To those on £145,000 plus will you spend or save your tax reduction following the recent budget

[FridayTheThirteeth]

The PM says that giving tax cuts will boost spending and the money will trickle down to the bottom

So if pay the 45% tax will you spend the majority of the tax reduction or save the money.

I think people will save the majority of it.

YABU - they will spend most of it

YANBU - most people will save most of the tax reduction

But you are assuming that the tax savings far outstrips any mortgage/bills rise and ignoring that some/many are already donating or giving up much of their free time to charitable causes.
It’s very naive or ignorant of financial planning to think that donations should automatically increase.
As I also mentioned earlier, spending any extra also helps keep people employed and hopefully off the poverty line by allowing business to continue running and employ staff.

Well nobody is doing anything with it now!

Most of us were expecting it to be cancelled so there was no point making grand plans on what we were going to do with the money.

I said upthread it wouldn't happen but didn't expect it to be reversed so quick 😆

Same here. I thought it might limp on to the next budget.

Cancelling an extra summer holiday I’d booked next year due to this.

It’s a good thing that it has been cancelled.
Probably better to increase the personal allowance or widen the upper range of the other tax brackets