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Original poster

To want a budget which puts young people and families first

385 replies

HFJ · 28/10/2024 19:59

In advance of an upcoming budget that will likely hammer working people (again, despite the rhetoric), I’m consoling myself by imagining my own budget. You’ll notice a theme. This is because I believe young people and families are the future, deserve to have hope, aspirations and goals. Please feel free to contribute.

  1. The first 5 years of young people’s full time earnings to be tax and NI free. This would enable all to save for a house deposit, rather than only the few who inherit. Imagine the incentive to work hard!
  2. No increases to any tax that primarily affects working age people, including fuel tax (because working people need fuel to go to work)
  3. No stamp duty for young people and those with children under 18. This enables them a fairer chance of buying property rather than have to compete unfairly with cash buyers
  4. Complete removal of the pension tax free cash allowance. This is because 100s of 1000s are poised to take their 25% lump sum and plough this into the property market (tbf I think the gov has got wind of this, hence the landlord tax changes)
  5. instead of massive increases to NHS budget (which does not really benefit the young or families), a £10 charge to see the doctor, so people start to take ownership for their health
  6. Removal of the free prescription for over 60s. Instead, use this money to bring back the school nurse and perhaps even school dentist visits

Any other ideas?

OP posts:
YellowAsteroid · 29/10/2024 08:53

I'll tell you what @HFJ you can have your ageist and lacking-in-insight to life cycles budget, but only if:

  • any woman who wants to have a child passes an IQ test and is deemed at least 10 points above the median
  • any woman wanting State support of any sort for her conception, pregnancy, birth, and child's support and schooling, can show she's been a nett contributor to taxation income for at least 5 years before becoming pregnant ie she has a decent job
  • all men have vasectomies and store their sperm at the age of 15, so that there can be no "accidental" pregnancies

I am sick of my taxes and really long hours & hard work over the last 40 years going to feckless men and women who think that reproducing is some sort of prize that I should e grateful for.

Unreasonable ? Yes of course. But your requirements are even more so.

Just wait until you're 67.

TwinklyOrca · 29/10/2024 08:48

HFJ · 28/10/2024 19:59

In advance of an upcoming budget that will likely hammer working people (again, despite the rhetoric), I’m consoling myself by imagining my own budget. You’ll notice a theme. This is because I believe young people and families are the future, deserve to have hope, aspirations and goals. Please feel free to contribute.

  1. The first 5 years of young people’s full time earnings to be tax and NI free. This would enable all to save for a house deposit, rather than only the few who inherit. Imagine the incentive to work hard!
  2. No increases to any tax that primarily affects working age people, including fuel tax (because working people need fuel to go to work)
  3. No stamp duty for young people and those with children under 18. This enables them a fairer chance of buying property rather than have to compete unfairly with cash buyers
  4. Complete removal of the pension tax free cash allowance. This is because 100s of 1000s are poised to take their 25% lump sum and plough this into the property market (tbf I think the gov has got wind of this, hence the landlord tax changes)
  5. instead of massive increases to NHS budget (which does not really benefit the young or families), a £10 charge to see the doctor, so people start to take ownership for their health
  6. Removal of the free prescription for over 60s. Instead, use this money to bring back the school nurse and perhaps even school dentist visits

Any other ideas?

And how will you feel when you reach 60s 😂

BettyBardMacDonald · 29/10/2024 08:45

Well said, @NetZeroZealot !!!!

NetZeroZealot · 29/10/2024 08:37

HFJ · 28/10/2024 19:59

In advance of an upcoming budget that will likely hammer working people (again, despite the rhetoric), I’m consoling myself by imagining my own budget. You’ll notice a theme. This is because I believe young people and families are the future, deserve to have hope, aspirations and goals. Please feel free to contribute.

  1. The first 5 years of young people’s full time earnings to be tax and NI free. This would enable all to save for a house deposit, rather than only the few who inherit. Imagine the incentive to work hard!
  2. No increases to any tax that primarily affects working age people, including fuel tax (because working people need fuel to go to work)
  3. No stamp duty for young people and those with children under 18. This enables them a fairer chance of buying property rather than have to compete unfairly with cash buyers
  4. Complete removal of the pension tax free cash allowance. This is because 100s of 1000s are poised to take their 25% lump sum and plough this into the property market (tbf I think the gov has got wind of this, hence the landlord tax changes)
  5. instead of massive increases to NHS budget (which does not really benefit the young or families), a £10 charge to see the doctor, so people start to take ownership for their health
  6. Removal of the free prescription for over 60s. Instead, use this money to bring back the school nurse and perhaps even school dentist visits

Any other ideas?

I’ll tell you what’s wrong with every one of your ideas.

  1. Some graduate training schemes in law & finance are paying salaries over £50k. Should they not pay tax & NI? NI is a contribution to your future pension, of course you should pay it when you start work.
  2. Climate change. We need to stop subsidising carbon intensive lifestyle choices. Fund better public transport & cycling & walking routes instead.
  3. Stamp duty should be limited by value of property not age of the buyers. If you ban it will just encourage more house price inflation which will make it even harder to get on the property ladder.
  4. so you want to go back to the days when people were forced to buy an annuity? no idea where this idea that rich pensioners are all investing in property comes from. DH is using his lump sum to finally pay off the remainder of our mortgage.
  5. Don’t kids get sick quite often? We will all benefit from an increase in NHS budget. Have you tried getting a GP appointment recently. 90 year old father with severe back pain was given one in 3 weeks time. I couldn’t get one at all & have been paying privately for physio. Lucky I can afford it.
  6. Older people tend to need more medicines yet have lower incomes if they are retired. DH is on statins & blood pressure meds. Keeping him well & saving NHS money in the long run. If there was proper investment in the NHS there would be no need for school nurses.
renovating · 29/10/2024 08:21

One thing I wish the government would do would be to do something radical about absent fathers who don't pay child support.

KimberleyClark · 29/10/2024 08:20

No stamp duty for young people and those with children under 18. This enables them a fairer chance of buying property rather than have to compete unfairly with cash buyers

So people who would have liked to have children but couldn’t, or who are struggling to have them, get hammered with higher housing costs as well?

Mlanket · 29/10/2024 08:19

Do people who are resentful of the state paying for things disagree with council housing and pension credit?

Mlanket · 29/10/2024 08:18

Not one of the ‘special ones’ thinking you can produce children you can’t afford and have the state pay.

less people do that now hence the fall in birth rates

Sethera · 29/10/2024 08:17

redorangeye110w · 29/10/2024 07:57

But this already happens. People have little things that need looking into and put it off as there is a six week wait for a non urgent appointment.

So people either don't bother or book it and forget

Show quote history

Quite. I was supposed to have a phone appointment last week that I'd waited four weeks for - the call never happened. Rang the next day, they apologised and re-booked it for six weeks' time. I did protest but as it was classed as non-urgent, they couldn't do anything.

Sunshineandrainbow · 29/10/2024 08:16

Laserwho · 29/10/2024 07:33

There shouldn't be a £10 charge for doctors. If there was any people would avoid going because they carnt afford it which would lead to cancer not being detected and other serious health conditions which could have been prevented if picked up early. Scrapping free prescriptions for retired people would put people in a position where they carnt afford the medication. My father needs 8 prescriptions a month to live, my mother 5. They already struggle, your suggestion OP is inhuman.

People over 60 get free prescriptions.
Most people don't retire till they are over 65?
If people are on lots of medication they can by a prepayment certificate for £114.00 which lasts a year.

itslikecakesbutitsnotcakes · 29/10/2024 08:16

Tumbleweed101 · 28/10/2024 20:28

A budget that looked at helping youngsters with housing would be amazing. Especially those who won't inherit or have family financial support.

I have a 24yo in full time work who can't afford to rent or buy on a single wage. Even a studio here is over half her wages if privately renting. I have a council property and have raised her on a low income as a single parent. I have nothing to give her to help her. I love her being here even though we clash on how we want the house to be but I'm also sad that she's still stuck with a parent and unable to start a life of her own.

It was the same when I was 24 which was 26 years ago.

I had no option to stay at home so I had to share a flat with 3 others. It cost me well over half my wages too. Thats fairly standard and has been for at least 2 generations.

Pottedpalm · 29/10/2024 08:09

@HFJ
You will be old yourself too, you know. Not one of the ‘special ones’ thinking you can produce children you can’t afford and have the state pay.

Mlanket · 29/10/2024 08:07

Have you missed the part where alot of pensioners can either heat the house or eat but carnt do both, and many struggle to do even that. So no they carnt afford the annual certificate.

Im sure some can’t but plenty can although of course they will resent paying for it.

hattie43 · 29/10/2024 08:07

No one will get what they want , there just isn't enough money to go around . Those working or have worked are having to prop up those who've never worked and id like that inequality resolved .

Mlanket · 29/10/2024 08:06

@TigerRag again I’m aware of that.

redtrain123 · 29/10/2024 08:04

I’d like a budget that doesn’t squeeze the middle.

distinctpossibility · 29/10/2024 08:03

Gall10 · 28/10/2024 22:05

Inheritance to be taxed at 99%….after all its unearned income.

Hmm, but what about people like my husband who lost both his parents when he was 18 and a few months (doing his A levels)? Should he not have been allowed to stay on in their family home? You can't make blanket rules that will work for everyone, it's a "best fit" scenario.

TigerRag · 29/10/2024 08:03

Mlanket · 29/10/2024 07:32

@Jollofoldmaninaredsuit Im aware of that, I meant housing would need to be included in the assessment as opposed to just savings.

Houses you own but don't live in are included in the assessment

Laserwho · 29/10/2024 08:00

Yes, as it would be for a high number of pensioners. Have you missed the part where alot of pensioners can either heat the house or eat but carnt do both, and many struggle to do even that. So no they carnt afford the annual certificate.

Mlanket · 29/10/2024 07:59

I’m really bad at going to the doctors because it’s such a faff, I would pay £10 if it made the service better. I have gone private for dental because that way I can actually get a convenient appointment!

redorangeye110w · 29/10/2024 07:57

Laserwho · 29/10/2024 07:33

There shouldn't be a £10 charge for doctors. If there was any people would avoid going because they carnt afford it which would lead to cancer not being detected and other serious health conditions which could have been prevented if picked up early. Scrapping free prescriptions for retired people would put people in a position where they carnt afford the medication. My father needs 8 prescriptions a month to live, my mother 5. They already struggle, your suggestion OP is inhuman.

But this already happens. People have little things that need looking into and put it off as there is a six week wait for a non urgent appointment.

So people either don't bother or book it and forget

Mlanket · 29/10/2024 07:57

And plenty of people still don’t want to pay for their care.

Mlanket · 29/10/2024 07:56

In terms of inheritance tax - you need people to save so they can pay for their own elderly care. If you make inheritance tax punitive people with something to leave will give it away years in advance,

Thats not really true as most people don’t even qualify for IHT plus the majority of it is tied up in housing hence why the average age people inherit is quite old.

Westfacing · 29/10/2024 07:55

a budget which puts young people and families first

You speak like a politician - the above statement means nothing in real terms and similar to 'levelling-up' 'the left behind' 'strivers' 'the squeezed middle', etc.

It's just a way of sowing division and resentment, of which we have enough as it is.

TimTamTime · 29/10/2024 07:54

Pension changes are complex and need to be well thought through- if you tax people twice they will simply save in other ways (ISA for example) which buggers the big pension providers - who are huge investors, for example Thames Water is part owned by the university pension scheme. Collapsing the pension industry is a terrible idea and that's the risk you run.

In terms of inheritance tax - you need people to save so they can pay for their own elderly care. If you make inheritance tax punitive people with something to leave will give it away years in advance, with the potential for the state to then be liable for their care.

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