George Osborne's Autumn Statement - your reactions please!

(224 Posts)
CatherineHMumsnet England (MNHQ) Wed 05-Dec-12 10:30:59

The Chancellor George Osborne will begin making his Autumn Statement in Parliament today at 12.30. Thought we should start up a thread so Mumsnetters can comment as it happens.

evilhamster Wed 05-Dec-12 13:13:25

Autumn statement? In December? Yet another thing he's confused about...

LoopsInHoops Wed 05-Dec-12 13:13:35

Twittermeadwaj @meadwaj
I think they are actually just pulling figures out of their bottoms at this point. 2.8% growth by 2015? Did I hear that right? #as2012
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LoopsInHoops Wed 05-Dec-12 13:14:14

Chancellor says he would have to hit the UK with £17 billion extra cuts per year to meet supplementary debt target. BINGO!

LoopsInHoops Wed 05-Dec-12 13:14:40

Oh, I forgot all the 'on course, can't give up now' bullshit

JakeBullet Wed 05-Dec-12 13:15:10

Douglas Carswell (Tory MP) on Twitter is just on fire lol.

"So we missed the target then....why not just say so".

LoopsInHoops Wed 05-Dec-12 13:15:20

'turning back now would be a disaster' BINGO!

JakeBullet Wed 05-Dec-12 13:17:07

"Families out of work should not get more than those in work".....he has said that twice now....double BINGO

LoopsInHoops Wed 05-Dec-12 13:17:45

'Osborne repeats the mantra "we are all in this together" - to cheers from coalition MPs and jeers from Labour.'

DOUBLE BINGO!!

78bunion Wed 05-Dec-12 13:21:14

No real cuts. No real change. Nothing for enterprise. Tinkering at the margins.

niceguy2 Wed 05-Dec-12 13:29:18

Agreed. Biggest announcement was probably the scrapping of the 3p fuel duty rather than another delay which is probably the right thing to do. Another delay just brings another round of bad press nearer the time.

TBH I don't think he's got much room for manoeuvre.

Electricblanket Wed 05-Dec-12 13:29:36

What an awful response from Balls! He can't speak.

PPPop Wed 05-Dec-12 13:32:58

Ed balls conquered a stammer. I think he's doing pretty good, it sounds like a bear pit.

claig Germany Wed 05-Dec-12 13:33:28

Ed Balls keeps asking "Mr Speaker" questions, and "Mr Speaker" doesn't reply to him. What's that all about? If he wants to have a discussion with "Mr Speaker", why do teh whole house have to listen in?

Balls' reply to Osborne is a mishmash, it;'s meandering all over the place and getting nowhere.

MrsjREwing Wed 05-Dec-12 13:35:40

Mr Speaker has no spare time, too busy saying calm down and being exasperated by Sally.

claig Germany Wed 05-Dec-12 13:35:41

ElectricBlanket, I agree with you. Balls' speech is a load of all with bells on. I thought he was better than this. Even the Labour benches are falling asleep, having well and truly lost what little thread there was.

mrscogon34thstreet Wed 05-Dec-12 13:38:30

Heard Ed Balls going on about the USA's 4.1% growth since 2010. The problem is that they have achieved this by harvesting loads of natural gas and thus bringing their energy prices down so that their consumers have more $ to spend.

This is something we could do (North Sea gas), alas EU rules don't allow it - which party is it again that love the EU? Oh yes, Labour! So hypocritical!

claig Germany Wed 05-Dec-12 13:39:02

Labour are lucky that Balls did not become leader. This is almost incoherent and insignificant, and appealing to "Mr Speaker" for help is making it worse.

hoodoo12345 Wed 05-Dec-12 13:43:30

George Osborne- the Devil in a suit, makes my skin crawl.

CinnabarRed Wed 05-Dec-12 13:48:08

I'm a tax policy adviser for one of the big professional services firms. I've got 20 mins before my next press interview - if anyone's got any questions on tax then I'm happy to do what I can to answer.

Which tax avoidance loopholes have been closed? He talked a lot about it without saying anything at all.
I'm not talking tax evasion, which is illegal, but "aggressive tax avoidance".

StiffyByng Wed 05-Dec-12 13:51:30

Claig, all speeches in the House are directed at Mr Speaker. All the other people making speeches will do the same. It's a formality.

MrsjREwing Wed 05-Dec-12 13:52:21

how many people put 40k a year into a pension?

claig Germany Wed 05-Dec-12 13:55:46

Thanks, StiffyByng. I'm all for tradition, but it just seems a bit archaic to mention "Mr Speaker" neraly every sentence. Osborne didn't seem to do it as often, and it just seemed so noticeable in Balls' speech.

Electricblanket Wed 05-Dec-12 13:57:11

My husband does Mrs Ewing. Its That or pay 50% tax on his bonus. It's a huge amount of money, we know that!

CinnabarRed Wed 05-Dec-12 14:00:43

There are three corporate tax loopholes that have been closed, all highly technical and very much a minority sport to do with dodgy financing between group companies (their names are mismatch schemes, property return swaps and manufactured payments, if you're interested. Net effect to the Exchequer of their closure estimated at £nil - which shows you how minority they are.

There's also a measure to stop UK banks who have paid bank levies overseas from claiming double tax relief - that's worth around £340m per annum.

Significantly less than 1% of the population pay more than £40k into pensions per annum. The main people affected will be those in defined benefit schemes earning more than £80k, who maybe haven't earned much in the past but have been awarded promotions and now want to top up their pensions. The big question is who pays the extra tax - the employee or the pension fund?

DB schemes earning over £80k. Who pays the tax? Employee or pension fund?

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