Spring Budget 2023

EddScott said:
LTA increase has been rumoured for at least a month. The change from a throwaway concession to "keep working" is new to me though.

I hope he raises the Annual Allowance but that might be counter intutive to wanting folk to keep working. If I can put more in quicker, I can finish earlier etc.
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The rumour mill is a raise of annual allowance to £60k
 
This feels like so many things over the past few years. All to keep the plates spinning a little longer before they all come crashing down on someone elses watch. You need to fix issue, not just patch the problem.
 
Goodie said:
I think the timing of the free hours should adjusted too. Ours were born in April and May so both had to wait until the September after and then had three terms worth. If your child is born in September - December you get 5 terms worth of support starting in January. Doesn't make any sense.
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You will laugh but we both planned to have our children in September because of things like this. Having September children just makes sense from a schooling perspective.
 
Uther said:
It's going to be interesting to see how many companies take on sick people that could well need all sorts of random time off when they're ill.
Hence why I think it will be more about cutting benefits/sanctions than wanting sick and disabled people to fill ever decreasing job roles.
I'm not sure people should be applauding the pension age going up and up either.
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Absolute lol if they start sanctioning disabled people if they don’t look for work
 
adam cool dude said:
You will laugh but we both planned to have our children in September because of things like this. Having September children just makes sense from a schooling perspective.
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My daughter spawned three days before September last year. Means her kid is going to be three years and a couple of days when he starts school which is too early.
 
Uther said:
news.sky.com

Budget 2023: Chancellor to promise 30 hours of childcare a week for one and two-year-olds

Jeremy Hunt is expected to make the announcement of a £4bn expansion of childcare for one and two-year-olds, funding a plan that would provide 30 hours a week to parents, Sky News understands.
news.sky.com news.sky.com
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Heh, all about the timing. They introduced funding for 3-4 year olds just as my eldest was about to start school. And now they will lower it for 1-2 year olds now that my youngest is 3.

You have to start somewhere but the headline of "helping with childcare costs" is a bit too broad, it's more about helping with specific subsets. More universal help like increased top up for tax free childcare might be preferable.
 
HangTime said:
Heh, all about the timing. They introduced funding for 3-4 year olds just as my eldest was about to start school. And now they will lower it for 1-2 year olds now that my youngest is 3.

You have to start somewhere but the headline of "helping with childcare costs" is a bit too broad, it's more about helping with specific subsets. More universal help like increased top up for tax free childcare might be preferable.
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Note the word 'could' and 'may'. Usual sky news bs.
 
adam cool dude said:
Why can't they just increase paternity instead like other nations? 30 hours a week is 6 hours a day. Plus you will only get it for 38 weeks a year. No one has a 6 hour job in full time employment that can take off school holidays so will still have to pay for childcare costs if you work a full time job.

A mother needs a good year at least with the child on full pay. Not a token gesture like this.

Cannot wait for the general election to come. Tory's know their time is up and feeding this rubbish like the commoners will lap it up. Problem is it isn't the 1930's and this propaganda doesn't wash.
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Why are you conflating maternity pay with childcare pay?
 
Uther said:
It's going to be interesting to see how many companies take on sick people that could well need all sorts of random time off when they're ill.
Hence why I think it will be more about cutting benefits/sanctions than wanting sick and disabled people to fill ever decreasing job roles.
I'm not sure people should be applauding the pension age going up and up either.
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Pension age going up, what?
 
weringo said:
Sounds like another flip flop on the lifetime allowance. How are people supposed to plan for retirement over 30-40 years if the tax rules keep changing every few years?

If they are going to touch pensions they should reduce of the significant discrepancy between how the lifetime allowance applies to DB schemes vs DC schemes. Also if they are focused on growth they should remove the personal allowance forfeiture at £100k - why would anyone earning around this amount work harder for a bigger bonus/payrise if they are going to lose 62% it in tax. I can't see either of these points being resolved though.
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Because 38% of something is bigger than 100% of zero.

Either 100k is enough for you, or you want to pursue your career further, i don't see how the tax rate impacts those decisions.

But yea, how can people plan for retirement over long timeframes.
 
Have to remember that pension age is only when you qualify for state pension. The next generation to start retiring (Millenials since GenX are already at retirement age) will have the option to retire earlier on their private pensions which have had mandatory contributions for the last 10+ years or so. When millenials hit 58 they should have a sizeable private pension to draw on if they want to retire earlier.
 
ci_newman said:
Have to remember that pension age is only when you qualify for state pension. The next generation to start retiring (Millenials since GenX are already at retirement age) will have the option to retire earlier on their private pensions which have had mandatory contributions for the last 10+ years or so. When millenials hit 58 they should have a sizeable private pension to draw on if they want to retire earlier.
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Unless they work in the NHS and can't take it until they reach state pension age...
 
It's worth remembering that under previous Governments Lifetime Allowances and Annual Allowances have been cut very hard.



The highest it's been recently is £1.8m and £255k in 2010-11 so increases this year still don't take it back to what it used to be.

I have several late 50 something friends who have been made redundant in the last few years and originally planned to go back to work and decided not to because of the pension tax implications. 35 years in a good company/public sector pension scheme and then reducing allowances and high inflation distorting calculations. It just wasn't worth working.

Inflation was so high this year I got caught out on my annual allowance because of the accounting rules and I wasn't expecting to get anywhere near my annual limit for another 15 years.
 
200sols said:
Reform the planning system is just code for building all over the countryside isn't it..
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Probably make it harder to object, and easier to overrule objections from the likes of the local authority.
IIRC one of the estates here went ahead despite every "interested party" including all three emergency services, all the utilities, the environment agency and the local council stating objections and reasons to not build it, ranging from "we don't have the capacity to supply the utilities reliably" to "you're planning on building it on a flood plain you morons", to "the planned layout is a godsend to criminals". Not to forget another several thousand people with no additional school places, health infrastructure or leisure.
 
It's mostly frustrating about tax brackets not increasing by the same 15% bills like broadband, mobile and such are going up by in April. The allowance going up by that considering on top mortgages, council tax and energy bills should be least the gov is doing to support the population.
 
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