On 18 Mar 2015 at 3:52pm Ed Can Do wrote:
What a pointless budget. There is nothing in there to get excited about and it was more spin than policy. Take a look at the headlines:
Abolishing paper tax returns - This has been coming for at least ten years. In fact, you already can't submit paper personal tax returns and have to do them online.
Increase in the personal allowance - By £200, so you'll save £40 tax a year. That's 77p a week, try not to spend it all in the same shop.
Freeze on fuel duty - This isn't saving you money, it's just not costing you more money. They could have just not mentioned it at all and everyone's life would be the same.
1p off a pint of beer - Which translates as an extra penny profit for the breweries for every pint they sell.
Increased savings allowance - Does anybody actually have spare money for saving these days? With interest rates on most savings accounts hovering around the 1% mark, I very much doubt it.
Higher banking levy - Raising £900m a year, from an industry that makes billions and billions of pounds of profits every year and which is still in debt to the tax payer to the tune of at least £24billion.
Increased access to cash for homebuyers - But no new houses being built so all this does is push up house prices! Good news for wealthy landlord types.
Increased higher-rate tax threshold - More good news for the better off in society, bonuses all round!
Tax cuts for north sea oil - Saving money for companies that make billions and billions in profits every year, I see a theme emerging here.
Farmers can average their income for five years for tax purposes - Clever one this, it means farmers are paying tax on their income 3 years ago, saving what inflation would have cost them extra. More money for wealthy land-owners!
And all the while no mention of spending on the NHS or other essential public services. This was a budget designed to win votes from the countryside and old folk and to make life a touch easier for the rich people who are funding the election campaign for the Tories. Don't be fooled, the Tories are not on your side and we are not all in it together and this budget proves this without a shadow of a doubt.
On 18 Mar 2015 at 4:19pm 8 miles from home wrote:
It was worth watching just to see and hear the Miliband meltdown on his response to the budget.
On 18 Mar 2015 at 5:02pm Country Boy wrote:
Suited me perfectly (and by the way, I still submit a paper tax return!).
On 18 Mar 2015 at 7:53pm Clifford wrote:
8 miles from home wrote: 'It was worth watching just to see and hear the Miliband meltdown on his response to the budget.'
I was watching and didn't see the 'meltdown'. Perhaps you'd give us a bit more detail 8 miles. (And, No, I'm not a Labour supporter).
On 18 Mar 2015 at 8:30pm 8 miles from home wrote:
It was like watching Man City taking on Barcelona. You're still not getting it Cliffy
On 18 Mar 2015 at 9:24pm Clifford wrote:
I think we get it 8 miles. You were just making a juvenile knee-jerk comment that you can't back up. We expect no less.
On 18 Mar 2015 at 10:40pm Paul Newman wrote:
I did not watch being at work and all that , I do recommend you read Simon Jenkins on Osbourne though, he is one of the few that gets it, not just on this administration but on how a government works .
Check it out here »
On 18 Mar 2015 at 11:15pm One nation Tory. wrote:
You are right Paul this a great budget and real a game changer unfortunately not for us though By overplaying his hand and crowing about a recovery that hardly anyone but the wealthy few are experiencing Osbourne has guaranteed a Labour victory at the election well done.................NOT!
On 19 Mar 2015 at 1:38am Fairmeadow wrote:
Pretty sharp analysis Ed Can Do.
On 19 Mar 2015 at 8:59am Sussex Jim wrote:
Ed, your glass appears to be half-empty. Mine is half-full.
Another £40 in the pocket of a worker, and another £200 a year in the accounts of savers- many of whom are pensioners.
On 19 Mar 2015 at 9:09am Paul Newman wrote:
As ED Can Do has expressed an intention to vote for the Green Party we may except anything short of the end of capitalism to be a disappointment.The papers seem positive, even the Guardian is grudgingly satisfied .
One point of interest with the budget is that nowadays the real budget isn't really on the table until the IFS have crunched the numbers which takes a day or two. In the bad old days Gordon Brown was able to announce £20 billion of new money which was in fact about £3billion by misleading presentation.
That was where the IFS made its reputation lead by Robert Chote who Cameron made part of government as head of the OBR.
On 19 Mar 2015 at 11:19am Observer wrote:
Meanwhile, from Martin Wolf in the FT:
The claim that the government’s goal is “for Britain to become the most prosperous major economy in the world” is vainglorious. According to the International Monetary Fund, UK real GDP per head is 32 per cent below that of the US and well below that of Germany and France (a country on which Mr Osborne delighted to pour scorn). Worse, GDP per head has fallen substantially against that of the US since the crisis. There is nothing in recent performance to suggest that the government’s goal is anything short of a mirage.
No less absurd is the boast that this time Britain’s recovery will not be built upon debt. In fact, the UK is running an exceptionally large current account deficit. Under OBR forecasts, the ratio of household debt to income, though expected to rise less rapidly than was the case last December, is still forecast to reach record levels by the end of the decade. In sum, on both the demand and supply sides, the assumed performance looks questionable, fragile, or both.
On 19 Mar 2015 at 11:42am Ed Can Do wrote:
I've expressed an intention to vote for the local green candidate, there's a subtle difference there. Most of my politics are actually fairly right-leaning, I own a house in Lewes, I have a job paying pretty much bang on the national average, I don't have any kids and don't claim anything at all from the state in terms of support so most modern socialist policies are pretty pointless for me. Sadly it would seem I'm part of the demographic that politics no longer cares about though, everything that gets announced is either wooing pensioners or those on the lowest incomes.
The two main parties snipe back and forth with promises to increase minimum wage but all that does is means that companies like the one I work for have no money to give pay rises to people earning above that. Labour want to repeal the bedroom tax but I think it's a good idea in principle, it just needs backing up with a major bit of house building so people actually have smaller houses to move to.
Whilst I agree that benefits reforms are needed, I also appreciate that the entire benefits bill is dwarfed by the scale of tax avoidance by wealthy individuals and despair at the way politics is increasingly run for the benefit of politicians and their mates. Yesterday's budget was an exercise in cutting taxes for the rich but hiding that behind meaningless but good-sounding policies. Even if you somehow manage to earn a grand a year in interest on your savings, if you're not a higher-rate tax payer you are at best a fiver a week better off. That'll buy you a cheap lunch maybe, or ten cigarettes, maybe a pint and a half of lager if you're lucky, and it doesn't cover the increase in Council Tax and energy bills this year. Gideon can chat all he wants about the "Recovery" but everyone except the richest people in the cuontry are worse off than when the Tories came to power. 1p off a pint isn't going to save the pub trade because nobody can afford to go out any more.
If nothing else, the budget confirmed for me that the Tories are completely out of touch with "normal" people and frankly, they don't care. There are enough votes from pensioners, bankers and farmers to just about win the election and all the while they turn a blind eye to how much tax Rupert Murdoch doesn't pay, the Sun will back them ensuring the multitude of sheep who read the thing and vote however they are told will continue to back them and ensure victory.
On 19 Mar 2015 at 1:42pm Retired farmer married wrote:
to a young lady banker - I LOL @ you lot
On 20 Mar 2015 at 7:54am Manda Tory wrote:
A good budget
On 20 Mar 2015 at 7:55am Lava Tory wrote:
a crap budget
On 22 Mar 2015 at 10:27am Purga Tory wrote:
Hellish for some