Budget 2024

[Brewster's millions]

BBC's More or Less did an assessment of claims about how many might die because of withdrawal of WFA and said it was impossible to put a figure on it. How could you calculate the effect of having only a £1100 pension increase over two years rather than £1300 with the WFA?

I would have thought that you were expertly placed to answer that question, given that Labour produced its own risk assessment on withdrawing the WFA as recently as 2017.

Can’t you just ask someone in your party to talk you through it, and explain the methodology? Can’t be that difficult because it’s not that long ago.

 

[Churchlawtonblue]

Quite a few big companies predicting price rises as a result of the large tax rises on business anounced in the last budget. I guess thats why the BofE are being very cautious about reducing rates further. Bailey is gradually learning from his past mistakes.

 

[TinFoilHat]

Quite a few big companies predicting price rises as a result of the large tax rises on business anounced in the last budget. I guess thats why the BofE are being very cautious about reducing rates further. Bailey is gradually learning from his past mistakes.

Price gouging to keep their profits up.

Be nice if the 'party of the workers' kicked them in the bollocks for doing so.

 

[Churchlawtonblue]

Price gouging to keep their profits up.

Be nice if the 'party of the workers' kicked them in the bollocks for doing so.

That is your assumption, but I suspect the reality is different.

It is in our sector. This alternative reality is that companies profits have already been squeezed by staff wages inflation and they have no choice but to pass these costs on.

I expect many small businesses to do the same, especially in the hospitality trade, where existing staff shortages and rising costs will only be exasperated by these tax increases.

I suspect the B of E is expecting a negative inflationary affect from the budget. Interest rates will stay roughly at the existing level and one consequence of this will be that the very large housing targets set out by the new government will be missed by a significant margin.

 

[The Future’s Blue!]

That is your assumption, but I suspect the reality is different.

It is in our sector. This alternative reality is that companies profits have already been squeezed by staff wages inflation and they have no choice but to pass these costs on.

I expect many small businesses to do the same, especially in the hospitality trade, where existing staff shortages and rising costs will only be exasperated by these tax increases.

I suspect the B of E is expecting a negative inflationary affect from the budget. Interest rates will stay roughly at the existing level and one consequence of this will be that the very large housing targets set out by the new government will be missed by a significant margin.

Seems all so negative.

Listened to a treasury official who said that there were a few downsides but, in the round, this is what needs to happen if we want public services.

 

[Churchlawtonblue]

Seems all so negative.

Listened to a treasury official who said that there were a few downsides but, in the round, this is what needs to happen if we want public services.

Well that's a government spokesperson so you could say he would say that. The proof of the pudding is in the eating. If we still get good growth then the budget will have worked. You can't pay for all these benefits without growth.

However the BofE seem to be acting very cautiously, which indicates hat they think it's not going to be all plain sailing. This is actually a nice change as Bailey has got his predictions on inflation very wrong in the recent past.

 

[The Future’s Blue!]

Well that's a government spokesperson so you could say he would say that. The proof of the pudding is in the eating. If we still get good growth then the budget will have worked. You can't pay for all these benefits without growth.

However the BofE seem to be acting very cautiously, which indicates hat they think it's not going to be all plain sailing. This is actually a nice change as Bailey has got his predictions on inflation very wrong in the recent past.

Do you remember where we were, only a few months ago?

A balance has to be made, what balance do the rich want to accept?

What we have been given is the people subsidising the people (Universal Credit), while others take that money out of the economy.

You must be a business person, please tell me what you brought to the party?

 

[metalblue]

Well, congrats on inheriting £2m of farmland and presumably a viable commercial business to go with it.

For starters isn’t it 20% above £1m? If so we just reduced it to £200k. Then you look at the books of what will be several hundred acres of farmland, turnover, profit, loss, employee numbers etc - because this is a business not farmer fucking Giles toodling around on his fucking tractor and you borrow against the farm if it’s a profitable and viable concern.

Average UK farm size is 40 acres, so unlikely to trouble the £1m threshold. If owned by a married couple then good estate planning may get you a combined £2m threshold (not an expert here!).

Bottom line. Let me inherit £2m of land and a viable business and I’ll figure out the rest :)

Average farm size isn’t going to be 40 acres. 40 acres is nothing - probably enough to feed 30 sows if set to barley for a year and sell the weaners to market. A hobby farm at that size, you won’t make a living off it.

 

[Churchlawtonblue]

Do you remember where we were, only a few months ago?

A balance has to be made, what balance do the rich want to accept?

What we have been given is the people subsidising the people (Universal Credit), while others take that money out of the economy.

You must be a business person, please tell me what you brought to the party?

There are many different ways of raising tax. Raising it the wrong way only results in a recession and more UK borrowing.

Fyi yes and I have paid every penny of tax I have owed for the good of our country and I am pleased to do so, unlike many big corporations who do not.

Look through my post history on this thread and you will see my thoughts on this in more detail.

 

[carlosthejackal]