2022 mini-budget discussion

[mid_gen]

People seriously pretending the pound falling vs every other country in the world isn't to do with this fiscally incontinent budget

 

[Besty]

Bet all the people on 150K+ listening in will be pleased to hear about the additional tax rate cut, they can feed their families and heat their homes this winter now. Worry over.

I don't post in this area of the forum, for obvious reasons but as an 'older head' in the forums I will say that people earning 150k and over have been unfairly vilified as being 'rich' for too long. It's the peeps earning over a million a year that have no worries about money.

Yes, these cuts seem enormous, its worth about 30k-40k per year to me and the missus but we will most likely just save the money, these taxes should not have been implemented in the first place, by previous conservatives governments.

This is now a proper conservative administration, implementing what we (Tory voters) expect from our party. And no, I won't be buying a 4090.

 

[VincentHanna]

Assuming they keep the bands the same and abolish the higher rate:

If you earned £50,270 you will pay £320 less Tax per year at 19% instead of 20%

If you earned £250,000 you will pay £5320 less Tax per year because of the abolition of the higher tax rate.

This doesn't take in to account NI changes.

Oh, the BBC have handily worked out the NI changes

Basically, the really wealthy will be even richer and the average working person will have a few extra quid.

 

[delta0]

People seriously pretending the pound falling vs every other country in the world isn't to do with this fiscally incontinent budget

Actually it is due to the announcement of the UK being in a recession creating more downward pressure.

 

[MissChief]

Tories may as well go crazy knowing they won't see power again for a couple of generations

Tories will be back in power in Westminster by 2034. And you can quote me on that. Labour have only managed three election victories in a row once. Blair and his New Labour, or pretend Tories,

 

[MissChief]

Oh, the BBC have handily worked out the NI changes

Basically, the really wealthy will be even richer and the average working person will have a few extra quid.

Not to mention the scrapping of the top tax rate too. Tories always look out for themselves and their rich donors.

 

[Greebo]

Now 1.10

Gibbo will have those 4090 cards at £2500 before the 12th october at this rate

 

[VincentHanna]

I don't post in this area of the forum, for obvious reasons but as an 'older head' in the forums I will say that people earning 150k and over have been unfairly vilified as being 'rich' for too long. It's the peeps earning over a million a year that have no worries about money.

Yes, these cuts seem enormous, its worth about 30k-40k per year to me and the missus but we will most likely just save the money, these taxes should not have been implemented in the first place, by previous conservatives governments.

This is now a proper conservative administration, implementing what we (Tory voters) expect from our party. And no, I won't be buying a 4090.

You will save 30-40K in tax per year?!

 

[chroniclard]

I don't post in this area of the forum, for obvious reasons but as an 'older head' in the forums I will say that people earning 150k and over have been unfairly vilified as being 'rich' for too long. It's the peeps earning over a million a year that have no worries about money.

Yes, these cuts seem enormous, its worth about 30k-40k per year to me and the missus but we will most likely just save the money, these taxes should not have been implemented in the first place, by previous conservatives governments.

This is now a proper conservative administration, implementing what we (Tory voters) expect from our party. And no, I won't be buying a 4090.

I dont think people like that are vilified, its the actual rich that are. You, like us, dont need those cuts, why not help the lower income families that really need it.

Also 30-40k a year?

 

[glenimp617]

If you were on the Titanic, and had a lifeboat....would you steal something like a fancy painting, or some silver cutlery?

We're going down, and I'm trying to work out how I can benefit like the Tories

 

[Greebo]

I don't post in this area of the forum, for obvious reasons but as an 'older head' in the forums I will say that people earning 150k and over have been unfairly vilified as being 'rich' for too long. It's the peeps earning over a million a year that have no worries about money.

Yes, these cuts seem enormous, its worth about 30k-40k per year to me and the missus but we will most likely just save the money, these taxes should not have been implemented in the first place, by previous conservatives governments.

This is now a proper conservative administration, implementing what we (Tory voters) expect from our party. And no, I won't be buying a 4090.

|You arent meant to save the money!!!! You are meant to pass it on, trickle down to the poor.

 

[mid_gen]

Actually it is due to the announcement of the UK being in a recession creating more downward pressure.

We knew that already.

Total co-incidence the pound plummets against all major currencies just as a fiscally incontinent budget with unprecedented amounts of uncosted spending is announced

You're just making yourself look like a tit tbh.

 

[-Ad-]

Oh, the BBC have handily worked out the NI changes

Basically, the really wealthy will be even richer and the average working person will have a few extra quid.

Technically those savings for the higher up earners, is only a few quid to them anyway

 

[dowie]

Oh, the BBC have handily worked out the NI changes

Basically, the really wealthy will be even richer and the average working person will have a few extra quid.

I think you're conflating income and wealth here but yes higher income people will be better off when tax cuts are made because they pay a whole load more tax in general whereas lower earners are generally not net contributors.

Scrapping the 45% rate seems fair, I think they should undo the removal of the personal allowance of about 100k too, the marginal 60% tax rate at that sweet spot is particularly unfair.

Future tax increases should be along the lines of the Lib Dem's often proposed policy of adding 1% to all bands.

 

[Slam62]

Bond yields increasing not good for mortgages

 

[delta0]

We knew that already.

Total co-incidence the pound plummets against all major currencies just as a fiscally incontinent budget with unprecedented amounts of uncosted spending is announced

You're just making yourself look like a tit tbh.

It was in the statement today.

 

[mid_gen]

I don't post in this area of the forum, for obvious reasons but as an 'older head' in the forums I will say that people earning 150k and over have been unfairly vilified as being 'rich' for too long. It's the peeps earning over a million a year that have no worries about money.

Yes, these cuts seem enormous, its worth about 30k-40k per year to me and the missus but we will most likely just save the money, these taxes should not have been implemented in the first place, by previous conservatives governments.

This is now a proper conservative administration, implementing what we (Tory voters) expect from our party. And no, I won't be buying a 4090.

The fact you are saving the money demonstrates precisely why this budget is such a total and utter disaster.

Real conservatives would care about the public finances.....you are simply stealing from future taxpayers.

 

[200sols]

Actually it is due to the announcement of the UK being in a recession creating more downward pressure.

Its not really, mostly all currencies were down against the dollar, now the pound has fallen about an extra .5% against a basket of other currencies as well. These tax cuts make everything worse for the UK I dont know why you defend it. But I also think discussing one days trading on FX markets is pointless as they often whipsaw.

 

[413x]

You see, I actually think higher earners should pay more tax not less so I disagree with you there, the US not an example I want to follow either. What they have announced today is nothing short of disastrous IMO.

Indeed. The rich poor gap in the USA is ridiculous. Holiday time and working conditions are worse. I was shocked how little holiday you get over there.

Its not always jealousy.

We should be paying more tax. NHS is in a dire way. I fear it's eventual collapse.


I had a referral for an urgent procedure this week. Called to check wait time. 72 weeks.
I paid for private. Luckily I can. But most can't.

 

[a1ex2001]

No, i knew a couple of guys who did nothing but LSD, went to raves, ****** up their brains and then went to pot.

I'm assuming troll because you can't possibly believe that everyone who is poor in this country is that way because that had a drug problem, didn't work hard enough or enjoy the benefits lifestyle...