Budget day. Watcha hoping for/dreading?

[JamJar]

The CGT increase was on share sales wasn't it?

[gremlin]

Only draught beer tho'

I bet the bastards don't count the PerfectDraft kegs as draft beer.

[Saga Lout]

I'm a bit of a dandy, so I like to go proper shopping for clothes. Feel the weft of the fabric, try on the items and parade up and down, be fawned upon...

Ooh, suits you Sir.

Mind you, any self respecting dandy would want to feel the warp and the weft of the fabric. One without the other is useless.

[Dodgy69]

How much they spending on shoring up our South coast defences.

[Silly Car]

The CGT increase was on share sales wasn't it?

CGT rates are now aligned for shares, unit trusts (and variants such as OEIC, PAIFS, Investment Trusts etc), commercial & residential property (not your home), crypto, valuables valued in excess of £6,000 etc

18% if the gain after allowances sits within any remaining personal allowance and basic rate income tax band after deducting other income
24% if you are a higher rate income tax payer
A bit of both rates if your income plus gain after allowances adds up to more than £50270

[Taipan]

Seems a fair summary is £40bn tax hike with a low growth trajectory?

[Cousin Jack]

OTOH it seems as though the bulk of that £40bn is aimed squarely at the 'rich'; how much of that pain they manage to send down the line remains to be seen.

[Mr Moofo]

The Daily Telegraph sees it as the beginning of Armageddon.
Is it?

[Mussels]

Seems a fair summary is £40bn tax hike with a low growth trajectory?

And not the end of it, the IFS thinks she's still telling the same lies as before the election.
https://www.bbc.co.uk/news/articles/cgj72wxw8jxo

Chancellor Rachel Reeves insisted on Wednesday that her huge revenue-raising Budget was a one-off move to "wipe the slate clean" and not something she "would want to repeat".

But Paul Johnson, head of the IFS, told the BBC that pressures to keep spending on public services would be hard to resist.

"I suspect we’ll end up with even more spending, possibly considerably more spending than is currently planned," he said.

"That will probably mean, unless she gets lucky with growth, more tax rises to come next year or the year after," he told BBC Radio 4's Today Programme.

[Taipan]

The Daily Telegraph sees it as the beginning of Armageddon.
Is it?

I'm about to watch GB News so will confirm/deny later.

[gremlin]

The Daily Telegraph sees it as the beginning of Armageddon.
Is it?

I'm about to watch GB News so will confirm/deny later.

Mindful of politic bias, this is from the somewhat left-leaning Grauniad;

Hughes said: “Against a largely unchanged economic and fiscal backdrop since our last forecast in March, this budget delivers one of the largest increases in spending, tax and borrowing of any single fiscal event in history.”

https://www.theguardian.com/business/20 ... es-economy


As everybody knows, when you borrow big to spend big, you gotta pay it back at some point. Let's hope RR's trip to the roulette tables at Blackpool comes in, else our kids will be digging us out of even more debt.
Mind you, I've always fancied living in Italy, so the govt. turning the UK into an economic basket like Italy case might just satisfy those cravings.

[Mr Moofo]

The Daily Telegraph sees it as the beginning of Armageddon.
Is it?

I'm about to watch GB News so will confirm/deny later.

Mindful of politic bias, this is from the somewhat left-leaning Grauniad;

Hughes said: “Against a largely unchanged economic and fiscal backdrop since our last forecast in March, this budget delivers one of the largest increases in spending, tax and borrowing of any single fiscal event in history.”

https://www.theguardian.com/business/20 ... es-economy


As everybody knows, when you borrow big to spend big, you gotta pay it back at some point. Let's hope RR's trip to the roulette tables at Blackpool comes in, else our kids will be digging us out of even more debt.
Mind you, I've always fancied living in Italy, so the govt. turning the UK into an economic basket like Italy case might just satisfy those cravings.

I really don’t understand the borrow big to spend big idea.
It’s as bad as trickle down economics

[gremlin]

It’s as bad as trickle down economics

It's like your Mr. Mark and Mr. Spencer having to buy the stock to sell it on to middle class Victorians. Gotta speculate to accumulate and the rest is not just history...this is M&S history. The theory is sound, but national infrastructure projects seem fail spectacularly, run over budget, never deliver what's promised or get watered down to the point of being pointless in the end: HS2 - running from Old Oak Common and terminating in Acton!


Plus investments seem to be based on the whichever will give the most positive headlines for tomorrow's fish and chip wrapper, not what may actually add value. Lower Thames Crossing. +£800m and counting, and not a spade has hit the ground.

Listening to RR yesterday it was like she was reading from a Dickensian novel on poverty and gloom, then promising a land of milk and honey. I'm not holding out much hope, as to strangle business for the sake of looking like you're delivering salvation to 'hard working families' really is throwing out the baby with the bathwater.

[Taipan]

So after the debacle of Tory austerity, we now have Labour once again and true to form, sinking the economy before they even really get started. Let us hope Labour don't once again bankrupt us before 2029 and Farage comes in and returns us to the once great nation we were!

[MyLittleStudPony]

That was quite mild compared to what they were talking about before. Fairly sensible really. Good for the young people after 14 years of favouring the elderly. I thought they'd have hammered them more but maybe that's to come later. They did put the plastic in the sea after all.

[Zimbo]

Same as pubs... pubs are not closing because of anything other than a lack of customers.

all IMO of course.

Perhaps the lack of customers is down the the cost of a pint of beer, and the affordability of going down the pub for a couple of pints a few times a week? I remember being horrified in 1988 being asked to pay £1 for a pint for the first time (in that London), I think my local in rural Wiltshire was charging around 85p a pint then.

Adjusted for inflation, £1 in 1988 is £2.70 today, according to the BOE inflation calculator.

When did you last see an empty Wetherspoons? And if they can afford to sell beer at £2-£3 a pint, why can't everybody else? If beer was £2.70 a pint, wouldn't we all go down the pub a lot more?

[Dodgy69]

The root cause of this countries problems is our growing population. Until this issue is sensibly discussed and fixed without having the race card shoved in your face, we won't see much change.

[Pirahna]

So after the debacle of Tory austerity, we now have Labour once again and true to form, sinking the economy before they even really get started. Let us hope Labour don't once again bankrupt us before 2029 and Farage comes in and returns us to the once great nation we were!

Speaking of Farage (and the Tories)

https://www.independent.co.uk/news/uk/p ... 38317.html

[ZRX61]

If they had a section of the budget speech called “the future price of biscuits” I’d probably pay more attention...

[westers151]

That was quite mild compared to what they were talking about before. Fairly sensible really. Good for the young people after 14 years of favouring the elderly. I thought they'd have hammered them more but maybe that's to come later. They did put the plastic in the sea after all.

Not sure how this was good for the young people - you'll have to explain that one to me.