View Full Version : Budget 2009
The car scrapping scheme has been confirmed, just saw it.
• Economy forecast to shrink 3.5% in 2009
So, the worst since WW2? Spin that!
Net Debt
currently 59% deficit in GDP. Gradually increasing to 79% by 2014.
Live feed
http://news.bbc.co.uk/1/hi/uk_politics/8010759.stm
Overview
http://news.bbc.co.uk/1/hi/uk_politics/8011882.stm
50% tax over £100k earners. Like they don't know loopholes ;)
Feckers
Beer 2% midnight
fags 2% 6pm
Fuel duty 2p sept, 1p each budget going forward
The usual suspects always come out of the bag :rolleyes:
I've always supported a taxation on booze and fags to be fair, raising them by 2% is fine by me. The more people quit/cut down on them both, the better the health of the nation in general and less strain on the NHS. Same with junk food, if the UK really is in an obesity epedemic talking to people in a language almost every understands (money) will push the message home that obesity related diseases and illnesses put unncessary strain on the health and benefit services that could be lessened with simple moderation.
Looking to see what he conjures up for savers. People being smart with their money are receiving no reward or incentive to keep doing so. Lack of proper savings across the nation will impact the next generations where current generations have nothing to pass on apart from debt, or, — as thought it's an acomplishment — no debt.
Oh aye, I'm not totally against taxing beer and fags, bit it's just the same old thing year after year.
Looking to see what he conjures up for savers. People being smart with their money are receiving no reward or incentive to keep doing so.
I'm not entirely together on how it works but I was under the impression the quickest way out of a recession or at least the best way to limit the damage is to spend our way out?
Surely they don't want to encourage people to hoard their money at the moment, they want them out there spending it?
Problems arise when people spend money they don't actually have, on the assumption they will have it later.
Going bananas on spending on cutting carbon emissions, renewable energy, homes. Not got all of it but it's at least 2bn.
Just bloody build nuclear :/
Just bloody build nuclear :/
I have to agree with this.
I'm not entirely together on how it works but I was under the impression the quickest way out of a recession or at least the best way to limit the damage is to spend our way out?
Surely they don't want to encourage people to hoard their money at the moment, they want them out there spending it?
Problems arise when people spend money they don't actually have, on the assumption they will have it later.
I'm not an economist either but I'm of the understanding that's *one* way to do it. However spending will come in other forms too, not just from retail and other services. It should be the responsibility of the government, not the citizens, to drag the company into growth again. There are other ways to do it, such as creating more jobs and reducing unemployment and getting more cogs into the system to help with the overall flow of money around the entire economy. Cutting costs and government spending is always an option, but often on the shelf due to its very nature. You'll always have spenders and you'll always have savers. Expecting the savers to turn into spenders isn't fair, especially considering the cost of living is pretty high already.
usual ****, nothing for hard working folks who have been battered year after year after year
Just bloody build nuclear :/
I watched a documentary on iPlayer not long ago about the future of energy and according to that and some very respected Nuclear experts it's simply incapable of catching up with the demand. The figures just didn't add up. The time it takes for a plant to be built, and its lifespan etc, it fell short of the country's current power demands, never mind the future demands. Renewable energy such as wind and solar power was also dismissed as nothing but a minor contributor.
Fusion power seems to be the future. The first experimental reactor has been built and under heavy testing. They're hoping to harness the power properly within 20 years. By the sounds of it Fusion power stations would outperform Nuclear many times over, and best of all, is completely clean. For those interested, read up on it. In a nut shell it's harnessing the same energy created by the sun.
Cameron is delivering one hell of a response.
CHP is a good energy source for any intermediate use until fusion is cracked properly, assuming it can be utilised effectively.
Fusion is interesting, but it's still experimental. 20 years is a best case scenario really. Would love it to happen.
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Loss making companies can claim back some tax for 3 years
cash isa - 5100 from next year
I meant to watch and record this, just to see the Chancellor squirm. And squirm. I hope they replay the whole thing - including Cameron. For once, it'll be worth it. If they don't, I'll have to find my iPlayer tools - I want this one for posterity. :D
It's good for that. Was mostly listening to it while working, saw odd snippets.
Admiral Huddy
22-04-2009, 14:28
50% tax over £100k earners.
I'm pleased about this.. I'm fed up with being in the same tax band as someone earning £100k + whereas those on litttle or low income get everything.
50% tax over £100k earners.
I'm pleased about this.. I'm fed up with being in the same tax band as someone earning £100k + whereas those on litttle or low income get everything.
Totally silly attitude imo. Everyone should be taxed the same. If you get on in life and work hard you should benefit from the rewards.
Should raise the personal allowance to something like 10k then tax eh rest at 40%. Not only does it make life easier for the low paid, it makes it fair and easy for the tax man to work out.
Admiral Huddy
22-04-2009, 14:46
but it's not like that. You have already condtradicted yourself by saying everyone should be taxed the same but in the next breath say that those on low income should get more help more.. There is already a tiered system for those on low income... like lower taxes and family tax credit etc.. but nothing for Mr average..
but it's not like that. You have already condractioed yourself by saying that those on low income get more.. There is already a tiered system for those on low income... but nothing for mr average..
It's not a contradiction, under a flat tax, everyone would get the same. Everyone is entitled to the personal allowance.
why punish those who work hard? who will already pay far more taxes through VAT and all the other hidden taxes. there is no justification to tax the well paid more, other than jealousy.
Would it just be insane to have a set percentage for all? So it's all relative. Everybody has the same relevant impact to their finances. Take somebody earning £800 a month and somebody earning £4000. Losing £80 from a £800 wage packet is going to sting as much as losing £400 from a £4000 wage packet.
In end-money terms the difference is stark, but the structure is there. The lifestyle is different, and in stark constrasts like that, £400 and £80 will be seen in the same manner by the two cases. Different amounts but same attitude to the amount, if you know what I mean?
1.7 billion to be spent on the jobcentre network? There's already more people looking for work and more being laid off each week. That money needs to be spent on getting companies to employ people, not getting them to look for jobs which don't exist!
It also drives me nuts that they reckon they could save 10-15bn internally making the government "more efficient" (radio news monday), why was it allowed to be run so inefficient for all these years in the first place? Like the banks are supposedly being forced to restructure and start afresh the way they do business (really can't see that happening) I think the government needs an overhaul as most MP's seem to be living on a different planet half the time.
Admiral Huddy
22-04-2009, 14:53
Extactly, why punish those that work hard.. I'm just above the higher tax threshold and everything I do extra i pay the full tax on.. Even all the PC business I was doing .. and when ever I have to work weekends, I loose half of it in tax and NI plus I loose all sorts of other benefits such as family tax credits etc..
It's not a contradiction, under a flat tax, everyone would get the same. Everyone is entitled to the personal allowance.
why punish those who work hard? who will already pay far more taxes through VAT and all the other hidden taxes. there is no justification to tax the well paid more, other than jealousy.
This would be a noble attitude if it actually worked in the way that "harder you work = more you earn" You and I both know that's a fairytale attitude. You've got people doing tough manual labour every day and getting average money, and then you've got empty suits in manager roles who've never done an honest ways work in their life and have risen to their large salary through being in the right board room at the right time.
Yes, some people advance through hard work and dedication, and some stay in the lower jobs because they can't be arsed to learn new skills and work harder, but it's far from a general rule in my opinion.
This would be a noble attitude if it actually worked in the way that "harder you work = more you earn" You and I both know that's a fairytale attitude. You've got people doing tough manual labour every day and getting average money, and then you've got empty suits in manager roles who've never done an honest ways work in their life and have risen to their large salary through being in the right board room at the right time.
Does that matter? in general anyone can do manual labour and as such it is low paid. A manager is much more skilled and has more worth and isn't easy to replace and so is paid more.
Extactly, why punish those that work hard.. I'm just above the higher tax threshold and everything I do extra i pay the full tax on.. Even all the PC business I was doing .. and when ever I have to work weekends, I loose half of it in tax and NI plus I loose all sorts of other benefits such as family tax credits etc..
I don't see your argument apart from proving why we should have a flat tax rate.
A flat tax rate is unworkable now IMO. How would all of those people in the 20% bracket feel when another 20% just goes missing overnight? Most would see it as the rich stay the same whilst the poor get poorer.
Had it been done like this from the start then I agree it would be a reasonable system, but to just introduce it now would be havoc.
A flat tax rate is unworkable now IMO. How would all of those people in the 20% bracket feel when another 20% just goes missing overnight? Most would see it as the rich stay the same whilst the poor get poorer.
Because you wouldn't lose 20%. As the personal allowance is massively increased. it is very workable and works well.
Admiral Huddy
22-04-2009, 15:15
You beat me to it Desmo.. There is a tiered system of low, middle and high earners in this country and there should be tax bandings to suit. However, the exisiting higher tax (40%) threshold is too low. It needs changing so that there is something for everyone.
For those on very high incomes, the UK would just become a tax haven which I'm not sure would be good.
Matblack
22-04-2009, 15:18
It's not a contradiction, under a flat tax, everyone would get the same. Everyone is entitled to the personal allowance.
why punish those who work hard? who will already pay far more taxes through VAT and all the other hidden taxes. there is no justification to tax the well paid more, other than jealousy.
Its pointless anyway because anyone with that kind of money can afford an accountant who knows how to avoid income tax, the BBC themselves have pointed out how easy this is to circumvent :/
Its just another budget as far as I'm concerned, all the same small tax rises and some obscure breaks in various industries.
Just to address the nothing for Mr Average thing. If you gave a break to Mr Average it would cost a bloody fortune because of the number of people who fall into that bracket. Give a tax break to one armed transexual war veterans and it doesn't cost much, give a £10 rebate to all 2 armed 2 legged citizens and it costs a bloody mint thats why you don't and won't see it with this or any other government.
MB
Its just another budget as far as I'm concerned, all the same small tax rises and some obscure breaks in various industries.
To true. It's as bad as every year.
Does anyone know what the help is for FTB mortgages? Heard they had something in the budget but they didn't say what?
I'll have to find my iPlayer tools - I want this one for posterity. :D
http://linuxcentre.net/getiplayer/
:)
Nice one Daz :) Could be of some use.
That's the one. It's installed already - somewhere. :)
Admiral Huddy
22-04-2009, 15:42
I'm disappointed that they didn't reduce the 3% stamp duty to 1% .
This is choking the housing market in the southeast. It's pretty pointless giving tax breaks to first time buyers if the people they are buying from can't afford to move on in the chain. Most people including ourselve can't sell because no one is prepared to pay the £12k stamp duty on our home.
Von Smallhausen
22-04-2009, 16:06
Why tax pints ?
If you are going to raise alcohol revenues, raise it fior particular brands where people drink to excess such as Lambrini, WKD and various others.
Let the sensible drinker off for a change, even if it is only for a while.
Admiral Huddy
22-04-2009, 16:19
Tax all geordies 50% and double their tax when they get relegated! - problem solved
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