October budget going to be painful

[increasinglyconcerned]

Here we go..... I knew it. Labour were promising not to hike our taxes in the election campaign and here we are.... apparently they discovered £22 billion black hole in his first weeks in the role and it's not his fault.

Let me guess, those of us who earn six figures and already pay 45% will pay EVEN more and take home even less. It's the hard workers who will take the brunt. What's the point in working anymore!

I earn a little over £120k and I'm taxed the same as those earrings £500k.

Before people jump in saying they don't feel sorry for me, I work full time to support my family, as of January I will have 2 DCs in nursery, plus my mortgage and get ZERO free hours childcare, whilst they keep promising free childcare but I just pay more for everyone else to benefit.

I cannot afford to pay more taxes to fix this country and especially when so many people are getting a free ride and not paying their way, ranging from millionaires with tax havens to those claiming benefits dishonestly.

So what do you think should be done about the "work shy"? And who are they anyway?

What a horrible way to describe people.

I know of six people in their twenties who have been gifted anywhere between £700k and £2m by their parents in the past two years.

All have been able to buy houses without mortgages and the ones who received seven figures have all chosen not to work.

Interestingly they’ve all started to have kids, born in NHS hospitals, using the local doctors for any issues and will be sending them to the state schools. All tax payer funded.

The seven figure lot are paying zero tax. How is that fair compared to those in their twenties and thirties paying 40-45% tax plus NI who then have to pay childcare costs on top plus mortgages or rent?

I’m not a socialist but do believe that those who have inherited wealth or who live off a nice trust fund should pay a wealth tax. But not if they earn enough to pay at least ca. £25k in income tax.

£25k per annum income tax that is

He says clearly that ‘those with the broadest shoulders must shoulder the burden’, which means anyone who works and earns above minimum wage will be punished via their taxes. Absolutely no doubt there. But if there was such a huge black hole, financially, why did they jump in in their first few weeks to pay a large 22% pay rise to doctors, with indications that all public service employees are going to receive above inflation pay rises of 5.5%? Totally irresponsible, but not a surprising move by Labour.

I wonder how much of this £22 billion black hole is due to Labour giving pay rises to doctors and public service workers? Ridiculous thing to do if we're in debt as it will only make it worse.

Exactly, its poor hiding behind semantics

Also, I don't have a future copy of the budget, but I'd be intrigued to know what other posters think could possibly require such blatant managing of expectations six weeks prior to the budget other than a blunt negative impact to the take home pay of the majority of hard working people?

If that’s the case then surely they could make back the money by charging an additional 5.5% tax on the public sector…?

Not for one moment do I believe this is true.

I'd be intrigued to know what other posters think could possibly require such blatant managing of expectations six weeks prior to the budget other than a blunt negative impact to the take home pay of the majority of hard working people?

Reduction in in-work benefits? Don’t think that would go against anything previously promised.

Such as?

Problem is that if you tax inheritance too highly it will simply incentivise parents to pass on their money well in advance of old age to avoid it. Why save all your life for the benefit of the government? I'd rather give my money to my family & causes I believe in than have it wasted on nonsense like HS2 & MP expenses.

You forgot PIP and DLA - which are NOT means tested and are over £800 per person every weeks…plus mobility car etc.

I’m a teacher. There aren’t any 6 figure teaching jobs. A few headships, but not everyone can have them, çan they? And we still need teachers. What a stupid comment.

Child benefit would be the obvious one - get rid of it and put it all on to UC.

Increase the UC taper.

Make PIP a taxable benefit.

Not saying I agree with any of thes, but they’d be options.

I know all about his life circumstances as I've known him 20 years. He's feckless. So myself, my husband, and every other tax payer has contributed everything in his household from the food they eat to the shirts on their backs to the bricks of their house. Currently he has been unemployed for 3 years and had 2 children in that time period. Now he has a house worth 200k that families who do work hard would love the opportunity to have. Not exactly fair is it?

I wouldn't live off the dole like them because I don't think it is a good way to live morally, socially, or economically. But we are all paying for them.

Goodness me I must be ready for bed, I misunderstood your post as mandatory in work benefits such as mat/pat pay, pension etc and just couldn't make the link 🤣

I’m fine with paying lots of tax so long as I feel I have access to quality services and support.

Being excluded from tax free childcare and free hours has left all of the high earners I know with young children feel very let down by the state and questioning what exactly they’re funding.

W have reasonable lifestyles but live in London where the cost of living is very high, two in nursery is ruinous.

You’re making that up. You’ve decided what it means without it being said. Plus apart from the doctors (and can you really argue they don’t deserve some levelling back to where they were) public sector agreements are just the pay review bodies’ recommendations (with parameters set by the Tories). 5.5% is above inflation now, but there was no 11% pay rise when that was the level of inflation

No. The PIP is used to pay for the Motability car, it is not a "free car" on top of PIP.

The very most you can get on PIP is £184.30 a week. Of that, £75.75 a week is deducted if the disabled person chooses to lease a Motability car.

To get the highest rates a person has to be very disabled.

The Budget is traditionally painful, regardless of which party is in. Any Budget by any party of any ilk was going to be tough because of the inflation hikes to day to day stuff like food and fuel we have all had to endure over the last year or so. Everything seems to have gone up at the same time and hasn't gone down particularly, its just stopped going up as quickly !

I work my arse off high up in the public services, tiny house, one child and I'm terrified of the October budget. It seems like no matter how hard you work in this country the middle earners ways suffer. I haven't met a single Labour voter who makes sensible decisions I'm their own personal life let alone with their vote that affects others.

PiP plus ESA is over £800 every 4 weeks (that wasn’t clear when I posted, sorry!) My point is that PIP and or DLA in addition/ in conjunction with UC and other benefits as outlined by other posters - can be a v. good amount to live off and far more than someone working full time on NMW.

We will have to disagree re: ease of PIP and DLA requirements - in my professional and personal experience it is very easy to claim which is, of course, good for those who are genuinely in need - but not everyone is altruistic or honest in society and many do lie and claim things they should not. It is naive to believe otherwise imo.

OP wants to stay rich and not have to pay for her fellow citizens' needs.

Simple.

She cannot afford it? Bollocks she cannot. She doesn't want to.

TBF someone earning in the top 2-3% should really be able to comfortably afford two kids.