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Post by sheltonsalopian on Nov 17, 2022 10:10:45 GMT 1
Morning folks,
Can't help but speculate how bad the budget later today is going to be. Tax rises/Spending cuts galore.
From what I've managed to read online it seems the triple lock is being protected and benefits will also rise in line with inflation.
Makes you wonder where all the tax rises and spending cuts are going to come from though?
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Post by martinshrew on Nov 17, 2022 10:16:14 GMT 1
I'll be very interested in how this goes.
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Post by northwestman on Nov 17, 2022 10:32:58 GMT 1
If he doesn't increase defence spending by 3% then Wallace may well walk.
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Post by northwestman on Nov 17, 2022 10:55:54 GMT 1
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Post by northwestman on Nov 17, 2022 11:01:26 GMT 1
Ian Blackford, the SNP's leader in Westminster, said "optimistic signs" on inflation from the Bank of England mean the Chancellor does not need to bring in the "austerity measures" expected in today’s Autumn Statement.
Mr Blackford told Sky News: "I think it really brings into question a lot of the austerity measures that we know that the Chancellor is going to bring in today. He doesn’t need to be doing this, it’s a political choice as much as anything else."
He called for windfall taxes on companies that "have benefited from high energy prices" and said a tax on share buybacks "would bring in £11 billion".
He added that the economy was "smaller because of Brexit" and that "we should be honest about its impact".
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Post by northwestman on Nov 17, 2022 11:20:54 GMT 1
Apparently, the worst of the cuts are likely to be back loaded until after the general election.
Utterly cynical ploy if true.
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Post by Dancin on Nov 17, 2022 12:58:48 GMT 1
From the BBC Live Feed -
"There's to be a huge increase in windfall taxes. Oil and gas companies' tax will increase from 65% to 75% of profits on UK operations - till March 2028 - extended from December 2025.
Plus, there'll be a 40% tax on profits of older renewable and nuclear electricity generation.
Together that'll raise £14bn next year alone. That's a big number.
It'll be interesting to see how Labour respond to that."
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Post by sheltonsalopian on Nov 17, 2022 13:10:48 GMT 1
UK forecasts suggest a 177 billion deficit this year - how on earth has that happened? I know we've ran at a deficit historically but that amount is mental.
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Post by martinshrew on Nov 17, 2022 13:21:11 GMT 1
Sick to death of these cost of living payments. I don't begrudge the disabled, but the majority of pensioners and those on inflated benefits do not require it.
The working population penalised yet again. I hope the benefits cheats are ratted out.
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Post by sheltonsalopian on Nov 17, 2022 13:28:05 GMT 1
Sick to death of these cost of living payments. I don't begrudge the disabled, but the majority of pensioners and those on inflated benefits do not require it. The working population penalised yet again. I hope the benefits cheats are ratted out. Indeed. Finding it hard to swallow a 10% rise in the state pension when cuts are being made everywhere else. Especially when I don't expect to get a state pension myself. |
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Post by staffordshrew on Nov 17, 2022 13:35:53 GMT 1
From the BBC Live Feed - "There's to be a huge increase in windfall taxes. Oil and gas companies' tax will increase from 65% to 75% of profits on UK operations - till March 2028 - extended from December 2025. Plus, there'll be a 40% tax on profits of older renewable and nuclear electricity generation. Together that'll raise £14bn next year alone. That's a big number. It'll be interesting to see how Labour respond to that." Especially as windfall taxes ike this were Labour's idea, months ago. |
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Post by martinshrew on Nov 17, 2022 13:37:18 GMT 1
- Pensioners are getting 10%
- Those on benefits are getting 10%
- There's more handouts to both of the above
All paid for by the working population who's incomes are being squeezed. The pensioners in particular are taking the p**s.
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Post by northwestman on Nov 17, 2022 13:37:20 GMT 1
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Post by ssshrew on Nov 17, 2022 13:51:30 GMT 1
I think those who are moaning about pensioners are forgetting the possible age range of traditional Tory voters! Cynical - moi!??
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Post by sheltonsalopian on Nov 17, 2022 14:01:01 GMT 1
I think who are moaning about pensioners are forgetting the possible age range of traditional Tory voters! Cynical - moi!?? There's an argument that the British state pension isn't exactly that generous compared to other nations but in a time where everyone else is being asked to tighten their belts seems a bit unfair to give a big demographic 10.1%! |
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Post by Deleted on Nov 17, 2022 14:05:49 GMT 1
More or less every working class employee in any industry will be receiving a pay increase of less than inflation (if they’re lucky, some will get nothing at all). So not sure why pensioners and the unemployed also don’t have to make a small sacrifice. But then we know the media and opposition would’ve been up in arms, as they were a month ago when Truss was pressured into confirming her commitment to the triple lock.
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Post by ssshrew on Nov 17, 2022 14:08:19 GMT 1
I think who are moaning about pensioners are forgetting the possible age range of traditional Tory voters! Cynical - moi!?? There's an argument that the British state pension isn't exactly that generous compared to other nations but in a time where everyone else is being asked to tighten their belts seems a bit unfair to give a big demographic 10.1%! As I say - cynical me? Surely not! They know they will have to fight hard in a lot of constituencies next time around so best to keep the traditional voter well on side. |
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Post by northwestman on Nov 17, 2022 14:11:24 GMT 1
I think who are moaning about pensioners are forgetting the possible age range of traditional Tory voters! Cynical - moi!?? 10.1% increase in both my state and private pensions, extra £300 winter fuel allowance. But I'm certainly not voting Tory. |
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Post by northwestman on Nov 17, 2022 14:15:16 GMT 1
Even for us pensioners, the freezing of personal tax allowances for 6 years hits those on private pensions.
And there's little doubt that Council Tax will be going up.
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Post by staffordshrew on Nov 17, 2022 14:21:03 GMT 1
- Pensioners are getting 10% - Those on benefits are getting 10% - There's more handouts to both of the above All paid for by the working population who's incomes are being squeezed. The pensioners in particular are taking the p**s. First rule of those of modest means: Don't fight amongst yourselves, fight for yourself.
This "It's not fair, x group are getting more than my group" just plays right into our paymaster's hands.
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Post by staffordshrew on Nov 17, 2022 14:24:46 GMT 1
Even for us pensioners, the freezing of personal tax allowances for 6 years hits those on private pensions. And there's little doubt that Council Tax will be going up. Cutting the amount of the tax threshold on dividends from £2000 to £1000 and massive cuts in the capital gains tax threshold also hit pensioners supplementing their income with the shares they have built up in savings schemes or from their business. |
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Post by martinshrew on Nov 17, 2022 14:37:13 GMT 1
Even for us pensioners, the freezing of personal tax allowances for 6 years hits those on private pensions. And there's little doubt that Council Tax will be going up. Cutting the amount of the tax treshold on dividends from £2000 to £1000 and massive cuts in the capital gains tax threshod aso hit pensioners suppementing their income with the shares they have built up in savings schemes or from their business. My heart bleeds. |
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Post by staffordshrew on Nov 17, 2022 14:49:00 GMT 1
Cutting the amount of the tax threshold on dividends from £2000 to £1000 and massive cuts in the capital gains tax threshold also hits pensioners supplementing their income with the shares they have built up in savings schemes or from their business. My heart bleeds. United we stand, divided we fall. |
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Post by martinshrew on Nov 17, 2022 15:05:25 GMT 1
United we stand, divided we fall. Yeah we're really united aren't we? Pensioners? 10% + handouts Benefits? 10% + handouts Working population? 5% + **** all if they're lucky. |
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Post by staffordshrew on Nov 17, 2022 15:12:14 GMT 1
United we stand, divided we fall. Yeah we're really united aren't we? Pensioners? 10% + handouts Benefits? 10% + handouts Working population? 5% + **** all if they're lucky. Benefits do go to many in the working popuation too you know - tax credits, etc. Many pensioners are also working these days, especially if they rent.
Upward pressure from benefits and minimum wage helps the rest of the working population press for bigger rises.
As I said, united we stand, divided we fall.
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Post by Deleted on Nov 17, 2022 15:27:19 GMT 1
Yeah we're really united aren't we? Pensioners? 10% + handouts Benefits? 10% + handouts Working population? 5% + **** all if they're lucky. Benefits do go to many in the working popuation too you know - tax credits, etc. Many pensioners are also working these days, especially if they rent.
Upward pressure from benefits and minimum wage helps the rest of the working population press for bigger rises.
As I said, united we stand, divided we fall.
Pensioners = +10.1% + minimum of £300, with some getting £1,350 Benefits = +10.1% + some getting up to £1,050 Minimum wage = +9.7% Firefighters = +5% NHS = +4.75% Teachers = +5% Divide and rule. It's the Tory way. |
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Post by The Shropshire Tenor on Nov 17, 2022 15:53:37 GMT 1
Old age pensions were introduced in 1909, they were paid to people over 70 years old. The average life expectancy was 41.5 years and there were 12 working people for every pensioner. This last stat I haven’t been able to verify, but I would have thought that the ratio of working people to pensioners was much higher.
Now average life expectancy is in the mid 80’s and there are 2.5 working people to each pensioner.
We have an aging population with lots of job vacancies and young people trying to come here. An obvious solution suggests itself.
A problem I have is with universal benefits. I don’t need a State pension, heating allowance, help with energy bills etc, but I may well need social care before too long. I know that targeting benefits is difficult but I would prefer my benefits to go to social care and the NHS which, unless I’m very lucky, I will need.
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Post by davycrockett on Nov 17, 2022 15:59:58 GMT 1
The social care cap delayed by 2 years has cost the average person in care self funding around £50k from their savings. |
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Post by davycrockett on Nov 17, 2022 16:07:54 GMT 1
Benefits do go to many in the working popuation too you know - tax credits, etc. Many pensioners are also working these days, especially if they rent.
Upward pressure from benefits and minimum wage helps the rest of the working population press for bigger rises.
As I said, united we stand, divided we fall.
Pensioners = +10.1% + minimum of £300, with some getting £1,350 Benefits = +10.1% + some getting up to £1,050 Minimum wage = +9.7% Firefighters = +5% NHS = +4.75% Teachers = +5% Divide and rule. It's the Tory way. The average public sector salary is £26,606 (not enough) whist the average state pension is £9626 so hardly a straight percentage comparison. So 5% increase would be £1330 for workers £962 for pensioners. |
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Post by frankwellshrews on Nov 17, 2022 18:40:33 GMT 1
Pensioners = +10.1% + minimum of £300, with some getting £1,350 Benefits = +10.1% + some getting up to £1,050 Minimum wage = +9.7% Firefighters = +5% NHS = +4.75% Teachers = +5% Divide and rule. It's the Tory way. The average public sector salary is £26,606 (not enough) whist the average state pension is £9626 so hardly a straight percentage comparison. So 5% increase would be £1330 for workers £962 for pensioners. Percentage terms are irrelevant though. Pensioners will have benefitted from the opportunity to buy and pay off property far more cheaply than somebody trying to make it on 26 grand in this day and age. Farcical. |
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