Sir Keir Starmer and the budget

[disappointed101]

Can someone explain in layman‘s teens how “The middle” will be affected by the budget? We are comfortable but not stinking rich by any means. Reading what people are saying makes me feel sick. We have a good disposable income due to almost being mortgage free, older kids etc but don’t spend on luxury items save for holidays. Is it even worth working at this point? Is it worth having savings or should we spend our savings and upsize in property? I’m so worried he’s coming for everything we have worked for in the past 20 years.

My mum worked for 20 years at Tescos on a low wage. Up at 4am, out of the house at 4.30am four days a work to walk to work. She paid every spare penny of her wage, including overtime, into company shares. That over 20 years has added up. That is her money that she chose to prioritise to give her some security later in life. It disgusts me that Starmer, doesn't consider her a working person because she's grafted to have some assets that he is now going to come after.

Is it even worth working at this point?

Get a grip!

It would take me about 15 hours to earn that £200. I'd rather have it myself as I frankly don't have much faith that the government is going to make anyone's lives better in a meaningful way (including mine!)

“You will own nothing and be happy”

@Idlelion I agree and I think that posters (and political parties) who perpetuate this "people who work hard get the success they deserve!" are shameful.

I very much doubt that things will be made difficult in the short term whatever someone’s worth.

It’s the long term that will be miserable. If it’s true that private sector pensions will be raided by charging NI on employers’ contributions but not on public sector pensions, there will be a ‘long grass’ approach to financial pain, as Brown did, with a strategy of shoring up public sector worker support for Labour in the meantime.

Even if that is softened, the apparently inevitable - and dishonest - increase in employers’ NI generally will create job market issues down the line for the private sector.

It’s younger adults who’ll get it in the neck, indirectly.

As for Tory bots 🙄 it’s very obvious that Labour cheerleaders have adopted that as a way of both belittling people and creating doubt about genuine concerns.

@Restlessinthenorth

The previous government steadily reduced the tax free income on share dividends held outside an ISA from £5000 in 2017 to the £500 it is today.

Nothing to do with the current government so you and your mum know where to take your moans to.

Rental income will take the poster above state pension for annual income so therefore won’t qualify for pension credits (and associated benefits such as WFA) plus will have funds available to pay for social/nursing care if needed when older.

That’s a significant saving for the state. If people feel they are going to be penalised for planning for their retirement in this way and stop bothering, that will increase the burden on the state.

I’m so worried he’s coming for everything we have worked for in the past 20 years.

Not half as worried if you needed vital healthcare and couldn't access any, and from your sensationalist post OP you might worry yourself into needing some.

We are all going to be paying a bit more, for me it's more important how things improve, which will take time.

Reading between the babble, I quite like the sound of Labour's overall vision. But know it will take time (and money).

In 12 months time if ambulance arrival times have dropped (a bit), housing is more stable for renters and the inequality divide is slowing that would be a good start.

And I say this as a household that's going to be hit from all sides, pension contributions, a second property, x2 teens who want to go to uni (to do at least masters), shares, cars.

Nurses shouldn't have to go to food banks. Young people shouldn't be stunted in starting their adult lives because they can't move out. People shouldn't have to wait for hours in pain for an ambulance. Children shouldn't fear school holidays because they are hungry.

It would be nice if more people cared outside their bubble. That might take even longer.

Everyone is entitled to an opinion. The OP is allowed to feel concerned. I wish the sneery Labour chip-on-their-shoulder brigade would butt out.

I'm interested to know how people think services like the NHS, education etc would be paid for if the government don't raise finances in some way?

I don't want to move to a US style system where we have to have private health insurance to pay for it. I've had an infection lately. 2 doctors appointments, lab tests, antibiotics etc. it probably works out at about £600 worth of treatments. Who is paying for this?

Everyone always takes this so personally but there are always people worse off than you.

Thanks @frozendaisy you’ve summed up my view (which I was struggling to articulate) perfectly. We too are likely going to be ‘hit’ - two higher rate tax payers (one a small business owner), two teenagers wanting to go to university. Honestly though that’s fine with us, it will be a few hundred pounds a year and we can already see intention to invest it in the NHS, Housing and growth schemes like the Green Deal. 14 years ago we had the best public health service in the world but under investment, lack of workforce planning and Tory stupidity and cupidity destroyed it - if this government is going to reverse the downward trend it is going to take financial investment- and that has to be funded somehow. I’m not feeling a rush of love for Starmer’s Labour - but dear god they’re not going to be as bad as the last lot!

For fucksake

The stupid press fear mongering is really working! Do you believe them everytime they predict 6ft of snow and record breaking cold winters? Have you never noticed that they publish this shite on a rolling rota and it has no basis in fact?

This is the same. The extremely deathly newspaper owners are worried they might have to pay a few quid more in tax toward a fairer society so they are whipping up fear to try and destabilise the government.

This isn't communist Russia. No one is going to take all your savings and redistribute it. You won't be working for nothing or better off on the dole.

You might pay a few quid more in tax, perhaps you will have to put less in savings or have one less takeaway a month, but surely that's better than leaving all our public services to degrade further, which we will if we don't start funding them.

As a disabled woman who's DH works full time, I'm concerned. My DS has ASD & ADHD. I also have a DD who is a teenager. We have a UC top up. This pushes us over "help for nhs costs" - which only became apparent when I received a nice penalty charge from NHS business services for £419. I'm constantly fighting to keep PIP after having a stroke which has left me with cognitive problems and fatigue. My DS is on a CAMHS waiting list black hole with no support. My DH works all hours he can to support us. School refuse to do an EHCP because my DS doesn't display "violent tendancies" even though he struggles massively emotionally and socially. My DD is currently going through GCSEs and is the definition of a "glass child" and is a registered young carer. We live paycheck to paycheck.
I am concerned about what comes in the future. I'm grateful I have the support of my DH. Finance wise it's still shit. We are lucky to live in social housing, but month to month is hard.

Since spending on the NHS has increased in real terms for the last 14 years, any problems with the NHS must lie with the NHS itself.

In fairness, I do think Streeting (and Milburn) recognise this. The money’s not being raised for significant increase for the NHS.

It sounds like they're gonna focus on those with properties that make passive income eg landlords, and they're going to raise funds from employers NI hikes. That a really makes a lot of sense as a lot of workers are propped up with benefits so it's just making employers pay for what they should be paying their workers in the first place. Landlords will be massively decentivised from conti using to jump in the way of people needing housing and taking their wages to pay for their assets. It will be quite beautiful when it happens, believe me.

What do you mean "is it worth working?" Why do people say these ridiculous things as if it's an option to choose not to work and you just get given everything? It is not, that's not how the system goes.

And who said I don't have an opinion on that too? I am talking about what Starmer has said in the last few days regarding his definition of "working people" and those who fall outside of that definition and how they are likely to be the ones impacted, which I find incredibly insulting and also concerning for the future.

For what it's worth, you sound rather rude and dismissive. Much like Starmer. Perhaps you work for labour PR

Really? You may be missing some outcomes that are not so dreamy

I won’t deny that adjustment in the housing market would be welcome, if it allows wider, cheaper FTB and rental.

@rummly investment has increased but NHS Confederation analysis has demonstrated that had the UK kept pace with the average across the EU-14 between 2010 and 2019, the UK would have invested an additional £33 billion in healthcare capital.

Absolutely agree with this. We’re all worried OP, it’s safe to ignore those sneering at your concerns on this thread, they’re not representative of wider public opinion. Prepare to be punished for your aspirations on Wednesday.

🤣

How will the new policies (bill and possible CGT rise) end in cheaper rental?

You may not get both cheaper FTB properties and rental, if that’s what you are hoping for in a housing market shake up via anything due to be included in the budget. If landlords are inclined sell up, making houses available for FTB’s, all that will do is increase rental prices (supply and demand) but possibly reduce house prices for the same reason. Sounds great for FTB but could push many others into negative equity, stopping people moving up the housing ladder, thereby slowing the housing market down. Increase rental costs will have a huge impact on the younger generation, making university even more expensive.