The Budget

[oldypigeonpopper]

1 hour ago, Flashman said:

It’s a hateful and vindictive budget, only benefiting those who evade taxation or those who are new enough to the country that don’t yet have assets easily traced by HMRC. 

First & second generation migrants probably won’t hit the IHT, CGT or business taxes threshold.  Those who flit  between other countries where they hold dual nationality or other family won’t worry about these taxes.  

The only people who will pay are the middle classes - those who own property to be handed down, farmers and those not rich enough to afford or benefit from estate planning. 

You were told by the Tories that Labour would do this, so don’t bleat now that Labour do what they always do - soak the rich (or nowadays, soak the “not poor”).

Hello, On a news report a lady stated, I wish i never voted for Labour !!!!

[oowee]

59 minutes ago, Rewulf said:

Apparently, beating their constituents up if they question their policies 

That was bang out of order. Took me back to Prescott.

[enfieldspares]

I am not at all a fan of inheritance tax it is a wicked tax. Thankfully, God Bless Bert Spriggs, my mother's estate avoided it as, being a War Widow, it was not subject to it through the carry over of the exemption from him, her first husband who was killed in March 1944 when the aircraft he was in was lost over the Mediterranean Sea. Clarkson is spouting his gob off yet in 2008 is supposed to have said that he bought the farm he now owns for tax reasons and not to intend to work the land. It is bad news for farmers and not at all welcomed and I guess that's what happens when celebrities get smug over "stiffing" HMRC and publicly boast about it. Now everybody has to suffer because Clarkson thought he was being clever and getting one over the taxman. Never be clever and try and make the taxman look stupid. He will just seek ways to make you regret being so smug.

https://www.standard.co.uk/news/uk/lisa-hogan-jeremy-clarkson-diddly-squat-farm-b966002.html

[ShootingEgg]

2 hours ago, enfieldspares said:

I am not at all a fan of inheritance tax it is a wicked tax. Thankfully, God Bless Bert Spriggs, my mother's estate avoided it as, being a War Widow, it was not subject to it through the carry over of the exemption from him, her first husband who was killed in March 1944 when the aircraft he was in was lost over the Mediterranean Sea. Clarkson is spouting his gob off yet in 2008 is supposed to have said that he bought the farm he now owns for tax reasons and not to intend to work the land. It is bad news for farmers and not at all welcomed and I guess that's what happens when celebrities get smug over "stiffing" HMRC and publicly boast about it. Now everybody has to suffer because Clarkson thought he was being clever and getting one over the taxman. Never be clever and try and make the taxman look stupid. He will just seek ways to make you regret being so smug.

https://www.standard.co.uk/news/uk/lisa-hogan-jeremy-clarkson-diddly-squat-farm-b966002.html

I don't think they thought let's screw Clarkson and celebs. They saw a way of getting more money into the pot to give out to the lazy work shy or just fill their pockets. 

Oh and the WEF don't want people living off the land and proper food. They want to make it in factories and make sure they feed us chemicals not actual food.

[Stuarta]

Are there small company owners on this forum? I would like to hear their take on the budget. I am retired now but my son runs my old business and employs 21 fulltime people. Two are apprentices on minimum wage and when the the second one finishes training there will be no more. The new minimum wage and NI increases will make training youngsters too expensive.

  

 

[Mungler]

1 hour ago, Stuarta said:

Are there small company owners on this forum? I would like to hear their take on the budget. I am retired now but my son runs my old business and employs 21 fulltime people. Two are apprentices on minimum wage and when the the second one finishes training there will be no more. The new minimum wage and NI increases will make training youngsters too expensive.

I run a business and employ 35 people. The budget is a disaster - there’s a ‘tail’ on everything and we have 1 year perhaps before the brown stuff starts to really whack into the fan blades. 

Day to day I deal with lots and lots of other businesses and people of commerce and everyone is saying the same thing - but no one wants to listen to enterprising productive people in business - we’re just here with the broad shoulders to pick up the bill.

Everyone my age is stuffing their pensions and can’t wait to jump off this hamster wheel being spun by Marxist lunatics.

I don’t listen to anyone in the public sector; they have no real world knowledge, no commercial insight whatsoever and their views are valueless. Indeed, with 52 years on this planet my observation is that the public sector is a good place to hide for the not quite good enough for the real world.

We are now in clown world and here we are with a cabinet without a single person who has ever had a real actual job let alone run a business. How was that ever going to end well?

.

Edited October 31 by Mungler

[islandgun]

1 hour ago, Mungler said:

I run a business and employ 35 people. The budget is a disaster - there’s a ‘tail’ on everything and we have 1 year perhaps before the brown stuff starts to really whack into the fan blades. 

Day to day I deal with lots and lots of other businesses and people of commerce and everyone is saying the same thing - but no one wants to listen to enterprising productive people in business - we’re just here with the broad shoulders to pick up the bill.

Everyone my age is stuffing their pensions and can’t wait to jump off this hamster wheel being spun by Marxist lunatics.

I don’t listen to anyone in the public sector; they have no real world knowledge, no commercial insight whatsoever and their views are valueless. Indeed, with 52 years on this planet my observation is that the public sector is a good place to hide for the not quite good enough for the real world.

We are now in clown world and here we are with a cabinet without a single person who has ever had a real actual job let alone run a business. How was that ever going to end well?

.

And there you have it

[Rewulf]

14 hours ago, Mungler said:

the public sector is a good place to hide for the not quite good enough for the real world.

We are now in clown world and here we are with a cabinet without a single person who has ever had a real actual job let alone run a business. How was that ever going to end well?

I dont think anyone could argue with that assessment.

I think theres 1 person on here (and pretty much anywhere) who says this was a 'good' budget ?
Even labour arent touting it as a good budget, they said there would be pain, and pain there is, although I expected worse.
My gut tells me that this budget was toned down in its severity at the last minute, with a good few things removed, but dont worry, Im sure theres more austerity to come...

This labour government are treading a fine line on being possibly the worst government weve ever had, and Ill say again, with their present course, they will be unlikely to see a full term.

[Mungler]

30 minutes ago, Rewulf said:

I dont think anyone could argue with that assessment.

I think theres 1 person on here (and pretty much anywhere) who says this was a 'good' budget ?
Even labour arent touting it as a good budget, they said there would be pain, and pain there is, although I expected worse.
My gut tells me that this budget was toned down in its severity at the last minute, with a good few things removed, but dont worry, Im sure theres more austerity to come...

This labour government are treading a fine line on being possibly the worst government weve ever had, and Ill say again, with their present course, they will be unlikely to see a full term.

Speaking to a farmer today - they’re all still in shock. They will mobilise.

Oh and food is about to get punitively expensive.

There might be a 1/4 interest rate cut by the end of the year as the BoE cosy up to the government and try with some good news, but realistically everyone should be looking at fixing borrowing rates for 5 years if only to have certainty of what comes next.

Europe appears to be on self destruct - all very odd. 

And on the news we’ve had 800 more turn up on boats who will need free housing, healthcare and so on…

 

[Jega]

Wonder why the chancellor didn't hit the on-line gambling companies in the budget ?
Just as an example the woman who owns BET365 got a salary of £221 million last year and has a family fortune estimated at £7.5 billion ,while her company BET365 made profits of over £3.4 billion in one year .
Now remember this is just one o the175 on-line gambling site's in the U.K.
This without calculating the cost and misery they cause to those caught up in gambling related financial and psychological problems .
Suppose it's easier to hit the pensioners fuel allowance .

[Mice!]

1 hour ago, Jega said:

Wonder why the chancellor didn't hit the on-line gambling companies in the budget ?
Just as an example the woman who owns BET365 got a salary of £221 million last year and has a family fortune estimated at £7.5 billion ,while her company BET365 made profits of over £3.4 billion in one year .
Now remember this is just one o the175 on-line gambling site's in the U.K.
This without calculating the cost and misery they cause to those caught up in gambling related financial and psychological problems .
Suppose it's easier to hit the pensioners fuel allowance .

I'm sure there'll be some excuse about them being registered in the Bahamas or somewhere so they can't be taxed.

We were discussing this week how few bookies are out there now, and the current 50+ age group will be the ĺast to use them, but it's do so easy now for people to gamble on their phones.

But like Amazon etc it's rubbish,  these companies are making huge huge profits and paying the absolute minimum they can get away with,  so it's easier to hit pensioners and it seems farmers.

None of the newspapers front pages had a good thing to say about the budget today.

And I've only see @oowee say anything positive on here.

[oowee]

3 hours ago, Mice! said:

I'm sure there'll be some excuse about them being registered in the Bahamas or somewhere so they can't be taxed.

We were discussing this week how few bookies are out there now, and the current 50+ age group will be the ĺast to use them, but it's do so easy now for people to gamble on their phones.

But like Amazon etc it's rubbish,  these companies are making huge huge profits and paying the absolute minimum they can get away with,  so it's easier to hit pensioners and it seems farmers.

None of the newspapers front pages had a good thing to say about the budget today.

And I've only see @oowee say anything positive on here.

The budget could have gone further for my liking. Particularly disappointing not to see 10p on fuel and a wealth tax of some sort. 

It will cost me an immediate £2.5k but its a small price to pay if it makes a difference. 

[Scully]

On 31/10/2024 at 18:11, enfieldspares said:

I am not at all a fan of inheritance tax it is a wicked tax. Thankfully, God Bless Bert Spriggs, my mother's estate avoided it as, being a War Widow, it was not subject to it through the carry over of the exemption from him, her first husband who was killed in March 1944 when the aircraft he was in was lost over the Mediterranean Sea. Clarkson is spouting his gob off yet in 2008 is supposed to have said that he bought the farm he now owns for tax reasons and not to intend to work the land. It is bad news for farmers and not at all welcomed and I guess that's what happens when celebrities get smug over "stiffing" HMRC and publicly boast about it. Now everybody has to suffer because Clarkson thought he was being clever and getting one over the taxman. Never be clever and try and make the taxman look stupid. He will just seek ways to make you regret being so smug.

https://www.standard.co.uk/news/uk/lisa-hogan-jeremy-clarkson-diddly-squat-farm-b966002.html

Seriously? I doubt this Labour policy is as a result of Clarkson! 

[Mungler]

57 minutes ago, oowee said:

The budget could have gone further for my liking. Particularly disappointing not to see 10p on fuel and a wealth tax of some sort. 

It will cost me an immediate £2.5k but it’s a small price to pay if it makes a difference. 

You can over volunteer tax - just write to HMRC and tell them what you want to volunteer and they will do it (seriously).

The amount of champagne socialists I’ve told of this and yet none have done it. Go figure. Maybe they realised their extra money will simply fall out of the bottom of the NHS bucket and make zero difference in the long term. 

If you can let us all know how you get on that will be great and in so doing you could exclude yourself from being a sanctimonious hypocrite (which is what we are all thinking right now 😆).
 

Edit

Think that there should be more taxation? Fill your boots

https://www.taxpayersalliance.com/want_to_pay_more_tax_be_our_guest

Edited November 1 by Mungler

[Mice!]

1 hour ago, oowee said:

The budget could have gone further for my liking. Particularly disappointing not to see 10p on fuel and a wealth tax of some sort. 

It will cost me an immediate £2.5k but its a small price to pay if it makes a difference. 

Really,  you wanted to see more tax??

Fuel has been high now for the last two years, petrol, diesel,  gas and electricity. 

I don't even know what a wealth tax is.

All Labour's talk of growing the economy,  yet they're punishing businesses,  its no shock that the only sector they look to be promoting is the public sector. 

[12gauge82]

2 hours ago, oowee said:

The budget could have gone further for my liking. Particularly disappointing not to see 10p on fuel and a wealth tax of some sort. 

It will cost me an immediate £2.5k but its a small price to pay if it makes a difference. 

I know what your saying, but 10p on fuel would hit the already over worked and under payed backbone of this country. What the UK needs to do, like the rest of the western world is to find a way to get big business to pay their share of tax. The UK is particularly affected because outside of financial services, we rely on low skilled, low payed service sector jobs. Which basically makes a society of haves and have nots. 

[Scully]

I think farmers are peed off also because the subsidies are going, which means that if we are all going to have to pay the ‘real’ cost of what it costs to produce food, a lot of people are REALLY going to struggle. 
It’s ok for most producers to pass on rising costs and extra costs to consumers ( whatever the product ) but farmers can’t do that as the buyers of farm produce such as supermarkets dictate what prices THEY want to pay. 🤷‍♂️
Not a good position to be in, which is why governments are always suggesting farmers diversify. 

[Vince Green]

On 31/10/2024 at 14:02, oldypigeonpopper said:

Hello, On a news report a lady stated, I wish i never voted for Labour !!!!

I wish she had never voted Labour too

[oldypigeonpopper]

Hello, There was a piece on the Farming forum where the Farmers are looking at a big march in London i presume, could be as many that did the Country Side march ??

[ShootingEgg]

9 minutes ago, oldypigeonpopper said:

Hello, There was a piece on the Farming forum where the Farmers are looking at a big march in London i presume, could be as many that did the Country Side march ??

19th November I think.

[oldypigeonpopper]

26 minutes ago, ShootingEgg said:

19th November I think.

👍

[oowee]

2 hours ago, 12gauge82 said:

I know what your saying, but 10p on fuel would hit the already over worked and under payed backbone of this country. What the UK needs to do, like the rest of the western world is to find a way to get big business to pay their share of tax. The UK is particularly affected because outside of financial services, we rely on low skilled, low payed service sector jobs. Which basically makes a society of haves and have nots. 

If you accept that we are short of something like 3m workers then the NI changes should drive productivity moving away from the dependency on low skilled workers. 

Some would argue that the gap between rich and poor is a measure of the financial success of an economy. 

[Robden]

 What would it take to get the government removed as "not fit for purpose?"  Has it been done in the past?

Edited November 2 by Robden

[JohnfromUK]

16 minutes ago, Robden said:

 What would it take to get the government removed as "not fit for purpose?"  Has it been done in the past?

They have a huge majority.   It can only (as far as I know) happen by losing a vote of confidence.  With their majority, that isn't going to happen.

Edited November 2 by JohnfromUK

[Vince Green]

On 31/10/2024 at 22:51, Mungler said:

I run a business and employ 35 people. The budget is a disaster - there’s a ‘tail’ on everything and we have 1 year perhaps before the brown stuff starts to really whack into the fan blades. 

Day to day I deal with lots and lots of other businesses and people of commerce and everyone is saying the same thing - but no one wants to listen to enterprising productive people in business - we’re just here with the broad shoulders to pick up the bill.

Everyone my age is stuffing their pensions and can’t wait to jump off this hamster wheel being spun by Marxist lunatics.

I don’t listen to anyone in the public sector; they have no real world knowledge, no commercial insight whatsoever and their views are valueless. Indeed, with 52 years on this planet my observation is that the public sector is a good place to hide for the not quite good enough for the real world.

We are now in clown world and here we are with a cabinet without a single person who has ever had a real actual job let alone run a business. How was that ever going to end well?

.

Good post