The Budget 2014 - 12:30

[Cleisthenes]

Down with the potholes

My constituency had better apply for funding!

 

[Cleisthenes]

Poor guy, the most hated man in Britain. How does he turn up for work every day?

He is hated by those who don't appreciate what he does, mostly people who know very little.

 

[jas72]

Public borrowing/deficit

Deficit forecast to be 6.6% of GDP this year, 5.5% in 2014-15 then falling to 0.8% by 2017-18 with a surplus of 0.2% in 2018-19

Borrowing forecast to be £108bn this year and £95bn next year, leading to a surplus of almost £5bn in 2018-19

A new charter for budget responsibility to be brought in this autumn

Promises to make permanent £1bn reduction in government department overspends

Why have a surplus saving for something are we (you)?

 

[Theophany]

Incredible zingers from Osborne. They're so embarrassing. You know, for anybody who would actually use them.

 

[Cleisthenes]

Why have a surplus saving for something are we (you)?

So that if a similar crisis happens in the future, the impact will be vastly reduced. Investment will also go sky high if there is a budget surplus.

Incredible zingers from Osborne. They're so embarrassing. You know, for anybody who would actually use them.

Coming from a politician they are hilarious!!! I've laughed at at least 3 haha

 

[Theophany]

Coming from a politician they are hilarious!!! I've laughed at at least 3 haha

And you chose to admit that on a public forum?

 

[Cleisthenes]

And you chose to admit that on a public forum?

I DON'T CARE! I'M OPENLY LAME

 

[robgmun]

OH MY GOD THAT MAGNA CARTA BURN

Just got to that, that was epic!!

 

[R.O.S.S.I]

Has anything been mentioned about stamp duty for first time buyers? or stamp duty at all?

 

[Judgeneo]

Why have a surplus saving for something are we (you)?

Surplus means paying down debt, which means smaller interest payments, which means substantially more money in the long term, and easier to raise cheap debt in the future. Its ideal for all governments, though in most cases other factors stop it from happening

 

[Cleisthenes]

Has anything been mentioned about stamp duty for first time buyers? or stamp duty at all?

Just that they are making sure that those buying more expensive houses cannot avoid paying stamp duty. Not sounding good for getting rid of it full stop, but it was unlikely to happen if we're realistic.

 

[Cosimo]

Fuel duty rise planned for September will not take place.

 

[Cleisthenes]

Danny Alexander's face when Scottish Whiskey was mentioned was priceless

 

[Deewon]

Fingers crossed fuel tax doesnt get hiked again

 

[Cosimo]

Beer duty cut by 1p.

 

[snips86x]

Tax Free Personal allowance going up to £10.5k next year!

 

[Cosimo]

£10,500 tax allowance from next April.

 

[Glaucus]

Why have a surplus saving for something are we (you)?

In no way is it saving. Atm its like we are using the credit card every month. But reducing how much we use it. In 2019 we can start paying an absolutely tiny amount off it.

 

[Cleisthenes]

Higher earners likely to be losing out

 

[jas72]

Surplus means paying down debt, which means smaller interest payments, which means substantially more money in the long term, and easier to raise cheap debt in the future. Its ideal for all governments, though in most cases other factors stop it from happening

So that if a similar crisis happens in the future, the impact will be vastly reduced. Investment will also go sky high if there is a budget surplus.

Ah so not no debt but just no more borrowing.