Budget 2024

[Lowtower]

Is the Country in financial turmoil?

Yes

 

[Ifwecouldjust.......]

No mate

Asylum seekers are all given £1000 upon arrival and put up in swanky hotels whilst "our own" are left on the streets, they then get given a house and live a life of luxury for the rest of days.

And every benefit claimer is screwing the system, as everyones mates sister has 4 kids, gets 50k a year and they have smartphones, flatscreen tvs and go abroad on holidays

Tell us your a Daily Mail / Express reader without actually saying the words Daily Mail or Express.

 

[Churchlawtonblue]

I don’t think it’s particularly informative to state that the private and public sectors are interlinked, given that one of the largest tax grabs in history was announced yesterday and the official fiscal forecaster is stating that private sector investment will be crowded out as a result.

Along with higher inflation, higher interest rates, lower growth and an extra £35bn in funding costs, based on extremely conservative assumptions.

It’s also frankly laughable, ludicrous in fact, to suggest that the public sector has been starved of funding when government spending was already running at an abnormally high share of GDP. Throwing many more billions at the NHS hasn’t worked previously, so I fail to see why this time will be any different.

Finally, if you don’t want to read different opinions on the Budget, then it’s perhaps best not to engage in a thread where people offer up different opinions on the Budget.

I haven't read the official independent reports, do you have a link?

 

[SiMCFC]

Farmers don't keep working until they die do they? They usually retire and hand over the reigns to the next generation. So there would already be a transfer of plant machinery and other assets.

Correct decision. Otherwise small farms would have been cannabilised by tax evaders buying up chunks of the countryside and using agricultural tax relief to get around IHT.

Lol, do you know many Farmers? I live locally to probably 10 farms within 10 miles and when I say they all chip in, they all chip in, most of the older generations still live and work on the farm as they dont have any actual cash when they come to retirement age, just assets that can't be sold without screwing their Children over so never actually retire.

 

[Churchlawtonblue]

People were encouraged to invest in a pension to provide for their old age, not as an investment tax avoidance vehicle to pass on.

No they weren't, hence the rules that allowed this. There was noting wrong whatsoever in doing this.

 

[Lowtower]

Lol, do you know many Farmers? I live locally to probably 10 farms within 10 miles and when I say they all chip in, they all chip in, most of the older generations still live and work on the farm as they dont have any actual cash when they come to retirement age, just assets that can't be sold without screwing their Children over so never actually retire.

This guy is the go to fella for all things farming

 

[SiMCFC]

This guy is the go to fella for all things farming
View attachment 137001

C###s

Got to love Jim.

 

[SiMCFC]

No they weren't, hence the rules that allowed this. There was noting wrong whatsoever in doing this.

Exactly. How dare people make good financial choices during their working lives to help their Children/Family out at a later date...

It's made me assess how much I will be putting into my private pension from now on.

 

[denislawsbackheel]

No they weren't, hence the rules that allowed this. There was noting wrong whatsoever in doing this.

The “rule” only started in 2015…
And since then the rich have ploughed billions of surplus cash in to avoid IHT.
Tough titty.

 

[Blue Maverick]

And this is the key. Many people are simply using their pension, on which they have received tax relief, to leave to future generations. The less well off don't do this because they actually use the pension to live on(what it's designed for) whilst those better off are able to hand it down to be put back into the economy, who knows when.

But it does go back into the economy eventually, certainly in the fire pension you had no choice on the percentage you paid, private ones as far as I know you can vary it upto a point. I’d think people may save less and use more in their youth (towards getting a house) if they think later on there’s a good chance the government will take a massive chunk once you go. I wouldn’t say I’m using mine for to live and it’s a bonus that once I go my wife would be looked after as her pension isn’t that good when she does eventually retire. I can’t get my head round what seems a jealousy of people providing a future for their families, if you put the time and money into, it’s like because some people can’t because they have lower incomes then why should anyone else!