The Budget

they have kept the triple lock but put up taxes generally, so petrol, taxes on petrol, vat etc will increase, vat will increase cos the cost of things will increase
But Hunt says -non-dom status is good for the economy & it stays, good for tory donors he means, non-doms sunak's wife is a non-dom and she did not need to pay tax on £54m in Indian business which would have been around £20million. she did have to pay £30,000 to register as a non-dom though. Other non-doms are the owner of the daily mail lord rothermere, footballers and doubtless many others, Now I can see why our economy under tories favours wealthy people

Someone more intelligent than me please explain why we don’t just stop HS2 or put it on hold until we can afford it? Surely that would help knock the debt down?

The oft-repeated term 'triple lock on pensions' makes it sound very generous and unfair. No. its not. If that is what you are living on.
lock 1 :two and a half per cent would have been far too low
lock 2? : keeping up with wages? what with strikes and wage freezes and claims for 17%? what is that figure?
lock 3: is keeping up with inflation, like the other benefits. Not over-generous.
(But as half of the population work in the public sector they get generous pensions as well, and many others contribute to private pensions as well so protection of pensions seems unfair as they also get the state pension...but they do pay tax.) People who are low paid who reach pensionable age can claim pension credits which is the same (low) rate as the state pension received by those who contributed all their working lives. This has been in force since 2016.
I think our state pension is the lowest in Europe it's shameful for those that contributed all their lives.

I just despair, I earn just over minimum wage and with inflation at 10% am barely getting by. There's no help for me just higher fuel and living costs that I can see no end to. I'm just changing jobs having left working in social care after burning out. Have 7 years left to work, unless they move the goal posts again and am getting worried that I shall be struggling financially for the rest of my life.

The Boris Bashing continues.
How short are your memories?

WE HAD A TWO YEAR PANDEMIC PEOPLE. The entire working population was helped through it financially, by - guess who? And his charismatic approach to everything was upbeat. So then his naughtiness became the over riding issue and he was dumped. Of you go Boris, we cannot cope with naughty politicians no matter what! How hypocritical of the baying hounds, all of whom, of course, are squeaky clean.

So, very sadly and unfortunately, but obviously, we have to pay for the generous actions of the previous Govt. but one.

People where are your thinking brains? Is bl..di.g obvious all that money shelled out has to be replaced. Get a grip, for Heavens sake.

Well to me it's obvious, but then I am a simple soul.

We agreed a rise in our electricity bills with E.on Next, from £180 to £200 per month. Then it was announced pensioners were to be given £66 off their monthly bills up to £300. E.on have not reduced our monthly bill. I have tried to reply to their latest email but it isn't possible to reply on line now. Is anyone else in this situation, and, if so, what have you done about it.

LuckyFour I’m with British Gas. They recently wanted to doublemy fixed direct debit. My reckoning of our household energy usage showed it would be nowhere near that amount. I contacted them but they were insistent it should double. So I said cancel the fixed DD and I’ve gone onto a flexible one. This means I pay each month for what I’ve actually used that month, not their ridiculously high estimate of what they think I might use. The monthly £66 from the government goes into my energy account and is taken off the balance I owe each month. Needless to say, my monthly bill is nowhere near what they wanted to increase my fixed DD to. They’re bloomin’ scammers as far as I’m concerned - using fixed DD payers as cash cows. Perhaps you could try something similar with your provider.

“silvercollie

The Boris Bashing continues.
How short are your memories?

WE HAD A TWO YEAR PANDEMIC PEOPLE”
Well said, silvercollie! 👏👏👏It’s interesting how people forget about all the furlough payments made during the pandemic. Boris performed very well during that difficult time - but I lost trust in him afterwards. 😕
Then Putin made a bad situation worse…
By the way - anyone who’s feeling down at the moment (SAD symptoms, etc.) - just thank God you don’t live in Ukraine (or Russia, for that matter). At least we’ve got power, even if we have to cut back.

As the cst of living payment of £300 is to be paid in April,yes separate from winter fuel money in November .
In answer to the remoaners,it is not brexit to blame for all ills as the rest of Europe is in a worse state than us .

25 Avalon Have to agree. Does no-one remember the shortages due to Covid. Worldwide supply difficulties raising costs. Also the cost of the support for workers and businesses, never mind the NHS and vaccine roll out. War in Ukraine affecting crops, energy and supply difficulties. All of these issues fell upon the UK, and have to be paid which will take years and years. Just as when local authorities built houses, they didn't
borrow money on a 25 year mortgage, it was 120 years. Anyone on the minimum wage already is eligible for tax. Can't speak as to entitlement to benefits as no doubt circumstances have to be considered. To me the issue exacerbating cost of living is the energy costs; oil, gas and electricity. No one is exempt one way or another.

silvercollie and TiggyW

Luckily the memories of some of us are not short - we remember the financial waste and mismanagement including with the furlough scheme. Not everyone benefitted from this. There is at least one regular contributer on GN who did not qualify for the SEISS grants. She is one of a few million people who was self employed but did not receive a grant..

Below are comments from the Chair of the Public Accounts Committee in the unacceptable loss of billions during covid. This would include the £22 billion wasted on Dido Harding's
"world beating" Track and Trace Scheme which didn't work.

Below the comments there is a link to the actual report.

Please read this - your eyes might lose some of their scales!

Chair's comments

Dame Meg Hillier MP, Chair of the Public Accounts Committee, said:

“As the PAC has made clear across a series of reports on the costs of Covid, lack of preparedness and planning, combined with weaknesses in existing systems across Government, have led to an unacceptable level of mistakes, waste, loss and openings for fraudsters which will all end up robbing current and future taxpayers of billions of pounds.

It is essential that for as long as we will be paying the costs of Covid19, which is at least the next 20 years just in some of the loan repayment terms, the Treasury and all of Government continue to account specifically for what it has spent in response to the pandemic. Government must be held accountable in this way to all the future taxpayers who will be paying for this response. Crucially this must ensure lessons are learned for when the next big crisis hits - be it climate, health or financial.”

Chair's comments

Dame Meg Hillier MP, Chair of the Public Accounts Committee, said:

“As the PAC has made clear across a series of reports on the costs of Covid, lack of preparedness and planning, combined with weaknesses in existing systems across Government, have led to an unacceptable level of mistakes, waste, loss and openings for fraudsters which will all end up robbing current and future taxpayers of billions of pounds.

It is essential that for as long as we will be paying the costs of Covid19, which is at least the next 20 years just in some of the loan repayment terms, the Treasury and all of Government continue to account specifically for what it has spent in response to the pandemic. Government must be held accountable in this way to all the future taxpayers who will be paying for this response. Crucially this must ensure lessons are learned for when the next big crisis hits - be it climate, health or financial.”

committees.parliament.uk/committee/127/public-accounts-committee/news/161243/government-has-risked-lost-unacceptable-billions-of-taxpayers-money-in-its-covid-response-and-must-account-to-the-generations-that-will-pay-for-it/

Having done some rough calculations following the Autumn Statement and my company pensions will also increase in April 2023 I think I’m going to be paying more tax than at present.

Zoe65

As the cst of living payment of £300 is to be paid in April,yes separate from winter fuel money in November .
In answer to the remoaners,it is not brexit to blame for all ills as the rest of Europe is in a worse state than us .

Where did you read that? The EU countries are not in a worse state than the UK. There is no shortage of eggs or turkeys for Christmas if I want to buy them (in France) My electricity is a lot cheaper than yours. Our health system is not buckling under the weight of cuts and staff shortages.

Cambia

Someone more intelligent than me please explain why we don’t just stop HS2 or put it on hold until we can afford it? Surely that would help knock the debt down?

We can afford it. We can afford anything we want to afford, *so long as there are resources available for purchase.

The nation's economy is not like a household economy. Households have a finite amount of money available to them, the government doesn't; it can 'create' whatever it needs.

Like all government investment in infrastructure, whether you think it's necessary or not, the money put into HS2 will be paying people's wages and private enterprises supplying the materials needed for the work. And the private contractors who are carrying out the work. This money will then circulate in the economy, sustaining businesses and jobs , when the people in receipt of it spend it. Most of it will return to the government by way of taxation.

State investment doesn't disappear down a big black hole. It contributes to growth in the economy.

The Boris Bashing continues.
How short are your memories?

You know, I've read most of the posts on this thread, might have missed one or two, and I don't recall anyone mentioning bl**dy Boris at all.

Just as when local authorities built houses, they didn't borrow money on a 25 year mortgage, it was 120 years.

Local authorities can't create their own money. The government can, and has, and it doesn't need to be repaid to anyone (despite what the Chair of the Public Accounts Committee says)

MaizieD

^Just as when local authorities built houses, they didn't borrow money on a 25 year mortgage, it was 120 years.^

Local authorities can't create their own money. The government can, and has, and it doesn't need to be repaid to anyone (despite what the Chair of the Public Accounts Committee says)

I guess that there is cross party collusion in perpetuating that we the electorate have to pay for Government expenditure.

What do those who are pleased with this budget think about the shunting of social care reform into the long grass? This was a Tory manifesto commitment in 2019. Boris Johnson said he had an oven-ready plan to fix social care ‘once and for all’.
Failure to do so makes a mockery of any claims to compassioniate conservatism. I suppose it was foolish to think he ever meant a word if it.

GrannyGravy13

MaizieD

Just as when local authorities built houses, they didn't borrow money on a 25 year mortgage, it was 120 years.

Local authorities can't create their own money. The government can, and has, and it doesn't need to be repaid to anyone (despite what the Chair of the Public Accounts Committee says)

I guess that there is cross party collusion in perpetuating that we the electorate have to pay for Government expenditure.

I think there is, GG13, but then, most people just accept the narrative and MPs are no exception.

I don't actually understand why governments do this to us. After all, it's not as though the money comes out of their pockets and the government doesn't have to save for a rainy day. It doesn't have to make a profit in the same way that a business does.

It just needs a healthy and prosperous population to work and spend the money that keeps all the economic balls in the air..

MaizieD

^The Boris Bashing continues.^
How short are your memories?

You know, I've read most of the posts on this thread, might have missed one or two, and I don't recall anyone mentioning bl**dy Boris at all.

It must be one of those IMHAO people. Very foolish.

This is interesting. Summed up by the last sentence. This week the economics of that became simpler and starker – but the politics just got trickier.

www.execreview.com/2022/11/economic-gloom-should-spell-tory-disaster-but-hunt-has-made-it-tricky-for-starmer/

I think Starmer is too clever not to come up with something, but I do wish he would start giving a clearer path, sense of way forward, etc.

MaizieD

^Just as when local authorities built houses, they didn't borrow money on a 25 year mortgage, it was 120 years.^

Local authorities can't create their own money. The government can, and has, and it doesn't need to be repaid to anyone (despite what the Chair of the Public Accounts Committee says)

I think that the emphasis is on accountability rather than repaying it. As you know, if the govt borrowed (by way of gilts, POSB etc) these whilst earning interest for the investors, will be paid back at some time in the future.

The govt must account for the errors but there will still be people who will blame covid, the war in Ukraine etc rather than the powers that be.

Some like Beth Rigsby on Sky News think there isn’t much difference between the conservative budget and a Labour one so maybe that’s why Keir is finding it difficult.

Govts, especially this particular one just want to see lower taxation for their mates.

Yesterday, when Hunt was being interviewed, he proudly said that nom doms spent money in the UK and that they were charged £75k for the privilege of living there.

So they shop in Bond Street on expensive clothes - mostly Italian and French, they buy expensive art works from Sotheby's and Christies and of course they buy very expensive houses in Mayfair and Knightsbridge.

They will be sufficiently well advised to have an address outside the UK and the EU so they will not be paying any VAT. Possibly in Monaco - that's outside the EU.

How does the above help the UK economy?

Boz

I thought you would be interested in this story from The Times

La Serenissima by Jonathan Keates review — the decline and fall of Venice

www.thetimes.co.uk/article/b1fdc666-64f2-11ed-9c3b-2d9184d0076f?shareToken=a1fdb2da3d6bf48f66b93168b65164b5

Chilling comparison with the British Empire. We are in decline but will not acknowledge the fact.

Thank you for posting the link, I read the whole article and it was very interesting. And depressing.

MaizieD

Cambia

Someone more intelligent than me please explain why we don’t just stop HS2 or put it on hold until we can afford it? Surely that would help knock the debt down?

We can afford it. We can afford anything we want to afford, *so long as there are resources available for purchase.

The nation's economy is not like a household economy. Households have a finite amount of money available to them, the government doesn't; it can 'create' whatever it needs.

Like all government investment in infrastructure, whether you think it's necessary or not, the money put into HS2 will be paying people's wages and private enterprises supplying the materials needed for the work. And the private contractors who are carrying out the work. This money will then circulate in the economy, sustaining businesses and jobs , when the people in receipt of it spend it. Most of it will return to the government by way of taxation.

State investment doesn't disappear down a big black hole. It contributes to growth in the economy.

Thank you for explaining this MaizieD. I was another one thinking “just cancel the bluddy thing and save the money”. I was also sceptical as thinking it was just to keep rich donors to the Tories sweet with issuing of said contracts. I was forgetting about all the work (and revenue in taxation) that it provides. I feel better about the whole project now!