I'm unbelievably ill informed and stupid.

[Lola247]

Can anyone explain the budget to me in simple terms please?

Cringeworthy.
Not "cringe", that term is so misused.
Anyway. 14 years of Conservatives, somehow things have to get sorted and it's not going to be pain free.

"There will be higher taxes if you make profit from unearned income like shares, property sales or through inheritance."

Sad for them. Maybe they can buy less avocados or takeaway coffees? Maybe take in some washing?

Exactly this. Everyone seems to conveniently forget this part.

👏🏼👏🏼👏🏼😂😂😂

Best comment so far!

They lied. DH and I have worked all our lives, and DC now work too. If we die, DC will have tax to pay on the amounts we've saved in our pensions throughout our lives. That's taxing working people, on money they've earned and saved, for the benefit of themselves and their families. Kind of wish I'd spunked more on holidays and cars, instead of making do and saving.

First, I am not a Labour voter, but I think it was a remarkably good budget in the circumstances and certainly better for the country than any delivered by the previous Tory Chancellors.

As proof, the markets like it and (as Truss and her Chancellor found out) that's all that matters.

As for "Labour lied", just remember party election manifestos are not documents sworn upon oath and circumstances alter cases.

For the first time in a long time, I am starting to feel optimistic.

Labour can't have been doing a very good job in Opposition if they didn't realise this. Shows how little they held the government to account.

🙄

Just read this and ignore the rest of the histrionic bullshit from the financially illiterate

You mean like Labour did when the Conservatives took over in 2010? Remember how quickly everyone told them to stop blaming Labour and just get on with fixing it? Right back acha, Labour.

Labour hate anyone who isn't either poor or a Public Sector worker
Thats basically it

Also they need to find billions to compensate people affected by the Post Office scandal and, even more so, the infected blood scandal.

Serious question: are shadow ministers allowed to view detailed budgets and confidential government documents?

This is worth a watch. Apologise if I'm duplicating earlier PPs!

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That's some ridiculous gymnastics to avoid blaming the Tories for years and years of financial fuck up and gross mismanagement. They knew what a mess they were leaving and didn't give a toss about it.

Regrowth is NOT going to be painless.

Public services might not be in austerity, but everyone else is. Public services are still as shocking as they were when they were funded by Labour the last time, despite having had better funding then, apparently.

Dunno, how long did we give the Conservatives when they took over from Labour the last time, having gone from a financial surplus to "no money left"?

My family (2 working adults 2 children) are better off by £39 per year as per the Guardian calculator. This is all I care about

What does this even mean?

I have lived in this country since 2011 and I can tell you that everything here has gone way downhill since that time. It's really sad.

i don’t understand how your estate includes your sold house value..so two people 650000. But people also say two people plus house can be worth up to one million pounds before forty per cent inheritance tax.

I'm no labour supporter, but I agree that the money has to come from somewhere, and believe the Tories would have had to do similar things - I also don't think they lied, they said nothing really except about Employee NI as you say.

No, they spent money they didn't have as soon as they got in to office.

Don't know. But they don't need to. They see the Budget, they see the accounts for each department, they see every single announcement the govt make, they see the OBR forecasts. They can also use FoI, PMQs, Ministerial Questions etc, there is no excuse. Doesn't take a genius to add them together and see there is a massive gap.

That's if there is a gap and if there is, that it's down to Tory mismanagement. The blood scandal is estimated to cost 12bn so half of that black hole - don't think they can blame that on Rishi.

A lot of bitter Tories on here.
It's heartwarming to see people not lapping up all the anti labour rhetoric from the Tory owned tabloids.

After what the boomer voting, and on a personal level, landlords, have done to me over the past year, leaving my mental health in absolute tatters, I'm tempted to just rename Labour 'Karma'.

Only if you leave them over £1m its tax free to that level, assuming you are married when the first partner dies....

2x threshold of £325K = £650 K

2x RNRB assuming a house is in the mix = £350K

Nothing changed apart from the pension - but pensions are primarily to support you and your spouse in retirement, not to pass on to children, draw down the money and enjoy it!