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UK Politics


kalifire

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Long awaited budget in a few days...apparently there won't be any rabbits, it's been all about pitch rolling and no surprises. So looks like will be increased borrowing due to fiscal rules changes in how debt measured, this is for investment in stuff that they hope will lead to better public services and a growing economy. The other big thing is that day to day spending should be paid for by taxes, so that will mean both tax rises and spending cuts. Looks like they will raise employers NI, change inheritance tax, put up CGT, keep income tax thresholds frozen. I expect will please no one and there will be lots of moaning from right about tax rises and left about spending cuts, it will be manifesto pledges being broken and bus fares. I think it is good that there is a bit of a reality check going on, you can't have better public services without putting up taxes.

Big risks though, how markets react, what happens to interest rates and unemployment. Will any of this be making a difference by the time of the next election when opposition parties will be offering big tax cuts (and immigration cuts etc)?

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The budget leaks have prepared the bond markets. They have probably exaggerated the tax and borrowing increases so it won't look quite as bad. They need to nail down this working people stuff. Just say no tax increases on wages or vat. 

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18 hours ago, steviewevie said:

Free Mike Amesbury

ha my local MP, and the incident was in the town I live in. The absolute best part of it is that its a quiet little village/town where very little happens. The CCTV isn't ideal for him, nor is the getting in the guy's face when he's on the floor. Or keeping hitting him when he's on the floor. Or being out at nearly 3am in such a state as someone in an actual sitting government (though you may say he represents parts of his constituency, and much of the country, more accurately than many recent MPs...). 

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10 minutes ago, steviewevie said:

looks like they're going to freeze fuel duty, which sits nicely with raising the bus fare cap to £3.

I'm glad they've kept the buses capped, its one of the few things that actually impacts me day to day as I refuse to have a car.

 

Before the cap came in, we found that we were getting charged a £6+ whole area day saver for a return to the next town along which is around 2 miles (there was no other option apparently), and I assume that will have gone up now so stops the infinite increases that seemed to be happening. £2 for the 1 hour journey from my dad's to Liverpool last week was great though, and £3 is still good for that

Edited by efcfanwirral
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1 hour ago, efcfanwirral said:

ha my local MP, and the incident was in the town I live in. The absolute best part of it is that its a quiet little village/town where very little happens. The CCTV isn't ideal for him, nor is the getting in the guy's face when he's on the floor. Or keeping hitting him when he's on the floor. Or being out at nearly 3am in such a state as someone in an actual sitting government (though you may say he represents parts of his constituency, and much of the country, more accurately than many recent MPs...). 

yeah, he won't be an MP for much longer.

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