Budget Oct 24 Thread

Laura Trott similarly got a kicking on Politics Live. Should have stuck to cycling.

Can someone explain the car road tax thing again to me please, really slowly !

@robertajobb

The first year ‘tax’ is doubling, but that’s included in the on the road price of the car, so effectively car prices will go up and the difference is going to the treasury.

Thereafter, the additional £410 on top of the VED for cars over £40,000 list price (regardless of the price you pay for it) is paid from year two to six and this hasn’t changed today (was half expected to).

Tax on tobacco to increase by 2% above inflation, and 10% above inflation for hand-rolling tobacco

Who amongst you lot on STW reported to the Chancellor of the Exchequer, The Rt Hon Rachel Reeves MP. that I smoke hand-rolling tobacco and should have a tax hike of above 10% for hand-rolling tobacco?
The current 50 grams of hand-rolling tobacco is £31.50 and I can have a few puffs if I roll it thin to last me a while.
Does the Chancellor of Exchequer now just want me to smoke the hand-rolling tobacco paper only?

Although they’ve got till April 2027 to either die or put another plan in place.

Working on it.  Anyone got a contact for C&H?

think plenty of normal folks will be caught by things like share schemes they get as a benefit of work. Certainly I’m no millionaire but it’ll cost me a couple of hundred quid at least

Can I check if you’ve looked into transferring them into an ISA to minimise tax?

The thing I find annoying is that no one points out a basic point, putting money into the NHS is the same as spending it on a large infrastructure project in terms of benefit. The money spent on wages especially at the ‘normal’ end of the scale- admin, orderlies, nurses and resident docs, will be pumped straight back into the economy. Buildings will see money recirculating as well. Some high level equipment, scanners MRI and so on are all available in the UK, not all obviously.
On top of this we have a healthier workforce, happier people, and cheaper long term health costs if waiting time are reduced.
Surely spending money in the NHS is always a benefit as long as it’s being spent well, not some black hole that sucks money in and it disappears.

chewkw

I smoke hand-rolling tobacco

Chew, zero malice intended here but is that really the heaviest financial burden your “smoking” entails?

Come on you tyke, out with it, out with it!

You are amongst friends… generally bloody confused friends after we read your posts, but friends none the less!

You forget the Covid £ that the tories funnelled to their mates who promptly off shored it.

Increasing the bus fare cap to £3 saves £350m (compared to keeping it at £2).

Keeping fuel duty as is will cost £20bn.

Could be bullshit but I’m seeing people on Twitter saying the cost of maintaining the fuel duty freeze and the annual bus ticket revenue for the whole of England are practically identical at about £3bn. IOW you could have made all buses free simply by reinstating the fuel duty escalator…

Does the Chancellor of Exchequer now just want me to smoke the hand-rolling tobacco paper only?

Ideally, not even that.

Increasing the bus fare cap to £3 saves £350m (compared to keeping it at £2).

Keeping fuel duty as is will cost £20bn.

That decision was pure politics, it doesn’t make financial sense, it’s objectively not fair and it doesn’t help the environment. 

But…

They would have been annihilated in the press, online and in almost every living room tonight. That’s ok I suppose but it’s the sort of detail that voters will remember in 5 years time at the next GE and likely punish them for.

As a political move, to ensure they stay in power long enough to actually make real positive changes in the future, it was the right choice in that context. Sadly.

Looks like inheriting the family farm just got turned on its head.

Thanks to the wealthy and their aiders hijacking the sector to avoid inheritance tax.

I’m sure the big farms can take it, and what a privilege to inherit that anyway even after tax, but it looks sketchy for small family farms.

It was a giant loophole though. People gaining their wealth outside farming, and then in their retirement years buying farms, playing at running them (or letting others pay them for the privilege of running them), ready to pass on the land to their adult and already wealthy kids as a nice big tax free inheritance. 

Does the Chancellor of Exchequer now just want me to smoke the hand-rolling tobacco paper only?

If it’s any consolation they’re slapping a tax on vape liquid….

And so it begins…

I expect it’ll be 20 quid a bottle in a few years, with £18.50 of that being tax

It was a giant loophole though

Indeed. But in closing it, and doing so in this manner, taking out the farms even just big enough to sustain a family.

Laura Trott similarly got a kicking on Politics Live

To be generous to her… she’s not the sharpest tool in the box.

Its a telling sign of where the Tories presently are that her and Gareth Davies are both ministers in treasury roles – so nothing important then – who you wouldn’t leave unsupervised with a pair of scissors, never mind the counties economy