Autumn Budget 2022

[Freefaller]

There are much better solutions for businesses and drivers who aren’t in EVs. But this is going very off topic.

Ah fair enough - not something I've ever needed to use/explore, so am quite naive about comapny car stuff.

 

[burtie]

Windfall tax on energy companies.
Abolish non-dom tax status if you live here pay your tax.

I'm dreaming right?

 

[1pudding1]

Until they tweak their earnings to go under the threshold. Those that earn that much surely have quite savvy financial capability? I mean I'm on a decent enough wage and do some salary sacrifices to maximise pension / tax elements, so it's not beyond the wit of imagination to expect those earning that much to do the same?

Except, if theyve already done this and dont have much scope left to sacrifice into pension/benefits etc, then basically sometimes the best option is to work less/go part time, and then the actual total tax taken reduces. I've done this myself, more for the part time lifestyle not tax reasons, but more and more in my profession are going part time as the financial reward for working full time just isnt there, and this reduced threshold will just speed up that deicsion and reduce the total tax the government get.

 

[Freakbro]

Oh look, increasing the tax rates/decreasing thresholds to increase the tax take....who would have thought it....well, not the people who just shout 'laffer curve' at every opportunity obviously...

I thought all the high earners would leave the country if we tried to take more tax off them?

 

[inferno]

This country needs to address the fact that we have very few industries, tech companies etc that actually export and make money for the country. Most people are just working in industries that circulate money in the UK. Couple that with no energy and I don’t think the future is bright.

 

[Freefaller]

He's reducing import tax on a swathe of technology products to help drive productivity apparently.

 

[Uther]

10.1% benefit increase
NLW £10.42
Pension credit up 10.1%
Triple lock kept.

 

[CapitalOne]

He went all Churchil at the end, I've pulled my cringe muscle.

 

[Richie]

I love how they said that the state pension increase is the biggest in all time. Well, yes, but that's because inflation is so bloody high...

How to take a huge negative that you created and use it to push it as a positive

 

[200sols]

10.1% benefit increase
NLW £10.42
Pension credit up 10.1%
Triple lock kept.

Should have ditched triple lock and increased benefits in line with average wages. Windfall tax sounds good though but the details will be important.

 

[Greebo]

I just wonder what it would have looked like without the Truss experiement

vastly different. No tax cuts but there wouldnt have been any tax rises either.

 

[Kill_Phil]

vastly different. No tax cuts but there wouldnt have been any tax rises either.

Exactly. I dunno how come out with this crap with a straight face considering they caused the mess in the first place

 

[Greebo]

EVs to pay RFL from 2025. Surprised it’s taking so long. Also mentioned something about company car tax increasing but not hugely. Didn’t get the detail.

its gone up by 1% for the last two years but was set to remain at 2% unless he changed it today. Easy and not onerous to just keep increasing it by 1% per annum so 23/24 is 3% and 24/25 is 4%. He may well have gone higher, havent seen the details yet

EDIt Just another 1% from 2025 so barely anything tbh.

 

[Ahleckz]

Rachel Reeves telling it like it is. Worst performing member of the G7 & G20 (less Russia). We’ve been on a downward spiral well before covid and the war. All other g7 countries have recovered from covid. We haven’t.
We have the lowest growth of the g20 less Russia.
This is because the Tory government choices, not the global situation.
It’s a disgrace.
GE needed now!

I believe the Scottish budget is next month, be interesting to see where they spend their pocket money.

 

[fez]

Exactly. I dunno how come out with this crap with a straight face considering they caused the mess in the first place

They've been doing it for over a decade and getting away with it. Why wouldn't they think they can keep doing it.

 

[fez]

GE needed now!

Its OK, they will hand over a complete **** show of a country to labour after the next election (although I still have little faith they won't win the next election) and the very next day will be on the attack saying that labour created the mess they inherit.

Like most people I imagine however, if I think about these things too much I feel depressed about the future so I try not to.

 

[SDK^]

1% BIK - again not till 2025. Seems daft to wait that long - we need the cash now!

To clarify this
It’s a 1% increase every year from 2025.
The BIK is already at 2% for EV’s

Why 2025?
The current system was previously locked in until then.

 

[D.P.]

Rachel Reeves telling it like it is. Worst performing member of the G7 & G20 (less Russia). We’ve been on a downward spiral well before covid and the war. All other g7 countries have recovered from covid. We haven’t.
We have the lowest growth of the g20 less Russia.
This is because the Tory government choices, not the global situation.
It’s a disgrace.
GE needed now!

I believe the Scottish budget is next month, be interesting to see where they spend their pocket money.

Almost like since Brexit all those things mentioned as Project Fear have become reality.

 

[Freefaller]

To clarify this
It’s a 1% increase every year from 2025.
The BIK is already at 2% for EV’s

Why 2025?
The current system was previously locked in until then.

Thanks for the clarification

 

[Greebo]

To clarify this
It’s a 1% increase every year from 2025.
The BIK is already at 2% for EV’s

Why 2025?
The current system was previously locked in until then.

Locked in but doesnt mean somebody couldnt change it if needed. When that was set it was in 2019/2020. The world is a different place now.