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The budget today so......

(89 Posts)
GillT57 Wed 19-Mar-14 12:14:45

I am off to panic buy some chocolate to eat as I listen to The Budget and then realise that as ever, there is nothing in it for me. May buy a bottle or two of gin on the way home too. wine

grannyactivist Wed 19-Mar-14 12:42:33

We don't smoke, drink much or gamble and we share one small car, so we'll probably not be much affected personally. Help with childcare costs is what most young working folk need I think; that would certainly help my daughter.

Experigran Wed 19-Mar-14 12:53:05

I often wish that I smoked, so that I could give it up and save some money smile

ninathenana Wed 19-Mar-14 13:07:40

grin Experigran

mollie65 Wed 19-Mar-14 13:28:11

not a lot for the 'older generation' so far
personal allowance for over 65s now same as the rest - fair enough but still too low
tax free savings limit increased - would be good for savers if the interest on ISAs was a little bit more angry

LaraGransnet (GNHQ) Wed 19-Mar-14 13:28:32

Just announced pension changes - changing legislature so no need for annuities. More freedom over our own money. Thoughts?

CariGransnet (GNHQ) Wed 19-Mar-14 13:29:42

Also pensioner bond...from the BBC

New pensioner bond available to anyone aged over 65, Mr Osborne says. "The exact rates will be set in the autumn, to ensure the best possible offer - but our assumption is 2.8% for a one year bond and 4% on a three year bond."

mollie65 Wed 19-Mar-14 13:31:41

oops - just realised I am eligible for the 'granny bond' grin shame I don't have £10000 going spare

weevil Wed 19-Mar-14 13:42:20

All very well telling us we are free to draw down from our pension pots as we please, but thanks to the Tories how much of a pension pot do we actually have to draw down on?

papaoscar Wed 19-Mar-14 13:52:35

Fact - we pensioners and savers have paid for such handouts as have come out of the budget, whilst the rich - bankers especially - continue to do very nicely. Disgraceful! Enjoyed Ed M's lively response + Deputy Speakers pointed interjections.

rosequartz Wed 19-Mar-14 14:21:56

There was me thinking it was Gordon Brown who devastated and plundered our pension pots! Silly me. It was, apparently, the big bad Tory 'rich boys'. And, of course the banking crisis has been re-written to have happened on the Conservative watch, not under 'rich boy' Labourites.

It is really not worth the hassle of joining in a political duscussion on GN.

rosequartz Wed 19-Mar-14 14:23:55

Discussion. Although duscussion has a ring to it.

LyndaW Wed 19-Mar-14 14:33:40

It will be interesting how this pans out? In principle am keen on the idea of being more in control of my pension. But it does also give us an added layer of responsibility doesn't it? (If I've understood correctly!) Not that I'm planning on blowing it all in vegas but you'd have to be quite careful how it was invested once you do draw your pension, paltry as it may be. Did laugh about the isa though. As if my sons and their families have a spare 15k floating around to invest - pah!

jinglbellsfrocks Wed 19-Mar-14 14:47:59

MollieIt's up to ten thousand in the new pensioners' bond.

Nonnie Wed 19-Mar-14 15:21:33

Too late for our pensions, we have already bought annuities. I like the idea of the pensioners' bond as we have been losing out on our savings for years now.

I am concerned that some will just simply go on a spending spree when they can draw what they like from their pension. Will they then get a top up from the welfare budget?

rose do you think if the Labour Party get in next year they will claim that they are responsible for the figures forecast for 2018-19? Will it still be the bankers who are blamed for everything that goes wrong including the rain? grin

Galen Wed 19-Mar-14 15:29:33

Have to consult my financial adviser.

Galen Wed 19-Mar-14 15:31:53

Does this pay to draw out of my iISA to buy a grannie bond?

rosequartz Wed 19-Mar-14 15:35:39

Nonnie hmm

My financial adviser is me

Nonnie Wed 19-Mar-14 15:40:44

I should think so Galen but we need to wait and find out what the tax situation on the granny bond is. I think it is still likely to be a better bet but then of course you won't have the money in an ISA in years to come if rates go up.

rosequartz Wed 19-Mar-14 15:48:39

And the better rates apply if you invest for 3 years I think.

POGS Wed 19-Mar-14 16:11:22

I thought it was a good budget statement.

jinglbellsfrocks Wed 19-Mar-14 16:42:28

Is the pensioner bond going to be taxable? Would think so. You need to take that into consideration when deciding Galen. And at the end of the three years you would be restricted to that year's allowance to go back into isa-land.

vegasmags Wed 19-Mar-14 16:46:56

It's still not a patch on the Index linked, national savings certificates which were tax free. Unfortunately they became a victim of their own popularity and were withdrawn.

jinglbellsfrocks Wed 19-Mar-14 16:48:16

Yes. And they haven't issued a new Children's bond for ages. angry

Galen Wed 19-Mar-14 16:49:16

I'm lucky with my lifestyle if I have a couple of thousand to go into an Ida, and then my Pfa tells me to put into my sip. I still don't understand any of it. I'd rather spend it anyway.
Cunard here I come!
Just worked out, the world cruise I'd love to do in princess grills on cunard would be a mere £60000.
Anybody know what Brightons like these days?