[Closed] Budget thread

penny off a pint, cheers George!

Oooh less income tax.

ISA limit up to £15k!

Rejoice!

[i]You can now save more in your ISA (£15k) than you can earn on the London living wage (£13.7k)[/i]

Bingo tax halved???!! WE ARE SAVED!!!!

Among them, Mr Osborne says he will be "waiving inheritance tax for those in our emergency services who give their lives protecting us".

You're dead here's your thank you.

Budget for old people and 66% of people aged 65+ vote.

Only 44% of 18-24 year olds vote.

Politician in making decisions based on pleasing those likely to vote for their party shocker.

Budget for old people and 66% of people aged 65+ vote.

What we need are more young people playing Bingo......

Time to vote Tory again. 😆

A penny off a pint, you say? Looks like we're all off to the pub for the afternoon then.

And then vote Tory, obviously

Cheers Gideon!

Time to vote Tory again.

There's no need, they've given you the Bingo tax break, so now you can vote Labour and satisfy your conscience and your wallet 😉

I never understand the penny off a pint thing.

In real terms it means pretty much **** all to the individual (a really big drinker could save 12-15 pence) yet the cumulative effect would be quite a lot of tax revenue.

I never understand the penny off a pint thing.

I fully agree, but if he suggested a penny on petrol the motor lobby would be up in arms about the end of the world.....

On the other hand, I think I will vote UKIP clown instead just for the fun of it to let them wind up the Eurocrates. 😆

Isn't the penny off a pint more likely to help the pub, not the drinker? A penny less tax means a penny more profit? Not a bad thing BTW, just an observation.

HOUSE!

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quite a shrewd move 3 million bingo players in the country, mostly women in poorer areas!

Isn't the penny off a pint more likely to help the pub, not the drinker? A penny less tax means a penny more profit? Not a bad thing BTW, just an observation.

Nail. Head.

Crikey, me and my 2.4 family will be about £800 better off in fy15/16. Time to go blue?

Eh? What?

I'll pay attention again when i'm back off minimum wage.

Penny off a pint? I'd rather that they halved tax on pork scratchings - that'd save me more, and put money into real pubs, not poncy wine bars. 🙂

Does this mean you can put £15k annually into a cash isa from next month?

Cash and shares Isas to be merged into single New Isa with annual tax-free savings limit of £15,000 from 1 July

1st July is an odd date ? Normally all these things start on a tax yr boundary.

Kryton57 - Member

Crikey, me and my 2.4 family will be about £800 better off in fy15/16. Time to go blue?

No, that just makes you selfish.

dangerousbeans - Member
I never understand the penny off a pint thing.

In real terms it means pretty much **** all to the individual (a really big drinker could save 12-15 pence) yet the cumulative effect would be quite a lot of tax revenue.

Drinkers never see the penny anyway, I guess the pubs get a slight bonus in hard times though.

hard times

? and there was me thinking Britain is booming.

Shares in gambling firms are falling as the City reacts to the new 25% tax on fixed-odds betting machines. Ladbrokes are down 4.5%, and William Hill down 3.8%.

Well it's a start. 99% would have been better though....

agreed footflaps

Quite right....those fixed odds machines are a cancer that should be cut out completely!

I have to say (and don't flame me for this) when the appalling deficit numbers were set out after the last election, along with all the rest of the endless doom and gloom, we NEVER expected serious growth, serious reductions in unemployment, reductions in the deficit etc etc for years to come.

George is a total GENIUS!

we NEVER expected serious growth, serious reductions in unemployment, reductions in the deficit etc etc for years to come.

And you didn't get it - despite inheriting a growing economy recovery was delayed for three years.

George is indeed a genius for convincing, those who want to be convinced, that delayed recovery is some sort of great achievement.

Inheriting a growing economy??? 😯

I seem to recall the money had all gone, the deficit was wildly out of control, people everywhere at every level were losing their jobs and we were entrenched in recession along with all of europe and the US.

Seems to me that the decisions taken have put us into a far stronger position than our European and US Allies.

And it's still delayed, we're still not back to 2008 levels and won't be for some time...

Seems to me that the decisions taken have put us into a far stronger position than our European and US Allies.

If you mean encouraging another debt fuelled housing boom to shore up the economy, as that's all they've really done with their help to buy scheme.

[i]If you mean encouraging another debt fuelled housing boom to shore up the economy, as that's all they've really done with their help to buy scheme.[/i]

You gotta be kidding me....that scheme has only used £150M (from his speech) the housing bubble is as a result of confidence. People who have held off for the past 5 years see NOW is the time to move.

[i]And it's still delayed, we're still not back to 2008 levels and won't be for some time...[/i]

In 2008 we were spending far more than we were earning, which is how we got into this mess. We NEVER want to get back to 2008 levels of spending, just earning.

Wow, he's removed the compulsion to buy an annuity on retirement.There'll be a number of brown-stained trousers in Life and pension companies up and down this afternoon I’d imagine…

I love the Osborne quote [i]"People who have worked hard and saved hard all their lives, and done the right thing, should be trusted with their own finances. And that’s precisely what we will now do. Trust the people.”[/i]

Brave man, George. I think you’ll find that many of the people will sp@nk their pension pot in about 5 years and spend the rest of their retirement on the basic state pension…

And it's still delayed, we're still not back to 2008 levels and won't be for some time...

Didn't I hear recently that we will be back at 2008 levels later this summer?

[i]Brave man, George. I think you’ll find that many of the people will sp@nk their pension pot in about 5 years and spend the rest of their retirement on the basic state pension…[/i]

Thats just insulting people. Yes there will always be a few, but don't you think its ridiculous that people who have saved all their lives can't touch most of the money they have saved? If you had enough to last you for years and knew you were dying, wouldn't you want to access that money to give to your family, or even spend? Currently if you die a year into your pension, you never get a penny back. (or your family doesn't!)

Inheriting a growing economy???

Yep. In his 2010 budget speech Osborne forecast that growth would be 1.2% that year - he became Chancellor in May 2010.

Osborne also in his 2010 budget speech predicted that growth would be 2.3% the following year, and 2.8% in 2012.

He promised uninterrupted growth.

If you had enough to last you for years and knew you were dying, wouldn't you want to access that money to give to your family, or even spend?

If you are severely ill you can already access your pension early, there are special provisions to cover this.

[i]Yep. In his 2010 budget speech Osborne forecast that growth would be 1.2% that year - he became Chancellor in May 2010.

Osborne also in his 2010 budget speech predicted that growth would be 2.3% the following year, and 2.8% in 2012.[/i]

Okay...and from the info he had at the time, it was probably realistic. BUT...we then had the Greek tragegy, Spain almost collapsing, bail outs etc which caused massive shockwaves.

I said he was a Genius, not a Fortune teller!

Didn't I hear recently that we will be back at 2008 levels later this summer?

Not sure, but the cuts to state spending were back loaded, so we've not seen the bulk of those yet. More council lay-offs, less disposable income being spent in shops etc.....

So, if you don't buy an annuity what DO you do instead? Just nibble away at the pot itself, or just take the whole lot and invest it somewhere? Sounds like more confusion for Joe Public to me......

[i]Thats just insulting people. [/i]

Maybe, but then I've met people, and a 20 year career in financial services has taught me that the majority can't be trusted to make difficult and important decisions about money.

So they are not going to put fuel duty up in Sept as planned.

Are we supposed to be grateful? On the back of the fuel price rises the Treasury have racked in the duty and taxes massively.

Sometimes I think they treat us as though we are apathetic simpletons.

Oh hang on.

Rockape63 - Member

In 2008 we were spending far more than we were earning, which is how we got into this mess.

Not so much.