What do you hope for in the budget?

FriedGreenTomatoes2

A very informative post thank you MaizieD.

... agree.

maddyfour

That they leave inheritance tax alone. We’re not eligible at the moment but I don’t want to be dragged into it.

You won't be. You'll be dead.

ILovecheese
Not sure I have ever read a post I have disagreed with more.
Particularly about what sounded like enforced

You have totally misinterpreted my comments, what I meant was that pregnancies do have to happen, nothing about abortion. In my area there are many mothers with 3/4/5 children by different fathers who pay nothing toward the child care and that those children are now having to be effectively brought up on on the state - this is unfair to other families who work hard to pay their own way.

mabon1

People I know are living on benefits, they can afford things I am unable to buy as I am a pensioner, a wrong.

It’s very wrong mabon, but I doubt there’ll be any changes with this government. They’ve shown their cards already and they’re not good for pensioners.

That they leave inheritance tax alone. We’re not eligible at the moment but I don’t want to be dragged into it.

People I know are living on benefits, they can afford things I am unable to buy as I am a pensioner, a wrong.

JANH

I would like to see our own people given social housing before immigrants.
We need a policy to stop so many small boats crossing over the Channel, more policing isn’t the answer - a deterrent like Rwanda was.
I wish people would learn to save and not waste money on nails/hair/make-up especially when they are asking for advice on how to manage money
If people cannot afford children, they are ways and means of stopping a pregnancy, the state should not have to pay for them. There should be no need for Breakfast clubs - how much does a piece of toast and a boiled egg cost per day - just an example.
Why did the Labour government pay most of the requested pay claims, taking us more into debt.

Not sure I have ever read a post I have disagreed with more.
Particularly about what sounded like enforced abortion.

I see that Martin Lewis has said that the treasury has ruled out abolishing the council tax discount for single occupiers, that is one less thing for people to worry about.

I would like to see our own people given social housing before immigrants.
We need a policy to stop so many small boats crossing over the Channel, more policing isn’t the answer - a deterrent like Rwanda was.
I wish people would learn to save and not waste money on nails/hair/make-up especially when they are asking for advice on how to manage money
If people cannot afford children, they are ways and means of stopping a pregnancy, the state should not have to pay for them. There should be no need for Breakfast clubs - how much does a piece of toast and a boiled egg cost per day - just an example.
Why did the Labour government pay most of the requested pay claims, taking us more into debt.

M0nica

National debt is real and when the bank prints more money, also known as 'quantative easing' it fuels inflation.

We have all heard stories of the german inflation of the 1920s,that led to Hitler winning control of the country and all that ensued. Although the trigger causes were complex, it was when the previous German government tried to print themselves out of trouble by producing more and more bank notes, that the flak really hit the fan. In the morning a loaf of bread would cost 100 marks, by evening it was 250 marks.

There is also a lot of nonsense talked about 'household' budgets. The days of Mr Micawber and Annual income 20 pounds, annual expenditure 19 [pounds] 19 [shillings] and six [pence], result happiness. Annual income 20 pounds, annual expenditure 20 pounds ought and six, result misery.

In fact nowadays household financial management is quite complex. Housebuyers have mortgages, others will borrow to fund education - student loans and similar. At the same time we are saving for pensions. Older people take out money on Equity release, money and debt racking up until they die.

These days it is not just the government that doesn't run on aa household type budget, neither do most households!

It is now thought that the German government deliberately crashed the economy in the 1920s. Don't forget that some people (those with mortgages, other debts, asset holders and farmers, for example) gained hugely from inflation. France had occupied the Ruhr and the German government encouraged passive resistance. Workers were essentially striking (and not producing anything) but the government continued to pay them. As Maizie pointed out, it was the shortages which caused the inflation. Meanwhile, the French insisted on payments linked to the gold standard and Germany pleaded poverty and the reparation payments were rescheduled, which was exactly what Germany wanted, so that it could use hard currency to start re-armament. The situation was nothing like the situation in the UK today.

Peanuts. If we're lucky.

That even those on benefits pay tax too.

If they receive more than the single persons tax allowance/married allowance then they should pay tax. I realise it is just money going round in circles but it is ridiculous that some on benefits get more money than bonafide workers and don't pay tax!

The number of people living alone is increasing according to the ONC

file:///C:/Users/norma/Downloads/Families%20and%20households%20in%20the%20UK%202023.pdf

and I would like to see a much fairer deal for them. Single people have a much lower carbon footprint than "families" in terms of the goods they consume and the waste they produce. They also spend a higher proportion of their income on basics such as rent/mortgage, fuel and services.

Council tax should be a 50% discount - not 25%. Many singles are outrageously subsidising the family next door in a similar dwelling.

For me the trouble is although I understand the different economic approaches broadly speaking, I don't know which is "right". Aren't there compromises which allow a little more borrowing?
I'm hoping the National Wealth Fund will work to kick start growth.

GrannyGravy13

The nurses have rejected their pay deal (5.5%)

I guess they will be offered more, if not I envisage a winter of strikes…

Yup.

The nurses have rejected their pay deal (5.5%)

I guess they will be offered more, if not I envisage a winter of strikes…

MaizieD

FriedGreenTomatoes2

So, why is Rachel Reeves giving us Austerity2?

Because she's hidebound by the economics she learned before she was 30 😁

There is nothing wrong with borrowing per se, investing in future growth or infrastructure is acceptable. What is not acceptable is borrowing for social or political handouts, that is exactly what successive governments have been doing.

In the UK we dont have the right to unlimited healthcare, pensions and other benefits paid for by others, they do not owe us a living. If anything we owe them aid because we have exploited others for centuries.

Keynes and the other theorists assume that the governments are responsible and don’t deliberately borrow for political gain

in two words...'A Miracle' ....

Interesting news - discussing the WFA is off today’s agenda. What a surprise

keepingquiet

I have a long 'wish-list' for the country but mainly for me it is about:

Housing, particularly social housing
Education, particularly recruiting and retaining more teachers'
Health, including investment in primary care and prevention
Social care, increasing wages as in the LIb Dem policy

Exactly my thoughts. More sensibility and compassion wouldn’t go amiss either . .

FriedGreenTomatoes2

So, why is Rachel Reeves giving us Austerity2?

Because she's hidebound by the economics she learned before she was 30 😁

Having just returned from another short break to Northumberland I would like to see a budget of investment in jobs and equality of opportunity. So many unloved towns in our country. We need investment in energy, factories, in skills and in public transport. The economy needs to grow slowly by investing in people and allowing them to earn enough to be able to live a decent life. Many pensioners ( not all) have more than enough to live on so do not require more. I would l8ke to see either the tax rate lowered to 10% or personal allowance to £15k
Those who earn, receive less , spend more !

ronib

Mollygo is SE something to do with cholesterol?

I think it is side effect(s).

I should like to see an increase in taxation at the same time as an increase in the level at which taxation comes into effect. I would be happy to pay more in taxes to help fund things like the NHS, carers, the disabled etc etc. An across the board increase is fine by me as opposed to picking and choosing the groups to be penalised as in the WFA affecting less well off pensioners or the increases to inheritance tax affecting people who have saved and been careful all their lives and now want to pass their hard earned savings to their children.

Maggiemaybe

^Would it be better if police officers, teachers and doctors were spending their time doing admin? There has to be admin, who sorts out payroll, who answers the phones, who orders the stationery, who negotiates the electricity/gas deal for the year? I'd much rather someone good at admin was doing it and the reality is they will be doing it cheaper than using the police officer/teacher/doctor.^

Well said, theworriedwell. The thing about admin is that if it’s done well it just rattles on in the background, and the people doing it aren’t appreciated by the public in general, sometimes not even by the people they’re supporting. The fact is that the frontline staff couldn’t do their jobs without the admin team.

I have a client, a former police inspector, now retired. He now works for the police in a desk job. (Lower salary). Maybe more retirees should do that - very useful with all the trawling through paperwork that they sometimes have to do for a case.