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Governments First Budget

(565 Posts)
Whitewavemark2 Wed 30-Oct-24 07:55:04

We won’t know too much until we can read tomorrows analysis , but we do know of this government’s intended direction of travel, and whether it meets with our expectations as voters and what we all voted for, which of course changes with each individual.

My vote and expectation was for

First and foremost to save our NHS and crumbling public services.

Second was to address the state of our environment, the polluted seas and rivers, and the lack of diversity.

Next -to address the fact that economic growth has been more or less stagnant since 2010. We need a Keynesian type budget for growth, that is imaginative and forward thinking to produce the revenue to invest in out country.

Personally I have never thought it possible to have this type of successful economy where citizens can be confident of a cradle to grave welfare state, where education is first class, health is free at the point of use and available within a very reasonable time limit, where public services are well run and invested in and care for all in need comes as a right, can be obtained by the tax payer on the cheap. This type of economy must be paid for and we will need to see tax at Scandinavian levels in order to achieve this.

Looking at the state the country is in, we knew in July that this would be a mighty task. Mighty tasks need research/planning and massive effort. They always start painfully slowly but momentum will gather as each year passes and we will gradually see the result of the effort put in to save our country from the ravages of 14 long years of economic blows our public services received.

Of course the right wing media - childlike - is insisting on jam today without spending any of their pocket money, but as wise parents we know that all jam does is rot your teeth. Instant gratification is only for the hard of thinking, the more intelligent know that time is the master.

So now looking back at the few short months Labour has been in government, i am pretty supportive of the direction of travel, and the achievements to date - which probably need listing to remind everyone - but not for this thread.

Some stuff has been announced but I think it best until we begin to see how it fits into the overall picture before we begin to comment.

It looks as if this is going to be a massive budget though - so hold onto your hats!

Oreo Thu 31-Oct-24 09:06:45

NotSpaghetti

I agree Doodledog - I think right to buy was a dreadful thing.
Why we all need to buy anyway I just don't understand. If you have rented a house you are happy in, what you really need is security of tenure, swift repairs and a rent that feels "fair".
This is what councils can (and should) offer in my opinion.

Friends living in the "nicest" areas all bought their council homes and have made money out of it- by selling or letting.
Only one is still living in their ex-council house.

I agree, selling off council houses should never have been done and should stop right now, tho apparently it isn’t going to.
Council houses should always be just that.

ronib Thu 31-Oct-24 09:14:12

Oreo surely a better scheme would be to allow council houses to be sold but for every house sold, a new house would be built? Thus facilitating less wealthy people onto the housing market both through ownership and becoming a secure tenant?
I think Mrs Thatcher wanted to stop
‘sink council estates’ back in the day. We need more mixed housing imo.

Oreo Thu 31-Oct-24 09:15:10

I don’t understand some of the budget, the millions and billions tend to daze me, also the superfast delivery of it.
Reading about it this morning some things seem good for the country and others maybe problematic such as raising NI for employers and such a hike in wages for young people done at the same time, will that mean job losses or reduced staff taken on?
Fuel duty frozen gets a cheer from me, but a penny less for a pint?! Can’t see that will do anything at all.
Massive borrowing so just hope at least big projects will get done.

David49 Thu 31-Oct-24 09:16:48

Whitewavemark2

Just as an aside, the IMF have endorsed Reeves budget and the “sustainable” tax rises.

Reeves is laying the foundation for the recovery of our public services.

The investment market is stable too, regardless of the Tory gloom and doom mongers the budget is seen as progressive and sustainable.

ronib Thu 31-Oct-24 09:23:37

I think the biggest whinge from doom mongers is that nothing has been done to improve productivity.

Allira Thu 31-Oct-24 09:28:16

Why we all need to buy anyway I just don't understand. If you have rented a house you are happy in, what you really need is security of tenure, swift repairs and a rent that feels "fair"

I think that older people may feel more secure in a property they own rather than the insecurities of renting. My MIL rented privately all her life but, being widowed at an early age, she spent her life being worried about being 'thrown out' especially when her sons had grown up and left. The rent became another worry after she retired too.

Whitewavemark2 Thu 31-Oct-24 09:30:15

David49

Whitewavemark2

Just as an aside, the IMF have endorsed Reeves budget and the “sustainable” tax rises.

Reeves is laying the foundation for the recovery of our public services.

The investment market is stable too, regardless of the Tory gloom and doom mongers the budget is seen as progressive and sustainable.

The point being that Reeves has (contrary to all the doom put out by the Tories) a clear and sustainable plan, which will put the U.K. back to economic stability - something that we haven’t had for a number of years now.

Businesses love stability, because it allows them to plan and invest with much more certainty. Which in turn should boost growth, but it won’t be easy as this ship has been wallowing in the doldrums for a number of years, made much worse by so many Tory economic and political decisions, - remember Brexit, austerity, Truss,? - all hammer blows to our economy and our ability to thrive.

Whitewavemark2 Thu 31-Oct-24 09:33:53

ronib

I think the biggest whinge from doom mongers is that nothing has been done to improve productivity.

Then tell them that they are wrong.

Productivity is improved as investment rises into new technology, and other areas in business.

Investment is one of the cornerstones of Reeves budget, which has laid foundation to encourage businesses to invest in every area.

Wyllow3 Thu 31-Oct-24 09:41:19

David49

Whitewavemark2

Just as an aside, the IMF have endorsed Reeves budget and the “sustainable” tax rises.

Reeves is laying the foundation for the recovery of our public services.

The investment market is stable too, regardless of the Tory gloom and doom mongers the budget is seen as progressive and sustainable.

Was waiting to see how these went, I suspected it would fall this way.

ronib Thu 31-Oct-24 09:43:24

Wwm2 let’s be patriotic and hope that this will pan out as planned but making business poorer is not the best way to encourage investment. There will be less jobs because of rises in national insurance contributions for employers.

GrannyGravy13 Thu 31-Oct-24 09:45:36

I haven’t seen one comment from any Farmers union/organisation of farmer/farming family which is positive.

Comments like this from Labour do not help

ronib Thu 31-Oct-24 09:48:17

Gg13. Ed Milliband wants fewer working farms to cut down on methane emissions. This planet has had cows living on it for many years.

GrannyGravy13 Thu 31-Oct-24 09:48:29

ronib

Wwm2 let’s be patriotic and hope that this will pan out as planned but making business poorer is not the best way to encourage investment. There will be less jobs because of rises in national insurance contributions for employers.

We invested in extra employees, plant and training heavily over the last 12 months.

Will we do it again knowing the budget details, not in the foreseeable future, further plans are now shelved.

Whitewavemark2 Thu 31-Oct-24 09:49:42

ronib

Wwm2 let’s be patriotic and hope that this will pan out as planned but making business poorer is not the best way to encourage investment. There will be less jobs because of rises in national insurance contributions for employers.

I shouldn’t worry about business.

Reeves has laid the foundation for growth and investment in the economy, and businesses will grab these opportunities for profit and expansion with both hands.

Long term they will benefit from her plans.

Casdon Thu 31-Oct-24 09:51:13

Agriculture is devolved, so this applies to England. Not that it’s all rosy elsewhere, but we are in control of our own policy and government spending. That is actually true of a lot of areas covered in the budget.

GrannyGravy13 Thu 31-Oct-24 09:51:30

ronib

*Gg13*. Ed Milliband wants fewer working farms to cut down on methane emissions. This planet has had cows living on it for many years.

I think EM should learn that the best way to carbon capture is for the countryside to be healthy, full of trees and crops.

Putting solar panels on agricultural land is short sighted at best foolish at worst.

The U.K. needs to improve its food production not put it in decline and to be more reliant on imports from around the world which add to pollution due to transportation.

ronib Thu 31-Oct-24 09:52:56

GG13 yes but how to tell EM so that he gets the message? He feels like a runaway train.

Allira Thu 31-Oct-24 09:53:50

GrannyGravy13

I haven’t seen one comment from any Farmers union/organisation of farmer/farming family which is positive.

Comments like this from Labour do not help

Good grief!! Stupid man. Just the person you need as Minister of State for Environment, Food and Rural Affairs.

Well, junior doctors went on strike, train drivers went on strike, the country coped with difficulty, no-one would notice if politicians went on strike but if farmers went on strike what would be the consequences?

Steve Reed probably thinks that food arrives like magic plastic wrapped on supermarket shelves.

Allira Thu 31-Oct-24 09:54:52

GrannyGravy13

ronib

Gg13. Ed Milliband wants fewer working farms to cut down on methane emissions. This planet has had cows living on it for many years.

I think EM should learn that the best way to carbon capture is for the countryside to be healthy, full of trees and crops.

Putting solar panels on agricultural land is short sighted at best foolish at worst.

The U.K. needs to improve its food production not put it in decline and to be more reliant on imports from around the world which add to pollution due to transportation.

Ed Milliband should concentrate on cutting the amount of plastic polluting our planet.

Whitewavemark2 Thu 31-Oct-24 09:55:28

I notice Corbyn’s mentor - Richard Murphy - is unhappy with the budget. That should give us heart😊.

ronib Thu 31-Oct-24 09:56:52

And just one more gripe - can someone stop EM from capturing carbon and burying it in pipes under the sea bed?
Life is feeling very dystopian just now.

Allira Thu 31-Oct-24 09:58:39

Britons urged to eat less meat and dairy products:

Wyllow3 Thu 31-Oct-24 10:21:53

Not exactly new news, here are calls from 2021
www.bbc.co.uk/news/science-environment-57580254

It's a very long standing debate, and there is a no policy in the pipeline despite rumours from some newspapers a few days ago along the lines of "Tories warn that.....".

TerriBull Thu 31-Oct-24 10:36:58

Is an endorsement by the IMF worth anything? given their predictions have been known on many an occasion to be wrong.

The Office for Budget Responsibility has pointed out the glaringly obvious fact that the hike in employers' NI will possibly affect salary rises. It is also likely to impact on the hiring of staff resulting in increased unemployment, a lower tax take for government coffers and by association unemployment benefits rising. I suppose all that remains to be seen as to how that will pan out over the course of the next five years. I don't think anyone wants to see fewer opportunities in the job market, particularly for those starting out.

I just wish there could be more tax levied on banks' overwhelming profits, they're nobody's friend really, neither the individual or small businesses. The big behemoths Amazon meanwhile will still continue to pay a fraction of what they should pay but there is no multi lateral consensus to change any of that.

I'm in agreement with GG over the plight of farmers, could they be any more beleaguered, people we really need.

However, on a more positive note some good things, the freeze on fuel duty, rises would have been so inflationary and I really liked her tax hike on private jet flights, just how nauseating is it listening to some of those grandstanding gobshites individuals who fly in on them to Davos year on year to lecture the plebs on the error of their ways, and c'lebs who drone on about their green credentials, although such people are so rich it will probably hardly affect them at all.

I'm hoping this government's prospective house building will get going and make a real difference to affordable housing.

Also the commitment made to recompense those who have suffered so much from the infected blood scandal and the Post Office, so long overdue.

Wyllow3 Thu 31-Oct-24 10:42:13

So agree on the private jets!