The Budget

FriedGreenTomatoes2

^What I did notice is that other parties criticising the Labour Party have not actually put forward a credible set of alternatives for the difficult economic situation we are in.^

Reform have ideas Wyllow so you’re wrong to suggest they just ‘carp’. I like their idea of raising the Personal Allowance from the £12,600 threshold (which as Liam Halligan hasxsaid introduces fiscal drag - we all pay tax, even on low incomes, far too soon) by raising it to £20,000. Their idea is that poorer people (me to some extent compared to others on here) will spend more into the economy on say new boots and a new television (ours is 17 years old) - whereas the more well off squirrel it away in savings accounts so could be taxed more.

Apologies if I’ve not explained that very well, I probably shouldn’t attempt posts on N&P this early in a morning!

Nigel Farage recently said that his tax proposals which included the £20,000 personal allowance were not financially viable and called them aspirations. Did you miss that?

“AI Overview
Nigel Farage has stated his tax proposals are "aspirations" because they are not currently realistic, given the state of the UK economy. He has backtracked on the £90bn tax cut pledge, explaining that substantial cuts are not feasible until public finances are more stable and a Reform government has implemented measures to improve the economy and control spending.”

I was quite amused to read about people's free’ shares in building societies which became banks. My Northern Rock shares went from very highly valued to absolutely worthless within a matter of days 😆

I'm not against looking at the burden on employers NI wise, but I do sometimes think that the problems they face, which are many and considerable, are blamed out of proportion on the NI debate. there are so many other factors.

Frankly in theory the £20.000 start is truly nice in an idealistic world, FGT, but not realistic as the cut in tax income would yet again hit poorer people worst.

To produce a realistic plan for going ahead - thats really only a little part of what a government needs to lay out for the future if it really is promoting a massive change in direction, we need far, far more detail.

I remain very, very concerned at Reform's pretence (not from all, but many) that climate change just isn't happening and we therefore do not need to spend money boosting renewables and recycling and all the other things that might make a difference - but cost money.

MaizieD Wed 26-Nov-25 21:27:55

Thank you for taking the time to explain shares (I’ve never owned any not enough disposable income over the years) and I understand the concept now thanks to your explanation.

FriedGreenTomatoes2

^What I did notice is that other parties criticising the Labour Party have not actually put forward a credible set of alternatives for the difficult economic situation we are in.^

Reform have ideas Wyllow so you’re wrong to suggest they just ‘carp’. I like their idea of raising the Personal Allowance from the £12,600 threshold (which as Liam Halligan hasxsaid introduces fiscal drag - we all pay tax, even on low incomes, far too soon) by raising it to £20,000. Their idea is that poorer people (me to some extent compared to others on here) will spend more into the economy on say new boots and a new television (ours is 17 years old) - whereas the more well off squirrel it away in savings accounts so could be taxed more.

Apologies if I’ve not explained that very well, I probably shouldn’t attempt posts on N&P this early in a morning!

Without a link to a detailed plan it’s difficult to critique Reform economic ideas, but, IIRC, they not only proposed raising the tax threshold (which I actually agree with) but they also proposed cutting taxes for the wealthy. Which is useless, it just gives them more money to squirrel away.

foxie48

I'm happy to see more money going to poorer families regardless of whether some might regard them as the "deserving poor" or not. Children need to be fed and clothed and sadly most families now need two wages coming on so every little bit helps.
If we don't downsize, we'll be paying more to the govt in 2028 but I won't begrudge that, the housing market has made us a lot of money over the years, despite the 15% mortgage rate we paid at one time and it's all been tax free!

Good to read your thoughtful post foxie48. If only people would look at the facts. Of the families with children in poverty 70% of them are in work, so I'm pleased to see the raise in minimum income as that will also help.

What I did notice is that other parties criticising the Labour Party have not actually put forward a credible set of alternatives for the difficult economic situation we are in.

Reform have ideas Wyllow so you’re wrong to suggest they just ‘carp’. I like their idea of raising the Personal Allowance from the £12,600 threshold (which as Liam Halligan hasxsaid introduces fiscal drag - we all pay tax, even on low incomes, far too soon) by raising it to £20,000. Their idea is that poorer people (me to some extent compared to others on here) will spend more into the economy on say new boots and a new television (ours is 17 years old) - whereas the more well off squirrel it away in savings accounts so could be taxed more.

Apologies if I’ve not explained that very well, I probably shouldn’t attempt posts on N&P this early in a morning!

I think some would rather see children from poorer families further stigmatised by measures that would single them out from their peers. I find this persistent idea that children live in poverty because their parents are feckless a sign that many older people don't appreciate the costs faced by young families especially the cost of housing, childcare and food. Children are essential to our society they should not be considered a luxury.

Given that many of the children who live in poverty are under school age, it’s a challenge to target resources getting directly to them. Keeping them warm and fed can only be achieved by giving more funds to do so directly to their parents. The vast majority of parents will no doubt use additional financial help to do that. Increased help and support for the most vulnerable children is also critical, and in the pipeline, though it will never be enough to pick up all of them.

A pro growth business budget if it exists? Wyllow3.
Why are employers being penalised for employees’ pension contributions?
Also make it easier for pensioners to continue part time work if they are able and willing. Abolish Advance Tax.

Genuinely, what would you like to see instead?

Boz

Lifting the two child Universal Credit cap will be popular with her backbenchers,

I wouldnt care if you could be certain the extra money actually went on the children and not to neglectful parents.

Child Poverty would be better served through free school meals - term/holiday - and free handouts of school uniforms, shoes and books.

I would agree with you there. The majority of families will use this increase to best advantage but the lives of children with feckless parents may not change. As you say there are better ways of ensuring that children in poverty actually benefit directly.

I'm impressed at the support for apprenticeships. That's a very good use of money and a good way for young people to get on in life for all our benefit. We need skilled workers. I just hope it's replicated in Scotland.

Allira

We still have our Abbey National, now Santander, free shares, Rosie51.
I should add up the dividends over the years.

I'm afraid our free Halifax shares had to be sold to pay for an expensive gas bill and car repairs Nice bit of free money though.

We still have our Abbey National, now Santander, free shares, Rosie51.
I should add up the dividends over the years.

Even S&S ISAs are risky ...

Yes, they were! Anyone remember Technology ISAs of the early 2000s?

Even S&S ISAs are risky...

Which is why over 65s will keep the £20,000 cash ISA option. Shares at any time should be seen as a long term investment, over 65s don't necessarily have that time span available. We have some shares. No, we aren't rich (I wish!) they were purchased under the staff savings scheme my husband's employer operated. Save a small fixed amount for 3 (?) years and then had a buy option at the price fixed at the start of the scheme. The shares rose brilliantly in value then plummeted, but the twice yearly dividends allow for a treat or two and they are still worth twice what we paid for them 30 odd years ago.

My Ds and DiL as per mentioned above will have to shell out and completely supportive of doing that for poorer people. I'm not that well off but happy to support those at the bottom of the pile.

Expectations sometimes astound me. The family featured on the BBC News were "thesis OK, that isnt sort of thing, but the daughter expected to have a car to get her to uni. How many of us expected that!
As a child our holidays were a week and later when mum went back to work a fortnight at the local seaside, no one thought we were badly off cos we couldnt fly to Spain..

I wish just someone would be thankful for the small good things, the most significant being the help for young people doing apprenticeships. That is massive! its one thing we really need.

The other is the tax on oversweet milky drinks. given obesity in the population, I think they should be banned.

What I did notice is that other parties criticising the Labour Party have not actually put forward a credible set of alternatives for the difficult economic situation we are in. Just carp, or make suggestions that will cut our access to the NHS and the education we do have.

Casdon

The choice of what to do with their money has always been with the saver though MaizieD, the only thing that has changed is that you can invest £8000 less of savings into a cash ISA. It’s not a big deal, because people who invest over the £12000 cash ISA limit can afford to make a different choice, whether it’s a S&S ISA or whatever else they want.

Unless they put it in government bonds, Casdon, everything else is risky.

And Reeves has been very insistent about trying to steer people into investing in shares. She thinks that investing in shares is investing in actual companies. It isn't. Even S&S ISAs are risky...

Mollygo

We didn’t manage to save either. Except I remember once saving my family allowance to replace our gas fridge with an electric one.

Nobody ever interviewed us or anyone we knew either!

We didn’t manage to save either. Except I remember once saving my family allowance to replace our gas fridge with an electric one.

My daughter and her husband both have well paid jobs and two children. Saving is just a daydream for them at the moment. I don't know how anyone on an average wage can save much these days.

We didn't save anything when our children were dependent either, despite both working.

If you have a low risk profile stocks and shares ISA though, it’s not very risky at all. Over the years I have made more profit through S&S ISAs than cash ISAs without lifting a finger other than choosing a good investment company, and millions have done the same- apparently 15% of all UK adults have them.

If over 65 then the full max limit without shares can still be had.

Thanks Oreo
We've been out then busy so we missed a lot except the main points.

Very sensible.

Oreo

Investing in shares is risky.
The £20,000 max limit is now only £12,000 and anything over that has to be in shares, so the ISA isn’t as attractive to most savers now.
If over 65 then the full max limit without shares can still be had.

Shares can certainly be risky.

Older people may prefer to put money into cash ISAs as a safe (perhaps boring) option, as they think it might be needed for care costs one day, or to draw on in retirement.