UK Politics

[zahidf]

"Treasury also announced today they're going to do the toughest/most damaging version of non-dom changes. Ripping up existing trusts, charging IHT on overseas assets, ending transitional relief, no consultation period. No balancing incentives to stay."

[pink_triangle]

My dad retired 17 years ago. He got free university, final salary pension with a decent lump sum. You ask him and he is completely in favour of a distribution away from people like him.

[lost]

44 minutes ago, cellar said:

 doesn't that mean it's basically the people with a testable income between £11,343.80 and £12,643.80 that are worse off?

 

Yep I think thats right £11350ish is the cut off so there will be an amount where you would of been better off with the payments than your "other income"

[steviewevie]

Anyway, the other thing to come out of all that is what OBR said after and basically Hunt should quit the dodgy f**ker.

[Ryan1984]

55 minutes ago, pink_triangle said:

My dad retired 17 years ago. He got free university, final salary pension with a decent lump sum. You ask him and he is completely in favour of a distribution away from people like him.

I imagine most are like your dad, but a very vocal minority - with huge backing from certain media outlets - think very differently.

[steviewevie]

 

[lazyred]

1 hour ago, pink_triangle said:

My dad retired 17 years ago. He got free university, final salary pension with a decent lump sum. You ask him and he is completely in favour of a distribution away from people like him.

 

A better solution would be to make the allowance taxable

[steviewevie]

They need more evidence 

 

[fraybentos1]

1 hour ago, Ryan1984 said:

I imagine most are like your dad, but a very vocal minority - with huge backing from certain media outlets - think very differently.

Nah most boomers want more more more. They are often an entitled bunch who think they’ve earned it 

[steviewevie]

Age UK bloke is estimating about 2 million who are just above threshold or whatever will be negatively affected by losing winter fuel payment. A big problem is a lot of people eligible for pension credit don't get it, and not enough time to sort that out before winter. Maybe it can be refined, or even paused.

[steviewevie]

twitter total binfire this morning with the murders in Southport...some dangerous stuff being spread.

[Ryan1984]

This is a more balanced article about Reeves’ decisions on the BBC: https://www.bbc.co.uk/news/articles/c6p24zpeg05o

[Nobody Interesting]

13 hours ago, lazyred said:

I'm not defending the cut because I disagree with it. But the cliff edge is not as bad as you say.

 

First old basic state pension is 169.50 and pension credit tops this up to 218.15 or 332.95 for couples. Your case should get pension credit unless they have too much savings or some state second pension.

 

Second it any means tested benefit that still qualifies for the allowance not just pension credit. This will include housing benefit, not sure if council tax relief will count.

 

There are so many who will not get the WFA who are struggling, Martin Lewis (who has loads of info) estimates around 3 million might be badly effected.

I wouldn't be against scrapping the winter fuel payment for the wealthy, but the way they're doing it seems to exacerbate an extremely unfair situation for people who get the full new state pension and no other income.

How can it be right that someone who isn't entitled to state pension because of missing contributions actually comes out with more than someone with 45 years of contributions?

That's bonkers. Why not use the higher rate tax threshold as the cut off?

This is from the Labour Manifesto

"We will support pensioners and give them the dignity and security they deserve in retirement." 

 

[Nobody Interesting]

The UK needs money.

 

So why oh why was this hidden away yesterday in the list of things they are now scrapping?

"The planned sale of publicly owned NatWest shares"

 

If you are skint you use assets to generate money to see you through, that's what us normal folk have to do so why is the government choosing to sit on lots of money? From what I can find we still own 48.1% worth around 11 billion.

[lazyred]

 

[lazyred]

1 hour ago, Nobody Interesting said:

How can it be right that someone who isn't entitled to state pension because of missing contributions actually comes out with more than someone with 45 years of contributions

That is very unlikely to happen. Most lifelong workers have extra state second  pension or private pension putting them over the pension credit threshold. Those just over the threshold can still get help with rent and council tax. 

There are lots of reasons why someone doesn't have a full NI record. I don't agree with the cut but I'm not criticising those who still get it.

 

1 hour ago, Nobody Interesting said:

That's bonkers. Why not use the higher rate tax threshold as the cut off?

It wouldn't save much there are a lot less pensioners on higher tax than workers

 

[steviewevie]

Today it's Rayner's turn.

[Nobody Interesting]

Not sure where to put this but as the UK needs money here seems like a good place................... let's hope it actually happens.

https://news.sky.com/story/serious-global-progress-g20-countries-agree-to-targeted-tax-on-super-rich-in-theory-13186697

 

"Bllionaires currently pay the equivalent of 0.3% of their wealth in taxes"

Edited July 30 by Nobody Interesting

[steviewevie]

I guess the pension thing shows how universal benefits is just simpler.

[lost]

Looks May's dementia tax was also introduced yesterday (cap on care costs removed)

[lazyred]

2 hours ago, Nobody Interesting said:

The UK needs money.

 

So why oh why was this hidden away yesterday in the list of things they are now scrapping?

"The planned sale of publicly owned NatWest shares"

 

If you are skint you use assets to generate money to see you through, that's what us normal folk have to do so why is the government choosing to sit on lots of money? From what I can find we still own 48.1% worth around 11 billion.

The tories were going to sell some of them at a discount to retaill investors. I think they are still going to sell the shares but all at market value 

[Nobody Interesting]

15 minutes ago, lazyred said:

The tories were going to sell some of them at a discount to retaill investors. I think they are still going to sell the shares but all at market value 

At the moment the whole sale is on hold.

Sell 20% of what we have and that raises more than the WFA cuts will create without all the associated problems that will bring.

Listening to things from Age UK and other groups today it really is a uturn waiting to happen, just how quickly they do it is the question now.

[steviewevie]

1 hour ago, lost said:

Looks May's dementia tax was also introduced yesterday (cap on care costs removed)

one day someone will have to fix social care properly.

[steviewevie]

 

[lazyred]

2 hours ago, lazyred said:

That is very unlikely to happen. Most lifelong workers have extra state second  pension or private pension putting them over the pension credit threshold. Those just over the threshold can still get help with rent and council tax. 

There are lots of reasons why someone doesn't have a full NI record. I don't agree with the cut but I'm not criticising those who still get it.

 

It wouldn't save much there are a lot less pensioners on higher tax than workers

 

I can't edit this but there is a small but increasing group of people with a full new state pension but no protected additional pension.  These people are about £3 per week worse off than getting pension credit plus the fuel allowance.