Budget 2015: Osborne vs. the Economy

[Jokester]

Surely the fees are set by market demand not the cost base. If your market could bear higher costs you'd already charge them?

Cost base will be going up for all his competitors as well at the same time though rather than pricing himself more than the competition otherwise.

Got to laugh at those in the public sector moaning about small wage increases. You would think those in the private sector have been maintaining a parity with the public sector since the credit crunch when the reality was private sector workers took an immediate hit to salary growth and many in reality ended up with salary cuts over the past 5 years, whilst those in the public sector have largely been shielded from and in reality in some cases still continued to receive health increases due to multi year deals agreed prior to the crunch.

Didn't realise public sector pension contributions went to the government. Surely that only works for final salary pensions rather than defined contribution - they need to be put in a dedicated fund?

 

[MeatLoaf]

Work more.

Would be great if there was the hours available. Of course I shall l;ook elsewhere for another job.

But looking at it I would be better off on the dole as what they are saying on the news, tax credits for those on the dole are unaffected

EDIT : Just looked at the calculator thing again on the telegraph site and its figures for tax credits are wrong. It thinks were on 6k child tax. I wish lol.

According to the BBC calculator we will be no worse off.

 

[deuse]

The IFS said
"A low-earning single parent with one child, working 20 hours a week at £9.35 an hour, will be £1,000 a year worse off"

"A low-earning dual-earner couple with two children will be £850 a year worse off"

"A middle-earning dual-earner couple with two children, each earning £15 a hour, will be £350 better off, as a result of increases in the personal tax allowance"

" a low-earning couple with with three children making a new claim would be £3,450 worse off, following the tax and welfare changes set out in the budget."

I can't believe anyone voted for these idiotic morons.

 

[ubersonic]

I can't believe anyone voted for these idiotic morons.

Well, according to your own post:

The IFS said
"A low-earning single parent with one child, working 20 hours a week at £9.35 an hour, will be £1,000 a year worse off"

"A low-earning dual-earner couple with two children will be £850 a year worse off"

"A middle-earning dual-earner couple with two children, each earning £15 a hour, will be £350 better off, as a result of increases in the personal tax allowance"

" a low-earning couple with with three children making a new claim would be £3,450 worse off, following the tax and welfare changes set out in the budget."

So basically most people will be better off, guess they are just appealing to votes.

 

[deuse]

Well, according to your own post:



So basically most people will be better off, guess they are just appealing to votes.

"basically"! show me someone like the IFS that say MOST people are better off.

 

[dowie]

"basically"! show me someone like the IFS that say MOST people are better off.

you've cherry picked your examples(most people don't have three kids for example), yes there are inevitably going to be some losers in a budget - you make changes to tax and benefits and some people win, some people lose

they're increasing the minimum wage and scaling back tax credits, this is a good thing overall IMO

yes perhaps someone working part time (your 20 hours a week example) gets less tax credits now, so be it...

 

[wildest_jjk]

you've cherry picked your examples(most people don't have three kids for example), yes there are inevitably going to be some losers in a budget - you make changes to tax and benefits and some people win, some people lose

they're increasing the minimum wage and scaling back tax credits, this is a good thing overall IMO

yes perhaps someone working part time (your 20 hours a week example) gets less tax credits now, so be it...

I agree with this, I don't understand what people expect to happen. If there are big changes to benefits then people are going to miss out, certainly to begin with anyway.

Apparently tax credits started off costing something like £1 billion but now it's like £30 billion. I'm not sure how correct that is but it's clearly getting out of hand.

 

[deuse]

yes perhaps someone working part time (your 20 hours a week example) gets less tax credits now, so be it...

You did read my post? A single parent has to be with the child when he\she is not in school\nursery.

 

[Pneumonic]

I will have to let the dust settle and let my accountant give me the figures. A quick back of a fag packet calculation, I reckon on being about £5k down, which isn't so bad if I up my rate to mitigate some of that and plough more into my pension. Overall its a bit meh, not overly bothered.

Dividend hit was certainly unexpected yesterday and is a real pain the butt for those of us that operate via LTD entities..

You can't however compare to the current umbrella situation however as HMRC are currently looking at removing the travel and subsistence schemes that most umbrellas use in order to reduce tax / NIC cost and thus reduce tax / justify their fees..

Most likely over the next few months you will see that particular industry looking at how they can legally look to offshore

 

[dowie]

You did read my post? A single parent has to be with the child when he\she is not in school\nursery.

what does that have to do with anything? did you read my post... yes some people will lose out, you've cherry picked your examples

 

[ShortWarning]

£1900 worse off according to the telegraph, £1500 according to BBC.

 

[dr_volki]

Any contractors in here looking at going from ltd to a 'decent' umbrella company?

what did I miss? contractor here going through my own ltd

 

[Uther]

what did I miss? contractor here going through my own ltd

You got hit.

 

[chief barker]

£1900 worse off according to the telegraph, £1500 according to BBC.

How?

 

[ron3003]

May 2015, when the TURKEYS voted for Christmas
Now will it be Sage & Onion or Chestnuts?

 

[Firestar_3x]

IApparently tax credits started off costing something like £1 billion but now it's like £30 billion. I'm not sure how correct that is but it's clearly getting out of hand.

Getting out of hand?

It has been out of hand for a VERY long time.

 

[Rotty]

Whoopee ****ing do. For most Public Sector workers who haven't had a pay rise in years (or at best have had 1%) another four years of being limited to 1% is a large pay cut.

and many in the private sector have had worse deals, we had a 10 year pay freeze and our final salary pensions stopped without any say in the matter

 

[Freddie1980]

I can't believe anyone voted for these idiotic morons.

A wild guess but I'm guessing you voted for Labour (based on anti conservative comments and location)?

 

[ShortWarning]

How?

I don't really know. I put the numbers in the box and that's what it told me.

It appears to be to do with working tax credits. I hadn't been claiming them before but I'm now in the situation where I will have to support 2 children and 2 adults on my measly wage (that's another story), so I guess that 2k would have helped.

Edit - I'm not really complaining as such. As everyone is quick to point out, "if you don't get paid enough get a new job" or "if you can't afford to have kids, don't have them". While I agree with this, sometimes life isn't that easy or straight forward.

 

[Tunney]

and many in the private sector have had worse deals, we had a 10 year pay freeze and our final salary pensions stopped without any say in the matter

Sounds like you need to unionise. If you'd been part of a union, you probably would have had a say in the matter.