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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:
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MarvellousMariella1 · 29/10/2024 07:12

I don't really mind. There is this black hole. And to be fair, I agree that passive income isn't working.

Noras · 29/10/2024 06:31

dollopofsauce · 28/10/2024 17:03

Is that because being paid in dividends is a tax loophole? It certainly was when my DH had a limited company many years ago and paid himself in dividends. I've known many people do this over the years.

It’s because the company already pay corporation tax so the basic rate of tax on the dividend of once was considered already paid. That was abolished and there is now a 8% and 32% rate plus corporation tax on top.

SassK · 29/10/2024 06:07

It's 'just' a budget. My hope is that it'll prove to be comprehensive, and the OBR review released on Wednesday will also steady confidence jitters.
The Truss debacle has made people more apprehensive about budgets. Reeves isn't foolhardy, she's not a Truss esque maverick out to rip up the rule book, so this budget could (should) improve overall confidence.
Theres not going to be anything earth shattering - she's not raising income tax and she's not reversing the cut in employee NI. My hope is that this budget will be the start of an enduring confidence from the markets, and interest rates edge steadily downwards.

coffeeandteav · 29/10/2024 05:19

Christmaschristingle · 28/10/2024 21:49

Someone else on another thread reckons they went to for pensioners to show how tough they are to people abroad? It beggars belief, it's what the mafia and ocg do!!

Edited

What a load of bull.

25 percent of pensioners have a million pound asset. They are the richest generation. It was always going to go.

I think the cut off should be higher absolutely but Mafia tactics. Blush

Neurodiversitydoctor · 29/10/2024 04:59

AdviceNeeded2024 · 28/10/2024 15:14

I’d like to see someone come up with an actual detailed plan (carried out by people who have relevant experience and knowledge) of how they are going to sort out the NHS in its entirety instead of throwing billions at it constantly with no clear plan for total reform.

Sort out the NHS in it's entirity ? Totally unrealistic. Make it function a bit better for most people most of the time ? Might be possible.

EasternStandard · 28/10/2024 23:16

cardibach · 28/10/2024 23:11

Overall for a few months? Like I said. Weather dependent. There’s no policy change to explain it (Rwanda wasn’t deterring anyone).
How do you feel about the backlog which is costing a fortune?

The ‘smash the gangs’ policy is causing more deaths - look up Amnesty International response on it and numbers per boat plus how much flimsier they are. This makes them unsafer. Demand is also up and profits.

It’s all talked about if not ignored. ‘Weather dependent’ is ignoring the above.

cardibach · 28/10/2024 23:11

Overall for a few months? Like I said. Weather dependent. There’s no policy change to explain it (Rwanda wasn’t deterring anyone).
How do you feel about the backlog which is costing a fortune?

EasternStandard · 28/10/2024 23:04

cardibach · 28/10/2024 22:55

Numbers are up and down month by month. It’s large.y weather dependent, as I’m sure you know.
The bigger issue is the backlog of assessment processing the Tories left.

It is up overall, as are deaths. It’s policy. Oddly the latter barely gets coverage

Amazing the normalisation that some seem ok with

Garlicnaan · 28/10/2024 22:58

Christmaschristingle · 28/10/2024 21:39

@Garlicnaan way worse compared to what?.. Blair famously didn't do any counting in when we were hit by the working restrictions dropped period.

Way worse than it needed to be.

By slowing down / defunding the processing of asylum seekers.

Leading to the many more overcrowded hotels etc full of them, and subsequently leading to more unrest.

cardibach · 28/10/2024 22:55

Numbers are up and down month by month. It’s large.y weather dependent, as I’m sure you know.
The bigger issue is the backlog of assessment processing the Tories left.

EasternStandard · 28/10/2024 22:51

cardibach · 28/10/2024 22:41

Not illegal immigrants, no. By definition we don’t know the numbers and they don’t cost anything.

The pp used the term however it’s easy to understand what their post meant. you have already corrected in your post so you do know

The cost from channel crossings is high and increasing, and deaths are going up. Have you noticed?

dollopofsauce · 28/10/2024 22:45

Christmaschristingle · 28/10/2024 21:49

Someone else on another thread reckons they went to for pensioners to show how tough they are to people abroad? It beggars belief, it's what the mafia and ocg do!!

Edited

Just because someone on the other thread reckons that to be true doesn't actually mean that it is!

cardibach · 28/10/2024 22:41

EasternStandard · 28/10/2024 18:35

They must be costing a lot due to the higher numbers crossing the channel?

Not to mention the increased deaths due to riskier passage

Not illegal immigrants, no. By definition we don’t know the numbers and they don’t cost anything.

Clavinova · 28/10/2024 21:50

cardibach
the Tories were set to remove [the bus cap] completely

Not according to this;

June 2024

A plan to extend the £2 cap on bus fares in England have been announced in the Conservative manifesto.

The document commits to maintaining the scheme for the entirety of the next Parliament.

It stated this would benefit “young people and low-income households”, and would be funded by “reform of the railway which will save up to £1.5 billion annually”.

https://www.standard.co.uk/news/politics/london-tories-conservative-party-parliament-england-b1163628.html

Christmaschristingle · 28/10/2024 21:49

Someone else on another thread reckons they went to for pensioners to show how tough they are to people abroad? It beggars belief, it's what the mafia and ocg do!!

EasternStandard · 28/10/2024 21:48

Christmaschristingle · 28/10/2024 21:40

The humility and kindness of the "we will tread lightly on your lives" speech.

.

New polling today shows you are not alone @Christmaschristingle, these threads don't really show it

EasternStandard · 28/10/2024 21:43

BIossomtoes · 28/10/2024 21:38

Yes. They’re the Tories’ figures. Processing was virtually non existent in the first half of the year.

Are you aware people are crossing the channel in boats?

Christmaschristingle · 28/10/2024 21:40

The humility and kindness of the "we will tread lightly on your lives" speech.

.

Christmaschristingle · 28/10/2024 21:39

@Garlicnaan way worse compared to what?.. Blair famously didn't do any counting in when we were hit by the working restrictions dropped period.

BIossomtoes · 28/10/2024 21:38

EasternStandard · 28/10/2024 21:34

Tories actively made immigration / asylum situation WAY worse too, by slowing down processing. So that's going to take a lot of cash to sort out.

Have you seen the figures lately?

Yes. They’re the Tories’ figures. Processing was virtually non existent in the first half of the year.

Christmaschristingle · 28/10/2024 21:37

The media missives are ramping up and up and up! The doom!!..

I think they are disgusting.
I've lived through 2006 crash, covid, Ukraine crisis and in dreading thid budget more than anything at any other time

We will tread lightly on your lives...

EasternStandard · 28/10/2024 21:34

Garlicnaan · 28/10/2024 21:32

This. Better off doesn't just mean what's in our pocket. It means the state of the country too.

I'm shocked at the ignorance of posters thinking previous Govts have been throwing money at schools... Where does this absolute hogwash come from?! Schools are massively underfunded per capita in real terms compared to how they were in the last Labour govt.

Ditto the NHS.

Tories actively made immigration / asylum situation WAY worse too, by slowing down processing. So that's going to take a lot of cash to sort out.

Tories actively made immigration / asylum situation WAY worse too, by slowing down processing. So that's going to take a lot of cash to sort out.

Have you seen the figures lately?

EasternStandard · 28/10/2024 21:33

KnittedCardi · 28/10/2024 21:06

They're the ones with the money. Have you not heard of the incentives for millionaires to move to Italy or Portugal, or Greece. Ten thousand high wealth individuals have already gone.

It's odd how people are unaware and 'ROTFL' etc

Garlicnaan · 28/10/2024 21:32

BlossomToLeaves · 28/10/2024 12:59

I would feel "better off" if there were sensible plans for the NHS, especially general practice; schools, social care, decent amounts for councils, etc.

I know there will be tax rises in less obvious ways, and that I will end up paying more one way or the other, but I'm most interested in whether the money will be directed in a way that will increase the benefits I feel from those increases. That is what would make me feel "better off" rather than the actual amounts I have to pay for things.

And some of the things they could do (e.g., allowing surgeries to hire actual GPs with the money already given to them!) wouldn't even cost them much. But I don't think that sort of thing is going to be discussed in the budget.

This. Better off doesn't just mean what's in our pocket. It means the state of the country too.

I'm shocked at the ignorance of posters thinking previous Govts have been throwing money at schools... Where does this absolute hogwash come from?! Schools are massively underfunded per capita in real terms compared to how they were in the last Labour govt.

Ditto the NHS.

Tories actively made immigration / asylum situation WAY worse too, by slowing down processing. So that's going to take a lot of cash to sort out.

lifeturnsonadime · 28/10/2024 21:30

Tiredalwaystired · 28/10/2024 21:04

Again, inclusion is inclusion. You don’t get to pick the bits you like

So rainbow zebra crossings are a good use of tax payers money in a struggling NHS?

Because 'inclusion' we need to let the males know they are welcome to trample over women's rights in an NHS setting.

Mind blowing.