[Finance] Autumn Statement

[Bodian]

Big fan of several Tories out crowing this morning that "the minimum wage will be the highest it's been in a decade". So in other words they've finally reversed the cut they made to it just under a decade ago?

And has it caught up with inflation yet?

 

[CorgiRegisteredFriend]

Good to see that both pension and universal credit increases are higher than the percentages awarded to nurses and teachers as part of their pay deals. Pay deals that they had to fight for.

 

[CHAPPERS]

Good to hear he's going to work on making sure everyone pays the tax they owe.

HMRC examines if David Cameron failed to fully disclose Greensill private flights as taxable perks

Exclusive: Former PM, who became a life peer last week, under scrutiny over use of financier’s aircraft and offshore trust

www.theguardian.com

 

[beorhthelm]

seems a long list of minor tweeks

 

[Giraffe]

Good to see that both pension and universal credit increases are higher than the percentages awarded to nurses and teachers as part of their pay deals. Pay deals that they had to fight for.

In fairness the pensioners have been paying their taxes for the whole of their lives. I don't really think the comparison is a very fair one.

 

[beorhthelm]

employee NI tax cut 2%, coming in Jan. can smell an earlier election planned.

 

[Brovion]

Good to see that both pension and universal credit increases are higher than the percentages awarded to nurses and teachers as part of their pay deals. Pay deals that they had to fight for.

Really think you're aiming at the wrong targets there. Just shows the divisions in our society when a few pounds a week rise (which is what the percentages equate to) for old people and those on benefits is somehow seen as a 'bad thing'. I can't think of another era where a increase in pensions and benefits is seen to be undeserved.

 

[Tim Over Whelmed]

Think we need to stop looking at the Old Age Pension as a benefit, I, and many like me, have paid a stack of cash into the system to be paid this in our old age, as others will be going forward. There are also far more incentives and education now about providing for your latter years. Let's not make pensioners feel like scroungers the moment they start enjoying the fruits of 40+ years labour.

 

[beorhthelm]

He'll do what he can to try and bribe certain elements of the electorate. IHT won't change, they tested the water with that last week but there is no appetite for it, hopefully because more and more people understand that it won't affect them.

does look that way, though Reeves still wanted to make a point about it. bit wrong footed, not a lot to attack and off on to general policy issues.

in fact going off on her own financal statement, what they'd do instead, which is nice change.

 

[nwgull]

Is there a link up to the details of this budget anywhere?

 

[abc]

A number of good measures in what is above all a non inflationary budget. But one swallow a spring does not make and it is on the back of many years of total economic and political incompetence. What matters most now is what labour will do in their first budget and I have a growing confidence that Reeves will have a proper balanced economic strategy plan by then and genuine ability to execute it.

 

[Bob!]

Is there a link up to the details of this budget anywhere?

Autumn statement 2023: key points at a glance

Jeremy Hunt has announced his financial update – here are the main points, with political analysis

www.theguardian.com

 

[Uh_huh_him]

Think we need to stop looking at the Old Age Pension as a benefit, I, and many like me, have paid a stack of cash into the system to be paid this in our old age, as others will be going forward. There are also far more incentives and education now about providing for your latter years. Let's not make pensioners feel like scroungers the moment they start enjoying the fruits of 40+ years labour.

No we don't. It is a benefit.
Pensioners deserve their pension - no question.
As do millions of people receiving benefits.

What we need to stop doing ,i s painting people in need of support from the government as "scroungers".

I don't begrudge pensioners getting their pension.
I just wish LL governments from the past 50 years had the balls to raise taxes to the level required, to cater for the needs of the population.

 

[Colonel Mustard]

Is there a link up to the details of this budget anywhere?

I’m sure the BBC or any newspaper website will be able to assist you.

 

[East Staffs Gull]

Think we need to stop looking at the Old Age Pension as a benefit, I, and many like me, have paid a stack of cash into the system to be paid this in our old age, as others will be going forward. There are also far more incentives and education now about providing for your latter years. Let's not make pensioners feel like scroungers the moment they start enjoying the fruits of 40+ years labour.

I know what you mean, but the reality is that your NI contributions, which historically were at significantly lower percentage rates, went to pay the state pensions of previous generations. State pensions aren’t pre-funded, so people are currently paying much higher NI contributions than you did in order to pay current state pensions, with no firm guarantee that they themselves will ever receive a state pension.

 

[Colonel Mustard]

I know what you mean, but the reality is that your NI contributions, which historically were at significantly lower percentage rates, went to pay the state pensions of previous generations. State pensions aren’t pre-funded, so people are currently paying much higher NI contributions than you did in order to pay current state pensions, with no firm guarantee that they themselves will ever receive a state pension.

Younger people often say that they think it unlikely they’ll receive a state pension. I think this is alarmism or scaremongering. I wouldn’t offer much hope to any political party whose election manifesto promised to end state pensions.

 

[maltaseagull]

Is there a link up to the details of this budget anywhere?

Just read all the posts from the experts before the statement.
They know everything.

 

[sparkie]

employee NI tax cut 2%, coming in Jan. can smell an earlier election planned.

Most welcome.

 

[Uh_huh_him]

Younger people often say that they think it unlikely they’ll receive a state pension. I think this is alarmism or scaremongering. I wouldn’t offer much hope to any political party whose election manifesto promised to end state pensions.

Life expectancy and rising population, is increasingly making the state pension unaffordable.

I strongly suspect, that in 20 years time, the political priorities of the current generation ,will be very different from ours.
I can see a situation where a state pension is not seen as a priority.

 

[nicko31]

Zero growth outlook, but deficit only £100BN and public services fully funded.

Definitely time for a tax cut