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Budget 2012 explained: Live webchat with Mark Dampier, Head of Research at Hargreaves Lansdown, Wednesday 21 March 12.30-2pm

(289 Posts)
AntoniaMumsnet (MNHQ) Mon 19-Mar-12 16:28:20

It's Budget day on Wednesday. What will happen to the 50p tax rate? Will we see a mansion tax? What about child benefit?

It could be a red letter day for your family finances. We are delighted to welcome Mark Dampier to Mumsnet for a live budget webchat. Mark is head of research at Hargreaves Lansdown, the independent financial adviser, and an all-round financial guru. He will be translating the Chancellor's statements as he makes them, and finding time to answer your comments.

Mark will be busy keeping an eye on Osborne, so please don't post questions about your own family finances here (we've got plans for a special Q&A about this later, see below). Do join us here at 12.30, when the fun begins.

Coming up: We've set up a Q&A with a panel of experts to take questions on your family finances after the Chancellor sits down.

Next week, Mumsnet favourite Alvin Hall will be in on Thursday 29 March for a live webchat on savings and investments.

It's all about the Money at Mumsnet HQ.....

SweetTheSting Mon 19-Mar-12 18:16:52

Excellent choice! Unfortunately I will be at a conference but will check the thread afterwards.

SophieNeveu Mon 19-Mar-12 20:33:02

marking my place.

gazzalw Mon 19-Mar-12 20:57:24

We are one of those families threatened with losing child benefit even though I am only just over the threshold and DW is a SAHM. We are tremendously worried that we are going to lose it (we would really struggle without it) and how on earth can Mr Osborne justify doing so for London-based families were life is so much more expensive to start with. If we don't get the result we deserve (i.e. single income families in higher tax bracket getting a nod to fact that their income potentially doesn't match two-income families) are there any ways we can soften the blow or avoid losing our child benefit.

Personally feel that Mr Osborne could look at capping CB at two children (and no more) or just not for any families on long-term benefits who choose to have more than two children!

SophieNeveu Mon 19-Mar-12 21:01:08

I am worried about the tax children will be charged by the government for collecting minimum levels of their child support, and what the criterea of domestic abuse is?

SanctiMoanyArse Tue 20-Mar-12 09:51:00

Gazza there are so many pitfalls there though- what about families who have their children THEN end up unemployed from redundancy, sickness, disability? That can happen to anyone, especially if someone is struggling to cope.

My question: My husband will be trying to make a go of his business this year and his target is X hours at minimum wage (I am a carer, although I am starting a business it will not be profitable this year, should be next). Will the raise in Minimum Wage affect our entitlement to WTC as whilst the expected income is over MW in the next year it does not quite meet the extra; it is possible we could meet this by reducing stock levels but we do not know if we have to call HMRC and up our expected income or if leaving that until we have a fuller picture later in the year is sufficient. The aim is to get the business to make a MW level for a 40 hour week in the 2013 - 2014 tax year. Maintaining a high level of stock is essential to meet specific requests, tehre is a chance reducing stock levels will reduce overall performance.

I hope you understand what I mean, not sure I phrased it well, sorry.

Northernlurker Tue 20-Mar-12 10:45:14

Why is nobody talking about what will happen to the Home responsibilities protection aspect of Child Benefit? What will happen to the future pensions of sahps whose partners are higher rate tax payers?

Elabella1401 Tue 20-Mar-12 13:47:14

Those of us who live in rural areas with little or no access to reliable public transport are paying disproportionately in terms of fuel duty. Our village shop and post office have closed and they will be followed very shortly by our primary school. Three more facts that will force me into the car whilst simultaneously chipping away at my quality of life. Will the Chancellor be offering people like me anything to compensate....and NO I don't mean bloody Wind Turbines!

Greeata Tue 20-Mar-12 13:49:57

Oh I love Alvin.

My guess is that I'm not going to be better off after Wednesday.

Lexilicious Tue 20-Mar-12 14:13:19

Would love an increase to the amount of salary sacrifice I can put away to Childcare Vouchers, but not really expecting it. Looking out for fuel duty, stamp duty and definitely minimum booze pricing (as I met someone in the know a couple of weeks ago who tipped that one).

And of course I will be listening out on public sector pay and conditions. I am a central govt civil servant in the South East; because my department was operating a three year pay deal we still got a pay rise in the first year of the pay freeze, so our freeze will go on a year longer than everyone else IYSWIM.

champagnesupernova Tue 20-Mar-12 17:57:39

Marking place

scrappydappydoo Tue 20-Mar-12 19:45:10

Was just coming on to ask the same question as Northernlurker - so attaching myself onto her post smile

motherwifeme Wed 21-Mar-12 07:57:53

Unfortunately I'll be having to check in on this after the event as am off to LBC radio, with my mum hat firmly on, to join in similar discussion with James Whale and a room full of people from different backgrounds to discuss. Look forward to seeing what happens here to compare views.

noddyholder Wed 21-Mar-12 10:34:30

The budget deficit doubled in Feb shock so I wouldn't expect any give aways

BoffinMum Wed 21-Mar-12 12:08:31

After childcare costs, I am expecting my net residual salary to drop by £2800, as we'll probably be losing child benefit. That constitutes 50% of my income.

Just thought I'd make the point.

MarkDampier Wed 21-Mar-12 12:09:48


BoffinMum Wed 21-Mar-12 12:13:16

Here is my suggestion for an alternative budget and Big Society.

Set up a national system of nurseries for over 2's, free at the point of use, to correspond with the needs of working parents (like in the war). Men will be required to do all drop offs and pick ups.

Introduce free transport to school for all children. Healthy pensioners under 70 will be conscripted to drive everything.

Introduce free school meals for all children, and milk and vitamins, and fruit and veg.

Introduce free prescriptions and dental treatment for anyone who has ever given birth, for the rest of their lives.

Sack every single bloke from the cabinet immediately and build an all-female cabinet with representative women from all age groups. but we can have a token male Minister for Men.

Take all men off boards, apart from a few token ones.

Raise tax to 70% to pay for all this, because actually most women would be better off, paradoxically.

Then proffer a small amount of money, say £20.30 a week for the first child and £13.40 for second and subsequent children, to the men, so they had a little bit of money to call their own, for family use. Oh, and then take it away if the mother earned over £40k.

Let's see what's actually announced, shall we?

hellokittyrules Wed 21-Mar-12 12:29:19

nearly time

Sariska Wed 21-Mar-12 12:29:33

Also attaching myself to NorthernLurkers question about what will happen about protecting the entitlement to a state pension of stay at home parents who lose their child benefit.

AntoniaMumsnet (MNHQ) Wed 21-Mar-12 12:30:20

We're delighted to welcome Mark Dampier to Mumsnet to help us decode the budget. The Chancellor is just about to stand up and we'll be off.....

MarkDampier Wed 21-Mar-12 12:33:04

look out for moves on personal allowance £1000 increase is worth £200pa

MarkDampier Wed 21-Mar-12 12:34:18

but likely to be overall tax neutral,why?govt has no money!

BoffinMum Wed 21-Mar-12 12:34:35

<wets pants with excitement, £200 pa equates to only losing 43% of my total residual income after tax and childcare, rather than 50%>

BoffinMum Wed 21-Mar-12 12:35:11

I agree, Mark. Why on earth just move the deck chairs on the Titanic?

AntoniaMumsnet (MNHQ) Wed 21-Mar-12 12:35:31

The Chancellor claims that this will be a Budget for working families; let's wait and see what concrete measures he announces!

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