Emergency Budget

[Wouldloveanother]

What are we all thinking?

www.bbc.co.uk/news/business-62920969

A discussion thread…

For those moaning about paying pensions to pensioners. Remember those people worked often for 40 years before getting their pension. Their lifelong tax and nic contributions paid for pensioners pensions when they were younger workers. That is how it is done. Your children and grandchildren will pay for your pension and the pattern continues.

No Ken would not stay where he was! Have you had no experience of the system at all? They will quite literally take every penny you have earned (bar the current allowance) and then say thanks for your money you can’t stay here any more and the council have to find you a place that they can afford to fund.

@Lunar270 wasn’t IR35 meant to prevent tax dodging

You're literally arguing with yourself about people you made up three posts ago.

Dh is over 66. He is a pensioner
He doesn’t own a house

Where is his house he has money tied up in?

Well that's scary

Soylent Green is a 1973 American ecological dystopian thriller film directed by Richard Fleischer, and starring Charlton Heston, Leigh Taylor-Young, and Edward G. Robinson in his final film role. Loosely based on the 1966 science fiction novel Make Room! Make Room!!^ by Harry Harrison, it combines police procedural and science fiction genres, the investigation into the murder of a wealthy businessman, and a dystopian future of dying oceans and year-round humidity due to the greenhouse effect, resulting in pollution, poverty, overpopulation, euthanasia and depleted resources.[2] In 1973, it won the Nebula Award for Best Dramatic Presentation and the Saturn Award for Best Science Fiction Film.

Some of them are. But we are concerned with those that aren't. Well, some of us are, not you.

What about poor old May, who worked all her life but still has no money?

Does your means testing involve a worthiness assessment? Maybe we could look after poor May, but lazy old June could be euthanised to save some cash?

So what is the system now? I have an elderly relative in a care home, I have LPA. She has sufficient money so she is in a nice home she pays for. If she had no money she would be in a different home that the LA would pay for but they would take some of her pension towards it. She doesn't have, and doesn't want, the option of being in another home paid for by the LA but even if she did they wouldn't pay it.

THIS

I think that’s exactly what it sounds like she would like!

But I’m talking about a completely different system where this wouldn’t happen. You’re making a strange hybrid out of what I’m saying and the current system.

Pensioners are the wealthiest demographic in the country. There would be more than enough money raised overall for Ken to stay where he was. Many care home residents don’t live there that long for obvious reasons - the average is less than 5 years for both sexes, at a cost of £35k per year. That means the average person will require ~250k of care. One in five baby boomers in the U.K. are millionaires. Some are poor but most are in between and very able to afford it.

Yes it was one of the things I was warned about when choosing a home for my relative. Social worker said be careful you choose a home she can afford to stay in as if the money runs out she will be moved.

It wasn't going to go to social care until 2024, not a penny has gone to social care so far. All NHS

I don't see how cutting races is going to help already underfunded services. Rishi, said that it wasn't the right time.

My relative's home is almost double that and it isn't the most luxurious. The average is worked out by including the sort of home you really don't want to be in. We looked at them and no one would want to be in them. A home that is charging about £400 a week brings the average down.

I cant help thinking this right wing libertarian coup just wants to slash the rules and maximise profit for rich investors.
By the time the general public realise the mayhem theyve unleashed they'll be long gone.
Whichever government comes next will be in the impossible position of laking good when faced with the legacy of spiralling public debt, high interest rates and tanking pound.
Trickle down economics mean the rich will probably be investing their untaxed wealth on some other continent with even crapper Labour laws than ours are gonna be.

And what about those that have worked but in hard min wage jobs?
My parents aren't loaded. My mum died but my dad retired at 71 (he worked since age 14) and is having to pay rent, hence not having a giant income
The job came with accommodation so they never had a mortgage. Except for one they bought, rented, and had to sell at a massive loss as the tenant trashed it and didn't pay rent

Thank you, I was beginning to think I was in an alternative universe.

How about tackling the fact that most care homes are privately run profit making enterprises?

I am happy to pay either tax or a social care levy so that those pensioners with insufficient wealth to fund their own care can be properly looked after. However, I dont agree with taxes being used to fund substandard care in private care homes where the owners make millions and pay their staff a pittance.

www.bloomberg.com/news/articles/2022-09-22/martin-weale-says-uk-risks-run-on-the-pound-with-truss-policies

Former BOE policy maker sees parallel in 1976 IMF bailout

@Xenia I am not sure how a run on the pound is good even for rich people.

It would take a massive amount of money to set up. In the long run it is probably a good idea but I can't see them finding the money to start it.

Better food, nicer room, better facilities etc.

Interesting that you see those things as important and don't mention care or staffing ratios. I go into a whole range and variety of different residential homes. The best ones are not the best looking.

Same- we will be £1000's better off as a family but don't need it- would prefer better services etc for the country as a whole.

What about those that aren’t happy to pay it because they can’t afford it? Do they count? Or are working people merely there to be squeezed to death to look after society’s dependants?