2022 mini-budget discussion

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dLockers said:
Kind of but think about your life and how established you are. Nobody wants to disrupt their kids schooling etc...
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Yes totally, I'm comfortably in this bracket and don't get me wrong, it's not like I wouldn't be sad to move, upset to disrupt my children, hate to lose my friends.... but I would have the choice and it's not like there isn't people on £25k who don't...
 
Not sure if you'd call this floundering or panicking about your job really...

Chancellor to bring forward next financial statement

Kwasi Kwarteng is set to bring forward his next financial statement from 23 November, government sources have told Sky News.
The medium-term financial plan will happen this month but an exact date has not yet been confirmed.
In the wake of the mini-budget fallout over the past 10 days, Mr Kwarteng had tried to reassure markets by telling them a further financial statement would be announced at the end of November.
A forecast by the Office for Budget Responsibility is due to come alongside the statement, however the government has come under pressure to release it earlier to calm markets.
The news he would be bringing the statement forward comes just hours after he U-turned on cutting the 45p income tax for higher earners.
Earlier today, Mr Kwarteng had insisted he would be keeping to the 23 November timetable for his next financial statement despite calls for it to be brought forward after the past week's turmoil.
The markets calmed slightly after this morning's U-turn but there is concern about what will be in the next statement following the latest one.
 
SpeedFreak said:
I agree with Katie but would add that a 100k job in London is most probably significantly less outside of London.
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Yes that's fair, although from experience it's not proportionate - ie you still get more for your money even with salary cuts (of course depends a bit on the location you pick)
 
kitkat9933 said:
You don’t always make your bed.

I had friends based in London that had a collective income of about £300k split equally between them. They have 5 kids and a great life. The dad had terminal cancer and the got into a lot of debt in the US on treatments not covered in the Uk. He since passed away.

She now on her single salary has to support 5 kids, a mortgage based upon two peoples salaries at the time with interest rates rising. She doesn’t go on fancy holidays or have an even remotely fancy car. She doesn’t want to down size to take her kids out of school away from their friends and family etc .

His life insurance didn’t even cover the full debts.

She has a tough life and she’s doing a great job, sacrificing to make sure her kids don’t suffer more.

So please stop with this rubbish that people on higher salaries can’t have it bad, because that’s just naivety at its finest.
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Well said
 
Slam62 said:
So how do you think people earning the minimum cope, duh, 100k is more than enough if you can't manage on that then you're in trouble and need to reevaluate.
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Some don't cope..

Many house share or live in deprived areas. Eat unhealthy and overall are a week or two away from being on the streets. It's not nice at all
 
cheesyboy said:
I think what's naïve is arguing against someone saying that a £100k earner shouldn't struggle, when that's three times the London median.

I've argued against people who've said that's a salary that buys expensive new cars, a holiday home, multiple foreign holidays etc, because that's just not the case. But it is a comfortable income.
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Different country but our combined income WELL exceeds £100k. Can absolutely confirm that if we had to go down the route of expensive new cars (plural. Even singular will be a push), a holiday home (like, LOL), multiple foreign holidays (maybe 1-2 a year max), and whatever else people think, we'll be left with very little every month.

Now, I will admit that with careful mathematics, 'some' of the above could be in reach, but we'll be left exposed during a major downturn. We prioritize differently.

So despite our income, we still dutifully queue up for economy class, shop the weekly specials, look for cheap hotel deals and getaways and budget our holidays. Perhaps it's different when you're getting to £300k a year, but I wouldn't know
 
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kitkat9933 said:
You don’t always make your bed.

I had friends based in London that had a collective income of about £300k split equally between them. They have 5 kids and a great life. The dad had terminal cancer and the got into a lot of debt in the US on treatments not covered in the Uk. He since passed away.

She now on her single salary has to support 5 kids, a mortgage based upon two peoples salaries at the time with interest rates rising. She doesn’t go on fancy holidays or have an even remotely fancy car. She doesn’t want to down size to take her kids out of school away from their friends and family etc .

His life insurance didn’t even cover the full debts.

She has a tough life and she’s doing a great job, sacrificing to make sure her kids don’t suffer more.

So please stop with this rubbish that people on higher salaries can’t have it bad, because that’s just naivety at its finest.
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This is an extreme example and absolutely not the norm. You'll always have cases like this regardless of the salary.
 
Jesus what a weird boast thread.

"I'm suffering earning over 100k 150k 300k etc etc"

F off. Get some perspective. I don't usually get riled up by ocuk as most people here are high earners, but, most of the UK are not.

Maybe I'm reading the undertones wrong but still you have huge safety nets and options to downsize lifestyle.

Sacrifice has to be made, Boohoo.
 
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