Budget 2014

[lost in london]

Can't see a thread already. Highlights so far:

- 10% tax on savings abolished

- Beer, scotch duty down

- Deficit gone by 2018 (really?)

- Cigrattes up

- Fixed odds terminals 25% tax increase, William Hill and others shares tumbling

- Financial firms' fines going to lifeboats, scouts and guides

 

[lost in london]

Some more:

- don't pay tax until you earn £10,500

- ISA limit increased to £15k

- Energy cost breaks for manufacturing companies

 

[Westdene Seagull]

You appear to have missed the key positive that will help anyone in work - 5% increase in the personal allowance.

EDIT - doh, too slow.

 

[lost in london]

You want more?

- Premium bonds will be more generous

- Higher rate tax threshold increase

- Fuel duty rise scrapped for Sep

- No NI for young workers

- Welfare cap

Looks like they've swooped on quite a few Labour policies, pretty popularist budget. Just wait for the welfare cuts to come...

 

[Superphil]

- Deficit gone by 2018 (really?)

Probably not as they won't win the next election.

 

[lost in london]

Expect scouts' woggles to be a lot more 'bling' this time next year. And no more twenty year old transits ferrying them around, limos for all.

 

[Steve Foster]

ISA limits increasing to £15,000 from 1 July & Cash & Stocks & Shares component being merged.

Nice one

 

[Deleted member 22389]

Ed Milliband now responding. Keeps going on about same old Tories, what about same old Labour Ed. Nothing will change under Labour. They will just be given an improving economy to screw up again, and they will keep giving away our money to people who don't deserve it.

 

[Leekbrookgull]

How the member for Doncaster North has the gaul to go on about poverty whilst living in Primrose Hill is beyond me.

 

[Westdene Seagull]

Ed Milliband now responding. Keeps going on about same old Tories, what about same old Labour Ed. The facts are nothing will change under Labour either. They will just be given an improving economy to screw up again and they can keep on giving away our money to people who don't deserve it.

I'm not sure how Millband can say that - unless you're a smoking gambler it is a reasonably positive budget.

 

[Taybha]

Early Leavers 10% increase on season tickets 2014-15 season .

 

[Grombleton]

Nothing on Energy. I knew they'd not have the guts to do anything, but it doesn't make it any better.

 

[lost in london]

Probably not as they won't win the next election.

Do you not think? All the OBR estimates (for what they're worth, they seem to change daily) are pointing in the right direction:

2014: growth of +2.7%, compared with +2.4% in the autumn statement

2015: +2.3%, compared with +2.2% in the autumn statement

2016: +2.6% compared to +2.6% in the autumn statement

2017: +2.6% compared to +2.7% in the autumn statement

2018: +2.5% compared to +2.7% in the autumn statement



The new deficit forecasts, versus the OBR forecasts in December:

2013-14: 6.6% of GDP, compared with 6.8% in the autumn statement

2014-15: 5.5% compared with 5.6% in the autumn statement

2015-16: 4.2% compared with 4.4% in the autumn statement

2016-17: 2.4% compared with 2.7% in the autumn statement

2017-18: 0.8% compared with 1.2% in the autumn statement

2018-19: A 0.2% surplus, compared with a 0.1% surplus in the autumn statement


And here’s the deficit forecasts in pounds, lower in every year than the OBR’s forecasts in December, and a surplus in five years.

2013-14: £108bn, compared with £111bn in the autumn statement

2014-15: £95bn, compared with £96bn in the autumn statement

2015-16: £75bn, compared with £79bn in the autumn statement

2016-17: £44bn, compared with £51bn in the autumn statement

2017-18: £17bn, compared with £23bn in the autumn statement

2018-19: A surplus of £5bn, compared with a surplus of £2.2bn in the autumn statement


Will be interesting to see Miliband's reply. Welfare cap and cuts to come, plus tories pinching some labour policies are surely what he will focus on.

 

[MattBackHome]

My God Miliband is awful isn't he.

 

[Deleted member 22389]

I'm not sure how Millband can say that - unless you're a smoking gambler it is a reasonably positive budget.

There going to do what they can to put doubt in peoples minds. Just use the old Rich vs Poor argument. Doesn't work with me, because I am neither rich or poor, I'm in the middle like a lot of people. I don't like the Tories but they are damn sight better than those bunch of clowns. I'm honestly dreading another Labour government. Let's hope we don't get the same show next time, if we do they will finish off our country. Who do Labour exactly appeal too these days?

 

[lost in london]

Nothing on Energy. I knew they'd not have the guts to do anything, but it doesn't make it any better.

They're throwing money at energy intensive industries, clearly kicking out the environmental policies, greenest ever government pledges. Didn't see anything about investing in fracking / reducing household energy costs.

 

[fruitnveg]

My God Miliband is awful isn't he.

Yes. He looked all at sea while the Budget speech was being delivered and has no answers now that it's done. Useless.

I actually thought that was a fairly positive budget, all things considered. Not sure I rate the token penny off a pint; though the ISA changes are nice.

 

[Deleted member 22389]

How about the corporations and rich elite? They're the guys with all the money, this budget is just distracting everyone from the fact that the government no intention from getting money from those who have disproportionate amounts of it.

This is all just smoke and mirrors, people naturally think "how does this budget effect me?" rather than seeing the bigger picture. This will win them lots of votes and the ever increasing problem of social and economic inequality will continue to escalate.

And it would be the same with Labour in my opinion.

 

[vegster]

Excellent, I can now invest £15 K in my ISA annually , only one small problem.