Anyone watching the Budget 2024?

[LadyofRutshire]

I couldn't find a thread on today's budget. Anyone watching live?

Selfish ask (not been able to watch) has FE been mentioned? I know olthat over 150 colleges collectively asked for ££ to try to match thr school teachers pay rise

Yes it’s true son after receiving £1 million tax free the estate will be taxed at 40%. However £1 million is still quite a lot of money.

This is to recover money from fraudsters.

I really hope they follow through on the nhs - money alone will not solve the problems so I can only hope their reforms are well thought through and they don’t rush it

It seems to be going on longer than it was supposed to?

Who is the drag queen sat next to Jeremy *unt?

FE has been mentioned @NorthernGirlie there was some more money but apologies I can’t remember how much

Me too. Yes, it will take funding but it will also take careful and clever strategy and implementation and I really hope they can do it.

NHS plan is ambitious I hope that it pans out as planned.

Slippery slope because once they’ve established the principle it can be broadened.

there are already provisions to freeze and condiscate proceeds if crime

Not much said and nothing about student finance.

It's a new govt budget, the previous decade or so were continuation budgets so had less in the way of content than this one.

Still, I'd rather the 3 billion per annum to Ukraine went to the NHS instead.

all the NHS seemed to be focused on physical health? Has there been mention of mental health and social care at all?

I know there are aspects to the budget that worry people and I don't want to diminish those worries. But, for me, it was a well balanced budget that was nowhere near as harsh for 'normal' people as I thought it might be. And I thought it was delivered well.

She did mention social and mental health but they don’t have the plan yet I don’t think

Absolutely, defined benefit pensions ie Politicians, police, teachers NHS etc will carry on as before.

For all the people in defined contribution schemes, rather than benefit schemes, which are almost invariably in the private sector, will find their tax “pot” forms part of the funds used to calculate IHT. This will put a much larger group of people in frame for IHT.

it should be noted that Gordon Brown’s scrapping of the S242 claims for pension funds, exacerbated the closure of many defines benefit schemes, with most private companies now offering the less advantageous defined contributions.

This is not a neutral thing, or a good one. It is a raid (yet again) on pension funds - that unsurprising won’t hit MPs

Wonder who will staff these diagnostic centres. Nursing applicants down 40%.

She said 300 million for FE I think? Can’t see that going far though. I agree FE salaries have fallen way behind schools at this point.

So after he pays himself there's no actual profit? Nothing left? No dividends?

I wonder what the cost of administering waiting lists have been since they were introduced.?

The NI on 5 full time staff on minimum wage is well over the small business relief allowance, which I think she has increased to £10k hasn't she? So I don't know how she arrives at the 5 full time staff number...it seems incorrect, but we need more detail...

I don't see what Hunt is finding so amusing.

I think this measure is fair enough (assuming spouse exemption will apply). The IHT-free pension pot has tended to be a surprise bonus for beneficiaries, so I don't think adding it to the estate for IHT will make much difference to families but it will raise a modest amount of IHT.
The detail in the legislation bringing it into effect will be interesting and could have unintended consequences.
Pensions are still attractive from an income tax POV, so there is no point making them IHT free as well.

Farming's stuffed then.