Absolutely rinsed in this budget - almost £1k a year worse off.

Good bye, good luck

Spot on. Some truly embarrassing theatrics in these replies!

We're absolutely screwed by this budget. Fortunately the pension changes don't come in until 2029 so it gives us time to move abroad which is 100% what we'll be doing.

But that's the point of a civil society, right?

The economy is in the total shitter. There isn't enough money. The govt has to raise it from somewhere. And probably makes more sense to tax those better off than push those already in poverty deeper.

Leaving aside all the issues of the need for welfare reform, NHS reform, the ageing population, etc. I don't think there's any budget she could have come up with that would actually raise money and wouldn't disadvantage someone.

The house is worth 2 million +? Council tax band rises only apply to houses of that value.

OP there are lots of us quietly reading your thread understanding exactly how you are feeling, and agreeing with you.

Obviously there are also lots of very noisy, presumably envious people here shouting at you, who want to give you a hard time about you and your DP working hard and being sensible with your money and pensions.

Ignore the histrionics in these replies. YANBU to feel the way you do.

Why aren’t the private school fees in your budget OP?

It means restored eligibility in means-tested benefits (e.g. Universal Credit / tax-credits child allowance) plus any universal child-benefit payments for the 3rd child (and possibly beyond). This is projected to be an extra 5.3k per year for families on low/no income with 3 children.

Well we earn more than op and I think her post is fucking ridiculous.

1k a year is really very little. Maybe it's a lot when earn 12k a year, but not 140k. If you don't want to pay tax or live as a part of a society piss off somewhere else. Then see how much you like it if you lose your job, or become disabled, or your child does, or the roads you travel on to get to work collapse etc etc

This. Mumsnet just hates people who are doing ok in life and can’t bear to hear a word of complaint about all these shit policies that are designed to discourage ambition and hard work, from people who have the audacity not to be on minimum wage. It’s embarrassing to read.

Just ignore the comments on this thread OP, well done on working hard and being net contributors. An increasingly rare thing in the UK.

It’s really badly worded and seems to confuse people. It’s not child benefit that was capped. It was universal credit/tax credits that was capped at two children. It was a two-child, benefit cap. Not a two, child-benefit, cap.

Given how common this misunderstanding is I'd love to know how many MP's also thought that - either now or when it was originally brought in.

I bet there was a fair few.

Investing in an index fund via a stocks and shares over the long term isn’t gambling. It’s almost guaranteed very good returns over the long term. You are not being encouraged to take high risk strategies investing in single company stocks - global tracker funds are an incredibly safe place to put your money as long as you’re comfortable that you won’t absolutely have to access it in the next five years to give you flexibility to ride out dips in the market.

If you need to know you can use your money in the short term without having to consider the state of the market, i.e. your emergency fund or saving for a short term goal, then use a different type of sayings account or your remaining £12k cash isa allowance.

This isn’t about where to put short term savings, it’s about the use of ISAs for long term saving and wealth building.

I will save my sympathy for those in povertyZ

Where are you affording school fees and a 4 bed house on £140kpa, because I'd like to move there?!

Bit unfair! Her DH is earning that money just as he would be if he was in the private sector.

It’s really badly worded and seems to confuse people. It’s not child benefit that was capped. It was universal credit/tax credits that was capped at two children. It was a two-child, benefit cap. Not a two, child-benefit, cap.

Are you sure your DH pays pension contributions via a salary sacrifice scheme. I might be wrong but I think this is unusual in the public sector. The term ‘salary sacrifice’ is often misunderstood.

You are very lucky to have the income you have. You can afford to pay more
My household income is a third of yours and I would be prepared to pay extra tax to help lift children who are much more disadvantaged than yours out of poverty.

Ooooh brilliant , that’s all fine then. Jesus.

I think the real issue here is how expensive nursery is, which I know can’t be helped. If you didn’t have to pay £2k a month for that you’d feel loaded. We’ve now stopped paying nursery and the difference is huge. I also went part time and the cost was one of the reasons!

No. No they won’t. The overall benefit cap still applies.

It's not the child benefit it's universal credit.

You can still put £12k into a cash ISA. If you have more than that spare a year then you do realise that is a high amount to be able to save a year from net income?