The Budget

motownjunk

Active member
What's the point in the Stamp Duty relief?
House prices have been way too expensive for years.
So now we look for ways to kick them up higher?
(yes I know it's a vote winner and helps keep the house-owning populace happy - but really!!!!)

If anything it shows just how bad the data forecasts must be that they are looking at.
Recession, currency collapse, housing crash.
Scary stuff
They have reduced stamp duty because interest rate are going to rise and that is bad for house prices. The tory core vote doesn't like house prices not to rise rapidly so they have reduced to stamp duty to try and off set the interest rate rise. It is entirely a political move and a desperate one.
 

HarryVegas

Well-known member
All the little working class tory supporters are quiet on this. But come next year, when the budget has given back to the low-paid a small portion of what they've just taken, you'll bet they'll be out trumpeting how they're 'our' natural government, just in time for the next election.
 

exiledinboro

Well-known member
If anything it shows just how bad the data forecasts must be that they are looking at.
Recession, currency collapse, housing crash.
Scary stuff

Was thinking the very same thing. Just how bad actually are things?

The wealth gap is going to widen. To be honest I think people will start to get angry soon so it might cause The Tories/Government long term problems
 

Ziggy

Well-known member
All the little working class tory supporters are quiet on this. But come next year, when the budget has given back to the low-paid a small portion of what they've just taken, you'll bet they'll be out trumpeting how they're 'our' natural government, just in time for the next election.

Seems to be designed for just that purpose, Harry
 

Boro in Devon

Well-known member
House prices falling are a major concern from the normal tory voters.

If this looks like happening their will be another round of quantitative easing to boost asset values.
 

GazC_MFC

Well-known member
The 45per cent tax was pretty disgusting though - especially when you add in the loss of personal allowance then moving into a negative personal allowance. That doesn’t feel right!

Ye really disgusting that the wealthiest people in the country were expected to more
 

ThePrisoner

Well-known member
The 45per cent tax was pretty disgusting though - especially when you add in the loss of personal allowance then moving into a negative personal allowance. That doesn’t feel right!

Can you hear it? That's me playing the world's smallest violin.
 
Are the BoE and the Govt not in conflict here? BoE trying to control inflation by taking money out of peoples pockets, the Govt is now loosening up taxation to put that money back in.

It would be far more valuable to me to get inflation under control and see the interest rates brought back down. We’re facing into a mortgage shock next year which is going to cost us an awful lot more than we’ve just gained through the mini-budget. Can imagine many others in the same boat.
 

Redwurzel

Well-known member
I think the top rate tax cut will come to haunt the Conservatives at the next election.

The vast majority of the UK population see 45% as reasonable and fair - these are the very richest income earners in the UK and can afford to pay a bit more tax. Many also claim tax reliefs that lower paid citizens don't or can't.
 

GazC_MFC

Well-known member
So after reading the article in full @FatCat lays a little bit of red-herring

People who earn between 100-125k will lose the tax free allowance, for every 2 earned they lose £1 allowance

People who earn over 150k are effected yes but not as much as 100-125k

Please forgive me if I don’t want to cry a river for 689,000 people earning more than 150k
 

ThePrisoner

Well-known member
Anyone who has been earning £150k for only a few years is already a millionaire. If I was a millionaire and bleated I'd fully deserve a couple of slaps.
 

The Ruthsayer

Active member
Anyone who has been earning £150k for only a few years is already a millionaire. If I was a millionaire and bleated I'd fully deserve a couple of slaps.
Not necessarily. And it depends what you mean by ‘only a few years’. That figure is gross of taxation. Then there is the new car (x2), enormous mortgage, dinner parties to host, children’s education and numerous foreign holidays. At £150k, you’d probably be visiting a food bank in St Albans, Guildford or Tunbridge Wells.
 
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