I wonder what is in red box ready for later? I am not holding out much hope for us oldies, I am in that black hole of not quite pension age but not working as I am a carer for my husband. Hoping for some help with the energy costs ( although I wish they would tackle the source rather than the problem) And more help with child care costs for my DD and Sil.
In the leaks the additional Childcare sounds incredibly complex. They also seem to have missed the fact that many Grandparents retire or cut their hours in order to allow offer childcare, allowing ACs to be able to work.
They really aren't looking at "pensions" although I understand this is what the pundits are saying. It appears they are looking at the cutting the tax on the pensions of the very well paid.
Equitini's research has showed that 17% of pensioner households now survive on state benefits alone, the highest level recorded since 1995-96. Benefits accounted for 40% of income for pensioners and were the main component of retirement income.
I would be much more impressed if they said they were going to bring in a Universal Pension that can be lived on.
From a purely personal point of view, good budget for my family members. Which makes a change. As cant remember the last time I have said that. Probably 10 years ago or thereabouts. Assuming I am understanding the budget correctly.
Do you remember the days when people used to fill up with petrol, buy extra wine and beer and also cigarettes in anticipation of fuel/alcohol/tobacco duty levels going up? When I was a student, my MP David Steel got me a seat in the Gallery for the Budget speech. Coming from my wee town, I found it actually very exciting to see various “famous names” in the flesh in the HoC !
Listening to the proposals for older workers to return, I don’t think it’s going to attract many back, my impression is that if they want/need to work they already are. The proposals for parents will help a lot, albeit next year.
Raising the pension pot maximum will hopefully have an effect on senior medical staff, who have been leaving in droves because it’s just not financially worth their while to continue working when they hit the financial ceiling.
I also agree with not allowing energy companies to charge a premium for prepayment meters, it was scandalous that they were charging the people who have the least money higher rates.
I did hear that people with disabilities will no longer require regular assessments, which in the past could be a very prolonged and extremely stressful for those concerned. I’m sure others here have experienced this.
I’m in Scotland so my rate might change, but the Personal Allowance has been frozen until 2028. Imo, it should be raised to £20,000, this would give the lowest paid a bit more money that might actually be spent on goods/services thus helping more small businesses to survive. I hope the Labour Party would consider this if they do take power after the next GE.
The paid childcare is a good thing, but I really don’t think that a million more women will be attracted to return to work as a result of the free 30 hours childcare for one and two year olds. Just under 700,000 babies are born each year, and the lowest rate according to ONS for mothers who work is just over 50% which is for 16-24 year olds. I can’t work out where all these women who are going to return to work are, because from the figures I think most of them are working anyway.