Reeves’ Budget Dread

[Niceandkneesy]

I’ve listened to the budget from Rachel Reeves today and can’t help a feeling of dread.
what she’s produced as her budget compared to the Labour Party manifesto and it’s like night and day.

Why do politicians treat us as idiots? Why can’t they tell the truth? And why don’t they appear to give a sh#t about their lack of honesty? Or AIBU?

What are you a bot? It was a very good budget and I actually feel hopeful now for the first time in years!

Can you rewrite your first paragraph in English?

Were you listening to the budget?

I voted labour, i read the manifesto. I'm a higher earner & i'll be impacted by the capital gains tax. this was what i was expecting, I'm ok with it.

Like I said in the other thread, I'd rather tax rises than £300 per month on my mortgage interest payments (thank you Kwasi Kwarteng)

I have no idea what you are referring to OP. What the night and day is. Csn you explain what you mean please.

What are you dreading? It seems a fairly benign budget, all in. We’re a wealthy household and it doesn’t really affect us in the slightest (until October 2026 when DH will have to reconsider the cost of his social vaping) so not much to complain about at this end of the income scale; at the other end, rise to NMW, changes to Carer Allowance and UC debt payments are obviously going to benefit many. A few business owners with tight margins may have concerns about NI rises, but that was pretty much from the manifesto, it shouldn’t come as a surprise.

You understand perfectly well, don't be a knob.

I worry about the impact on business with the NI raise, that it wont help promote growth. With public services it will be a bit give with one hand and take with the other. The NHS, schools etc wage bill will go up 1.5%, doesn't sound like much, but in the context of the nhs it's billions.

Are you a non dom with a private jet op?
I personally thought it was a good budget

What exactly are you dreading? How are you personally affected?

I agree.

Please be more specific.

I don’t like this Labour party but IMO the budget is very broadly speaking a small step in the right direction.

Also seems wholly in line with what they trailed in the manifesto and since.

Which points exactly go against the manifesto?

Or a ‘striving’ private school parent?
I thought it was pretty decent…

The OP makes zero sense. How can you have a feeling of dread after you know what’s in the budget? Isn’t dread an anticipatory emotion?

I did not vote Labour but I don’t have any gripes, particularly. Maybe businesspeople’s concerns about employer NICs and the impact on small companies should be addressed. But what exactly are you worried about, OP?

I see remarkably little in terms of personal tax impact at all from this budget after all the pearl clutching and wailing of most of the media for the last week. 🙄

We’re higher earners with no DC in private school and I’m quite relieved not to be hammered tbh (although I spoilt my ballot in July because all parties were appalling).

It’s not made me a particular fan of the Labour government, but it’s not going to impact my life negatively either.

I think it’s a pretty marvellous budget. Listened to the whole lot on the radio.

Bravo Labour.

My problem with this budget is the change in how debt is measured which will allow her to borrow more. I don’t necessarily have a problem with the borrowing but I don’t like the optics of changing parameters to allow you to do something the original ones wouldn’t.
Potentially the NI hike could backfire too and prevent people taking on extra staff. I’ll watch and see before I feel too optimistic.

Totally agree.

Omg this! I loved it. So many good initiatives

I haven't had a chance to look properly yet, what are you particularly pleased with?

Well if you believed the right wing press, they all thought it'd be a lot worse and now they're scrambling.

Basically the employers NI rise will be paid for by lack of wage rises.

Things like NMW rises will be paid for by inflation in the cost of various things. So your Costa is going to cost more etc.

I guess you either agree with these things or you don't.

But it is a stealth budget. Everyone is going to get taxed to pay that 40 billion. It's just that they are being taxed by stealth rather than taxed directly.