Budget

[Notch7]

increase in income tax ~9-12% over next 3 years

Labour have simply continued a Tory policy




From OBR

• In March 2021, the income tax personal allowance (PA) was frozen at £12,570 and the higher rate threshold (HRT) at £50,270, from 2022-23 to 2025-26. The freezes were extended for a further two years in November 2022, when the upper earnings limit and upper profits limit for NICs were also frozen, meaning all these allowances and thresholds were to be frozen to 2027-28.

Fiscal implications of personal tax threshold freezes and reductions - Office for Budget Responsibility

This box discussed the continuing impact of the multiple freezes and changes to personal tax thresholds between March 2021 and November 2022. It provided an update on the estimated receipts from these policies, and the additional number of tax payers by tax band.

obr.uk

 

[Notch7]

markets react positively at Labour budget

FTSE100 up 56
FTSE250 up 170

Labour are sorting out the mess caused by the last lot

FTSE 100 LIVE: Markets rise as OBR forecasts budget will leave Reeves with £22bn fiscal headroom​

FTSE 100 LIVE: Markets rise as OBR forecasts budget will leave Reeves with £22bn fiscal headroom

The yield on 10-year UK gilts, a benchmark for the return the Treasury promises to buyers of its debt, climbed by four basis points to 4.53% ahead of the speech.

uk.finance.yahoo.com

 

[Ivor Windybottom]

Now the economy will remain paralysed, waiting for the next instalment of death by taxes.

Perhaps in just a few months.

Does anyone take any notice of the OBR any more? Everything they predict is utterly wrong.

 

[Ivor Windybottom]

OBR's successive productivity predictions in grey, reality in red...

You may as well ask Mystic Meg as listen to them.

The boom's always just around the corner, but we never get there. But their predictions give the government the excuse to keep borrowing.

 

[motorbiking]

markets react positively at Labour budget

FTSE100 up 56
FTSE250 up 170

Labour are sorting out the mess caused by the last lot

FTSE 100 LIVE: Markets rise as OBR forecasts budget will leave Reeves with £22bn fiscal headroom​

FTSE 100 LIVE: Markets rise as OBR forecasts budget will leave Reeves with £22bn fiscal headroom

The yield on 10-year UK gilts, a benchmark for the return the Treasury promises to buyers of its debt, climbed by four basis points to 4.53% ahead of the speech.

uk.finance.yahoo.com

Rise doing a lot of heavy lifting
FTSE100 (0.65%)
FTSE250 (0.88%) down 3% in a month

 

[Notch7]

shows a fundamental complete lack of understanding of economics and business in general.

Do you think that Conservatives have a lack of understanding of business?

what do you think Brexit did and is still doing to business?

 

[motorbiking]

Cash ISAs only for old people. How the hell can she justify that?

 

[Notch7]

Rise doing a lot of heavy lifting
FTSE100 (0.65%)
FTSE250 (0.88%) down 3% in a month

it is a rise on budget day

 

[Murdochcat]

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

Really. So if you were in your early 60’s what would you do with your savings?

Your comment is nothing but the politics of envy

 

[Notch7]

Tax payers to pay more to prop up the shirkers

what are these shirkers you talk about?


good old Daily Mail punching down

Higher minimum wages to fuel inflation upwards

wages stagnated for the whole 14 years Tories were in power

people cant afford to eat and heat

 

[Notch7]

Your comment is nothing but the politics of envy

"politics of envy" -lazy argument

 

[Andydevon]

"politics of envy" -lazy argument

But true.

 

[Lower]

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

Agreed, but business success is linked to economic confidence. When the government destroys economic confidence, markets collapse, unemployment goes up, and consumers stop spending, which creates a vicious cycle, usually called a recession.

Putting up the minimum wage when economic confidence is already low is pouring petrol on a fire.

 

[Notch7]

But true.

not true

 

[motorbiking]

eVED (EV tax) will be self reporting system. With users "estimating" their mileage each year. Until a car is 3 years old there is no way to link the estimates to actuals.

I can see this initiative getting rolled out to all vehicles.