July 2015 budget

[Seagull27]

Interesting idea from Caroline Lucas on inheritance tax:

“The level of the tax should depend on the wealth of the recipient, not the donor, so that, for example, all bequests to individual recipients who have less than around £200,000 should be tax free. This would encourage people to spread their wealth more widely.”

http://www.carolinelucas.com/latest/caroline-responds-to-‘cruel-and-counterproductive’-budget

Food for thought

 

[nicko31]

I'm pretty sure I read that the stamp duty changes would keep the income to the government the same. It made sense to update such an insane way to collecting tax. Now it's tapered like income tax. It was absurd that if you paid £250,0001 for a property you were punished with a stamp duty rate across almost the whole value.

Sadly the stamp duty reform cost £1 billion. An average Brighton house at £300k now attracts £4k, before it was £9k. Loss of £5k, a mindless giveaway that will only heat up the market further as well

 

[Bozza]

MPs are due a 10% pay increase this year and more likely than not to increase their salary by £19k over the next 4 years.

Quite sickening,

To go down this avenue is just lazy and/or stupid.

1. MPs from all sides oppose the pay rise being proposed by Independent Parliamentary Standards Authority (IPSA) with David Cameron saying: "On the issue of IPSA I’ve been very clear – it’s not the right approach, it’s not the right time, it’s not the right deal and they should think again. I am not the one proposing this increase, I’m the one opposing this increase. IPSA have time to think again, and so they should do that."

2. The current government are proposing a cut from 650 to 600 MPs - a move that will cut the total cost of our government.

But aside from all of this, is the current MPs salary of £67,000 really commensurate with the role? It strikes me as being very much on the low side.

 

[LamieRobertson]

To go down this avenue is just lazy and/or stupid.

1. MPs from all sides oppose the pay rise being proposed by Independent Parliamentary Standards Authority (IPSA) with David Cameron saying: "On the issue of IPSA I’ve been very clear – it’s not the right approach, it’s not the right time, it’s not the right deal and they should think again. I am not the one proposing this increase, I’m the one opposing this increase. IPSA have time to think again, and so they should do that."

2. The current government are proposing a cut from 650 to 600 MPs - a move that will cut the total cost of our government.

But aside from all of this, is the current MPs salary of £67,000 really commensurate with the role? It strikes me as being very much on the low side.

I agree...pay more and none of them will have an excuse to do any stuff on the side..we are asking them to run the shop after all (well at least give that impression)

 

[Dandyman]

No real surprises - handouts for the wealthy, cuts and falling living standards for the rest of us.

 

[Papa Lazarou]

No real surprises - handouts for the wealthy, cuts and falling living standards for the rest of us.

Is the world so black and white to you?

 

[LamieRobertson]

No real surprises - handouts for the wealthy, cuts and falling living standards for the rest of us.

My experience of budgets is to wait and see what pops out of the woodwork in the days after....often the devil is in the detail ...will be interesting to see what unfolds and the implications

 

[Dandyman]

Is the world so black and white to you?

A government of millionaires ruling for their own kind is very black and white to me and most of the country.

 

[El Presidente]

I agree...pay more and none of them will have an excuse to do any stuff on the side..we are asking them to run the shop after all (well at least give that impression)

Here the the recesses enjoyed by our elected officials

Summer 21 July 2015-7 September 2015 (47 days)
Conference 17 September 2015 12 October 2015 (25 days)
November 10 November 2015 16 November 2015 (6 days)
Christmas 17 December 2015 5 January 2016 (19 days)
February 11 February 2016 22 February 2016 (11 days)

Grand total 108 days of closed Parliament.

In addition to the £67,000 MPs are given a £20,000 rental allowance for a property in London, and a staffing allowance of £137-144,000 (which may include one relative), an office costs allowance of £25,000. First time MPs get a start-up allowance of £6,000 and those who lose an existing seat £46,000 as a settlement.

They are also allowed to hold directorships and roles within commercial organisations and trade unions.

 

[seagullsovergrimsby]

My experience of budgets is to wait and see what pops out of the woodwork in the days after....often the devil is in the detail ...will be interesting to see what unfolds and the implications

Agreed , we've only heard the outlines today , some of the more nasty stuff often gets revealed once the small print has been scrutinised.

 

[LamieRobertson]

Here the the recesses enjoyed by our elected officials

Summer 21 July 2015-7 September 2015 (47 days)
Conference 17 September 2015 12 October 2015 (25 days)
November 10 November 2015 16 November 2015 (6 days)
Christmas 17 December 2015 5 January 2016 (19 days)
February 11 February 2016 22 February 2016 (11 days)

Grand total 108 days of closed Parliament.

In addition to the £67,000 MPs are given a £20,000 rental allowance for a property in London, and a staffing allowance of £137-144,000 (which may include one relative), an office costs allowance of £25,000. First time MPs get a start-up allowance of £6,000 and those who lose an existing seat £46,000 as a settlement.

They are also allowed to hold directorships and roles within commercial organisations and trade unions.

Thats what i mean by other stuff ..knock it on the head..i'll stand by what i said before.

ps You've missed out the subsidised bar at THOC

 

[LamieRobertson]

Duplicate

 

[El Presidente]

[/B]

Thats what i mean by other stuff ..knock it on the head..i'll stand by what i said before

Understand where you are coming from, but suspect they will always do both. An experienced barrier is on half a million a year (or two thirds of what we are paying Chris O'Grady!)

 

[vegster]

I'm confused by this small snippet I saw in The Times today outlining the expected budget and it's implications...

Working Tax Credit : One proposal is returning Tax Credits to their 2003 value which would save about £5 Billion.

Pros : Reforms may give people an incentive to return to work and force companies to increase low salaries.

Cons : About 3.7 million Low-income families would lose £1,400.00 a year.

Just confused that an increasing pool of job seekers would somehow encourage companies to increase the wages they pay ? Surely a shortage of workers leads to an increase in salaries as employers compete to pick up better calibre employees from a dwindling supply ? I'm pretty sure Sainsbury's are not going to up their hourly rate by £2 an hour spontaneously.

 

[Westdene Seagull]

But aside from all of this, is the current MPs salary of £67,000 really commensurate with the role? It strikes me as being very much on the low side.

I sure as hell wouldn't do the job for that little.

 

[Not Andy Naylor]

No real surprises - handouts for the wealthy, cuts and falling living standards for the rest of us.

The only surprise was that that muppet Ian Duncan Smith made himself look even more of a d***head than usual. I wouldn't have thought it possible.

 

[brakespear]

I sure as hell wouldn't do the job for that little.

Maybe it depends on what you earn now - I reckon I would

 

[Not Andy Naylor]

But aside from all of this, is the current MPs salary of £67,000 really commensurate with the role? It strikes me as being very much on the low side.

Why else do you think the standard of politicians of all parties is so low? Can you imagine any other walk of life in which no-marks and empty suits like Cameron, Duncan Smith, Diane Abbott, Nick Clegg and the rest would command any attention whatever? Anyone with any talent is doing something that's either more lucrative or more fun.

 

[beorhthelm]

I'm confused by this small snippet I saw in The Times today outlining the expected budget and it's implications...

wage demands are currently suppressed due to many in the the work force getting a subsidy.

you are quite to observe that companies may not like increasing pay, nor does it increase the number of jobs available.

 

[narly101]

Awesome budget.