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Budget

Stats say that house ownership in China is over 90%. This is mind-blowing, until you dig a little deeper.
It's illegal to own land in China, so house owners are literally just house owners... with a pathetic 50 year leasehold. After that, the government can kick them out.
At least here in the UK we still have the opportunity to work hard, save, buy a house (freehold), start a business and hopefully leave a legacy for our grandchildren (if we choose to do so). Okay, the way things are going, this might have all changed before this is uploaded, but for now at least, I'm glad to be living in a country where hard work pays.
Anyway, I'm off to fill in a PIP claim and pick up my free Audi. Thanks guys!
 
I'd be happy with the US system.

No CGT on assets held more than a year.
Probably wouldn’t work in private equity get rich quick Britain. But a years grace surely isn't long to encourage investment in the wider economy
 
At least here in the UK we still have the opportunity to work hard, save, buy a house (freehold), start a business and hopefully leave a legacy for our grandchildren (if we choose to do so). Okay, the way things are going, this might have all changed before this is uploaded, but for now at least, I'm glad to be living in a country where hard work pays.
you mean the boomers that made a fortune out of property -they did very well

millions now cant afford to get on the property ladder no matter how hard they work
 
Maybe I'm being dozy but I don't think this budget will hurt me (more) at all.
I get a lot of cgt to pay, but the rate for that hasn't changed.

I did have rented properties, which would have been getting me less after tax (later). The last to go is an HMO with nicer than average accom so getting very over-the-top rent. The council have been for an inspection and seem keen to buy it. I imagine they'll put families in where there's now a professional single or a couple.
They like the laundry room - no mould. Until the new occupiers start drying their clothes in the rooms.

It seems nuts to me that the cgt rate is so low on gains on funds and shares, why less than income tax?

If they do it to encourage investment in industry that's a fail - I pretty much only use foreign companies. There's a tax/stamp duty on UK shares:rolleyes:.

The budget had pandering to silliness, like the changes to Motability. Recover the benefit for better than basic cars, ie charge more for them.
The "no extra payment" cars are not the posh ones. Simple. No never got a free Audi, by the way.

Payments for all kids should be in clothes/baby food vouchers to be used with ID, etc as much as possible, so the kids get the benefit not the sh*tty parents who produce extra kids to get benefits.
The >2 kid de-capping will encourage the lowest quality people to produce more low quality kids. You should get no extra benefits unless you have at least 2 A levels, taken in a UK school - we have enough proles!
 
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you mean the boomers that made a fortune out of property -they did very well

millions now cant afford to get on the property ladder no matter how hard they work
I'm 57. Am I a 'boomer'?
I've worked hard all my life, as did my parents and my grandparents. It's in the blood, and my son is cut from the same cloth.
Forget your freebies. We sleep well in the knowledge that we've actually contributed to society.
 
The last to go is an HMO with nicer than average accom so getting very over-the-top rent. The council have been for an inspection and seem keen to buy it.
I bet they are! Just wait until you see who they have lined up to live there!
 
There are 2M homes in scope for the tax

Did you make that figure up?

Or read it in one of your non-existent press releases?

"The levy on homes worth more than £2mn is a recurring yearly charge affecting about 165,000 high-value properties, mainly in London and the south-east, and spread across four price bands."

FT.com

I hope most readers are aware by now that your words should not be believed.
 
Probably wouldn’t work in private equity get rich quick Britain. But a years grace surely isn't long to encourage investment in the wider economy
It’s standard for any RSUs.
 
I think our economy would be bouncing if every physically able adult worked for 35 years. Start work at 16 or 18, or study until you're 24. Just do your 40 years and then retire.
Every man and his dog are applying for PIP these days. There's even a pop-up ad for an autism quiz running on this website!
By all means, support those with REAL disabilities, but don't have a system that encourages people to present as disabled for monetary reward. That's the work of Satan.
I listen to a lot of radio phone ins and whenever some one is "disabled" they tell you so within 30 seconds of the conversation with the presenter and this is when the subject being talked about has nothing to do with disability.
 
I'm 57. Am I a 'boomer'?
No. The 'baby boom" occurred immediately after WW2 as randy couples made whoopee to celebrate. Those babies would be in their late 70s now. You were born in the 60s, along time after the baby boom.
I bet they are! Just wait until you see who they have lined up to live there!
Oh no! Is Justin's area about to be enriched?
Seriously, I wouldn't wish that on anybody, even him.
 
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