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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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mummymeister · 28/10/2024 15:23

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.

thats just it though isnt it in a nutshell. it actually needs someone with the bottle to say that this is an outdated system past its sell by date and we need to build something better from the bottom up with a blank sheet of paper. and if that upsets workers in the NHS tough shit because you have literally had YEARS to get your house in order and you havent.

but thats not going to be Labour is it. they are going to throw millions at it and still you wont have a named gp, or be stuck in a queue waiting for an appointment just to make an appointment to see someone, operating theatres will sit empty for most of the time, those that can pay will go private, those that cant will get ever decreasing health care and thousands upon thousands of old people whose only illness is to be old will be lying in beds in hospitals.

Next election dont be surprised if Reform get in because people are crying out for massive, earth shattering change not throw a cheque at it.

Nothatgingerpirate · 28/10/2024 15:22

MasterBeth · 28/10/2024 10:17

One of the least satisfactory aspects of all this is the way Rachel Reeves and her colleagues seem to be enjoying all this. They are gloating.

What a load of shite

Yes, you just literally wrote a load of shite.

These bastards are like feral children in a sweet shop.
Well, I didn't vote for them and very fortunately they cannot do much damage to my husband and myself 👍

larkstar · 28/10/2024 15:20

FGS just wait for the facts. Very few decisions have no downsides. You have to look at the big picture. A lot of politics, political debate and threads like this are about generating more heat than light: such drama!

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.

valueyourself · 28/10/2024 15:14

@Cartwrightandson

They all seem entirely reasonable things to tax . Especially when you realise the the massively uneven distribution of wealth in this country .

I have a 'gold plated' pension
Savings
A good p/t job

I think people like me with the 'broader shoulders' absolutely should be taxed more . We got the good pensions , the free university... time for us to put something back into the public sector so that it's good for our grandchildren.. can't do that on beans . Time to pay up .

KoalaCalledKevin · 28/10/2024 15:12

NotOneOfTheInCrowd · 28/10/2024 15:06

I think it’s pretty much universally accepted that it wont be the 1st of January because of the logistics surrounding the implementation of VAT rules.

The accepted period for that now seems to be September of next year. <not interested in the private school VAT debate>, this is about logistics rather than that.

Really? Isn't it getting a little late to change that? Are they likely to say "whoops, jumped the gun, it's now September" when it's 2 months away?

That must be an absolute last last resort for them.

Locutus2000 · 28/10/2024 15:12

Cartwrightandson · 26/10/2024 19:45

From what I've heard, social housing rents might be means tested and households with higher income might pay more. I could be wrong, 🤔 😔

Any source on social housing rents being means tested?

Because there's nothing on the internet about it.

Rent however will be increasing above inflation.

Menopausemayhem · 28/10/2024 15:08

CanalBoots · 28/10/2024 14:11

The people who accused Labour of thinking there was a magic money tree are now shitting themselves because Labour know there's no magic money tree.

this!!!

Superworm24 · 28/10/2024 15:07

NotOneOfTheInCrowd · 28/10/2024 13:38

They should start with Ukraine and the foreign aid budget.

Far too much foreign aid gets pissed up the wall by corrupt governments and the people it’s intended for never even get to see it.

Frankly the idea that billions is being given to Ukraine while people here are being expected to lose out to the tune of those billions is disgraceful.

Charity begins at home as they say.

High time we started looking after our own rather than sending so much money abroad.

It's far cheaper than going to war with Russia ourselves.

Ginmonkeyagain · 28/10/2024 15:06

@KnittedCardi Your husband retired early with no pension or investment income?

NotOneOfTheInCrowd · 28/10/2024 15:06

I think it’s pretty much universally accepted that it wont be the 1st of January because of the logistics surrounding the implementation of VAT rules.

The accepted period for that now seems to be September of next year. <not interested in the private school VAT debate>, this is about logistics rather than that.

KnittedCardi · 28/10/2024 15:06

Well, as we have been worse off after every single budget since the 1990's, I expect no less this time. Over the years we lost: mortgage tax relief, married persons allowance, child benefit. As a single earning, higher paid family, we were always going to be screwed.

Never mind.... DH has retired early, we now have zero income, the juice is no longer worth the squeeze, as they say. Lots and lots of his cohort are doing the same.

Ginmonkeyagain · 28/10/2024 15:05

Well we had to renew our mortgage deal days after the Truss/Kwarteng budget. So...... still paying for that one.

mummymeister · 28/10/2024 15:05

no point worrying I am just accepting its an inevitability when you have a Labour government. I just dont think increasing spending on schools and hospitals is the right thing to do. we have been throwing money at them for years and they have got worse because the extra money, the extra resources arent tied to anything are they. I dont want more money spent here I really, really dont. But I know that Labour think we will all be saying oh good an extra x million to health but will we? the idea that someone who runs a property business isnt a working person but someone on benefits who doesnt work is, is just completely bonkers. I am counting down the days to the next election personally.

1753 days and counting!

RedRidingGood · 28/10/2024 15:01

NotOneOfTheInCrowd · 28/10/2024 13:38

They should start with Ukraine and the foreign aid budget.

Far too much foreign aid gets pissed up the wall by corrupt governments and the people it’s intended for never even get to see it.

Frankly the idea that billions is being given to Ukraine while people here are being expected to lose out to the tune of those billions is disgraceful.

Charity begins at home as they say.

High time we started looking after our own rather than sending so much money abroad.

I agree with this!

GhosterPoster · 28/10/2024 14:58

RobinStrike · 28/10/2024 14:25

Is anyone in a panic over the proposed extra spend on schools and hospitals? The increase in house building ? You can’t have one without the other. I know which I’d rather have.

Yep, tax cuts

commonsense61 · 28/10/2024 14:54

This reply has been withdrawn

This has been withdrawn by MNHQ at the poster's request.

lifeturnsonadime · 28/10/2024 14:41

RobinStrike · 28/10/2024 14:25

Is anyone in a panic over the proposed extra spend on schools and hospitals? The increase in house building ? You can’t have one without the other. I know which I’d rather have.

I think I would like to know how they intend to spend the money.

Less on EDI projects and more on actual health care and education would be good.

So much waste already, imagine a group of nurses having to sue the NHS trust they work for because they don't take seriously the fact that they are subject to voyeurism at work because the man involved says he's a woman.

Horseracingbuddy · 28/10/2024 14:37

I realise I'm very fortunate and have paid off my mortgage so feel OK about paying more tax, IF we as a country get the economic growth we need and there is investment in public infrastructure and services.

DreamingDaisies · 28/10/2024 14:30

Cartwrightandson · 26/10/2024 19:45

From what I've heard, social housing rents might be means tested and households with higher income might pay more. I could be wrong, 🤔 😔

That's been proposed for years, in fact it was an option for housing associations for a while but it was so complex to administer that very few managed it. It sounds nice as a headline but unlikely to come in.

Social rents continuing to go up by CPI plus 1-2% per year seems most likely, which is where it's been for a while anyway.

CanalBoots · 28/10/2024 14:29

The Daily Mail has been an absolute joke with their constant Labour rubbishing headlines. The hysterics and nonsense they've spouted, including from their 'columnist' Boris Johnson, has shown them to be the hyperbolic snowflakes and remoaners they've been busy denegrating this last 10 years.

Singinginthespring · 28/10/2024 14:28

NotOneOfTheInCrowd · 28/10/2024 13:38

They should start with Ukraine and the foreign aid budget.

Far too much foreign aid gets pissed up the wall by corrupt governments and the people it’s intended for never even get to see it.

Frankly the idea that billions is being given to Ukraine while people here are being expected to lose out to the tune of those billions is disgraceful.

Charity begins at home as they say.

High time we started looking after our own rather than sending so much money abroad.

Ukraine though, we are only giving money to Ukraine as them having firepower protects us. They are shielding us. Looks like Trump is going to get in, and he doesn’t give a shit about Europe. If Putin has decided he wants to pick off European countries it could be us he gets to at some stage. Don’t you think it’s better that we help Ukraine out now? We aren’t giving them lots of equipment out of the goodness of our heart, we really aren’t!

KoalaCalledKevin · 28/10/2024 14:25

Fizbosshoes · 28/10/2024 14:12

The bus fare cap is rising from £2-3 according to BBC news

Means testing anything is expensive to set up and administer, which is why there was a blanket rule for the winter fuel payments.

To be fair it was due to end in December. So actually while it is rising, it's also an unexpected continuation of the cap.

RobinStrike · 28/10/2024 14:25

Is anyone in a panic over the proposed extra spend on schools and hospitals? The increase in house building ? You can’t have one without the other. I know which I’d rather have.

pinotnow · 28/10/2024 14:22

Never has a budget been preceded by so much panic and speculation whipped up by the media. It's absolutely ridiculous and people need to stop falling for it.

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