Another budget one. Sorry.

[photodiva]

I keep seeing posts about how this budget will be so bad for us all, am I the only one who won't be (personally) directly affected? Or at least, in a negative way?

I get the issues around businesses and NI but I am a civil servant.

I will get a pay rise! Yep, you read that right. I earn NMW so my wages will go up.

And I don't have a 'gold plated ' pension.

I totally get there will be a lot affected but I can't be the only one who benefits can I?

Well, they might not last long in this situation.

It doesn't personally affect me that much. I don't think its a great budget. It will have unintended consequences. It will keep wages low and raise prices. However I understand where Reeves is coming from. Taxes have to rise. No one wants it, no one wants to do it but it's either this or put up income tax presumably. Personally I think that would be more straightforward, especially placing the burden on the highest paid but for some reason people in this country just can't stomach it.

Think labour have been 'clever' by not raging income tax and raising NMW.

Many people will be looking at this budget thinking they've dodged a bullet when in effect it's anything but.

I'd say they're treading a fine line between centralist and left politics and have done it 'successfully'.

How it will work in the long term is anyone's guess.

While it won't affect us directly in the short term I'm well aware that there are many who will now feel the effects, and not the groups that deserve or were prepared for it.

Over all it shows a mastery in politicking.
Trail it for weeks as being a nightmare for many and using scare tactics, it's succeeded to the extent that much of the population are today feeling 'phew!' Not as bad as we were expecting.

Unfortunately I think it's far far worse.

I think it's what Labour are banking on. The complete lack of understanding and the complete lack of shits given by those not directly affected.

Im not sure people realise how much extra this will cost mid sized up employers. Massive business with huge profits will be able to swallow it but many will barely cover it. There's no way prices for goods and services won't rise.

295bkq you put it far more succinctly than I did!

But as RR said: everything needs to be paid for.

There's no way prices for goods and services won't rise.
Unless they outsource to cheaper countries. We will haemorrhage jobs.

I'll have to pay VAT on school fees but otherwise won't feel anything immediately. I will have to make cutbacks but we are are high earners so fair enough.

I am happy to pay more providing I see an improvement in public services, so I'll reserve judgement until the end of the parliament.

Tell me you didn't understand the impact of the budget without telling me you don't understand the impact of the budget!

That’s the worry.

Unemployment rising will add billions to the welfare budget.

Absolutely.

And it seems to be working.

This is the bit that irks me. I am quite happy to pay increased tax, if I thought that the money would be well spent and we would all see actual improvement. But I don't actually trust ANY government to deliver on the promises they make and actually spend money wisely and effectively.

Train fares due to rise:

Regulated train fares in England are to increase by 4.6% next year, while the price of most railcards will rise by £5, the government has announced.
The increases were not mentioned by the chancellor in her Budget speech to the House of Commons earlier on Wednesday, but it was instead noted in the Treasury's budget document.

I might be affected as employers in retail and hospitality might decide to cut hours. Also the AET in UC will be increased I think which will mean being pushed to do more hours when there isn't any.

But you can set up a direct debit each month to voluntarily pay more tax and you can choose which department the money goes to. If you are happy to pay more tax then the mechanism is there to enable you to do it.

Another one who doesn't actually understand the budget and that it will indeed impact them - but just by stealth.

Well they won an election by banking on that

The real issue is that the country is in a bag load of trouble. Brexit and the Trussterfuck along with 14 years of cuts to public services have damaged our economy considerably.

Whilst rates of taxation are higher for us than they have ever been, they are still lower than many other European equivalent countries. Public services need to be paid for after all.

I agree with PPs that some of the changes made yesterday are not fully understood by the masses yet, however for me, it is one thing to raise additional funds, but it is quite another to administer them properly. In principle, I don't disagree with paying more tax if, and it's a big 'if', they are administered efficiently.

The jury is still out on whether that will happen, we will have to watch and see whether waiting lists really do reduce, and whether more housing is built etc.

Interesting that the OBR and the IFS both state that short term growth is likely to be up, but long term less so unless the administration of newly created funds is invested wisely.

Didn't realise anyone in the civil service earned NMW how awful. Surely the pension isn't worth the shit wage?

I'm personally unaffected but my children will pay about £1 million more in inheritance tax when my husband and I die. To be honest, I don't begrudge Labour it - if my kids are lucky enough to be left £2 million in pensions they should pay some IHT on it.

Yep.

"The government is also developing a strategic plan for a more efficient and
effective civil service, including through improving skills and harnessing digital
technology to drive better outcomes for public services"

But OP will be safe. It is usually the older more expensive (and experienced) staff who get culled.

Tbh it was teed up and presented as affecting those with the broadest shoulders. I don’t know what people expected from a Labour government but it is classic tax and spend, given their manifesto then asset taxes were inevitable. They were elected saying that they wouldn’t increase income tax

I don’t think they really hid what was intended. The IMF have just approved it and the country needs a lot of investment. If it works then Reeves will be in line to be the next PM.

Nor will their employees.

The richest people are the ones who will be most affected by this budget. They’re also the people who own all the media in this country…
I don’t think it’ll affect me at all, and I look forward to the results of increased funding for public services.