Labour isn't working - Thread 21

[TheNuthatch]

A chat thread for those who don't like this Labour government. 💙

We are bracing for the budget 😬

The problem with socialism is that you eventually run out of other people's money.

Previous thread
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Yeah, I'm glad you understand the type. Thanks for that. Construction is full of it. It was a challenge at first, but I won't miss it.

Reeves's only extraordinary "achievement" is the speed with which she's trashed the UK economy.

Yes! 🤣🤣

I hope you have some googly eyes lying around...

If this plot was cooked up inside the department could anyone have made money out of it Soros style if it leaked.

My husband just told me that the FT reports that the banks have been told to praise the budget because they weren’t taxed!

Sounds amost like a threat!

Good point. I suppose its possible if true. I'm still trying to apply hanlons razor to this government, but its becoming more difficult by the day.

'Told'? Wtf?
It does sound like a threat.

So does everyone know what's happening in the budget then?
I've read cash ISA limits down to 12K.
Mantion tax on £2m+ property.
2 child cap lifted.
What else is now a dead cert?

Sorry for typo. Mansion

Oh and not forgetting income tax freezes.

Taxing state pension?

Hahaha!

I guess that will happen by default with the income tax band freezes.

Frozen tax thresholds…
Reevaluations on council tax bands F, G & H.

Plus, there’s probably a joker in the pack (no, not Lammy…)

Honestly, I'm trying to avoid it all atm. I'm too stressed with everything else I've got going on.

I've heard the same as you have listed. I also think the EV levy is nailed on, as well as extending the freeze to income tax thresholds. My accountant was convinced months ago that they would go after dividend tax so I think there will be something on that.

Lord only knows what else Bell Reeves has dreamed up, but I think she'll try and announce headroom of around £20bn this time. There have been so many kites flown, anything is possible.

Yep. I'll be like the living dead by Wednesday. Talk about death by a thousand lashes. I'm expecting we'll get walloped with some kind of salary sacrifice/pensions tax relief thing.

Yep that's what we're going to get hit with. It's even worse for us as DH is inside IR35 so pays employers NI too. I calculated he'd be paying an extra £9kpa in tax on top of the tens of thousands he already pays.

My employer raised their pension contributions a while ago, they might put them back down again if they get hit with this.

There also the talk of a cap on the maximum amount of salary sacrifice you can do.
Potential revaluing of higher Council Tax bands (think this is separate to the Mansion Tax)

Yes it is a worry. A really fucking massive worry. Dh recently had a payrise after years of not much. I'm expecting it to be wiped out, only worse as cost of living bites us on the arse even harder. We never seem to catch a break.

Oh deep joy. I guess there'll be something for everyone. Oh wait... Not everyone...

Thinking about this even more now. It always happens to me at night when I really need to sleep and I end up giving myself insomnia. This won't affect me now as my kids aren't little anymore, but salary sacrifice will be a huge issue for people trying to keep under 100k and not lose childcare. In this situation, I'd definitely cut my hours. Lots of folk will be doing this. I've told my Dh to do this if it becomes not financially viable.

Anyway, I'm going to bid you all goodnight. My sleep is dreadful right now and stressing about the budget doesn't help.

@CaveMum I hadn't heard about reducing the amount you can ss. That makes it even worse. It's not worth bothering to work tbh. Might as well get a job paying less than £50k and claim every benefit going.n

I need to get off instagram! This time the Times on education.
https://www.instagram.com/reel/DL71WS7qmIm/?igsh=ZzN6bmIxbXhxaXd3