[News] The official match day thread - The Autumn Budget

[sparkie]

Im not nearly clever enough to know whether the budget is good, bad or indifferent. What I did notice though, is that in her TWENTY minute response, not a single alternative policy, tax rate, or idea was mentioned. Its all very well saying that the budget is bad, thats easy to do, but to not give a single alternative leads one to think that the Labour Party simply don't have any, that is quite a concern for any of us who are looking for a viable alternative to the current mob

Not a concern at all.

No one needs to lock in their vote today - perfectly fine to wait until an election is scheduled and examine the proposed policies then.

It's understandable that any party "keeps their powder dry" until then.

 

[Barnet Seagull]

Im not nearly clever enough to know whether the budget is good, bad or indifferent. What I did notice though, is that in her TWENTY minute response, not a single alternative policy, tax rate, or idea was mentioned. Its all very well saying that the budget is bad, thats easy to do, but to not give a single alternative leads one to think that the Labour Party simply don't have any, that is quite a concern for any of us who are looking for a viable alternative to the current mob

I don't think it's a concern. The budget was a) not something it is possible to be fully prepared for given it is entirely confidential until released and b) it is broadly what Labour would have done. Lets see in next weeks PMQs after they've done their own analysis

 

[The Clamp]

I'm in retail and employ a lot of summer staff, when I can get them. All on minimum wage and to be honest, the amount of work they do they aren't even worth that. But before you shout at me, I've a 14 YO on £5 an hour because she's worth it and 18 YO's on £9.50 otherwise they say it's not worth getting out of bed, which some don't do anyway.

I think I that says more about your recruitment skills than the general attitude of young working people.

Perhaps if you paid more than the absolute minimum you can legally get away with, you might attract some higher calibre staff.

My father said never take a job for minimum wage. It’s a sure sign the boss doesn’t give a shit about employees.

“I pay dogshit and can’t understand why I can’t get good staff”

You don’t see the possible connection?

 

[beorhthelm]

Im not nearly clever enough to know whether the budget is good, bad or indifferent. What I did notice though, is that in her TWENTY minute response, not a single alternative policy, tax rate, or idea was mentioned. Its all very well saying that the budget is bad, thats easy to do, but to not give a single alternative leads one to think that the Labour Party simply don't have any, that is quite a concern for any of us who are looking for a viable alternative to the current mob

they'll tax non-doms was about the only thing i picked up. it was long party political broadcast, indicative they dont really object to anything announced.

 

[TomandJerry]

 

[nicko31]

Frozen tax allowances until 2028 and reduced 45% threshold to 125k. Various changes re inheritance tax, dividends etc. Increased windfall taxes.

Freezing tax free allowances till 2028 is going to hit the poor particularly hard, hopefully they will be rescued in a couple of years.

Tax breaks for fossil fuel investment remains, the windfall tax in not fit for purpose. Why not make a condition these profits need to be put into renewables, missed opportunity...

 

[The Clamp]

Freezing tax free allowances till 2028 is going to hit the poor particularly hard, hopefully they will be rescued in a couple of years

Could you explain what this means, please?

 

[Bold Seagull]

Could you explain what this means, please?

I'm assuming he means that if you don't raise the threshold of which you pay tax, that hits the poor particularly hard because on a low wage a rise in your personal allowance makes a huge difference. To have that frozen for 4 years while costs and inflation rise and wages don't, is basically a tax hike.

As an example, as a shop assistant on minimum wage, and full time you earned say £17,570k per year, you only pay tax on £5k. If you don't get a pay rise and the personal tax allowance is frozen, then in real terms that is a cut in pay year on year.

 

[The Clamp]

I'm assuming he means that if you don't raise the threshold of which you pay tax, that hits the poor particularly hard because on a low wage a rise in your personal allowance makes a huge difference. To have that frozen for 4 years while costs and inflation rise and wages don't, is basically a tax hike.

As an example, as a shop assistant on minimum wage, and full time you earned say £17,570k per year, you only pay tax on £5k. If you don't get a pay rise and the personal tax allowance is frozen, then in real terms that is a cut in pay year on year.

Thank you

 

[Audax]

There are emissions cleanliness tests in MOTs already !

My rust bucket jalopy managed to fail on it. Illegal to drive it until fixed. Lol.

Good (that it already exists). Makes it that much easier for them to implement additional VED levy on poor emissions (but retain the existing "you've failed" threshold - so sliding-scale VED levy on emissions between the failure threshold and the nominal "as new" emissions).

 

[nicko31]

...

 

[Pavilionaire]

Im not nearly clever enough to know whether the budget is good, bad or indifferent. What I did notice though, is that in her TWENTY minute response, not a single alternative policy, tax rate, or idea was mentioned. Its all very well saying that the budget is bad, thats easy to do, but to not give a single alternative leads one to think that the Labour Party simply don't have any, that is quite a concern for any of us who are looking for a viable alternative to the current mob

That's not true, is it? Rachel Reeves specifically mentioned that Non-Dom tax status has STILL not changed and that Labour would make everyone resident here pay tax on worldwide income here in UK. That's £3 billion right there.

Labour would still apply windfall tax on energy companies more aggressively than the Tories, no getting rid of cap on banker's bonuses / private equity. Labour have also supported onshore wind, solar and home insulation for a decade while the Tories have dragged their heels with disastrous consequences.

At least Labour are reasonably consistent. Rishi campaigned in August on a platform of lower taxes, yet today his Chancellor has just raised the tax burden to its highest level since the end of WW2.

 

[Titanic]

I'm assuming he means that if you don't raise the threshold of which you pay tax, that hits the poor particularly hard because on a low wage a rise in your personal allowance makes a huge difference. To have that frozen for 4 years while costs and inflation rise and wages don't, is basically a tax hike.

As an example, as a shop assistant on minimum wage, and full time you earned say £17,570k per year, you only pay tax on £5k. If you don't get a pay rise and the personal tax allowance is frozen, then in real terms that is a cut in pay year on year.

If you are being paid the National Living Wage, it will be increased from £9.50 an hour for over-23s to £10.42 from April next year. Most are facing paying more tax, high inflation, and high energy bills - and outside of pensions, benefits and the NLW, incomes are unlikely to rise at the same rate as inflation.

 

[Seecider]

So less than 5% fraudulent on a scheme which supported and protected 11.7 million jobs at very short notice.
I'm absolutely no fan of this government and no fan of wasting taxpayer money and am absolutely certain that this wasn't a deeply thought out and costed solution. I do feel that in this situation taking a risk with a looser scheme was appropriate in getting money to those in need quickly and overall the scheme has been beneficial to the British people.

The furlough scheme was a good scheme (given how speedily it was set up), with some obvious anti fraud stuff in it. No comparison to the bounce back loan scheme, set up with more time, but which was left wide open to fraud,

 

[Bold Seagull]

If you are being paid the National Living Wage, it will be increased from £9.50 an hour for over-23s to £10.42 from April next year. Most are facing paying more tax, high inflation, and high energy bills - and outside of pensions, benefits and the NLW, incomes are unlikely to rise at the same rate as inflation.

Not sure where to start, it's like you've replied to my post by accident.

 

[Official Old Man]

I think I that says more about your recruitment skills than the general attitude of young working people.

Perhaps if you paid more than the absolute minimum you can legally get away with, you might attract some higher calibre staff.

My father said never take a job for minimum wage. It’s a sure sign the boss doesn’t give a shit about employees.

“I pay dogshit and can’t understand why I can’t get good staff”

You don’t see the possible connection?

Complete opposite. I do care about my staff. They get time off when they want, hours to suit and are never made to work hard. This past season I had one person who thought sitting down on the pavement ignoring customers and playing on their phone was the correct thing to do. Paying £15 an hour would I get better staff, no I think not. As mentioned, these are 18 yo's who should be on under £7 but get £9.50 from me. Take a look at McDonalds. Average wage for a server is £7.72 and they have to work hard.
No, I'm very good with my staff and treat them well.

 

[The Clamp]

Complete opposite. I do care about my staff. They get time off when they want, hours to suit and are never made to work hard. This past season I had one person who thought sitting down on the pavement ignoring customers and playing on their phone was the correct thing to do. Paying £15 an hour would I get better staff, no I think not. As mentioned, these are 18 yo's who should be on under £7 but get £9.50 from me. Take a look at McDonalds. Average wage for a server is £7.72 and they have to work hard.
No, I'm very good with my staff and treat them well.

Fair enough. Sorry if I insulted you.

 

[Paulie Gualtieri]

With at least £5bn in job retention scheme fraud alone, I would argue that whatever they based the risk on was shit! It was incompetence.

On SEISS, there was no requirement (in the first two tranches) for the SE to have lost a single days work through covid in order to claim. That was incompetence too. Not fraud because the way the scheme was drafted and the lack of any kind of thought meant that the claims were perfectly lawful. Estimated that bounceback loan fraud will easily exceed £1bn.

An HMRC unit set up to tackle Covid fraud is set to leave £3.3bn outstanding when it winds down in March 2023, campaigners have warned.

The Taxpayer Protection Taskforce, which was set up by Chancellor Rishi Sunak in March 2021, will be phased out, despite having collected less than 25 per cent of the money lost through misallocation of Covid funds.

HMRC's Covid fraud taskforce to leave billions unaccounted for - City AM

An HMRC unit set up to tackle Covid fraud is set to leave £3.3bn outstanding when it winds down in March 2023, campaigners have warned. The Taxpayer An HMRC unit set up to tackle Covid fraud is set to leave £3.3bn outstanding when it winds down in March 2023, campaigners have warned.

www.cityam.com

The private compliance and financial crime sectors warned UKG that this would happen if you reduce CDD levels at on boarding but were pretty much told that by implementing more controls will delay funds being sent out.

We’ve already got the controls in place though broadly, don’t care get the money out now, don’t worry we the UKG are guarantors it’s fine.

Although it’s not fine, it’s tax payers money that we are all having to pay more for due to this cavalier attitude MPs have.

 

[Thunder Bolt]

She started with a lie, was proved wrong and then came back with another lie.

 

[bluenitsuj]

Freezing tax free allowances till 2028 is going to hit the poor particularly hard, hopefully they will be rescued in a couple of years.

Tax breaks for fossil fuel investment remains, the windfall tax in not fit for purpose. Why not make a condition these profits need to be put into renewables, missed opportunity...

I also read somewhere that with the tax allowances remaining frozen for a number of years, there is a risk that the state pension could eventually rise above the tax allowance, meaning we would have to pay tax on the state pension.