying because no-one going shopping any more. Whether that's a cultural thing, an internet thing or just circumstance i don't really know, but business rates are a very small part of the reason for businesses shutting down. It's mostly because the majority work from home, don't socially interact any more.
Same as pubs... pubs are not closing because of anything other than a lack of customers.
It's been dead for 20+ years man. There's no 'saving' of it...
That's why I said attempt. Town centres and high streets are slowly dying because of business rates
Nope, they're dying because no-one going shopping any more. Whether that's a cultural thing, an internet thing or just circumstance i don't really know, but business rates are a very small part of the reason for businesses shutting down. It's mostly because the majority work from home, don't socially interact any more.
Same as pubs... pubs are not closing because of anything other than a lack of customers.
all IMO of course.
This ^
Rates mean fuck all when it's easier to buy stuff, for lower prices, from the sofa.
Taipan wrote: ↑Wed Oct 30, 2024 11:26 am
We'll all be sorry if we become solely dependent on online ordering
Why ?
Certain things need trying before buying, I need a new office chair and a pair of gloves, I'll not risk spending £100's before I know they're fit for me / my use.
Of course I'm guilty of trying stuff in a shop and then buying cheaper online.
Taipan wrote: ↑Wed Oct 30, 2024 11:26 am
We'll all be sorry if we become solely dependent on online ordering
Why ?
Certain things need trying before buying, I need a new office chair and a pair of gloves, I'll not risk spending £100's before I know they're fit for me / my use.
Of course I'm guilty of trying stuff in a shop and then buying cheaper online.
Many places do free return shipping, just buy and send back.
Tax Amazon , Apple, Google, etc on all sales made within the UK as a % of sales income, and don't allow "losses", that include intrenal transfers to Luxembourg holding companies to be seen as losses.
That might help the High St (then there is expensive parking, badly trained staff, "we will have to order your size, but we can't return it, so you will have to pay" etc.
At some stage the big brands are going to have to set up show rooms, allowing folks to see and try product, knowing that they will get their financial contribution from on-line sales.
(That said, has anyone else notice the huge amount of conterfeit stuff being sold on Amazon?)
Taipan wrote: ↑Wed Oct 30, 2024 11:26 am
We'll all be sorry if we become solely dependent on online ordering
Why ?
If you dont like Amazon prices, where else will you take your custom? High street prices have always varied regionally too, although that is/can be applied in e-commerce.
Shopping isn't dead, most malls are crazy places at Xmas for instance, but a lot of people are savvy enough to check online pricing too. Like I say high st retailers cant compete with online retailers as they have much smaller overheads and tax breaks. Level the playing field and things might change.
