Anyone watching the Budget 2024?

[LadyofRutshire]

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

This is a useful response to the pp, running a business is 'everyday lives' for some people. And in turn it impacts employment figures which is also everyday lives.

Sunak is virtually crying with anger. He can’t believe he got it so wrong.

I have both a db and a dc pension and I can assure you that my db pension dies with me apart from a half share paid to a surviving spouse which will die with him. My adult children wouldn’t receive a penny. As for my dc pot, I’m comfortable with it being brought in line for IHT-after all, I got big tax relief on the contributions and also can take 25% tax free.

Fantastic, responsible, grown up budget to help those most in need.

I was literally just thinking the same wouldn’t it just mean having to pay more benefit through the housing element of UC.

@Startinganew32 read my further posts. You pay from £0 on a second property. Yes it is a big deal to us. No we are not rich.

The additional cost of a business employing someone on avergae earnings has just increased by £1k. It'd be naive to think that the impact of that is not passed on to individuals. Either in lower payrises, or higher prices. Either way the average person will be worse off.

I suppose the only good news is that employer NI rises are far less likley to impact pensioners, except to the extend that things become more expensive. But the tripple lock will help there :)

Okay well you should have said that. Is there no way to raise the extra amount? how much is it?

Watching Politics Live and the analyst is saying the OBR is predicting interest rate rises and inflation rises. Also growth of disposable income will drop due to the NI increase. Not good news.

The balancing act is who takes over the farms. I'd rather we found a way to tax people cashing in but also making it affordable for non-wealthy people to run farms. Maybe an expansion of agricultural tenancies? Not an expert here, but 40+ years as an Archers listener make me think this is going to be a big issue for the countryside.

Increase on national insurance, increase on national minimum wage.

He employs several over 21's (university students studying vet med) receptionists so will have to increase their salaries OR stop giving them discounts on their pet bills.

He has over 50 employees (Including technicians, nurses, vets, receptionists) across two sites.

@Shakeoffyourchains - he doesn't give pay rises. Instead he covers 40% of the cost for any of their pets that need medical care - which is usually much more than a pay rise could ever be - out of any profits from the company. No, he's not a good businessman tbh - but it does just mean he's going to have to cut staff because he absolutely will not take away the benefits he does give them. So people who think this budget and the NI + increase in NMW won't hurt businesses are wrong because it will hurt good businesses the most.

Are you watching the same thing as the rest of us 😂

I’m sorry this sounds like a very acute stressful situation for you.

In your shoes I’d be off mumsnet and on the phone to your bank/anyone kind enough to give you a loan.

sorry I’ve done this twice where it looks like I’m quoting the original comment and not the response. This was for @deflatedbirthday

I think I saw Keir Starmer smile for the first time in a month. Rachel Reeves has done a first class job politically.

Tory response will be inadequate. And a better market response that Truss (low bar).

Hang on - you say he’s not a good businessman but he’s running a good business? Honestly, this is a problem of his own making.

Well you're a delight. This isn't really a second home. It's the only one I have - well haven't yet got. If this falls through we are homeless. We are currently squeezed into one bedroom with family and it's not sustainable. I'm not in any sort of privileged position. Far bloody from it

So basically he has been giving huge pay cuts the last 4 years due to the massive tory caused inflation? Sounds like a shit employer. A discount on services his own employees provide is hardly a perk. Doesn't pay the electric bill does it.

Agree. Bleak days ahead for the British economy.

Sorry to hear this, you will be joined by many SMEs. Which is a sector we depend on greatly for growth so if Labour have got this wrong I don't get the remarks below.

@deflatedbirthday any possibility of buying in your sole name? Could he look at transferring legal title to his ex wife of the other property if she buys him out? Is it expected she will live there for life or only until the kids are adults?

@Hyperbowl perhaps but, housing element has its limits and often falls short of covering the entire rent, as it varies based on each council’s cap. So, this might be startegy to encourage people to seek additional work or increase their hours to make up the difference..

This ..about time someone publicly held that bunch of clowns to account!

It will be interesting to see how it pans out in the medium term

Many businesses have survived for too long being propped up by the benefits system

Yes, thank you for saying that. Also, I hate the weaponising first females roles for political ends.

That's exactly the thing - make salaries higher and pensions lower to be in line with private sectors