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?

Your expertise is economics, Brananan?

I suspect schools are about to shed even more of the last standing TAs ... which will make them worse for the incredible number of children in mainstream schools who need extra support for a variety of reasons.

Schools will struggle to find the money to pay for the payrises that will need to be made to keep them above minimum wage AND the corresponding NI contributions. Another unfunded mandate.

You appear to have quoted the wrong person. Unless you too believe the only impact of the budget relates to VAT on private school fees??

I'm curious to see what the people that are unhappy with it would do differently.

Oh well, if hubby says so then of course we must defer to his superior opinion.

Precisely because there is no extra money coming in for them into the Treasury.
50,000 leave indy schools = schools budget has to be spread even thinner to fund £375,000,000.

Nohugspleaseandthankyou · Today 10:53

I'm curious to see what the people that are unhappy with it would do differently.

Quite. As the Chancellor correctly said, whoever was chancellor, of whatever persuasion, would be having to correct the complete ineptitude of the previous Government. The difference being that Hunt would have favoured tax cuts to the wealthy and a continuation of the running down of public services.

We’re well off. We’ll be paying more taxes, as we should in the circumstances. The poorest have carried the burden for far too long. Time to redress the balance.

'@ChardonnaysBeastlyCat
You will be affected. It just won’t appear on your payslip.
Businesses be passing on the increase on the customers.'

The 'business will pass on the increase on to customers' is a bit simplistic.

Unless a company provides something really essential, customers can vote with the feet and simply stop purchasing products and services that are 'nice to have' but not essential if businesses take this approach.

Or customers will reduce the frequency of purchase and/or amount that they buy.

so unless these business want to fold they need to be realistic in their pricing.

The poorest have not carried any of the financial burden as they pay very little, if any, tax.

You really should tell us his name so we know to avoid his advice 😱

It's not worth it, my last 2 companies contribute plus my contribution equals 17%-18%. 3% would be for very small basic companies I imagine, I work in wealth management so good pensions, good salaries and benefits. I can't imagine people thinking it's worth living on those low salaries for the sake of a pension you might never live to see. Maybe that's just me.

As I said before, schools and other public sector bodies are going to receive additional funding to compensate for the NI increases.

Oh dear. Customers stop buying. But if prices arent raised the busibess can't meet their increased overheads. Margins aren't met. Businesses fold. Staff made redundant. Economics 101!

ChardonnaysBeastlyCat
Oh well, if hubby says so then of course we must defer to his superior opinion

Unless you’ve economics and maths (and physics) degrees and 40 years of market experience, yes, you probably ought to. His opinion is based on expertise and a very successful track record. What’s yours based on? Daily Maily/Telegraph comment?

Not affected YET. Just because they didn't raise the main taxes such as income tax now, doesn't meant they won't raise it next year. She already said that further tax raises are not ruled out.

That's what I think.

Brananan · Today 10:59
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The poorest have not carried any of the financial burden as they pay very little, if any,

VAT and inflation disproportionately affect the poorest.

He's talking out of his arse, if he's even real.

We will be making efforts to mitigate things that will affect us.

The problem for me is that I have zero faith that this extra money will make the difference people think it will. For example they have already given pay rises without any requirements for increases in productivity. Extra money for the NHS but is this going to be accompanied by efficiency savings? Most of the money will disappear into a black hole.

They are already looking at more hotels for asylum seekers. What are they doing to 'stop the boats', all seems to have gone very quiet.

BTW those that think it won't affect them are wrong it will however the worst is yet to come as council tax is next on their list.
Now that will affect everyone.

He's talking out of his arse, if he's even real

🤣 very real, very experienced and very successful.
Again, your expertise is economics?

Oh dear. Well, I suppose he can retire soon without losing face, if he's been working for 40 years.

Pay rises should not be predicted on efficiency- if people are on their knees they can't do more

Efficiency has limits that are only broken through investment in new tech

@ChardonnaysBeastlyCat you've had the invocation of the husband

OBR or them take your pick ;

Spirallingdownwards
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You really should tell us his name so we know to avoid his advice 😱

Pathetic.
You don’t like paying a bit of extra tax, I get it. No need to insult the expertise and proven track record of someone you don’t know.
Your contribution to society is what, exactly?

This country has been fucked over for the last 14 years.
If we carried on in that trajectory lord knows the state we'd be in in 10 years time.

Something has to change - it won't be perfect and people will always complain, some will lose/gain but something had to change.