2022 mini-budget discussion

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dLockers said:
What does doing alright mean? I live in a poorly maintained 3 bed semi on a main road. If rates go up I'll have to sell my car. I needed a boiler so I had to sell my wifes car.

Lucky I am given all these choices huh :D
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Yeah you see, my experience is that life is not predictable enough to live that close to the edge, you obviously have had none or very few of lifes random catastrophes thrown at you and I don't mean a new boiler.
So you have blatantly overstretched yourself, good luck. It probably will pay off in the end, you're probably one of those that nothing ever goes wrong for.
 
Zenduri said:
I genuinely dont know about the "stealth tax" as im nowhere near that bracket to be effected by it. I know this may sound like im being a dick but, i'm not, how come there is a stealth tax between 100k and 125k?
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Basically when you start earning more than £100k they start to reduce your tax free personal allowance (the £12.5k most people earn tax free) by £1 for every £2 you earn above the threshold, essentially what used to be £12.5k of your earnings that wasn't taxed starts to get taxed (at the 40% rate iirc).
 
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Slam62 said:
Yeah you see, my experience is that life is not predictable enough to live that close to the edge, you obviously have had none or very few of lifes random catastrophes thrown at you and I don't mean a new boiler.
So you have blatantly overstretched yourself, good luck. It probably will pay off in the end, you're probably one of those that nothing ever goes wrong for.
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200 IQ is having tonnes of equity in a car you don't need that has appreciated since you bought it.
 
dLockers said:
200 IQ is having tonnes of equity in a car you don't need that has appreciated since you bought it.
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Sorry I thought you might have to sell your car, my bad.

Just to add, equity in a car is just a bonkers expression , you don't own the car then. So you appear to be someone who doesn't own anything but are incredibly rich.
 
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I have been following and enjoying dLocker's house renovation thread with some interest because I guess he's here in Shropshire. Selling the wife's car to buy a new boiler sounds a bit desperate, was the old boiler none functional? The oil fired boiler here is well over 30 years old and I have no intention whatsoever to change it unless it succumbs to irreparable wear and tear, which would probably mean the heat exchanger corroding through. I know he's renovating, but given a choice of selling the car or living with the old boiler for a while....?

I sometimes think people spend an excessive amount on modernisation of modest properties, I constantly have to rein in the wife as she gets carried away with expensive ideas with no real benefit to the comfort of living.

Of course none of this is any of my business, but when one puts renovation projects in the public domain I assume it is not unreasonable to comment on them in association with posts about how to budget for them, and the current financial situation in the UK?
 
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413x said:
Cannot imagine the world kids of today are going to inherit.

With environmental stuff taking a real sideline its not going to be pretty.

Housing, cost of living, world becoming more fractured and isolationist, and the big one... Environment.


Yeah... No
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This is why many dont want to have kids actually and i dont blame em
 
matt100 said:
The only thing I'd add and as above it's hardly a crying poverty or looking for sympathy thing is that I think it would shock many as to how much you have to earn to be/act properly "rich".

Having found myself in this situation it's actually pushed me much further left.

Like, yes I live in Surrey in a stupidly expensive house for what it is.. genuinely quite small 3 bed semi over £750k.. I came here because it's like 30-45 minutes from the office. I have a 200k miles 1 series that I paid off years ago and go on holiday once a year.

And yes my income covers this but it's hardly multiple holidays, flash cars and huge houses.

And this is it? This is what striving gets you? And omfg if you're not here, how on earth do you manage?

Like my combined household income is.. substantial.. and yes we're putting on jumpers and avoiding putting the heating on because a big hike in the bill would be annoying.. Imagine it being financially existential?

And the tax system is ****** and thats not because of the top rate, it's because of the marginal rates. Like too many middle earners pay high rate tax, the high rate isn't high enough, too much of the highest earners money is not wages so needs to be taxed more effectively, stamp duty is regressive and idiotic (i've already paid tax on this once?), house prices are ridiculous and I still live for the day people wake up to them being an anti motivation.. like what on earth is the point of working your arse off to never own... this?

And then weird stuff like at the £100k you have to submit a tax return, why? I'm still an employee, then out of the blue you get a weird demand about losing your tax free allowance in bizarre stages.. it's all super odd.

And yet, despite these arguments none of this has ever made the slightest scrap of difference to how hard I or any of my peers/colleagues have ever worked.

I've never met a single person who's said "no thanks, I won't earn X bonus or go for Y job because it'll top me over a marginal pay boundary" it's just total gaslighting crap to justify gifts for the even wealthier.
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you make very valid points, by the sounds of your situation you're not living a materially different life to someone earning 40k in Leeds yet are vilified for it in every government policy and media headline and anyone living somewhere else thinks you're driving around in ferraris and flying on private jets...


You're right, in lots of ways slightly more left policies absolutely make sense about making sure the super-rich get taxed etc, but I've not seen a single labour policy that doesn't go after the "middle" instead of the actual "top" earners/wealthiest. Any household with one or two very low six-figure incomes would be absolutely crucified even more under any labour (or to be frank Tory other than the 45% blip) policy I've seen.
 
Chris Wilson said:
I have been following and enjoying dLocker's house renovation thread with some interest because I guess he's here in Shropshire. Selling the wife's car to buy a new boiler sounds a bit desperate, was the old boiler none functional? The oil fired boiler here is well over 30 years old and I have no intention whatsoever to change it unless it succumbs to irreparable wear and tear, which would probably mean the heat exchanger corroding through. I know he's renovating, but given a choice of selling the car or living with the old boiler for a while....?

I sometimes think people spend an excessive amount on modernisation of modest properties, I constantly have to rein in the wife as she gets carried away with expensive ideas with no real benefit to the comfort of living.

Of course none of this is any of my business, but when one puts renovation projects in the public domain I assume it is not unreasonable to comment on them in association with posts about how to budget for them, and the current financial situation in the UK?
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Plot twist she didn't need the car as she uses her boyfriends car
 
Zenduri said:
Did i ever claim people on 100k are getting soapy handjobs and paddeling the poor? No, my comments on this so far has been people on 100k arent struggling to eat or heat or provide a roof over their head. They can afford all of that but to what lifestyle level is another matter. Downsizing, moving, cutting back on luxary spending is all easily possible on 100k a year but its not possible for someone on NMW.

I go back to my original statement, people on 100k arent struggling, its their desired or aspired lifestyle which would struggle.

There is a lot more mobility on that income than there is at 20k for example. The arguement that someone on 20k can just work overtime whereas someone over 100k cant as they get taxed out the balls is pointless since business' have cut back hard on overtime being available and even if someone on 20k earns 10k extra from overtime they have sacrificed a lot of additional time to do so and are STILL less mobile financially than someone on 100k
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10 years ago people on 25k salary wasnt struggling by your defintion and look where we are now.. Give it about 5-7 years and by your own definition, 100k salary si todays 25k salary.

But yea lets just continue the trend and not worry about the downsizing at the 100k mark and brush that off the side and wait until 100k people will struggle to put food on there table
 
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