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What would you like to see in the budget.

(234 Posts)
DaisyAnne Sat 12-Nov-22 15:46:39

I'm surprised to find I am a little scared about what he will come up with. So many people worried about what is to come.

I think the only area I would have a fairly firm view about is the NHS. NI was not set up to pay for it. National Insurance was just that and it pays, like any insurance, for a specific area, to cover working life issues and provide an end of work pension - that's why you stop paying at the end of your working life.

For the NHS I would rather they kept it as a separate tax - MI perhaps. Medical insurance would then be paid as a percentage of income right through your life.

I'm sure there are arguments against this but other than that everything else may have me cowering behind the sofa on Thursday.

MaizieD Sun 13-Nov-22 23:35:35

Tax should be paid by everyone including those who claim benefits.

What, exactly, would be the point of taxing benefits, swampy1961?

DaisyAnne Mon 14-Nov-22 06:35:21

MaizieD

^Tax should be paid by everyone including those who claim benefits.^

What, exactly, would be the point of taxing benefits, swampy1961?

There is an argument that would say we should raise our insurance benefits so that all can, for example, pay Council Tax and feel they still have a part in their community.

Also, no basic income UC, Pension Credit, Minimum Wage, etc., should fall below the bottom level of tax so again, making people part of the tax system gives them a sense of agency regarding our democracy.

growstuff Mon 14-Nov-22 06:43:57

Are you aware that almost all people, including those receiving benefits, pay a percentage of Council Tax? The amount depends on the level set by the local authority.

I doubt if there is anybody in the country who doesn't pay some form of tax, whether it's VAT, road tax or whatever. Moreover, the vast majority of people pay income tax and National Insurance contributions at some point in their life.

ronib Mon 14-Nov-22 07:50:26

Daisy Anne
Essential services from taxes are:
Defence
Education until 18
Nhs although with revised parameters
Transport
Housing

Non essential
Bureaucractic costs including allowances given to mps and members of the House of Lords. Halve pensions to former prime ministers. Public service to serve the public. Rethink refurbishment of palaces and the Palace of Westminster out of taxes.

Reduce foreign aid. Our more affluent allies could step in to bridge the gap?

Stop spending on vanity projects

Other measures
Two or five year work visas for skilled and required workers
Try to find new trading partners
Ensure London as a financial centre

volver Mon 14-Nov-22 08:05:54

Reduce foreign aid. Our more affluent allies could step in to bridge the gap?

Do you think we're the only country that pays foreign aid?

If other countries step in to "bridge the gap" as you put it, then they'll get the benefits. Not us. Foreign aid isn't altruistic and selfless charity. I wish people would appreciate what foreign aid is.

ronib Mon 14-Nov-22 08:13:50

volver

^Reduce foreign aid. Our more affluent allies could step in to bridge the gap?^

Do you think we're the only country that pays foreign aid?

If other countries step in to "bridge the gap" as you put it, then they'll get the benefits. Not us. Foreign aid isn't altruistic and selfless charity. I wish people would appreciate what foreign aid is.

For two years only, I would reduce foreign aid to ensure the vulnerable here including children and the elderly are protected.
I think the whole area of foreign aid needs a rethink…..

growstuff Mon 14-Nov-22 08:26:59

ronib What would your revised parameters for the NHS be?

growstuff Mon 14-Nov-22 08:28:21

Also:

What do you mean by "Public service to serve the public"?

volver Mon 14-Nov-22 08:29:32

As I said above.

Foreign aid the whole of last year, £14bn. Losses in the markets over 2 weeks due to Truss's budget: £300bn.

Cutting foreign aid won't help you.

ronib Mon 14-Nov-22 08:58:12

volver

As I said above.

Foreign aid the whole of last year, £14bn. Losses in the markets over 2 weeks due to Truss's budget: £300bn.

Cutting foreign aid won't help you.

Over 2 years, which is the time left to the present government, 28 billion saved on foreign aid which is almost 10 percent of Truss black hole. Our friends in the UAE might help out with more foreign aid?

volver Mon 14-Nov-22 09:05:25

Foreign aid isn't like putting 50p in the collection box when you feel like it. Foreign aid is commitments and contracts.

I suppose you could try saying that you've not going to pay your car tax this year but the well off bloke down the road should do it for you. That might work.

ronib Mon 14-Nov-22 09:09:39

growstuff

ronib What would your revised parameters for the NHS be?

I would ask The King’s Fund to research but in general, core services for maintenance of good health .

ronib Mon 14-Nov-22 09:12:12

volver

Foreign aid isn't like putting 50p in the collection box when you feel like it. Foreign aid is commitments and contracts.

I suppose you could try saying that you've not going to pay your car tax this year but the well off bloke down the road should do it for you. That might work.

What is our budgetary deficit 3trillion? Yes why not get the richer countries to contribute more? Commitments and contracts to China and India?

Lathyrus Mon 14-Nov-22 09:13:43

MaizieD

^Tax should be paid by everyone including those who claim benefits.^

What, exactly, would be the point of taxing benefits, swampy1961?

I’ve never understood the rationale of giving benefits and then taxing, though I suppose I can see the stake in the community argument.

Wouldn’t it be better to raise the threshold at which people pay tax so that they didn’t need to claim benefits?

I took a look at the Tax credits system yesterday. It’s so complicated. The costs of administering it must be phenomenal.

Farzanah Mon 14-Nov-22 09:13:56

Thinking that we should reduce foreign aid shows a fundamental misunderstanding of why we pay foreign aid. There is an argument that more wealthy countries, such as ours, should pay more in foreign aid to reduce the need for refugees to flee their own country seeking a better/safer life here.

nadateturbe Mon 14-Nov-22 09:14:45

varian

Proper windfall tax on the energy producers, tax the international companies like Amazon on the basis of the revenues raised in the UK, cancel the tax loophole of "non dom status", increase the top rate of income tax to 50%, raise tax thresholds for low and middle income earners.

Pursue furlough fraud and crooked covid contracts, Invest in insulating homes, building more social housing, training more doctors and nurses, repairing school buildings and making the most of renewable energy resources.

This

ronib Mon 14-Nov-22 09:15:22

growstuff

Also:

What do you mean by "Public service to serve the public"?

Just that

volver Mon 14-Nov-22 09:16:26

ronib

volver

Foreign aid isn't like putting 50p in the collection box when you feel like it. Foreign aid is commitments and contracts.

I suppose you could try saying that you've not going to pay your car tax this year but the well off bloke down the road should do it for you. That might work.

What is our budgetary deficit 3trillion? Yes why not get the richer countries to contribute more? Commitments and contracts to China and India?

Aye, I'm sure you're right. hmm

Some days it's not worth arguing. This is one of those days.

growstuff Mon 14-Nov-22 09:17:48

ronib

growstuff

Also:

What do you mean by "Public service to serve the public"?

Just that

Sorry, but I seriously don't know what you mean. Who else does public service serve, if not the public?

ronib Mon 14-Nov-22 09:17:55

Farzanah

Thinking that we should reduce foreign aid shows a fundamental misunderstanding of why we pay foreign aid. There is an argument that more wealthy countries, such as ours, should pay more in foreign aid to reduce the need for refugees to flee their own country seeking a better/safer life here.

We are not wealthy

volver Mon 14-Nov-22 09:19:54

Of course we are. 🤦🏼‍♀️

You shouldn't believe everything that nice Mr Hunt tells you.

growstuff Mon 14-Nov-22 09:21:29

ronib

volver

Foreign aid isn't like putting 50p in the collection box when you feel like it. Foreign aid is commitments and contracts.

I suppose you could try saying that you've not going to pay your car tax this year but the well off bloke down the road should do it for you. That might work.

What is our budgetary deficit 3trillion? Yes why not get the richer countries to contribute more? Commitments and contracts to China and India?

No, the OBR estimates that the deficit for 2022/23 will be about £100 billion, which is about 10% of the total money spent by the government.

obr.uk/forecasts-in-depth/brief-guides-and-explainers/public-finances/

I think you might be confusing deficit and debt.

growstuff Mon 14-Nov-22 09:22:44

Did you know that banknotes, coins and premium bonds are included in the figure for the national debt?

growstuff Mon 14-Nov-22 09:23:30

The money I hold in my HelptoSave account is included too.

JaneJudge Mon 14-Nov-22 09:24:24

No, I had no idea blush I think I must have missed all the basic economics classes at school unless they just didn't teach it