[Politics] Sunak and his Spring statement.

[Pavilionaire]

Rishi's tax-cutting credentials:

Income tax: Unchanged but pledge to reduce by 1p in over 2 years time.
NI: Up 1.25%. At record high.
VAT: Unchanged. At record high.
Corporation tax: Rising from 19% to 25% in a year's time (with some relief for microbusinesses)
Inheritance Tax and Capital Gains Tax: Unchanged. CGT ridiculously low with top rates of 20% on share gains, 28% on land and property gains.

No mention of "those with the broadest shoulders taking the bulk of the burden". And while energy prices will hit us all it will hit the poor the hardest for whom energy is a larger percentage spend of their household income.

A fantastic statement if you are wealthy as bullets dodged during time of economic crisis. Looking after their own while claiming to be "levelling up".

 

[rippleman]

Furlough was not cheap. Still staggering that a Tory government provided the level of support they did. I'd be surprised if even Corbyn had done what they did. Right thing for the economy and jobs but we will be paying for that for the next 30 years.

Wonder what it would have been if:-

- the government hadn't wasted 10s of millions on dodgy PPE contracts

- the government hadn't allowed SEISS payments to be made to self-employed individuals whose businesses hadn't lost out through covid (tranches 1 & 2)

- the Treasury and HMRC had implemented safeguards against fraud in all the covid support schemes (estimated by the FT at around £15bn)

You are right. Furlough was not cheap. But it could have been markedly less expensive but for incompetent ministers and civil servants.

 

[pb21]

have to say promise for 1p off income tax, when raising NI by similar, is pretty pointless exercise. the only substantial positive seems to be the deficit will be reduced, by virtue of not spending much if any of the excess revenues.

Wont a lower income tax affect pensioners and other income (rent etc.) not generated by actual work?

Essentially workers are being taxed more to cover the loss of tax revenue on non work related income; is that right?

 

[pb21]

Very good spring statement in my opinion.[emoji1319][emoji1319]

 

[rippleman]

Very good spring statement in my opinion.[emoji1319][emoji1319]

Unless you hadn't realised, your opinion counts for pretty much SFA round these parts.

Care to comment on your idol Johnson giggling and gurning whilst Sunak was speaking about the dire situation in Ukraine?

 

[Weststander]

Prescott tried a direct affordable home programme (rather than stupid hand-outs approach). homes for £60k build cost with gov providing land or something. problem was first the industry couldnt really do it so cheap (dubious, but thats what they said) and the resale value rose to the local market price. so someon fortunate enough to get in for 60-70k were selling 5 yrs later for 260k or whatever.

still it was in the right direction. basic problem is we need to build more, be it for ownership or rent. if every town and village had 10% housing added the housing shortage would disappear and be absorbed by infrastructure. but instead we have large developments placed on a few towns without adequate infrastructure, protecting everything and every development is objected to creting a multi-year planning process.

A bit like handing new affordables in Devon and Cornwall to genuine locals. A great idea.

Then eventually they sell to outsiders for a windfall. Needs to be some control.

On your second point, yes simply that, millions more new homes are needed.

 

[Baker lite]

Unless you hadn't realised, your opinion counts for pretty much SFA round these parts.

Care to comment on your idol Johnson giggling and gurning whilst Sunak was speaking about the dire situation in Ukraine?

Yes, I did notice, poor judgment and timing in my worthless opinion, the cameras caught it perfectly, however he was probably chuckling at Sir Kneel or Ange, that’s what goes on in Westminster I’m afraid , both benches spend most of the time pointing and laughing at each other.
For me though, this was a good spring statement. My opinion maybe worthless.. my vote is not.

 

[doogie004]

I would have preferred far more off fuel duty.

£0.05 nowhere near enough.

Absolutely this .. A real Piss take that to be honest, you wont even see especially as price of a barrel has shot up again today


Sent from my iPhone using Tapatalk

 

[Thunder Bolt]

Wont a lower income tax affect pensioners and other income (rent etc.) not generated by actual work?

Essentially workers are being taxed more to cover the loss of tax revenue on non work related income; is that right?

Many pensioners don't pay tax as they don't receive £12500 per annum.

 

[pb21]

Many pensioners don't pay tax as they don't receive £12500 per annum.

True, but no non-working pensioner pays NI. The proposed drop in Income Tax will go down very well with those who do have pensions above the threshold and other income too.

 

[nicko31]

Wonder what it would have been if:-

- the government hadn't wasted 10s of millions on dodgy PPE contracts

- the government hadn't allowed SEISS payments to be made to self-employed individuals whose businesses hadn't lost out through covid (tranches 1 & 2)

- the Treasury and HMRC had implemented safeguards against fraud in all the covid support schemes (estimated by the FT at around £15bn)

You are right. Furlough was not cheap. But it could have been markedly less expensive but for incompetent ministers and civil servants.

The waste during the pandemic was obscene, add on the cost of red tape to the economy via self imposed trade sanctions, add to that the headwind of rising borrowing and interest costs and its little surprise Sunak is constrained what he can do

 

[Thunder Bolt]

True, but no non-working pensioner pays NI. The proposed drop in Income Tax will go down very well with those who do have pensions above the threshold and other income too.

If it happens. It's just a pledge at the moment for 2024. I can remember the Tory pledge in their manifesto about the Triple Lock on pensions (now destroyed)

Forecast for disposable income ie food and energy

[tweet]1506622073707405321[/tweet]

 

[Herr Tubthumper]

Yes, I did notice, poor judgment and timing in my worthless opinion, the cameras caught it perfectly, however he was probably chuckling at Sir Kneel or Ange, that’s what goes on in Westminster I’m afraid , both benches spend most of the time pointing and laughing at each other.
For me though, this was a good spring statement. My opinion maybe worthless.. my vote is not.

Go on, I’ll bite. How do you benefit from this budget then?

 

[WATFORD zero]

Yes, I did notice, poor judgment and timing in my worthless opinion, the cameras caught it perfectly, however he was probably chuckling at Sir Kneel or Ange, that’s what goes on in Westminster I’m afraid , both benches spend most of the time pointing and laughing at each other.
For me though, this was a good spring statement. My opinion maybe worthless.. my vote is not.

Who did you vote for then ?

You may have to ask someone that has a passing interest in the parliamentary Conservative party....I would not vote for them ***** all the time I have a hole in my arse.

You seem a little confused, or possibly just simple trolling again

 

[BBassic]

I give it a week or so before people start the whole "can't afford to eat but can afford a phone" schtick.

 

[Baker lite]

Who did you vote for then ?



You seem a little confused, or possibly just simple trolling again

I haven’t voted in a general election since 97.
I see you didn’t take note of BryNylons post about petty vendettas.[emoji849]

 

[Justice]

The level of furlough that a Conservative Govt. provided was simply staggering - and as you say the right thing to do for so many jobs and industries.

Shame so many Companies (and individuals) took the p**s and committed fraud - and got away with it - a shame too that the Govt. seems completely disinterested in attempting to get any of it back.

It will take a generation to pay back.

The companies their mates owned did more then take the piss I would call it active fraud of public money, all swept under carpet.

 

[Kinky Gerbil]

The waste during the pandemic was obscene, add on the cost of red tape to the economy via self imposed trade sanctions, add to that the headwind of rising borrowing and interest costs and its little surprise Sunak is constrained what he can do

There was massive waste and I imagine some was avoidable/able to recover

We hadnt left the EU when we were purchasing stuff at the start, plus the whole world was buying the same stuff - prices rocketed - people calling for them to buy it what ever the cost.

Paying back the pandemic is going to take 30 years plus

 

[loz]

I give it a week or so before people start the whole "can't afford to eat but can afford a phone" schtick.

I would suggest that anyone under 40 knows nothing else and these days of flexibility in the work place a mobile phone is all but a necessity.

So I think that sort of talk is a bit silly IMHO.

Or have I been whooshed

 

[Baker lite]

Go on, I’ll bite. How do you benefit from this budget then?

At some point the UK is going have to pay for this pandemic, some say it will take 30 years, I believe we can double that to 60 years. Everyone moans about budgets/spring statement, call it what you like. Positives for Me? 5p off fuel is better than a kick in the Bollox, My wife, as a part time, low income worker now pays **** all in tax and NI, that goes someways to offset the increase in NI I will be paying. It ain’t perfect but it’s what we’re gonna have to put up with.