Really? You want to try it. There's only a few things better than a good nicotine buzz from that first cigarette of the day.
I used to smoke, then I quit quite a few years back when I reaslised how stoopid it was. If you need that buzz to get you going in the moring, then that's even more reason to quit.
Having done the sums, it looks like somehow we are going to be better off. Hmmm.
Having done the sums, it looks like somehow we are going to be better off. Hmmm.
Are you sure? are you including all those indirect taxes?
Given the limited information that we have available to us yes it looks like we will be marginally better off.
That will however change when i try and get a job in the nhs in 3yrs time...
Better off? Even including the VAT rise?
Yip. Apparently so.
Some of us survive on not a lot of cash.
I wonder when people will actually wake up to the fact that you basically get what you pay for more or less. So Tax cuts = you not paying for owt, thus no services. Good health, education, public services etc etc = a bill that has to be paid.
What would really interest me now would be a breakdown of how and from where the £700bn odd of debt has been accrued. At the end of the day that is really the important issue. Most of us would never countenance a huge Credit Card bill, but would happily borrow a vast amount to buy a house. So what its for and what we got in return is a very significant issue, which is basically being swept under the carpet as far as I can tell.
The usual sceanrio when cuts are in the offing, are that we're all 100% in favour as long as it doesn't effect us. I'm pretty sure that what you are now seeing are cuts that will seriously effect all of us and I'd like to know why, factually and without party political bias getting in the way.
As stated above I'm not 100%, but I am pretty sure the Osborne did refer to the lack of essential investment by the government of the early 90's being a factor, but I suspect that a large proportion is down to the world economic crisis which is not solely our nations respoonsibility albeit we have to accept that our nations greed has played its part.
anyone know whent the public sector pay freeze begins?
i'm due for a pay rise in 5 weeks time y'see
Just buy less. I know I am. My used bike purchases dont attract VAT Though 8)
but I personally will be significantly worse off. Thats on well less that the average wage and Its going to cost me
TJ, you claim to earn "less than £25,000", but Im guessing not much less than otherwise you would have used a lower number.
2009 ASHE
report has median annual income at £21.3k and mean annual income at £26.5k, so you're not really "well less than average" regardless of the average you want to use.
as a basic rate tax payer you will benefit by £170 from the increase in personal allowance. As a public sector employee on more than £21k you will have pay freeze - just like everyone else in the private sector I should imagine. Im assuming (based on your prolific historical posting) that children's, disability, investment and housing benefit policies dont apply to you.
the VAT rise will cost the average taxpayer about £150 a year.
So out of interest, just where is this budget going to leave you "significantly worse off"?
Yossarian, due for a payrise or going up an increment? If the latter it shouldn't be affected, think the former is next April
as a basic rate tax payer you will benefit by £170
the VAT rise will cost the average taxpayer about £150 a year
It's when I see the figures like this that I always think 'meh' when looking at the effects of tax rises/reductions.
A year or so ago, the local Tories and Labour parties were arguing over two different Council tax increases. The actual difference that the two rises mean't to us? About 50p a week.
This year, the local Labour group went for a 0% increase in Council Tax. A 2% increase would have cost us 50p a week, yet done a lot of good locally.
I know that I'm in a fortunate position to be able to cope with these changes, but still...
Stonor - He won't be able to moan about those thick Tories which will make him considerably worse off - or is that wishful thinking
Tj's a part timer though?
It's when I see the figures like this that I always think 'meh' when looking at the effects of tax rises/reductions.
I whole-heartedly agree mike.
Its the hyperbole from both sides about the scale of impact of changes of taxation that annoys. The bigger picture is the cumulative effect on the macroeconomy that matters most.
Yossarian, due for a payrise or going up an increment? If the latter it shouldn't be affected, think the former is next April
cheers, its incremental but I'm also negociating a change of contract at present so useful to know whether further increments will be preserved...
Tj's a part timer though?
not on here he's not 🙂
Yeah, but they put VAT up in January, but don't change the personal allowance until April, that should bring them 3-4 months of extra revenue where we will all be genuinely worse off.
I do enjoy the posts proclaiming the huge divide in motivation, efficiency and conditions between the public and private sector. I've worked in both and saw by far the greatest waste when working for Tesco.
The VAT increase will effectively be 5% in year.
that should bring them 3-4 months of extra revenue where we will all be genuinely worse off.
Yeah but them is us right?
Yoss: OK, that made me lol. But TJ's a good guy.
the local Tories and Labour parties were arguing over two different Council tax increases. The actual difference that the two rises mean't to us? About 50p a week.
Friend (acquaintance, really, I suppose, nice guy though) is a lobbyist in Washington. He told me that before 9/11, the big political debate was between fiscal conservatism and tax-and-spend liberalism. The total amount involved in contention? Within the margin of error for the budget. Of course, since then, public debt has ballooned, there and here...
Yeah, but they put VAT up in January, but don't change the personal allowance until April, that should bring them 3-4 months of extra revenue where we will all be genuinely worse off.
The average tax payer will be £50 worse off over those 4 months. That's, what, 40p a day?
Besides, as tiger_roach says, that's 4 months of increased government revenue, so they can reduce the deficit, cut borrowing or replace an old person's hip or something.
Stoner - I only work part time. so the sums are odd. Hourly rate would give me £25 000 pa if full time so no pay rise but actual earnings from two part time jobs is about half that
However I did miss the impact of the rise in allowances so it won't be as bad as I thought. It will be basically just the extra Vat I will pay so substantially worse off is wrong
And for balance TJ, I reckon that the impact on me is:
Income Tax - no change as a higher rate payer
CGT - notional tax liability on investments increased by, say, £5k ish
VAT - as a higher volume consumer I expect the VAT will cost me somewhere between £200 and £250 a year.
My corporate tax will be cut by 3% so that will save me about £1k I spose
Who'd have thunk it? The first redistributive budget in 14 years! 😉
Better a pay freeze than a job loss. I suspect any moaners will be noted down and slung out at the earliest opportunity.
But a 25% reduction in spending in the public sector means job losses in both public and private sector jobs, so pay freeze followed by job losses.
Add to that a private sector not able to absorb the the current unemployed, where are the jobs going to come from to replace those that are going to be lost?
If yu want to have notional tax on investments mine is substantial. Won't be paid for a decade yet tho
any calculators out there to try and work out whats what?
TJ - on the extra info you've given then, you will bear less than the full estimated £150 extra VAT cost of an average tax payer but will benefit from the full £170 increase in disposable income that the move in allowances gives you, [i]and[/i] I assume will be elgible for a public sector pay rise in the coming years. Trebles all round for the proles I say! 😉
Dont tell me you're actually a [i]rentier[/i] are you TJ?
How very bourgeois of you.
Prole - what with my accent!
I am petit bourgeoisie thru and thru
Heres a thought - the zero public sector pay rise - does that apply in scotland?
NHS pay rates are set UK wide but councils and schools?
Not sure how they'll do it in the north.
Maybe set at the national budget level and its up to the SE to apply it to incomes or operating budgets if they want to.
I can't be arsed with it to be honest, every year its just a case of "bend over, its gonna hurt and there's nothing you can do about it" kill em all, thats what I say.
