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This year the talk is about a range of tax rises to areas such as wealth, pensions and savings, fuel duty and property taxes. The clear risk here is that these measures will take money out of the economy as people move money between asset classes and the property market slows. A slow property market has a wide impact on legal services, building companies, DIY, furniture, white goods etc. We are likely to see a lack of confidence in spending, combined with further pressure on some sectors pushing up prices and unemployment adding to today's problems.
Let's hope Reeves decides to stimulate confidence and get more money moving in the economy, the back benches seem to have won the day on Welfare Reform so I doubt it.
PS Why Part Deux, because the French are in the merde and we are not far behind them.
Budget Speculation - Part Deux 2025 on 20:53 - Nov 26 by Gwyn737
I think it’s worth noting that about half of that is on pensions.
You really do have a problem with pensioners perhaps something needs to be done with people who have never worked a day in their life and receive more than somebody whose on minimum wage
You give it out, you take it back it`s all part of the game
Survived the chaotic scenes forecasted by many over a tax rise on my hard earned for now .
But my Personal Allowance of £12.5 k per annum will be frozen until I am in way past my working sell by date , just why do I bother trying to input the working culture of folk .
Sad to say , the churn them out mums , with no structure to their lives and no father to be seen on horizon or done a runner will rub their hands , give the readies asap please .
Cynical views I know , but I do see Mobility car schemes abused daily and freeloaders who are happy to claim Universal Credit as a part of , hey lets claim what we can get attitude .
Another fold in from Rach from Accounts , I need to keep my Backbenchers onside . For now at least it seems .
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Budget Speculation - Part Deux 2025 on 05:53 - Nov 27 with 645 views
Budget Speculation - Part Deux 2025 on 23:17 - Nov 26 by raynor94
You really do have a problem with pensioners perhaps something needs to be done with people who have never worked a day in their life and receive more than somebody whose on minimum wage
I don’t at all Rayns.
It’s just many don’t think of pensions as part of the welfare bill. Those who haven’t worked are not only unfairly better off than those on minimum wage but they’re not contributing to the tax take which needed with a growing number of pensioners and a falling birth rate.
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Budget Speculation - Part Deux 2025 on 09:13 - Nov 27 with 599 views
Budget Speculation - Part Deux 2025 on 05:53 - Nov 27 by Gwyn737
I don’t at all Rayns.
It’s just many don’t think of pensions as part of the welfare bill. Those who haven’t worked are not only unfairly better off than those on minimum wage but they’re not contributing to the tax take which needed with a growing number of pensioners and a falling birth rate.
The Budget has made saving for retirement more difficult, with an ageing population it makes no sense at all to hit people putting money into pensions or saving. Gordon Brown screwed up final salary schemes and now we are making things worse for those who want to save, it is pure madness.
I think by the time I retire after 45 years at work I will have paid about £700,000 in tax and NI, and then there's Council Tax and indirect taxes, I will take about £130,000 out in the way of a taxed OAP at current rates if I make 82 (average life expectancy), I'll still be paying tax in retirement which will be another £50,000 to £100,000 depending on how long I live.
I have not claimed any benefits in my life, no doubt the activist loonies will see me as a problem if/when I become an OAP.
Budget Speculation - Part Deux 2025 on 09:13 - Nov 27 by JACKMANANDBOY
The Budget has made saving for retirement more difficult, with an ageing population it makes no sense at all to hit people putting money into pensions or saving. Gordon Brown screwed up final salary schemes and now we are making things worse for those who want to save, it is pure madness.
I think by the time I retire after 45 years at work I will have paid about £700,000 in tax and NI, and then there's Council Tax and indirect taxes, I will take about £130,000 out in the way of a taxed OAP at current rates if I make 82 (average life expectancy), I'll still be paying tax in retirement which will be another £50,000 to £100,000 depending on how long I live.
I have not claimed any benefits in my life, no doubt the activist loonies will see me as a problem if/when I become an OAP.
Your last paragraph is spot on I worked for 45 years and never claimed a penny and brought up two children and yet made to feel a problem these days becuse of the triple lock which I pay tax on
You give it out, you take it back it`s all part of the game
Budget Speculation - Part Deux 2025 on 05:53 - Nov 27 by Gwyn737
I don’t at all Rayns.
It’s just many don’t think of pensions as part of the welfare bill. Those who haven’t worked are not only unfairly better off than those on minimum wage but they’re not contributing to the tax take which needed with a growing number of pensioners and a falling birth rate.
I certainly can see the birth rate increasing now!
You give it out, you take it back it`s all part of the game
Budget Speculation - Part Deux 2025 on 09:49 - Nov 27 by raynor94
Your last paragraph is spot on I worked for 45 years and never claimed a penny and brought up two children and yet made to feel a problem these days becuse of the triple lock which I pay tax on
Yes But you’re wealthy and clearly saved The poor can’t afford to save what with the cost of Tats, vaping, fags, kids phones and pedigree dogs I mean , what about all those moms with four kids from four dads who have forked off
Plenty of examples been given of people who will be taking advantage of the removal of the two child limit so here’s one from today from the other end of the spectrum.
Had a meeting with a dad today who lost his wife 2 and a bit years ago and he was left with 4 children under the age of 11.
He gave up work as he couldn’t afford the childcare and dedicated his life to caring for his kids.
The meeting was unrelated to this but he mentioned at the end that he’d looked at the numbers and thought this would enable him to get back to work.
Budget Speculation - Part Deux 2025 on 18:55 - Nov 27 by Gwyn737
Plenty of examples been given of people who will be taking advantage of the removal of the two child limit so here’s one from today from the other end of the spectrum.
Had a meeting with a dad today who lost his wife 2 and a bit years ago and he was left with 4 children under the age of 11.
He gave up work as he couldn’t afford the childcare and dedicated his life to caring for his kids.
The meeting was unrelated to this but he mentioned at the end that he’d looked at the numbers and thought this would enable him to get back to work.
Light at the end of a very dark tunnel.
There will always be genuine cases.
A significant tax reduction would provide him with the benefit he needed as someone who would clearly prefer to be working.
That's the balance that needs to be struck, and what the welfare state machinery has drifted away from. People must always, ALWAYS be better off working.
Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back.
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Budget Speculation - Part Deux 2025 on 23:08 - Nov 27 with 403 views
Budget Speculation - Part Deux 2025 on 22:49 - Nov 27 by Dr_Winston
There will always be genuine cases.
A significant tax reduction would provide him with the benefit he needed as someone who would clearly prefer to be working.
That's the balance that needs to be struck, and what the welfare state machinery has drifted away from. People must always, ALWAYS be better off working.
Governments need to reward what creates independence rather than dependence on the state. As you say better to give a tax break than a handout. Reducing the tax breaks for people saving for their retirement is utter stupidity, similarly raising taxes on employment is counter productive. We have people in Government who seem content to create more and more dependence on the state.
Budget Speculation - Part Deux 2025 on 23:08 - Nov 27 by JACKMANANDBOY
Governments need to reward what creates independence rather than dependence on the state. As you say better to give a tax break than a handout. Reducing the tax breaks for people saving for their retirement is utter stupidity, similarly raising taxes on employment is counter productive. We have people in Government who seem content to create more and more dependence on the state.
Agree with all that.
We also need to find how we make work pay, and not make it all a race to the bottom.
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Budget Speculation - Part Deux 2025 on 09:56 - Nov 28 with 291 views
Budget Speculation - Part Deux 2025 on 23:08 - Nov 27 by JACKMANANDBOY
Governments need to reward what creates independence rather than dependence on the state. As you say better to give a tax break than a handout. Reducing the tax breaks for people saving for their retirement is utter stupidity, similarly raising taxes on employment is counter productive. We have people in Government who seem content to create more and more dependence on the state.
The left wing of the Labour Party who now control the agenda
You give it out, you take it back it`s all part of the game
In regards to striving making work pay (and I know this will really annoy some on here but here goes..).
In 2008 the starting salary for a teacher was £20,627 - 85% higher than the minimum wage. With yesterdays rise, the gap has shrunk to 33%.
Of course there's the bonus of pension contributions but there's also tens of thousands of pounds of debt accrued through gaining the necessary degree.
I'm sure there are loads of stories around wage stagnation - it's just this is the one I know the figures for,
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Budget Speculation - Part Deux 2025 on 12:35 - Nov 28 with 241 views
Budget Speculation - Part Deux 2025 on 09:44 - Nov 28 by Gwyn737
Agree with all that.
We also need to find how we make work pay, and not make it all a race to the bottom.
The issue of reducing pay was already emerging, when an idiot called Gordon Brown decided to use benefits to top up pay, employers responded by keeping wages down knowing that Brown would fill the gap, that is a big reason why we see so much low pay and so much paid out in the form of in work benefits. Both the private and public sectors benchmark pay but don't consider the ' Brown effect '. We need to reset all this nonsense as it is out of control, the Government seem happy to pay out more and more in benefits that support the race to the bottom.
Budget Speculation - Part Deux 2025 on 12:35 - Nov 28 by JACKMANANDBOY
The issue of reducing pay was already emerging, when an idiot called Gordon Brown decided to use benefits to top up pay, employers responded by keeping wages down knowing that Brown would fill the gap, that is a big reason why we see so much low pay and so much paid out in the form of in work benefits. Both the private and public sectors benchmark pay but don't consider the ' Brown effect '. We need to reset all this nonsense as it is out of control, the Government seem happy to pay out more and more in benefits that support the race to the bottom.
We've also got the gap between rich and poor workers.
I've no idea how we solve that tbh.
It seems to all rely on the good will of the wealthy as we're told if we tax them they'll move away.
The woman who leads BET365 took home hundreds of millions last year but she very quietly paid all her tax in Britain. We need more of that.
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Budget Speculation - Part Deux 2025 on 13:54 - Nov 28 with 205 views
Budget Speculation - Part Deux 2025 on 12:49 - Nov 28 by Gwyn737
We've also got the gap between rich and poor workers.
I've no idea how we solve that tbh.
It seems to all rely on the good will of the wealthy as we're told if we tax them they'll move away.
The woman who leads BET365 took home hundreds of millions last year but she very quietly paid all her tax in Britain. We need more of that.
Globalisation and technology makes managing the ultra rich difficult, even the moderately well off can run a business from abroad. I have an old school friend who runs a Company in South Wales but lives in Spain. An attempt to align taxes on corporations across countries was rejected by the EU. Some progress could be made by improving the reporting on remuneration so that there was more transparency of inequalities and 'well run' companies could be recognised by prospective customers.
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