Budget ....
- Thread starter pvr
- Start date
Not a lot surprising so far (at least to me) except cheaper beer and CGT gone up less than I expected as I thought they'd match the rates to Income tax. Also nice to see the tax thresholds being unfrozen next year - the buggers got £120 out of me this year, although most of that was CGT.
Otherwise no big surprises, increased Stamp Duty on second homes, SIPPs coming into the Estate for IHT, clamping of 'business' investments exemption on IHT, non-dom status changed, and none of the waffled about rubbish like raids on Pensions and ISAs that would penalise people who didn't spend their money instead of saving enough to retire at 52
Employer NI seems to be the big earner.
Otherwise no big surprises, increased Stamp Duty on second homes, SIPPs coming into the Estate for IHT, clamping of 'business' investments exemption on IHT, non-dom status changed, and none of the waffled about rubbish like raids on Pensions and ISAs that would penalise people who didn't spend their money instead of saving enough to retire at 52
Employer NI seems to be the big earner.
The rise in employers NI contributions is a disaster for me though. I'm a local government officer and we can't pass that on to our customers so it'll have to come out of existing budgets that are already stretched to the max.
buzyg said:
Considering it has gone from circa 28% to now over 98% of GDP in the last 20 years, I'd say it was already here
The minimum wage will also be a big problem. 5 years ago a Band E Officer at most places (engineering graduate, lighting/buidling control/ etc technician) was on that money. Now it is cleaners and streetsweepers. Local Govt was already struggling to recruit, paying graduates £30 a week more than burger flippers is not going to help.
How come? You don't have to make a profit in the public sector. Your 'customers' are also not really customers are they? They are a captive audience.Rockhopper said:
But let's not go down the rabbit hole of public sector VS the rest of us (who pay for the public sector).
Pondrew said:How come? You don't have to make a profit in the public sector. Your 'customers' are also not really customers are they? They are a captive audience.Rockhopper said:
But let's not go down the rabbit hole of public sector VS the rest of us (who pay for the public sector).
Because it won't have been budgeted for so it'll have to come from money that would normally be used to provide other non statutory council services. McDonalds could add it to their prices.
I'm lucky, in that my contract is up for renewal at the moment, and I tend to stipulate a daily rate for the next 3 years (as long as the contract is continuous). I'm now at the end of my 3 year 'fixed price', so was waiting to see how much I'd have to add just to be in the same position as I was this time in 2021.
Rockhopper said:
Local Government has been done for for years. Glad I got out. Always been an easy target so now left with underpaid, understaffed departments. They will continue to go bankrupt.
Biggest mistake was treating Local Government Authorities like the private sector encouraging self funding.
Tim.
Absolutely stupid move IMO. It will encourage people to not bother with pensions which will damage the economy hugely.True-Blue said:
There goes 40% of my hard earned savings robbed by the Government when I croak. IHT was bad enough before (it's a tax on dying), but just got worse.
But then, that is what left-wing Governments do; take it all from those who have been fiscally responsible all their lives and give it to those who spend every last penny they have then hold their hands out.
When people vote for Labour just because they are fed up with the Tories, I wish they would think it through more. Cos THIS is what happens when they don't. :x
