The Budget
- Thread starter Carol M
- Start date
Been looking forward to the announcement on motorists. Steady trends indicate a small rise in the VED and continued rise in the fuel duty.. we can only hope this is the extent of it all!
If you're in the £460 VED band, as most M owners are, I wouldn't be surprised if we're paying £500+ next year.
Fuel duty is a tricky one - fuel prices are certainly linked to economic growth but when you've just given a big income tax break as others have already noted, it has to be paid for somewhere else.
Fuel duty is a tricky one - fuel prices are certainly linked to economic growth but when you've just given a big income tax break as others have already noted, it has to be paid for somewhere else.
I'm a little stumped on the fuel tax and revenue.
Last year in the region of 10million litres of fuel were purchased due to people priced out the market.
It's fair to say at least £1 of fuel is tax, so that's 10 million they lost out on.
With more and more people buying Eco deisels they are filling up less, and Road tax for these types of cars is either free or £30 a year. So people pay less car tax, fill up less often. All means less money for government?
Last year in the region of 10million litres of fuel were purchased due to people priced out the market.
It's fair to say at least £1 of fuel is tax, so that's 10 million they lost out on.
With more and more people buying Eco deisels they are filling up less, and Road tax for these types of cars is either free or £30 a year. So people pay less car tax, fill up less often. All means less money for government?
Rich-hill said:
Don't you mean billion not million?
Ah but you see when the government work out that the VED/fuel duty/company car tax haul starts to fall due to higher MPG/lower emissions they just change the goal posts.
Think in 30 years time you WON'T be taxed for using a zero-emissions (at the point of use) electric vehicle?
Breaker said:
I agree. Taking away child benefit for middle-income families, increasing lower tax threshold for those on lower annual income. Robbing Peter to pay Paul in my eyes.
Glad to help those on low incomes BUT, penalising those who work hard for their money and taking away child benefit is NOT in the spirit of things. When does the budget come out?
ah okay, I will have my eyes peeled Carol M.Need to help first time buyers as well. What would you like from the budget?
The budget needs to persuade people to loosen the purse strings and start spending (both companies and individuals). I read somewhere that the balance sheets of UK companies are stuffed with more hoarded cash than ever before at the moment. They are sitting on cash rather than investing capital because of economic uncertainty. Private individuals are the same (paying down credit cards/mortgages) with spare cash. It's not doing the economy any good at all.
So...any budget that creates conditions for those with money to spend some of it, is what I'm looking for. Not sure tax breaks for the lowest paid and keeping a 50% top rate is going to do that tbh.
So...any budget that creates conditions for those with money to spend some of it, is what I'm looking for. Not sure tax breaks for the lowest paid and keeping a 50% top rate is going to do that tbh.
Looks like we've avoided any ripoff VED increases, inflation increases only. No doubt RPI will become the measure of choice rather than CPI as it's higher, nice to be able to pick and choose!
No additional fuel duty than previously in place (...time to see what's already in the pipeline from last year) Also nice to hear that fuel price escalator (above inflation) is discarded unless oil drops to c.£45/$70 per barrel.
Seems very business friendly too.
No additional fuel duty than previously in place (...time to see what's already in the pipeline from last year) Also nice to hear that fuel price escalator (above inflation) is discarded unless oil drops to c.£45/$70 per barrel.
Seems very business friendly too.
Adamski said:
Mate no chance on this budget that is a massive debate and is a huge one there will be some serious hell up if they did jezzzz
Not to mention bloody unfair for everyone! honestly they have no idea!, great a cabinet of minsters of which 80% are millionaires.. Well ground then to local and national issues... "Career politics so have you ever had a real job Mr Minster errrrrr no"
They want people to save and pay towards their retirement and rely less on the state yet they want to take away all the benefits of doing so!! ....
Imagine if they did … what’s next bloody Isa’s! 0% tax relief only if you earn under 20k…. if so am off
Edit : errrr slight rant there but all true could debate for hours on this
Paza3 said:Adamski said:
Mate no chance on this budget that is a massive debate and is a huge one there will be some serious hell up if they did jezzzz
Not to mention bloody unfair for everyone! honestly they have no idea!, great a cabinet of minsters of which 80% are millionaires.. Well ground then to local and national issues... "Career politics so have you ever had a real job Mr Minster errrrrr no"
They want people to save and pay towards their retirement and rely less on the state yet they want to take away all the benefits of doing so!! ....
Imagine if they did … what’s next bloody Isa’s! 0% tax relief only if you earn under 20k…. if so am off
Edit : errrr slight rant there but all true could debate for hours on this
He avoided it
Pensions safe for now... 
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Oh no, not austerity.