The budget
 

Let's focus on the budget! (Muslims or not)

In particular people on the lowest incomes:

https://news.sky.com/story/budget-la...-live-13040934

I ain't making £131,000, do I qualify for universal whatrever-is-called benefit?

Re: The budget
 

The NI cut is a headline grabbing initiative that will make people feel richer because the net pay amount that is on their payslip and which appears on their bank balance will be numerically larger - significantly so, for middle earners and upwards. But as he hasn’t increased tax thresholds in line with inflation for several years now, we are all worse off in real terms even after the NI cut.

This will have been a useful exercise for the economy if it prompts consumer spending sufficiently to jolt it back into life, however mostly it’s a blatant electioneering stunt, with the added bonus of, if it doesn’t work and Labour gets in, screwing their own economic plans from day one.

I noticed the official Treasury PR photo of Jeremy Hunt preparing his budget had him sitting beneath a framed portrait of Nigel Lawson.

Jeremy Hunt is not Nigel Lawson.

Re: The budget
 

Re: The budget
 

Only a General Election can do that.

Re: The budget
 

Its a politically motivated short term budget rather then a budget which would improve things for this country in the long term.

Re: The budget
 

I stocked-up on beer, expecting a tax hike. Well, at least I won't have to buy any more for a while.

I no longer pay N.I., have not had Child Benefit for over a decade, so it was a nothing budget for me.

Re: The budget
 

Indeed. The UK remains in the icy grip of the productivity slump that began with the 2008 Global Financial Crisis and was topped up by Brexit. It means living standards are falling whilst taxes are increasing. Whilst the OBR and other economic bodies talk about it, Brexit was conspicuous by its absence in Hunt's list of reasons for the ongoing productivity slump. It's the economic elephant in the room.

The UK sadly remains on track for its predicted 15% reduction in trade intensity as a result of Brexit. So what? Trade intensity increases competition and allows countries to specialise in what they're relatively more efficient at, thereby increasing productivity.

Re: The budget
 

Personally, I’ll continue to get hammered on tax. I’m not a massive drinker so not much of an impact there, lung lollies well obviously there’s an increase there


Meh for me

Re: The budget
 

Capitalism has the UK in a death spiral. The Government restricts itself arbitrarily from investment, the private sector won’t either it’s just there to extract, extract, extract and offshore the profits. Wages are so low, and inflation so high, there’s limited scope to raise taxes in any significant way. Living standards have taken enough of a hit.

There’s one way out and it’s the big “do not touch” button. A wealth tax.

Re: The budget
 

Re: The budget
 

I didn’t say that it would. It’s not the only useful measure or desirable output.

Re: The budget
 

It could increase net wages if receipts from a wealth tax could justify a reduction in income tax.

Given the state of the economy, we'll probably have to do a wealth tax without a reduction in income tax if councils aren't to go to the wall next year.

Re: The budget
 

Are you suggesting communism as an alternative, because that’s always turned out great?

Or a third way? Which I’d be happy to listen to.

Re: The budget
 

Undoubtedly el gov will pump out another budget before the election later this year...

Re: The budget