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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!

Babs03 Wed 30-Oct-24 13:22:49

There will be a full analysis given afterwards on the news, think it would be better to follow it that way. She is marching along at a fair clip.
🤔

Millie22 Wed 30-Oct-24 13:27:16

She's talking so fast... even Martin Lewis must be finding it hard to keep up!

petra Wed 30-Oct-24 13:29:32

fancythat

Lack of diversity?

What’s diversity got to do with the budget 🤷‍♀️

growstuff Wed 30-Oct-24 13:36:47

escaped and NotSpaghetti That was because your local authorities had decided to use some of their own funds. Provision of school transport for 16-18 year olds isn't statutory, so most local authorities decided not to fund it.

Mollygo Wed 30-Oct-24 13:40:28

escaped

I taught in a London Borough and I'm sure the 16 - 18 year old travelled free on buses. It was Zip Oyster I think?

Some of my sisters grandchildren benefit from an IGO card, which works in a similar way in Manchester.
Our DGC don’t have that benefit.

paddyann54 Wed 30-Oct-24 13:41:37

growstuff bus travel is free for all hildren and young adults up to age 22 here It saves parents money and time and keeps old bangers and boy racers off the roads .We do pay a bit more in tax but isn,t that what a progressive government is? My friend who is a nurse says she pays just £4 a month more tax than her equivalent nurse in England but she gets far more back in free uni free personal care for her mother and free travel for her school age son.
If Scotland is doing this on a FIXED BUDGET why with Englands ability to print money ( used in strange ways and given to friends) aren’t,t they helping the people at the bottom of the tree instead of spending it on stupid stuff

Whitewavemark2 Wed 30-Oct-24 13:42:09

Still, at least the cap hasn’t gone as it was intended to do this autumn.

winterwhite Wed 30-Oct-24 13:42:35

Re buses for a moment. Mrs Thatcher privatised bus services, let there be no misunderstanding there. Over the years local councils have been able to some extent to subsidise routes which the bus companies found uneconomic. But this has never been a statutory duty and councils are starved of cash so these subsidies are being withdrawn in a piecemeal way

growstuff Wed 30-Oct-24 13:44:15

paddyann As I'm sure you know, education spending is devolved in Scotland. I'm afraid I only know what the situation is in England. (Sorry!)

Whitewavemark2 Wed 30-Oct-24 13:51:57

Blimey!! Now I know why I voted Labour!!

Freya5 Wed 30-Oct-24 13:52:40

growstuff

Allira

Mollygo

Improving the life of my DGD will not immediately become apparent when her bus fare becomes £30pw. Easier if you live in an IGO area, but she doesn’t.

I was surprised that bus fares have to be paid for to attend FE College here; when I asked if DGD should get a pass, DS said no, they had enquired, even though the local schools have no sixth form.
Another expense for parents.

It's not just wherever you are. 16-18 year olds have to pay for transport everywhere.

Of course they have too. There is help with student bus and rail cards.

MayBee70 Wed 30-Oct-24 13:54:21

Whitewavemark2

Blimey!! Now I know why I voted Labour!!

grin!

growstuff Wed 30-Oct-24 13:56:17

In Essex, the standard charge for post 16 transport is £900 a year.

Some low income families receive a bursary.

www.essex.gov.uk/schools-and-learning/schools/school-transport/post-16-transport

Casdon Wed 30-Oct-24 13:56:33

Hooray on the personal tax thresholds!

Ladyleftfieldlover Wed 30-Oct-24 13:58:29

Whitewavemark2

Blimey!! Now I know why I voted Labour!!

Didn’t she do well!

Seriously though, I thought she presented a pretty good budget considering the mess she was left by the Tories. I wonder if anyone could lip read what J Hunt was saying - he looked livid.

Boz Wed 30-Oct-24 14:01:43

Thank God for no change on IHT. I was worried about having to live for 10 years, after gifting, rather than 7.

MaizieD Wed 30-Oct-24 14:03:19

Casdon

Hooray on the personal tax thresholds!

I've been following on the BBC Live section ( I cannot stand Reeves' voice & accent)

What they reported about tax thresholds didn't look particularly 'hooray' to me, basically no change until 2028, but perhaps the BBC got it wrong.

What do you think she said?

Doodledog Wed 30-Oct-24 14:03:26

Whitewavemark2

Still, at least the cap hasn’t gone as it was intended to do this autumn.

Exactly.

This is a classic example of spin. An allowance which was login to be cut has not been cut. Instead of celebrating that, those who want to do down anything the government have done are moaning because fares are capped at a maximum of £3. As I've said before, when I was working full time the cheapest fare I could get was £12 a day return, and that was over 7 years ago. There was no season ticket option. A cut to £6 return is a huge saving on that, and that is without factoring in what the fares would have cost had inflation taken its toll at the rate we've seen over the last 14 years.

David49 Wed 30-Oct-24 14:03:30

A forceful, commanding budget speech, 80mins, most tax increases as predicted and very large investment plans long overdue.

Not too much short term gain but small businesses protected from NIC payments, if growth does materialize as planned we should all be better off

eddiecat78 Wed 30-Oct-24 14:07:33

Boz

Thank God for no change on IHT. I was worried about having to live for 10 years, after gifting, rather than 7.

But now pension pots will not be free from inheritance tax but will be included in the value of your estate

fancythat Wed 30-Oct-24 14:08:16

I thought it was going ok, on the whole. Though I am sure there were some gaps to things. And much fine print detail will need looking into of course.

But am I right in thinking that the figures "dont add up"?
As in spending seemed to be roughly[and I mean very roughly] £50 billion, over what extras she is going to accumulate in extra taxing?

Whitewavemark2 Wed 30-Oct-24 14:08:28

MaizieD

Casdon

Hooray on the personal tax thresholds!

I've been following on the BBC Live section ( I cannot stand Reeves' voice & accent)

What they reported about tax thresholds didn't look particularly 'hooray' to me, basically no change until 2028, but perhaps the BBC got it wrong.

What do you think she said?

She has kept what was written in by the Tories until that date, after which she will raise it year on year.

Wyllow3 Wed 30-Oct-24 14:09:02

MayBee70

Whitewavemark2

Blimey!! Now I know why I voted Labour!!

grin!

👏👏

Wyllow3 Wed 30-Oct-24 14:12:12

So glad to hear news on the NHS at the end. No miracles, but some hope.
Sunak - high on rhetoric, low or absent on suggesting any alternatives of what they would have done.

fancythat Wed 30-Oct-24 14:12:51

Sorry, but anyone can clap for spend spend spend[if that is what it turns out to be].

If it turns out to be much more balanced, then it may be ok.