The Budget

I think Reeves was looking to increase the fiscal headroom from 4 billion to 20 billion. Probably on the advice of the Treasury? So this move sort of fits in with Starmer’s rhetoric at the outset of his reign. Along the lines of the economy will get worse before it gets better.
However as a happy non economist, I am left wondering if it’s good economics to reduce spending power by the raising taxes for working people. Does doing this tax grab mean that a 20 billion headroom is not enough/about right/or on target?
If we care?

As I said on the other one, she may just have disagreed with the OPRs figures.

FriedGreenTomatoes2

Well RR won’t step down of that I’m sure.
She’ll have to be pushed.

Basically she’s gaslighted us all into thinking our country was poorer than it actually was. I think she wanted her fiscal policies to deceive us into thinking she’d done An Amazing Job as Chancellor.

This isn't the thread for this, is it? I'm sure I posted on a "Chancellor accused of lying" type of headline.

Did I go off piste?

No I don’t think so DAR 🤷‍♀️
The thread is about the Budget.

FriedGreenTomatoes2

Our daughters are much better off financially than we were in our late 40’s.

The benefit of good university degrees helped - securing professional employment - both in the public sector (NHS speech & language the other a deputy head - both working full time).

I’m happy and relieved they are so fortunate.

Not everyone is.

I think you last line is the pertinent one FriedGreenTomatoes2 Governments have to have a broad view although a good governments do try to look after people in all circumstance.

(Was your other post on the wrong thread?)

All politicos are liars. Its in the nature of the job. Some are just bigger liars than others.

I hope the spring elections are a bloodbath for labour.

Well RR won’t step down of that I’m sure.
She’ll have to be pushed.

Basically she’s gaslighted us all into thinking our country was poorer than it actually was. I think she wanted her fiscal policies to deceive us into thinking she’d done An Amazing Job as Chancellor.

Just looked at Chat GPT for difficulties faced by 'boomers' in 70s/80s. It was very familiar and negative compared with how youngsters today view our lifetimes struggles. Suggest you check that DAR

Oh dear, I expected better.

My Facebook page this morning had several posts re the farmers' protest on 26th November which was given permission then banned just 24 previous, far too late to stop those who were already there, having made arrangements for their farms to be looked after in their absence.

It is believed that there was political interference in the police decision.
Farmers were arrested for protesting peacefully and had their tractors confiscated, now have to pay fines to have them returned.

I am bemused and saddened by what is happening now and it is certainly not what I expected when I placed my X in good faith.
I expected more truth and honesty from this Government.

I'm like you, GrannyGravy, somewhere in the political wilderness.

Back to the Lib Dems? Come on Ed!

FGT2 it’s not looking good for RR, deliberately deceiving the country with her broadcast on breakfast TV the other week.

So much for Labour’s pre election mantra no more lies, deception or corruption 🤷‍♀️

Our daughters are much better off financially than we were in our late 40’s.

The benefit of good university degrees helped - securing professional employment - both in the public sector (NHS speech & language the other a deputy head - both working full time).

I’m happy and relieved they are so fortunate.

Not everyone is.

Any Treasury civil servants found to have colluded with this chancellor to lie about the true state of the economy should be fired and lose their pension.

How dare Treasury officials attack the OBR head, Richard Hughes for "opening up a private space" for wider discussion... If this government wants to kill growth and scare off the rich and aspiring workers, at least have the guts to come out in public and say so.

The majority in this country agree with the "2-child cap". It's unfair that hard working people have to face the decision of not being able to afford more children when others act without any thought.

Goodness, you are painting a picture of a wonderful country for the young. I'm pleased for them. AI has kindly provided the figures for the wider, generational argument.

UK Generations Worse Off Than Baby Boomers
1. Generation X (born ~1965–1980)
Gen X in the UK isthe first generation to have lower lifetime earnings expectations than Boomers.
Key issues:
• Missed the “golden era” of wage growth that Boomers enjoyed.
• Hit hard by the early 1990s recession.
• Entered housing markets just as prices accelerated sharply.
• Less access to defined-benefit pensions compared to Boomers.
Status:Worse off than Boomers, especially regarding housing and retirement security.
2. Millennials (born ~1981–1996)
Millennials in the UK are widely consideredthe most financially disadvantaged generation in decades.
Key issues:
• Lowest homeownership ratesof any generation in modern UK history at their age.
• Housing affordability crisis (UK house-price-to-income ratios are among the worst in the OECD).
• Stagnant real wages (UK median pay has barely grown since 2008).
• High student debt introduced with the 1998 and 2012 tuition reforms.
IFS called Millennials“on course to be the first generation to earn less than their parents over their lifetimes.”
Status:Significantly worse off than Boomers.
3. Generation Z (born ~1997–2012)
Still early in their working lives, but early data suggests they face:
• Even higher rents and house-price ratios.
• Competition in a more precarious labour market.
• Slower early-career wage progression than older cohorts experienced.
If conditions don’t change, Gen Z is expected tocontinue the downward trend.
Status:Too early for certainty, but indicators suggest they are likely to be worse off than Boomers.
Why Baby Boomers Are Better Off in the UK
Boomers benefited from:
• Cheaper housing (house prices ~4× income in the 1980s vs 8–10× today in many regions).
• Strong wage growth during the 1960s–1990s.
• Generous defined-benefit workplace pensions.
• Free or low-cost university education.
• Lower job insecurity and higher social mobility.

Oreo our AC work hard and play hard also. Change their cars, phones, decor etc more frequently than we ever have done.

Far more foreign holidays per year than us, with and without their children. (Which is why we have GC’s bedrooms and playroom in our home, they are often occupied 😹)

https://www.gransnet.com/uploads/talk/202511/medium-wmvfh-img-1578.png https://www.gransnet.com/uploads/talk/202511/medium-e0n2eb-img-1579.png https://www.gransnet.com/uploads/talk/202511/medium-f09ksc-img-1580.png

From Robert Peston’s X account.

I hadn’t seen that you had asked me a question DAR but am happy to answer it.
The question being did I feel we had less than our parents did?
Yes, we did have less than our parents did as a young married couple and for a long time afterwards.We had two little girls twins, and I had to give up work as there was nobody to help out.Living in London on one( not all that great )salary.
My parents inherited their terraced house from relatives so no rent or mortgage to pay and both worked full time.
All our stories and our parents stories will be very different, but that’s mine.
Our DD’s have a better standard of living than I did, possessions, holidays and meals out and so on.

GrannyGravy13

DaisyAnneReturns as you are obviously not interested in any opinion/point of view which differs from yours.

I am out.

A pity as your posts are always so polite and reasonable, GrannyGravy13.

“Not all children have had less than their parents, equally not all children have had, will have had more than their parents.”

Certainly not, I’ve done pretty much the same as Dad, worked hard, took good risks, he taught me well. My children - all girls took the comfortable option, married well, raised families, backed up their husbands. My brother had 4 sons, more interested in beer than enterprise, only one married and that didn’t last.

Looking around the (large) extended family I have one nephew and one grandson who have the spirit and leadership to improve over their parents.

Message deleted by Gransnet. Here's a link to our Talk guidelines.

GrannyGravy13

DaisyAnneReturns as you are obviously not interested in any opinion/point of view which differs from yours.

I am out.

I really don't understand your need to be so confrontational GrannyGravy13 but I agree, our discussion has probably gone as far as it can.

DaisyAnneReturns as you are obviously not interested in any opinion/point of view which differs from yours.

I am out.

DaisyAnneReturns

Mollygo, before responding further, it might help to take a moment to look over my previous posts, as they include some important factual context that you seem to have missed.

Not necessary DAR.
Overall , my factual generalisations are as valid as anyone else’s.

Whuh-who!
My dear!

Mollygo, before responding further, it might help to take a moment to look over my previous posts, as they include some important factual context that you seem to have missed.