Budget 2024

[bluethrunthru]

These are the consequences of Tory rule, they left the place in shit state.

You heard it today - they promised the moon - money for compensation schemes - fix housing and the NHS - get rid of RAAC (40 new hospitals?) but behind all that there was no money - a promise to pay sub-postmasters or to fix RAAC is just verbal soup and an outright lie if you don't have the money set aside to back it up. They were plundering the reserves and had spent them several times over which was why Sunak went to the polls. He was about to have to explain that the UK credit card had been cut up and the bank account emptied and unlike Johnson he doesn't have a relative who could arrange an extended loan facility of say £40bn

 

[stan bowles]

That may have been in the case in the past, it may ultimately prove to be the case this time. But all the government can do is apportion the extra funds to the health service and then hope they utilise it for the greater good, no? That's literally the Labour government's end of the bargain fulfilled.

I agree the NHS needs a bureaucratic overhaul, but it's too early to say whether this budget won't address that.

History shows those executives in charge of our public sector bodies are either inept, corrupt or unaccountable.

I did welcome her announcements on the compensation schemes for victims of the infected blood scandal and Post Office miscarriages of justice. Those are long overdue and shame on the Tories for not addressing them whilst in office.

 

[mosssideblue]

No and i wouldnt need to , she said they are applying the tory plan to benefits and say they can save three billion , i have experienced the assessments for many years , including ATOS , they have put a target number on it , they wont be trying to get people like me into work i cant do , but will try and leave me in a state with less support , will make me anxious to fuck again

They are looking at pips as well , sunak plan was to not pay it monthly but a one off payment , i rely on that to live and increasing care needs, private is the only option and i have no savings left , i am scared

Fear no more over Pip, that Tory thinking has been quashed by Labour

 

[mosssideblue]

Why no windfall taxes?

Thought there was

 

[BeerIsTheBest]

Good to see pensions will be included in inheritance tax calculations. Shame they're freezing the threshold till 2030 though.

Would be interested to see your reasoning to why this is good?

Many folk have planned their retirements on the basis if they die their residual pension arrangements would be passed tax free to their dependants.
This contingency now taxed at 40%.

No government should be allowed to piss about with long term saving plans in this way. Sure, taper a tax in over years but Christ, what a blow to many.

 

[Kompany Car]

If anyone wants a nice simple summary of the budget changes, the link below from James Shack who has a pretty good YouTube channel dealing with finance is pretty useful.

https://mailchi.mp/b68c37bfd9b7/the-autumn-budget-my-summary-analysis?e=cb64d4f292

 

[bluethrunthru]

I agree the NHS needs a bureaucratic overhaul

My recent experience tells me that the admin is ripe for privatisation and dragging out of the 90's.

Two weekends ago I got a call to say my iron was low and that I must go to A&E for a transfusion - I was admitted at 11.30pm Friday - woken at 7.40 Saturday and had no tests until midday. Then I got a transfusion of blood and was told I was staying overnight - promptly at 1pm on the Sunday I got a second unit and was discharged at 11.30pm.
The following Sunday I had to return to get an irons transfusion. Reported at 8am as requested and was told they would get the iron when the blood bank opened at 10am. I was transfused at midday then sent home.
I was a bed blocker. Why get me in on the Friday night. Pound to a penny at least one person who came into A&E waiting for bed to be available on a ward which I was in for over 12hrs with nothing happening then again in a cubicle on SDEC from 8am 2 hours before they could even access the iron never mind how long it actually took. A computerised almost "just in time" system would surely be better.
Also Drs and nurses push trollies about on which are laptops with my obs and treatment details on them. They come to me to take SATS, blood pressure etc then rips some paper towel off the wall and write them on there with a pencil in a manner Florence Nightingale would be proud of.

 

[hcblue95]

Would be interested to see your reasoning to why this is good?

Many folk have planned their retirements on the basis if they die their residual pension arrangements would be passed tax free to their dependants.
This contingency now taxed at 40%.

No government should be allowed to piss about with long term saving plans in this way. Sure, taper a tax in over years but Christ, what a blow to many.

I think it's fairer to close this loop hole. Pensions shouldn't be a way to pass on inheritance without paying tax. Inheritance should be taxed more strongly. Only around 4% pay it.

 

[Millwallawayveteran1988]

What is good about it - It’s outright theft - I chose to invest in a pension because the rules were in place that made it the best place for my family. At a stroke this twat has stolen 40 percent.

Would be interested to see your reasoning to why this is good?

Many folk have planned their retirements on the basis if they die their residual pension arrangements would be passed tax free to their dependants.
This contingency now taxed at 40%.

No government should be allowed to piss about with long term saving plans in this way. Sure, taper a tax in over years but Christ, what a blow to many.

All reliefs will still be available.

Pension funds generally are only tax free currently (free of all taxes) if you die before 75. Post 75, beneficiaries pay marginal rate income tax on any withdrawals.

Anyway full detail is in this document.

Technical consultation - Inheritance Tax on pensions: liability, reporting and payment

www.gov.uk

This is an idea of how many people will be affected.

 

[The Future’s Blue!]

So if all the rich leave who buys their houses? Anyway if they don’t want to pay their share fuck em I don’t want them in this country.

I’m not sure anybody wants them to leave, or businesses deciding to shut up because they have to pay extra taxes. However, if they do, that will leave a hole in the market that the next generation will fill.