Budget

Blue Maverick said:
If this is true it's a massive game changer for lots of people, in fact I'd say most people at the lower end would fuck pensions off altogether. I currently pay £400 before tax a month, so if I had to pay that net it would be around an extra £100 or so am I right?
Click to expand...
One, it may not even happen and there are not even any drafts as to how it would work.

Two, yes I'm sure many would and it would be a huge boost for people in my line of work and give you far greater freedom and liquidity.

Three, not sure I follow. If you currently pay 400 in from your net pay, you'd still pay 400 in after the changes, you just couldn't receive 100 from the taxman into your pot. (The benefit being that you wouldn't be taxed on the income from it down the line, the downside being you'd no longer benefit from gross fund roll up).
 
blueish swede said:
He's announced plans to change the way contributary pensions operate. At present your contributions come from your gross salary, before tax. Creepy will change it so that your contributions come from your net salary. This will effectively mean he takes 25% of your pension.

People are living longer and working less so this is another ticking time bomb that the Tories have left for future generations to clear up. Apparently there are going to be huge forests of Tory money trees in the future that will pay for everything. They've even got one as their logo.

AV-conservative-lo_1861494i.jpg
Click to expand...
Did you not know the tory money tree is a palm grove in the Seychelles (wouldn't do to have to contribute back into the society they milk for their profits ehh what old bean)
 
For those who say living on £100 pound a Week is impossible I say bollocks because I do, I am in a place that I cannot drink Alcohol, I don't smoke, No Pubs, No Television worthy of note except BBC International on loop, No Cinemas, no social life nothing. You may ask why I am here the answer is simple..to Work hard with no distraction in order to make my family and my life better in the future. There are no benefits here thus people clean motorways for money, Rascal would thrive here as this is his Utopia he spouts... be careful what you wish for Rascal !!!!
 
Bovril said:
For those who say living on £100 pound a Week is impossible I say bollocks because I do, I am in a place that I cannot drink Alcohol, I don't smoke, No Pubs, No Television worthy of note except BBC International on loop, No Cinemas, no social life nothing. You may ask why I am here the answer is simple..to Work hard with no distraction in order to make my family and my life better in the future. There are no benefits here thus people clean motorways for money, Rascal would thrive here as this is his Utopia he spouts... be careful what you wish for Rascal !!!!
Click to expand...
Where are you?
 
law74 said:
Did you not know the tory money tree is a palm grove in the Seychelles (wouldn't do to have to contribute back into the society they milk for their profits ehh what old bean)
Click to expand...
Not sure I understand. As swede thinks the taxpayer is losing out but then says that a Tory money tree will have to pay for it.

Ignoring that what he says is bullshit anyway, it surely can't be both. Either the tax payer is being screwed or hmrc lose out.
 
SWP's back said:
I didn't label anyone before you did.

I said the balance of probabilities. Which is correct. More working class inner city people vote labour than Tory.

Have a look at an election map if you don't believe me.
Click to expand...
Of course you labelled them. You perceived it as a Left Winger. I was simply trying to redress the balance by saying it was probably an upper middle class student.
Do you actually understand who go on massive left wing political rallies in London? It's made up heavily of upper middle class students having a day out. Those like Waters Step Son.
 
SWP's back said:
If 13m are worse off. How many of the 70m in the country are better off?
Click to expand...

13m families. that is 26million if married and 39million if they have 1 kid or 52 million people if it is average size family.

Come on pal, you really are not that stupid to be playing the thicko tory card. You also have more compassion than most so stop trying to outdo the RWNJs
 
I have a 22 year old son who's a post grad, and a 20 year old about to start his second year at uni, both have said they'll be out of this country within 5 years, and I can't blame them,
The under 25s aren't even worthy of the living wage, as they say to me, they'll never get on here.
and it's gonna get worse for them when it comes to housing, the rise in the minimum wage is predicted to push interest rates up, which will also put rents up.
 
My life has improved over the last year, but I'm well aware that others have become a lot worse, I can't even begin to form an opinion on that budget have the tories implemented some of Labours policies as their own? Clever if so, proper kicking Labour whilst they are down.
 
mackenzie said:
Of course you labelled them. You perceived it as a Left Winger. I was simply trying to redress the balance by saying it was probably an upper middle class student.
Do you actually understand who go on massive left wing political rallies in London? It's made up heavily of upper middle class students having a day out. Those like Waters Step Son.
Click to expand...
Yeah because it was a left winger
 
tshirtman said:
I have a 22 year old son who's a post grad, and a 20 year old about to start his second year at uni, both have said they'll be out of this country within 5 years, and I can't blame them,
The under 25s aren't even worthy of the living wage, as they say to me, they'll never get on here.
and it's gonna get worse for them when it comes to housing, the rise in the minimum wage is predicted to push interest rates up, which will also put rents up.
Click to expand...
by whom? Interest rates go up, by and large, to control inflation but I'll come back to that.

Ok, firstly, many on here have been calling for a rise in the minimum wage to a living wage and rascal for one, says the rise in minimum wage doesn't go far enough. Having said that, if people are then worse off due to a drop in tax credits then where is the inflationary pressure to push up interest rates (which at 0.5% base rate, a record low and has been in place for years)?
 
SWP's back said:
One, it may not even happen and there are not even any drafts as to how it would work.

Two, yes I'm sure many would and it would be a huge boost for people in my line of work and give you far greater freedom and liquidity.

Three, not sure I follow. If you currently pay 400 in from your net pay, you'd still pay 400 in after the changes, you just couldn't receive 100 from the taxman into your pot. (The benefit being that you wouldn't be taxed on the income from it down the line, the downside being you'd no longer benefit from gross fund roll up).
Click to expand...
No I pay £400 gross into it.
 
Blue Maverick said:
No I pay £400 gross into it.
Click to expand...
Ok well if the changes happen then you'll pay 320 into it from your salary but won't pay tax when you take an income from it.

In reality, people will just fuck off their pensions in all likelihood and pay into ISAs.
 
SWP's back said:
Ok well if the changes happen then you'll pay 320 into it from your salary but won't pay tax when you take an income from it.

In reality, people will just fuck off their pensions in all likelihood and pay into ISAs.
Click to expand...
How would the employers contributions work then?
 
You must log in or register to reply here.
Unread Posts

Don't have an account? Register now and see fewer ads!

SIGN UP
Back
Top