Autumn statement

And I would like to agree with you all that Hunt can’t win.

That is because he is so useless - I see that the IFS bod has said Hunts figures on which he has based his statement appear made up.

Saatchi and Saatchi have declared that they can no longer support the Tories with more years of stagflation, corruption and incompetence.

Joining the clappers with Bella23, Granny Gravy, GSM, Caledar and Georgesgran

I’ve been out all day, and just come in and looked at the points of the autumn statement.

Just like Sunak’s conference speech it was a damp squib I thought.

Growth had been forecast to be half of what it was originally forecast to be, which was pretty pathetic to begin with. so even if there is a small boost to business as a result if the NI decrease etc and it is a big if, then growth might possibly struggle up to what was originally forecast.

Germanshepherdsmum

growstuff

Abolition of Class 2 NI payments for the self-employed is a trick!

For people with very small business (like I had), it might seem like a saving. However, it also means that they won't be eligible for those years to count towards the state pension. I'm not sure of the actual figures now, but a few years ago, each extra year was worth something just over £4 a week in pension, so well over £200 a year.

So, if you don't have the minimum number of years for a full state pension, it might be worth paying voluntary Class 4 contributions, which are more expensive (and I'm not entirely sure it's possible).

The government tried doing the same thing a few years ago when Sunak was Chancellor, but abandoned the idea when it caused a backlash from very small business owners

I think he said that this would not affect the entitlements that NI contributions give.

Will only affect entitlements of those on very small profits of £6275 and under. They can opt to carry on paying class2 at a rate of £3.75 a week.

growstuff

Abolition of Class 2 NI payments for the self-employed is a trick!

For people with very small business (like I had), it might seem like a saving. However, it also means that they won't be eligible for those years to count towards the state pension. I'm not sure of the actual figures now, but a few years ago, each extra year was worth something just over £4 a week in pension, so well over £200 a year.

So, if you don't have the minimum number of years for a full state pension, it might be worth paying voluntary Class 4 contributions, which are more expensive (and I'm not entirely sure it's possible).

The government tried doing the same thing a few years ago when Sunak was Chancellor, but abandoned the idea when it caused a backlash from very small business owners

I think he said that this would not affect the entitlements that NI contributions give.

Grany

Minimum wage higher than Labour are offering.

where do you get that info from?

Georgesgran

Calendar Granny and GSM Spot on comments 👏🏻

I'm joining the queue of clappers. I haven't got the emoji

The divide is growing, the difference between the basic state pension and the new state pension. 8% of a little is not a lot. Still, a little is better than nothing

Abolition of Class 2 NI payments for the self-employed is a trick!

For people with very small business (like I had), it might seem like a saving. However, it also means that they won't be eligible for those years to count towards the state pension. I'm not sure of the actual figures now, but a few years ago, each extra year was worth something just over £4 a week in pension, so well over £200 a year.

So, if you don't have the minimum number of years for a full state pension, it might be worth paying voluntary Class 4 contributions, which are more expensive (and I'm not entirely sure it's possible).

The government tried doing the same thing a few years ago when Sunak was Chancellor, but abandoned the idea when it caused a backlash from very small business owners

Calendargirl

The Chancellor can’t win, can he?

If he had announced a smaller increase, we would be moaning.

If we are getting enough to pay tax, well, that’s it really. You can’t have it all ways.

^^ There, right there.

Sorry, I explained that badly. Local authorities will have to pay for Housing Benefit increases, but it will hopefully mean there are fewer homeless, who end up costing more in the long run.

Local Housing Allowance levels restored to making 30% of available local properties affordable, which will help some renters. It will also help local authorities, who have been hard-pushed to foot the bill for Housing Benefit.

Minimum wage higher than Labour are offering.

Calendar Granny and GSM Spot on comments 👏🏻

I don’t pay tax because my main income is spousal maintenance payments from my ex-husband. I also get SP, which is the basic, I think, and a small private pension.

Well said Calendargirl.

Applause from me, too.

And for the hike in Universal Credit and/or benefits for those that need them. Government's doing something right (for the moment).

👏👏👏 from me too.

Calendargirl 👏👏👏

The Chancellor can’t win, can he?

If he had announced a smaller increase, we would be moaning.

If we are getting enough to pay tax, well, that’s it really. You can’t have it all ways.

Would you rather have 80% of the increase (if you pay basic rate tax) or none at all?

Should we really expect to be paid at the rate of the living wage when we’re no longer economically active? Pensioners with low incomes may be entitled to pension credit and other benefits.

I'm already paying more tax.

Which of course is only fair.

But we are being given with one hand, and the other is taking it back again.

Unfortunately, it will push some - who might be just about managing - into the tax bracket.

The just-about-managing pensioners who are not poor, but have to be very careful with their spending, are - as usual - going to be one of the hardest hit.