2022 mini-budget discussion

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Besty said:
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.
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Is this a parody account?
 
mid_gen said:
I knew 'stealing' would trigger people.

What Truss is doing is taking money from future taxation, to give very wealthy people a handout.
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It is exactly this

The richer you are the more you benefit.
All the time taking money that was directly attributed to the NHS (NI rise), effectively wiping out billions a year paid by the richest (stamp duty) that would go to national debt.


Debt is going to rocket while under truss. All when the interest on that debt is going up


Its sad. At this point I won't be able to spend in our economy.

Food, holidays and mortgage is all that I'll be using money for. Because house prices are now so high and so affected by inflation that who knows what rates will be in 5 years when our fix ends?

Its a long way in future to think about. But it has to be thought about
 
Besty said:
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.
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I’m sorry, but if these tax cuts save you 30-40k a year, you are rich. Might not be upper echelons of rich, but Jesus.

I’m on 45k and wouldn’t begrudge paying slightly more tax to invest in the country’s infrastructure, the country is going backwards, the Truss era has just accelerated it.
 
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The change of the top rate is a huge miss step. Genuinely a joke given the current economic situation.

@Besty in a £1m income household feels "not rich" :cry:
 
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Besty said:
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.
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you've got to be trolling surely? bravo bravo!
 
On the one hand it's nice that a Conservative government is offering tax cuts.
On the other I think removing the top rate of tax is a mistake, and it would have made for more sense to use that budget to do something about the higher rate band - perhaps increasing the point from when it's paid, so more of the middle earners benefit (along with the big earners).
 
Chris Wilson said:
Are you and Itron putting him forward as an example of "black privilege", Eton, arrogance, and all that...? People here have been clamouring for Boris' head, and more multicultaralism in governement. Boris is gone, and you now have the latter in spades in this cabinet
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Just skimming through this thread, but I'm surprised the mods let you get away with that one.
 
This new Trussenomics is awesome. For the first time is a generation there will be an opportunity for the opposition parties to have a differentiated economic policy that doesn't look like planting "magic money trees". It's the gamble of the century to suggest that tax cuts for the rich will stimulate economic growth and lead to higher output and a subsequent increase in tax revenues. Particularly with so much geo political instability and macroeconomic uncertainty. Rich people with flood funding into safe investments and bonds because that's how they preserve wealth in a period like this. They will then wait for the next bull market to re-emerge and accelerate the gap between rich and poor.

Meanwhile the masses will freeze and starve and generations to come will pay. We've got an NHS on it's knees, public services failing and industrial unrest building to 1970's levels. I can't see this ending well for the Tories and I suspect that there will already be back benchers plotting against the PM for shedding the only firm ground the Tories have been able to hold (that of fiscal responsibility). Sir Kier - you have been given an open goal, feel free to do a Panenka and rid us of these selfish, greedy, disconnected charlatans at the earliest opportunity.
 
Sui said:
I’m sorry, but if these tax cuts save you 30-40k a year, you are rich. Might not be upper echelons of rich, but Jesus.
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The calculation graph used above is for employees, if you are entrepreneurial, the numbers you save are much bigger, especially if you hold shares in listed companies.

There's probably a good bunch of peeps on the forum that freelance like me and the missus do, hold stock and will see similar yearly savings. The corporation tax rate and dividend changes alone are the bulk of the savings.

As for not spending it, well, all tax is legalised theft and its better I save it for a rainy day than have the government spend it for me. That is partially, what Conservatism is about.

Don't like it? Exercise your rights to vote for a different way or, even better, become entrepreneur yourself and take the risks.
 
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Calpol said:
This new Trussenomics is awesome. For the first time is a generation there will be an opportunity for the opposition parties to have a differentiated economic policy that doesn't look like planting "magic money trees". It's the gamble of the century to suggest that tax cuts for the rich will stimulate economic growth and lead to higher output and a subsequent increase in tax revenues. Particularly with so much geo political instability and macroeconomic uncertainty. Rich people with flood funding into safe investments and bonds because that's how they preserve wealth in a period like this. They will then wait for the next bull market to re-emerge and accelerate the gap between rich and poor.

Meanwhile the masses will freeze and starve and generations to come will pay. We've got an NHS on it's knees, public services failing and industrial unrest building to 1970's levels. I can't see this ending well for the Tories and I suspect that there will already be back benchers plotting against the PM for shedding the only firm ground the Tories have been able to hold (that of fiscal responsibility). Sir Kier - you have been given an open goal, feel free to do a Panenka and rid us of these selfish, greedy, disconnected charlatans at the earliest opportunity.
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Ironically, staying in the EU was much more likely to keep investment in the UK than this low tax economy.
 
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