The Budget 2015 – 12:30

Small bonus for us on the Help to Buy ISA.

Annoyed that there's a cap on how much you can pay in a month as we've already got 17k between us

It'll still be an extra 2k on our deposit by the time we're ready to buy around the end of next summer though
 
Glaucus said:
And this chart is from where.
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The chart looks fine to me.

Someone earning 13k will only save 13k-allowance (@10%). So £200 (13k - 11k x 10%)

Someone earning 43k will save the same plus the extra few quid saved on the 40% limit having moved (say 30% on £500 or whatever the movement is). So £200 + £150 = £350. Almost double the poor guy.

In terms of £££s the richer get richer, in terms of % I would have thought it would be the opposite, but that's not what the graph shows; I guess the percentages involved (10% and 40%) make a big difference.

I really don't care enough about the minimal extra to whip out Excel and do some charts of my own.
 
AndrewNR said:
The chart looks fine to me.

Someone earning 13k will only save 13k-allowance (@10%).

Someone earning 43k will save the same plus the extra few quid saved on the 40% limit having moved (say 30% on £500 or whatever the movement is).

In terms of £££s the richer get richer, in terms of % I would have thought it would be the opposite, but that's not what the graph shows; I guess the percentages involved (10% and 40%) make a big difference.

I really don't care enough about the minimal extra to whip out Excel and do some charts of my own.
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The chart is for 10k raise only, that's what it's titles at anyway, the chart looks absolute wrong.

If your going to take into account other changes, then you need to include everything from tax credits, j's and everything in between.
 
I'm all for having a different Government, although I have no issues with the current one and think they've done OK with what they have taken over from.

What I would hate to see is Labour winning the next election, or even being part of a coalition. Ed has to be the least charismatic person to front a party, and gives off the impression he has no confidence in anything. He'll be a disaster if he's in charge of a ****ing country.


Need to go and find out more info about the Nuclear test compensation. Grandad was part of this, and his side of the family have had a whole host of different health issues. It might not be the cause of this, we'll never know, but if the money is going....!
 
Glaucus said:
The chart is for 10k raise only, that's what it's titles at anyway, the chart looks absolute wrong.

If your going to take into account other changes, then you need to include everything from tax credits, j's and everything in between.
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The chart is probably based on jumping from £9,440 tax free allowance to £10,000, I assume?

Either way in terms of just income tax relief (none of this tax credits nonsense) - 40% payers will always be better off monetary wise (unless the 40% bracket doesn't shift, which I assume it always does).
 
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I'd quite like to see the coalition back in, given the current circumstances.

Unfortunately it's not possible to vote for the coalition, or "Please don't let Labour back in".

MrMoonX said:
So nothing in the budget to solve housing crisis! Generation rent screwed again, not many renting in South East have £200pm left over to save in this isa thing. We need to massively build housing and introduce rent controls. A Tory budget to buy Tory votes quelle surprise. Anyone who works in or uses public services cannot seriously vote Tory
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I wondered when you'd show up, we certainly need your well balanced point of view ;).
 
Freakbro said:
Abolishing Class 2 NI?

Will have to look into the detail on that one as I read they were just rolling it up into class 4 in your SA return
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I thought this one sounded fishy...

Class 2 NI (paid by the s/e @ 2.75 / week) is what counts towards your NI contribution record - so you are eligible for state benefits, pension etc

So, saying he was going to abolish it (being reported as a tax cut) has worried people, but don't fret....the treasury are now running a consultation to include an extra 'contributory element' in your Class 4 NI payment! (so not really a tax cut)

Ahhh smoke and mirrors....nothing changes :p
 
What do the Labour voters hope will happen if Red Ed gets in? I'd like to know, because he doesn't have any policies as far as I can tell, so it can't be an informed decision. More of a punt on a lame horse.
 
Help to buy ISA looks nice and perfect timing as I am planning to start saving for my first house in a month or two!

Unfortunately by the time you realise the maximum £3k "bonus", the average house price will have risen another £40k :p
 
AndyT said:
What do the Labour voters hope will happen if Red Ed gets in? I'd like to know, because he doesn't have any policies as far as I can tell, so it can't be an informed decision. More of a punt on a lame horse.
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:confused: Didn't today's budget basically steal one of Labour's election manifesto pledges? Reducing the lifetime pension allowance from £1.25m to £1m.
 
scorza said:
:confused: Didn't today's budget basically steal one of Labour's election manifesto pledges? Reducing the lifetime pension allowance from £1.25m to £1m.
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Even if it did, so what? Is that the sum total of Labour's efforts?

I'm not a huge fan of that policy. To me it penalises the sensible savers, those who have worked hard and carefully managed their own affairs throughout their life.

Anyway what would Labour do with this money? No real plans it seems. Probably just pump it into the NHS so fatties and smokers can be kept alive longer. The Conservatives are at least trying to balance the books.
 
scorza said:
Seriously how old are you? To say something like that you can't possibly be old enough to remember the late '80s. Mass unemployment, sky high interest rates, race riots, civil disobedience and a resultant state crackdown - it was an awful time trust me. I'd summarise Britain at the time as having a complete absence of hope. Yes the bankers screwed things up in 2007 to a much greater extent than they did back then, but you knew in 2008 that Britain would recover - people weren't so sure in the '80s.
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Exactly my point. This recession is far worse yet we are not feeling worse off simply because of this government. I know it was awful in 80s because the recession was not handled well. Interest rates particularly were painful. If this recession was handled like previous ones then we would be in a far worse position.
 
Glaucus said:
And this chart is from where.

...

Let me guess fudged stats to try and prove a point.
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It's from the IFS, as it says in the post you're replying to. I'm afraid I neglected to post the source on the third time of posting, it's from here. Are you claiming the IFS are fudging stats to make the coalition look bad now?

Incidentally, the Treasury's own analysis shows the same thing but I'm sure they're biased too.
 
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