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Nervous/anxious/scared about the Autumn budget 2024

683 replies

Cartwrightandson · 26/10/2024 19:29

I know that we don't know any details. We have read or heard bits that might be incorrect or just plain wrong. I also know we won't know anything until Wednesday when Rachel Reeves publishes/announces the contents of the budget...

But what we do know...it's the first labour budget for over 14 years, we've had a conservative government, austerity, brexit, covid and cost of living/interest rate increase meaning our economy is not in a good place.

Our services/infrastructure haven't had much needed investment for a long time.
Councils are practically bankrupt, some already are. Schools, housing, NHS, social care and economy are all struggling..to remedy this requires money and this will need to come from higher taxes.

There's a 19 billion pound black hole and Labour have already removed the winter fuel allowance, showing they are willing do things that are unpopular or possibly controversial..the Labour manifesto said it wouldn't increase taxes, but now they are saying they have to.

They've already allocated money for Ukraine, teachers, train drivers, junior doctors, NHS staff ect

Keir said people who don't 'work' for their income (shares/savings/landlord income) aren't classed as working people and will be taxed..

Basically this budget is going to need to raise taxes to pay for investment in services. That much we do know. But where the cuts and the tax increase will be is unknown. I don't think anyone will be 'better off'...

Possibilities.. (note these are not absolute, I could be very wrong)

Inheritance tax changes
Fuel duty increase
Income tax increase
Social housing rent increase
Benefit cuts
No free universal prescription for over 60s
Change to tax free allowance
Removal of help to buy, right to buy and alterations to stamp duty
Pension age to increase
State pension to decrease?
Tuition fees to increase
Tax free pension allowance to be reduced
Isa/bond/shares/investments taxed

Who really knows...but I think the labour comms are possibly leaking information so that we are being drip fed so when the budget does happen we already know and are braced/prepared for it.

Or what is being leaked about the budget is really bad but when the budget happens we are relieved it wasn't as bad the leaks hinted at. But it is still painful but we are more accepting because it's not as bad as it could have been...if that makes sense.

OP posts:
Thread gallery
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cardibach · 29/10/2024 16:57

EasternStandard · 29/10/2024 16:54

What a finish, same to you. That pre GE lack of outline of any tax rises is the issue.

If you look at polling you'll see liar is polling high for a reason. And personal ratings are plummeting.

That's down to their mistakes and the contrast between pre GE and post. You don't get to obfuscate about fully funded and then go full 'harsh light of fiscal reality' and 'pain' without public backlash. That's easy to get, many people are pissed off.

As for people getting annoyed at what is being said off mn, so what? It's not all great for Labour atm as much as people post otherwise.

But they did talk about tax rises. Isn’t that what all the frothing is about?

EasternStandard · 29/10/2024 16:57

PandoraSox · 29/10/2024 16:50

I find it very annoying when posters say "look outside mumsnet and read commentary" over and over and OVER again.

It is insulting to suggest that everyone else only follows politics via mumsnet.

Grrr.

Edited

It's the reality of polling and sentiment. The gap between these threads and that is bizarre at times.

Boomer55 · 29/10/2024 16:56

GimmeHRT · 29/10/2024 15:00

Budget messaging has been shite. All doom & gloom. Suffer now but good times will come. Can’t predict the future as there might be another Covid/Ukraine so taxes might have to go up again blah blah blah

The party of misery

I wish I had a pound for every party, over a lot of years, that had promised tough medicine today and happiness tomorrow,

I don’t know who Labour think they are kidding. 🙄

EasternStandard · 29/10/2024 16:54

cardibach · 29/10/2024 16:45

Yes. Their manifesto. Which said there wouldn’t be tax rises for PAYE at basic level or NI. It didn’t rule out anything else - in fact it indicated some tax changes. Why do you pretend they said they could do it with the figures in the last Tory budget? That’s just nonsense. You are brighter than this.

What a finish, same to you. That pre GE lack of outline of any tax rises is the issue.

If you look at polling you'll see liar is polling high for a reason. And personal ratings are plummeting.

That's down to their mistakes and the contrast between pre GE and post. You don't get to obfuscate about fully funded and then go full 'harsh light of fiscal reality' and 'pain' without public backlash. That's easy to get, many people are pissed off.

As for people getting annoyed at what is being said off mn, so what? It's not all great for Labour atm as much as people post otherwise.

BIossomtoes · 29/10/2024 16:53

PandoraSox · 29/10/2024 16:50

I find it very annoying when posters say "look outside mumsnet and read commentary" over and over and OVER again.

It is insulting to suggest that everyone else only follows politics via mumsnet.

Grrr.

Edited

I know. Infuriating, isn’t it? Maybe reading three newspapers with completely divergent views, listening to several podcasts and watching a number of different broadcast news outlets isn’t enough? I’m definitely not going to start reading The Mail though it might do my low blood pressure good!

PandoraSox · 29/10/2024 16:50

I find it very annoying when posters say "look outside mumsnet and read commentary" over and over and OVER again.

It is insulting to suggest that everyone else only follows politics via mumsnet.

Grrr.

cardibach · 29/10/2024 16:45

Yes. Their manifesto. Which said there wouldn’t be tax rises for PAYE at basic level or NI. It didn’t rule out anything else - in fact it indicated some tax changes. Why do you pretend they said they could do it with the figures in the last Tory budget? That’s just nonsense. You are brighter than this.

EasternStandard · 29/10/2024 16:39

cardibach · 29/10/2024 16:25

You keep saying that. You also keep ignoring the fact that ‘fully funded’ means ‘fully funded in the budget’.

You're not correct on that, not sure where you've picked that up. If you look at Starmer's own words pre GE.

This manifesto is that plan. Fully costed, fully funded – built on a rock of fiscal responsibility.

It is clearly about their manifesto. That's their problem currently, that lie and hence the plummeting polls. If people look outside mn and read commentary it's easy to get a sense of why that is.

The budget hadn't even been thought of yet so not sure where you've got that from. It has taken nearly 4 months to put together which is longer than most.

cardibach · 29/10/2024 16:25

You keep saying that. You also keep ignoring the fact that ‘fully funded’ means ‘fully funded in the budget’.

EasternStandard · 29/10/2024 16:04

IKEAJesus · 29/10/2024 16:01

I don’t think they should have lied, but think they really need to work on their communication. I don’t think anyone has ever expected the Budget to be sunshine or rainbows, but there was no need for KS to be quite so negative a couple of months ago - this is what really opened the door to so much unhelpful speculation.

Current polling will also reflect the switch from pre GE 'fully funded, fully costed' to 'pain' and 'harsh light of fiscal reality' doom

Generally public sentiment has reacted to that initial lie so it's not surprising many are pissed off with them

Smoothopera · 29/10/2024 16:02

BIossomtoes · 29/10/2024 15:48

So you’d rather they lied and produced a budget accordingly? It’s all sunshine and rainbows, the economy is booming and awash with money, tax cuts all round. Then what six months down the line?

Agreed. I think they absolutely would like them to lie. It’s like we’ve been lobotomised. When Hunt promised the cut to NI in the last budget, most economists scratched their heads in disbelief. Meanwhile we lapped it up and clamoured for tax cuts as well despite moaning about the state of the country. For an apparently educated nation, we are very deluded.
You can bet your bottom dollar that every thing this government does will be scrutinised to the nth degree. But the last 14 years will somehow be re fashioned into a golden age of prosperity.

IKEAJesus · 29/10/2024 16:01

BIossomtoes · 29/10/2024 15:48

So you’d rather they lied and produced a budget accordingly? It’s all sunshine and rainbows, the economy is booming and awash with money, tax cuts all round. Then what six months down the line?

I don’t think they should have lied, but think they really need to work on their communication. I don’t think anyone has ever expected the Budget to be sunshine or rainbows, but there was no need for KS to be quite so negative a couple of months ago - this is what really opened the door to so much unhelpful speculation.

BIossomtoes · 29/10/2024 15:48

GimmeHRT · 29/10/2024 15:00

Budget messaging has been shite. All doom & gloom. Suffer now but good times will come. Can’t predict the future as there might be another Covid/Ukraine so taxes might have to go up again blah blah blah

The party of misery

So you’d rather they lied and produced a budget accordingly? It’s all sunshine and rainbows, the economy is booming and awash with money, tax cuts all round. Then what six months down the line?

Smoothopera · 29/10/2024 15:29

GimmeHRT · 29/10/2024 15:00

Budget messaging has been shite. All doom & gloom. Suffer now but good times will come. Can’t predict the future as there might be another Covid/Ukraine so taxes might have to go up again blah blah blah

The party of misery

Better than the party of lies, corruption, stick your head in the sand 🙄

GimmeHRT · 29/10/2024 15:00

Budget messaging has been shite. All doom & gloom. Suffer now but good times will come. Can’t predict the future as there might be another Covid/Ukraine so taxes might have to go up again blah blah blah

The party of misery

Smoothopera · 29/10/2024 14:26

Notonthestairs · 29/10/2024 14:22

There was almost certainly was angst and concern behind the scenes of Kwarteng's budgets - they just didn't publish it.

news.sky.com/story/amp/kwasi-kwarteng-was-warned-economy-worsened-significantly-but-went-ahead-with-mini-budget-12928466

Agreed. Likewise the fallout of Brexshit, another elephant in the room.

Smoothopera · 29/10/2024 14:25

ChardonnaysBeastlyCat · 29/10/2024 13:16

Probably because he didn’t bang on about the cold light of fiscal doom and misery.

Well yes. Why would he. His party caused it. Maybe the economy is in a mess, the infrastructure falling apart. Are Labour supposed to lie ?

People can see the reality with their own eyes. And obviously the Tories never banged on about New labour did they ?

Notonthestairs · 29/10/2024 14:22

Smoothopera · 29/10/2024 12:46

Weird. Did Kwateng’s budget cause so much angst ? Pensioners literally lost millions because of the damage to the economy, mortgages shot up. It beggars belief the fear mongering. And then you’ve got the drone of certain notorious posters who really aren’t affected banging on about immigration. What a mess.

There was almost certainly was angst and concern behind the scenes of Kwarteng's budgets - they just didn't publish it.

news.sky.com/story/amp/kwasi-kwarteng-was-warned-economy-worsened-significantly-but-went-ahead-with-mini-budget-12928466

ChardonnaysBeastlyCat · 29/10/2024 14:16

BIossomtoes · 29/10/2024 13:55

He didn’t have time to. No risk assessment, no consultation with the OBR, no thinking, just a rushed out catastrophic budget that spooked the markets and which everyone with a mortgage is still paying for.

Absolutely.

The PP was wondering why it didn’t cause the current levels of angst, and that was what my post was about.

Your post is neither here nor there.

BIossomtoes · 29/10/2024 13:55

ChardonnaysBeastlyCat · 29/10/2024 13:16

Probably because he didn’t bang on about the cold light of fiscal doom and misery.

He didn’t have time to. No risk assessment, no consultation with the OBR, no thinking, just a rushed out catastrophic budget that spooked the markets and which everyone with a mortgage is still paying for.

ChardonnaysBeastlyCat · 29/10/2024 13:16

Smoothopera · 29/10/2024 12:46

Weird. Did Kwateng’s budget cause so much angst ? Pensioners literally lost millions because of the damage to the economy, mortgages shot up. It beggars belief the fear mongering. And then you’ve got the drone of certain notorious posters who really aren’t affected banging on about immigration. What a mess.

Probably because he didn’t bang on about the cold light of fiscal doom and misery.

Smoothopera · 29/10/2024 12:46

Weird. Did Kwateng’s budget cause so much angst ? Pensioners literally lost millions because of the damage to the economy, mortgages shot up. It beggars belief the fear mongering. And then you’ve got the drone of certain notorious posters who really aren’t affected banging on about immigration. What a mess.

Evilartsgrad · 29/10/2024 12:21

StarDolphins · 28/10/2024 18:46

You were also a noisy and at times rude ‘14 years of tories/tory bot’ Labour supporter. Makes you no more superior.

We are all entitled to our opinions. If mine aren’t the same as yours, that’s ok👍

Edited

Why do people who bang on about how entitled they are to their opinions so often a) wrong as to facts b) smug comfy Tories?

coffeeandteav · 29/10/2024 08:36

Christmaschristingle · 29/10/2024 07:31

@coffeeandteav obviously it's just someone's opinion but they believe they deliberately went for a vulnerable group to show financial powers that be that UK means business!!

I kmow pensioners that should never have had that fuel allowance, however I also know some right on that cusp who are worried because the cap has gone up as well.

Totally agree with the last bit. The cut off needs to be a lot higher.
As someone on just state pension less than 1k pcm will not get it.

Christmaschristingle · 29/10/2024 07:31

@coffeeandteav obviously it's just someone's opinion but they believe they deliberately went for a vulnerable group to show financial powers that be that UK means business!!

I kmow pensioners that should never have had that fuel allowance, however I also know some right on that cusp who are worried because the cap has gone up as well.

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