Another budget one. Sorry.

And if you’re let go?

Couldn’t have said it better than this. And there are enough ignorant posts already where people believe they are not affected because they’re not ‘wealthy’ and delighted that richer are affected.

So many disastrous consequences which are going to hit those with the least hardest in the long term - sadly they’re mostly too short sighted to see it

I think it's a good budget.
I'm an average earner, DH a high earner and we will basically stay the same-zero changes.
I think they probably put the NI increase onto businesses after the tories tried to bribe voters/scupper prospective Labour government by cutting employees NI contributions just before General Election - The country couldn't afford this so they've had to plug that gap the tories left.

I can’t believe how naive some people are. Of course the budget will affect you. Slower growth. Interest rates. Mortgage anyone? The GP’s, farmers thread yesterday explaining how that will impact them. Every business that employs people will have to consider losing staff, cutting raises, raising costs to be passed on.

Things are going to get a lot more expensive and unemployment will go up. More people will claim benefits. The huge amount of borrowing like never before will affect every decision that is made long after we’ve gone.

The decision to not bring in household income for child benefit will hit single earners.

Lowering the threshold for so many things.

You will be tax more whether directly or by stealth. Crazy to think it won’t affect you.

Why is rising taxes where the majority of cost will be passed on to employees the 'broadest shoulders'?

And aside from the fact that people who do run small businesses work, why aren't those employees 'working people'

Exactly

I am delighted there is a serious cash backed commitment to investment in our public services - it is long overdue. We need the basic infrastructure of this country to work again. If my wages are depressed over the longer term, so be it. It needs to be funded from somewhere.

The richest people are the ones who will be most affected by this budget. They’re also the people who own all the media in this country…
I don’t think it’ll affect me at all, and I look forward to the results of increased funding for public services.

Nor will their employees.

Tbh it was teed up and presented as affecting those with the broadest shoulders. I don’t know what people expected from a Labour government but it is classic tax and spend, given their manifesto then asset taxes were inevitable. They were elected saying that they wouldn’t increase income tax

I don’t think they really hid what was intended. The IMF have just approved it and the country needs a lot of investment. If it works then Reeves will be in line to be the next PM.

Yep.

"The government is also developing a strategic plan for a more efficient and
effective civil service, including through improving skills and harnessing digital
technology to drive better outcomes for public services"

But OP will be safe. It is usually the older more expensive (and experienced) staff who get culled.

I'm personally unaffected but my children will pay about £1 million more in inheritance tax when my husband and I die. To be honest, I don't begrudge Labour it - if my kids are lucky enough to be left £2 million in pensions they should pay some IHT on it.

Didn't realise anyone in the civil service earned NMW how awful. Surely the pension isn't worth the shit wage?

The real issue is that the country is in a bag load of trouble. Brexit and the Trussterfuck along with 14 years of cuts to public services have damaged our economy considerably.

Whilst rates of taxation are higher for us than they have ever been, they are still lower than many other European equivalent countries. Public services need to be paid for after all.

I agree with PPs that some of the changes made yesterday are not fully understood by the masses yet, however for me, it is one thing to raise additional funds, but it is quite another to administer them properly. In principle, I don't disagree with paying more tax if, and it's a big 'if', they are administered efficiently.

The jury is still out on whether that will happen, we will have to watch and see whether waiting lists really do reduce, and whether more housing is built etc.

Interesting that the OBR and the IFS both state that short term growth is likely to be up, but long term less so unless the administration of newly created funds is invested wisely.

Well they won an election by banking on that

Another one who doesn't actually understand the budget and that it will indeed impact them - but just by stealth.

But you can set up a direct debit each month to voluntarily pay more tax and you can choose which department the money goes to. If you are happy to pay more tax then the mechanism is there to enable you to do it.

I might be affected as employers in retail and hospitality might decide to cut hours. Also the AET in UC will be increased I think which will mean being pushed to do more hours when there isn't any.

Train fares due to rise:

Regulated train fares in England are to increase by 4.6% next year, while the price of most railcards will rise by £5, the government has announced.
The increases were not mentioned by the chancellor in her Budget speech to the House of Commons earlier on Wednesday, but it was instead noted in the Treasury's budget document.

This is the bit that irks me. I am quite happy to pay increased tax, if I thought that the money would be well spent and we would all see actual improvement. But I don't actually trust ANY government to deliver on the promises they make and actually spend money wisely and effectively.

Absolutely.

And it seems to be working.

That’s the worry.

Unemployment rising will add billions to the welfare budget.

Tell me you didn't understand the impact of the budget without telling me you don't understand the impact of the budget!

I'll have to pay VAT on school fees but otherwise won't feel anything immediately. I will have to make cutbacks but we are are high earners so fair enough.

I am happy to pay more providing I see an improvement in public services, so I'll reserve judgement until the end of the parliament.

There's no way prices for goods and services won't rise.
Unless they outsource to cheaper countries. We will haemorrhage jobs.