Emergency Budget

[Wouldloveanother]

What are we all thinking?

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

A discussion thread…

Have they repealed it all together. DH and I thought they'd just rolled back the changes to make the responsibility for the decision fall back on the contractor?

That was the intent. But that wasn't the impact. The rules simply aren't clear enough. It's caused massive issues around people being able to contract legitimately.

If they’re living on the basic pension then they have made no provision for their elderly care.

Because

They didn’t earn enough
Their employer didn’t offer a pension scheme
They were a woman who was barred from entry to her employer’s pension scheme

Take your pick, many fell into all three categories.

I'm shocked at the number of people thst haven't made provision for pensions and relying on just the state one.

What if June wasn't some feckless benefit scrounger (which appears to be your implication)? What if June had spent her life working in social care herself, or as a nurse in the NHS, or as some other lowly paid but highly valuable career? What if June didn't work because she was disabled? Screw them all too and send them to a glorified kennels?!

Lots of people don't amass wealthy before needing care despite being worthwhile and productive members of society.

The OP's comments on this thread are absolutely sickening.

I'd tell you a joke about trickle down ecomomics...

But 99% of you wouldn't get it!

👏😂

45% of these tax cuts benefit the wealthiest 5%. Just let that sink in.

Me too.

I don’t know why. I’ve just explained it for you.

You forget that paying into a pension didn’t mean you actually got your pension

Asset strippers or a company’s financial difficulties meant the company pension fund was used to pay off company debts.

I paid into a pension. I don’t have anything because the company went bankrupt and the pension fund was used to pay off debts

Ah so you're just a misogynist then? Because you're defending giving most men access to a quality of care you're denying to most women, to perpetuate the societal inequalities that influenced these poor women's whole lives?!

It’s a big shift but I’m not surprised at all.

A lot to process but will see how it goes - some of it will be very unpopular though

There's no point trying to do that. The OP has decided only feckless wasters don't have adequate private pensions.

There's no other reason anyone could ever find themselves without sufficient provisions old age.

I think it's a 'look we're cutting taxes to help people' budget that actually mostly helps the well-off. As usual.

It's a morally repugnant budget, that's for sure.

Not at all. It was a cynical way for the government to extract unlawful tax from contractors. The repeal is the right decision, which is odd for the Tories.

HMRC have taken legal action on over 1000 contractors over the years. Only about 8 have been found guilty in court, basically because there's nothing wrong with how contractors have operated.

It will go as thus;

2 year boost to economy, possibly driven by international investment due to the weak £ and the tories desire to offload as many public services as possible. Followed by a huge recession, just as the Tories exit stage left.

They've tried this sort of budget twice before and it didn't work either time (at least not for the majority, I'm sure the rich will be looked after as always).

Are you? We live in an economy where the government (Labour and Tory) have chosen to subside business through in work benefits for years. People working relying on benefits. Where do you think that group pull a budget to invest in their retirement? Of course most actually do if they’re working, it’s just the sums involved don’t amount to much because, well they’re not well off are they?

The public haven’t moved the goalposts, successive governments have.

I was actually talking about pensions to friend yesterday and she found that a pension she paid into in one job where she worked for 8 years she has been told has been lost as she didn’t tell anyone where she wanted it to go. They said she was written to but there was a time scale where she could tell them what to do with it otherwise she would lose it.
They wrote to her old address and she never got the letter.

Dd has just started paying into her pension
She has been thoroughly disillusioned because out of 3 payments there has been 2 mistakes on putting her NI number so has now taken it all out and doesn’t trust the scheme.
She would rather keep the money in her pocket atm as 40 years from now she knows she won’t be able to keep track of what companies she has worked for (she works freelance) or where the money has gone or who has made a mistake and half her money that she has paid into would be lost.

Friends Dd has decided not to pay into a pension for the same reason. Too many silly mistakes .

Actually, the more I think about it and listen to coverage, the more it sickens me.

I am actually feeling quite ill now. Of all the changes to income tax they could have chosen to make (and the next generation pay for).... it's come down to making the rich even richer. SICKENING.

The juxtaposition between the winter coming and leading with the highest tax rate - people are going to be spitting chips

I don’t know how they’ll get over that. Although Labour would have to reverse it all at GE

Maybe a few years off though

They both go into basic care homes.

Where are all these basic care homes going to come from ? Who is going to build them ?

This doesn't quite work, because one of the benefits of most of those lower paid public sector roles (and reasons people stay) is the comparatively generous pension.

I'm.sorry that happened to you/your pension. But you still recognised that the state pension is a pittance and made provision for it.