Please or to access all these features

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Another budget one. Sorry.

307 replies

photodiva · 31/10/2024 09:03

I keep seeing posts about how this budget will be so bad for us all, am I the only one who won't be (personally) directly affected? Or at least, in a negative way?

I get the issues around businesses and NI but I am a civil servant.

I will get a pay rise! Yep, you read that right. I earn NMW so my wages will go up.

And I don't have a 'gold plated ' pension.

I totally get there will be a lot affected but I can't be the only one who benefits can I?

OP posts:
GrannyRose15 · 01/11/2024 23:13

photodiva · 31/10/2024 09:03

I keep seeing posts about how this budget will be so bad for us all, am I the only one who won't be (personally) directly affected? Or at least, in a negative way?

I get the issues around businesses and NI but I am a civil servant.

I will get a pay rise! Yep, you read that right. I earn NMW so my wages will go up.

And I don't have a 'gold plated ' pension.

I totally get there will be a lot affected but I can't be the only one who benefits can I?

No there are lots of people who are unaffected. Mainly public sector workers with secure jobs and decent pensions. It’s the rest of us that won’t get pay rises and whose pensions are losing value by the minute.

Properjob · 01/11/2024 22:25

Mrsgreen100 · 01/11/2024 21:26

Businesses, small and large are at the heart of any good health economy. Yes it will affect everybody because the costs will be passed on to each and every one of us.

Oh FFS. Small businesses have an increased exemption threshold so many of them will be better off. Lidl and Aldi will now pay NI, hurray!! And family farmers will not be affected, they can be exempt up to over 3m, it's only the wealthy ones like Clarkson who is quoted as buying his £4.5m farm to 'save on IHT' whose estate will at last cough up. And of course land preserved under environmental rules is protected. Plus of course all development now has to demonstrate enhanced biodiversity under planning rules brought in by the Tories already. Try reading something beyond the Daily Heil headlines...

joles12 · 01/11/2024 21:59

photodiva · 31/10/2024 09:03

I keep seeing posts about how this budget will be so bad for us all, am I the only one who won't be (personally) directly affected? Or at least, in a negative way?

I get the issues around businesses and NI but I am a civil servant.

I will get a pay rise! Yep, you read that right. I earn NMW so my wages will go up.

And I don't have a 'gold plated ' pension.

I totally get there will be a lot affected but I can't be the only one who benefits can I?

This budget will hurt everyone - a £25bn a year increase in employers NI will have to be passed on to consumers - as will the increase in NMW - and that includes you. The hit to interest rates means mortgage rates will stay higher for longer - affecting everyone that has a mortgage . The pain has only just begun but it will hit everyone

Mrsgreen100 · 01/11/2024 21:26

Businesses, small and large are at the heart of any good health economy. Yes it will affect everybody because the costs will be passed on to each and every one of us.

Crimson5 · 01/11/2024 18:52

We will be paying for these NI increases, wage rises etc in higher prices as cost passed on. Jobs will go too.

ChardonnaysBeastlyCat · 01/11/2024 18:36

Not everyone.

Developers will be happy when the land is sold off.

Labour won’t rest until everything is concreted over. We’ll relying even more on food imports and sod climate change and Green commitments.

twistyizzy · 01/11/2024 18:34

Perky1 · 01/11/2024 18:28

Everyone will lose out as family farms are taken over by investors. Its an awful budget for us, farmers and farm animals.

Agreed. It's almost like Labour want to auction off our food security and have us rely on imports.......OR a land grab for developers in order to hit house building targets

Perky1 · 01/11/2024 18:28

Everyone will lose out as family farms are taken over by investors. Its an awful budget for us, farmers and farm animals.

MiscellaneousSupportHuman · 01/11/2024 14:44

hamsterchump · 01/11/2024 13:55

Name a prince on £12.21 an hour.

Prince, no; princess, yes
(taking your question literally)

Well Lady Louise is a princess, though she doesn't use her royal title. And she had an unskilled job in a garden centre, and I expect that would be around NMW (at the time she was 18, so possibly £8.60 when she did it)

Yes, her family is wealthy, so that's not all she had to live on. But she did it.
And should she be treated properly by both her employers and the general public? Of course. As should all her colleagues

hamsterchump · 01/11/2024 13:55

Brananan · 01/11/2024 09:49

Also again posters demanding the UK treat their unskilled workers like princes and pay accordingly, while actually buying their shit from China, sweatshops and enslavement.

Name a prince on £12.21 an hour.

EasternStandard · 01/11/2024 12:24

LivinInYourBigGlassHouseWithAView · 01/11/2024 12:07

Yep

The country voted against its own economic interests for well over a decade, including Brexit, and watched the NHS and schools and social services get gutted while moaning about the lack of provision, and now moan that it has to be righted somehow.

Baffling but not surprising.

This is the problem currently post Labour budget and cost of debt, from another poster who summed it up well

Government debt is also around £2.8 trillion, and with money between 0.25% and 0.5% more expensive that’s another £7 to £14 billion for the treasury to find. I think the OBR is estimating £9billion? Either way, the negative impacts pretty much wipe out the £20/25 billion raised from taxing employment more.

morechocolateneededtoday · 01/11/2024 12:14

noblegiraffe · 01/11/2024 09:25

There are even fewer partially selective state secondaries in England than there are grammars.

Glad you agree that lots are lying on here about taking their kids out of private school. It has certainly annoyed me that certain private school parents have argued to keep their own kids in private school and their tax bill down by pretending that they care about the impact on state school kids, and in particular disadvantaged state school kids.

I agreed some are lying, not lots. As is the case about many things. I still fail to see why it bothers you to the extent that you argue vehemently and derail the threads about it.

Those who are have children in the private sector are about to be hit with a spite tax and are very upset and posting. If you truly believe it is going to affect the state sector so little and of minimal relevance to so many, why argue incessantly? If there is a similar thread about a topic which has such little impact on me, I just ignore no matter whether I agree with the general consensus or not. Find it odd you have nothing better to do with your life

LivinInYourBigGlassHouseWithAView · 01/11/2024 12:07

Startingagainandagain · 31/10/2024 17:47

Frankly to everyone criticising Labour and the budget what is your alternative?

We have to accept that we committed a massive act of self-harm with Brexit and then with 14 years of useless Tory government spending more than they could afford and letting the health service, schools, local council services and social care fall apart and supporting the wealthy only.

Do people really think that there ever was the possibility of a budget that woulnd't affect anyone's pockets in these circumstances?

Broadly it is a balanced budget, although I want them to go after the super rich who use clever accounting to avoid paying their fair share of tax and curb utility companies current profiteering.

Yep

The country voted against its own economic interests for well over a decade, including Brexit, and watched the NHS and schools and social services get gutted while moaning about the lack of provision, and now moan that it has to be righted somehow.

Baffling but not surprising.

Driedonion · 01/11/2024 10:17

MushMonster · 31/10/2024 14:04

I do have a pension, because it is a legal requirement.
I have never agreed to have a damn private pension. It was forced on me.

If you have a private pension then you’ll also know you can opt out of it…

EmilyEmmabob · 01/11/2024 10:16

Sarahconnor1 · 31/10/2024 09:14

Any business that can will pass on the cost, so that will be a cost to consumers, rising cost may lead to increased inflation, which impacts interest rates etc.

Those business that can't pass on the costs will scale down pay rises, recruitment and possibly need to cut jobs.

This! I'm a small business owner and we employ 9 staff, we need more staff but now need to decide if it's worth employing more staff to increase production or whether it's more cost effective to stay small and just increase our prices slightly to cover the increase. Thankfully our prices are already low and so we know increasing won't cause too much damage to trade, but hiring more staff was the original plan and I just don't know if we can withstand the increased cost of it.

Driedonion · 01/11/2024 10:04

hydriotaphia · 31/10/2024 12:27

IFS has said VAT on school fees will raise £1bn pa and 7% of kids joining state sector cost £300m pa so will be a net benefit? Also I do personally think that private school is a luxury which it makes sense in principle to tax. I do appreciate it will be hard for children to switch schools. But as an academy trustee of some schools serving some v deprived communities, I still find it hard to see those who can no longer afford private schools as victims in the big picture.

That’s assuming the same number of children remain in private education. If many leave the tax take will reduce.

Brananan · 01/11/2024 09:49

Driedonion · 01/11/2024 09:47

So what you describe then is not growth but contraction. People stop buying, businesses get smaller, profits reduce, turnover reduces, tax and VAT payable also reduces = less money in government coffers.

Also again posters demanding the UK treat their unskilled workers like princes and pay accordingly, while actually buying their shit from China, sweatshops and enslavement.

Driedonion · 01/11/2024 09:47

Startingagainandagain · 31/10/2024 10:58

'@ChardonnaysBeastlyCat
You will be affected. It just won’t appear on your payslip.
Businesses be passing on the increase on the customers.'

The 'business will pass on the increase on to customers' is a bit simplistic.

Unless a company provides something really essential, customers can vote with the feet and simply stop purchasing products and services that are 'nice to have' but not essential if businesses take this approach.

Or customers will reduce the frequency of purchase and/or amount that they buy.

so unless these business want to fold they need to be realistic in their pricing.

So what you describe then is not growth but contraction. People stop buying, businesses get smaller, profits reduce, turnover reduces, tax and VAT payable also reduces = less money in government coffers.

twistyizzy · 01/11/2024 09:46

noblegiraffe · 01/11/2024 09:40

I don't think anyone claimed that no one would leave as a result of this policy. It is certainly in some people's interests to claim a mass exodus though, therefore anecdata isn't particularly useful.

We won't have concrete data though because it simply isn't measured. ISC will hopefully start recording it now though as part of legal challenge

noblegiraffe · 01/11/2024 09:40

twistyizzy · 01/11/2024 09:27

Yet I see the numbers leaving in real life. 10% in DDs year.
Just because you don't believe people doesn't mean it isn't happening/won't happen.

I don't think anyone claimed that no one would leave as a result of this policy. It is certainly in some people's interests to claim a mass exodus though, therefore anecdata isn't particularly useful.

Whammyammy · 01/11/2024 09:39

NI rises, NMW rises... businesses will simply pass these costs on to consumers.
So where people are seeing slightly more money in their pocket each month, a noticeable increase in monthly expenditure will also be seen.

twistyizzy · 01/11/2024 09:27

noblegiraffe · 01/11/2024 09:25

There are even fewer partially selective state secondaries in England than there are grammars.

Glad you agree that lots are lying on here about taking their kids out of private school. It has certainly annoyed me that certain private school parents have argued to keep their own kids in private school and their tax bill down by pretending that they care about the impact on state school kids, and in particular disadvantaged state school kids.

Yet I see the numbers leaving in real life. 10% in DDs year.
Just because you don't believe people doesn't mean it isn't happening/won't happen.

noblegiraffe · 01/11/2024 09:25

morechocolateneededtoday · 31/10/2024 22:19

They are the minority and I wouldn’t be surprised if some have no intention to do anything about it. I’m not sure why that annoys you so much - lots lie on an anonymous forum. Even if they are making empty threats, the reality is many children moving into state sector at normal transition points are going to take up spaces at good schools which otherwise could have gone to someone with lower income.

The reality for many who choose the private schools that are on the lower end of the fee spectrum (us included) is that the outcomes are not that different to the top schools in the state sector despite the funding discrepancies (which are not always as much as you would think - fees are under £11k/year for primary pre vat). Had we moved house to guarantee a place at the local excellent primary, I believe my children would have had similar outcomes but we didn’t because of our careers - lack of wraparound and reliable childminders was a big issue.

Current school is of very high academic standard and chances of getting into a selective state secondary are good. As a result, more and more are going for part selective or highly selective (the former do not fall into the 163 figure you have quoted). This is going to be replicated across the country now

There are even fewer partially selective state secondaries in England than there are grammars.

Glad you agree that lots are lying on here about taking their kids out of private school. It has certainly annoyed me that certain private school parents have argued to keep their own kids in private school and their tax bill down by pretending that they care about the impact on state school kids, and in particular disadvantaged state school kids.

Hypermedi · 01/11/2024 08:47

Frowningprovidence · 01/11/2024 08:35

It was the only way I could piece together the income I need around a child with complex sen who attends school part time. I have to make use of evenings, weekends and have a very flexible job in the day.

I actually don't mind it as it feels like the chance of losing all the jobs at the same time is pretty unlikely. It has been am uphill struggle with hmrc though.

Thanks I just wondered, I sometimes think of doing similar I.e 2 part time jobs.

Frowningprovidence · 01/11/2024 08:35

Hypermedi · 31/10/2024 23:07

Geneuine question why do you have lots of little jobs and not just 1 job. Does it work to your advantage or is it just how you've managed to piece together the income you need?

It was the only way I could piece together the income I need around a child with complex sen who attends school part time. I have to make use of evenings, weekends and have a very flexible job in the day.

I actually don't mind it as it feels like the chance of losing all the jobs at the same time is pretty unlikely. It has been am uphill struggle with hmrc though.

Swipe left for the next trending thread