The media scrutiny of Reeves Budget

Nano said:
I don't understand the complaints about minimum wage. The wage rise is linked to median wage inflation so your prices will rise to cover it, as will any of your competitors. This complaint only ever makes sense in isolation if you were the only one raising your costs and prices but that isn't the case because it affects every business in the same way.
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I didnt complain about minimum wage, I merely stated that it was another pressure upon the margins that I could work with.
My business was a franchise business and therefore I had to work with pricing guidelines imposed upon me. Competitors in my area, could structure their business in different ways, allowing them to undercut my prices. I was always going to be 20% more expensive than a non franchise company due to the royalties I had to pay. I paid a premium to cover branding and marketing and the ability to follow an operating model.
In terms of minimum wage, I tried to lift my better performing employees to be above the minimum and didnt penalise younger employees by paying the adult rate.
I am in support of the budget and think that business should contribute more. However the effect on my business, if I was still there, would be to push the revenue generators harder, reduce costs wherever possible to the extent that some roles/ hours would be under threat.

The employment allowance increase would have helped, to be honest I cant remember how we worked with that, as my accountants dealt with a lot of the payroll type issues.
 
Boro in Devon said:
I didnt complain about minimum wage, I merely stated that it was another pressure upon the margins that I could work with.
My business was a franchise business and therefore I had to work with pricing guidelines imposed upon me. Competitors in my area, could structure their business in different ways, allowing them to undercut my prices. I was always going to be 20% more expensive than a non franchise company due to the royalties I had to pay. I paid a premium to cover branding and marketing and the ability to follow an operating model.
In terms of minimum wage, I tried to lift my better performing employees to be above the minimum and didnt penalise younger employees by paying the adult rate.
I am in support of the budget and think that business should contribute more. However the effect on my business, if I was still there, would be to push the revenue generators harder, reduce costs wherever possible to the extent that some roles/ hours would be under threat.

The employment allowance increase would have helped, to be honest I cant remember how we worked with that, as my accountants dealt with a lot of the payroll type issues.
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I know I said "you" and "your" but I was really talking generally and when I said "the complaints" I meant the complaints from everyone, not you specifically.

My point is still the same though. Your worry is that competitors can charge less than you but the wage rise will hit them as well so if you have to raise your prices then so would the competitors. The margin between your prices and theirs would be the same would it not?
 
Nano said:
It can only be satire.

I don't even understand what their angle is because it's so obviously not true. What changes have been made that actually affect them and would force them back to work? I get that some changes will mean they will have slightly less money but there is nothing that would take all of their money away. Surely the paper could have come up with a more believable story
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Probably written and filed before the Budget along with a load of other well chosen case studies.
 
1finny said:
LinkedIn is great at the moment too
People really losing their shti over NI contributions for employers
‘Socialism is back, blah, blah,
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LinkedIn is full of people who have used government assistance over the past 14 years to fund their lifestyles and salary bands, while declaring themselves 'entrepreneurial'. they haven't invested in their businesses, and now they don't have the ability to change tack.
 
I’ve just scrolled through my FB this morning and read a post from an old colleague who retrained and became an offshore worker years ago. Fair play to him, he’s done well and has obviosly earned a few quid.

He seems to be advertising a new rental property every 6 months or so. Business must be decent!

He’s just posted how Labour are destroying his country and making life here impossible. So he wants to look at moving to Dubai.

👋🏻
 
This has all been a huge help for my mental health.

next time I am feeling low, or doubting my abilities or feeling like an impostor, I will do my best to summon up just 10% of the self confidence on display by various out of work ex Tory ministers and MP's who are filling the airwaves offering their "expert" advice on how this government isn't spending enough on the NHS, or social care etc.

Absolute whoppers the lot of them.
 
Richyboro said:
Great budget, have they all forgotten about the great Liz Truss?
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True enough, although I would also suggest that those who are of the view that budgets never got this sort of scrutiny under the Tories have short memories as well. Kwazi’s mini version had a whole order of magnitude more media grief two years ago (quite rightly as it was utterly bonkers, but it had it all the same).
 
FishofContemplation said:
True enough, although I would also suggest that those who are of the view that budgets never got this sort of scrutiny under the Tories have short memories as well. Kwazi’s mini version had a whole order of magnitude more media grief two years ago (quite rightly as it was utterly bonkers, but it had it all the same).
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Only when the true impacts came out you could argue.

Some were celebrating in the immediate aftermath.

Daily Mail, obviously!

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Nero said:
The Telegraph is going into meltdown. How dare Labour do something different to a Tory party that has made things worse for 14 years. Bloody *****.
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Worse for most, others done very, very well out of the Tory "management" of the Public Finances.

For a lot of them it certainly looks like the gravy train has well and truly been derailed thankfully 👍
 
JHS1 said:
Gilt yields are now higher than when Liz Truss 'crashed the economy'. Pound also plummeting. This budget is looking like another disaster.
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Gilt yields are higher because of the increased borrowing that has been announced. The pound isn't plummeting, it's dropped by half a percent and it's higher than it was this time next week. The fall in the pound is largely due to there being no major disasters in the budget so confirming the expectation that interest rates are expected to come down.
 
JHS1 said:
Gilt yields are now higher than when Liz Truss 'crashed the economy'. Pound also plummeting. This budget is looking like another disaster.
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I am fed up of seeing and hearing right wing media presenters and politicians absolutely talking doom and gloom about the budget and how hard its going to be for ordinary folk, telling us what is good for us ffs. It is like the last 14 yrs were a breeze and suddenly the sky is falling unexpectedly in on their sunlit uplands, whilst those ‘scruffy urchins’ on housing estates feel they should be treated fairly cared for and helped to survive. They’d happily take us back to Victorian times and make kids sweep chimbleys and have the poor die at 40 if it meant a better life for them.

The talk of people going on about how this country is now going to the dogs and being minded to run to Dubai, Singapore or some other tax haven, good, go, feck off, good riddance, there will always be somebody ready to fill their void anyway. People who want to respect their country and its fellow citizens rather than be utterly selfish money grabbing to$$ers should be the ones we encourage. Anyone wanting to leave for such pathetically selfish reasons should be banned from coming back to use the NHS as health tourists, as many will no doubt want to at some future point. No UK taxes currently being paid or N.I credited whilst abroad, no UK public service access rights.
 
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