Budget

[Lower]

so its good they havent done that

so Motobiking is complaining that min wage is going up by 4.1% and 8.5%

I dont see Motorbiking complaining that CEO median pay in 2024 increased by 15.4% from 2023


are CEOs working harder in any way shape of form?

I'm not a CEO and don't earn CEO income. But i am a MD and employ approx 110 people.

With business confidence so low, we've been on the edge of survival for the last 18 months. I've been working harder than i've ever worked to try and keep the business solvent and able to pay the monthly wage bill each month. I've forfeited my monthly salary for 3 months this year to help pay the wage bill.

We've not been able to afford to give any employee a pay rise over the last 2 years, other than those on minimum wage who's income has gone up faster than inflation and is dragging semi skilled and skilled workers into the minimum wage bracket, which in turn is making it harder and harder to retain staff.

I've already taken a substantial pay cut, and this minimum wage increase is only going to make things harder. I can't absorb it as we're just about breaking even after 2 years of making losses. We've borrowed against every asset we have, so I have no choice but to pass on the price increase to our customers who are already very price sensitive because they're struggling too. The only other alternative is to downsize further and try to find ways to reduce headcount, thus increasing unemployment and increasing the benefits bill.

This government is an utter shambles. The conservatives were worn out and done, and i knew that labour would move the country in a different direction. But their complete mishandling of the budgets and the economy shows a fundamental complete lack of understanding of economics and business in general. They are killing the golden goose, but have absolutely zero comprehension of what they're doing.

 

[Koolpc]

Budget 2025: Follow Rachel Reeves speech live

The Office for Budget Responsibility unexpectedly publishes its growth forecast ahead of Reeves's statement at 12:30 GMT.

www.bbc.co.uk

 

[Koolpc]

What good is it to me freezing the income tax threshold for another 3 years beyond 2028?

But, i will be retired by then and i guess my pension will get attacked!!!

 

[Ivor Windybottom]

I agree with minimum wage not being enough.
I also agree that prices just go up as the wage goes up so it doesn't give any real benefit.

What's needed is to close the gap between pay levels so people can live on what they earn, not just exist

You must have gone to the same economics course as Rachel.

If you pump more money into the economy then prices rise. There's only a fixed amount of stuff in the world, if more people are trying to buy it then prices rise.

The world where everyone is rich simply doesn't exist, well not outside of the heads of clueless people anyway.

 

[motorbiking]

So its all public :

Green tax - 3p/pm on EVs so £300 on the avg. EV driver
Pension tax - contributions above 2k will have NI to pay, what exactly is the point of putting the Money in a pension now?
increase in income tax ~9-12% over next 3 years
Homes 2-2.5M get £2.5k tax, with homes £5M over £7.5M get - I wonder how much it will cost to value all these homes.

 

[Ivor Windybottom]

This list isn't enough to cover the govt's runaway uncontrolled spending. They've also brought back the breed-like-rabbits reward for those who want us to pay for their limitless kids.

I predict ever increasing bond yields leading to national bankruptcy.

Good, let's get it over and done with, get the labour party to collapse from within and force an election.

 

[Elsa TLC]

Festive says it’s beyond stupid giving a bit more to the lowest paid so they can afford to eat or heat their homes.

Festive says the sensible thing would be to make the poorest starve whilst cutting taxes for the richest.

Are you a ventriloquist in your other life?

 

[carmanmemoranda]

You must have gone to the same economics course as Rachel.

If you pump more money into the economy then prices rise. There's only a fixed amount of stuff in the world, if more people are trying to buy it then prices rise.

The world where everyone is rich simply doesn't exist, well not outside of the heads of clueless people anyway.

Yes so let's just pay less than minimum wage.

Care to explain how that's going to help either people, or the economy?

 

[carmanmemoranda]

No they won't, they'll be unemployed as nobody will be able to afford to pay them.

Basic rule of business. If extra staff makes more profit then they will employ

If the business isn't making profit but there competitors are, then the business isn't being run right. Maybe lay off the some of the poor managers and replace instead

 

[Ihavenojob]

 

[carmanmemoranda]

I'm not a CEO and don't earn CEO income. But i am a MD and employ approx 110 people.

With business confidence so low, we've been on the edge of survival for the last 18 months. I've been working harder than i've ever worked to try and keep the business solvent and able to pay the monthly wage bill each month. I've forfeited my monthly salary for 3 months this year to help pay the wage bill.

We've not been able to afford to give any employee a pay rise over the last 2 years, other than those on minimum wage who's income has gone up faster than inflation and is dragging semi skilled and skilled workers into the minimum wage bracket, which in turn is making it harder and harder to retain staff.

I've already taken a substantial pay cut, and this minimum wage increase is only going to make things harder. I can't absorb it as we're just about breaking even after 2 years of making losses. We've borrowed against every asset we have, so I have no choice but to pass on the price increase to our customers who are already very price sensitive because they're struggling too. The only other alternative is to downsize further and try to find ways to reduce headcount, thus increasing unemployment and increasing the benefits bill.

This government is an utter shambles. The conservatives were worn out and done, and i knew that labour would move the country in a different direction. But their complete mishandling of the budgets and the economy shows a fundamental complete lack of understanding of economics and business in general. They are killing the golden goose, but have absolutely zero comprehension of what they're doing.

Harsh as it sounds, if your business isn't making money there's a bigger issue than minimum wages rising

 

[Murdochcat]

So in summary

Tax payers to pay more to prop up the shirkers
Higher minimum wages to fuel inflation upwards
More middle earners to be dragged into the 40% tax rate
Little more to be contributed by the super rich

 

[blup]

.

 

[blup]

So in summary

Tax payers to pay more to prop up the shirkers
Higher minimum wages to fuel inflation upwards
More middle earners to be dragged into the 40% tax rate
Little more to be contributed by the super rich

She missed an opportunity to kick start the economy by taxing the richer, and using the proceeds that were sitting in bank accounts doing sod all

 

[Koolpc]

Abysmal budget...