Absolutely rinsed in this budget - almost £1k a year worse off.

[Mushroo]

Honestly in despair at this government. On a very high level calc, we are so much worse off!

We both pay a lot into pensions, so the NI change is about £700 a year worse off.

We have an EV car, so based on our 4k a year mileage, it’s about £120 a year. (Although how it will be enforced I have no idea).

Stagnating tax thresholds, probably about £100 a year between us.

Council tax F house (4 bed end terrace, not a mansion, needs renovating). So risk of revaluation after having paid a fortune in stamp duty. We didn’t get first time buyer stamp duty relief because we bought about 2 years too early, and we moved before Covid so no relief there either. So overall we’ve paid about £30k in stamp duty already over our lifetime.

Weve already had the private school hit (which is a separate debate and we’ve accepted that) but wow, we are just being kicked on all sides.

We are classic ‘middle earners’ - earn about £70k each, but have mahoosive mortgage and pay over £2k a month in nursery fees already.

Every measure just seems to have a negative effect on our lifestyle, which is ‘comfortable’ but increasingly squeezed.

But the question is will this extra money break the cycle? It will be interesting to see if there are measurable benefits in term of school attendance and achievement, health measures, social services involvement etc. I think it would be a very hard hearted person who would resent children getting money which funded clear improvements in their quality of life, health prospects etc. The concern I think some may have is will this money make a real difference, or would it have been better used in school to support targeted interventions, given to food banks, to services which support children with disabilities and other needs, to targeted health support and children's centres for early intervention.

Because those services no longer exist on the whole

thanks to the last govt

No, you have to apply for it. DH and I both have the same disability at a similar severity. Only I claim, and that took me many years to do - partly due to challenges in process and also applying meant I had to admit to myself that I had a disability. DH doesn't claim despite being eligible - my PIP generally covers the specific additional costs incurred due to both of our disabilities so we didn't feel right for both of us to claim.

We do have some targeted support for pupils on low income (pupil premium). The area I work has lots of children's centres. Although many are under threat of closure currently (under a labour council and labour government).

However, my question wasn't do we or don't we have these things. But whether lifting the benefit cap the best way to improve life chances for these children. The post I was replying to stated that children are struggling due to being born to 'uneducated families making poor choices'. Will these families use the extra money in a way which breaks the cycle? The poverty trap isn't just about pounds and pence, it's about attitudes. Families I work with, yes the extra money will hopefully enable the children to have a better quality of life day to day. But will it make a difference to their outlook, aspirations, long term prospects?

Where do you live and have a much are your mortgage payments?

She said in her speech that lifting children out of poverty meant the tax payer wouldn't have to pay for them later on . I think she meant things that poverty affects, like health, education and therefore life prospects.

I live in the SE and therefore have the exact problem you describe. But there are still choices and people who choose to get a massive mortgage that they can just about afford are in a risky position if things change. One person might get sick, or worse, a job loss, a big inflation increase. Why take the risk? What I see is people buying property and then building massive extensions, hence huge mortgage. That’s not ‘necessary’ that’s a lifestyle choice.

Well, it's nice to see a politician thinking further ahead than the next election, even if that runs the risk of another party taking the credit for the results.

@WatchThisGladys the best way to get children out of poverty is to have parents in work. This government has done an extraordinary job in collapsing jobs growth and economic activity in general.

Yes, I read it would be charged alongside road tax so that makes sense

OP You’re being hit from so many angles at once, and it makes total sense you’d feel frustrated and worn down by it all.

When you’re doing everything right and still getting squeezed, it’s incredibly disheartening. It’s completely understandable you feel this way

How on earth do you afford private school on that salary?

why aren’t you getting your 30 free hours for nursery?

You lose sympathy as soon as you describe yourself as a middle earner.

It's completely shit that we're all worse off right now. But at 140k between you both are still far better off than the majority. 140k a year is a huge amount of money but I do understnad that people spend based on what they earn and to feel squeezed when you should be feeling extremely comfortable is maddening

You’re not middle earners and you know it. Get an absolute grip. If you don’t want to pay road tax, stop using the roads. Your EV uses the surface just like my petrol vehicle. Take your children out of private education if it’s all such a squeeze.

It's around 250 per child per month . Youre thinking of child benefit. At least the ones that get to keep it. Most of the non working families will have it removed By the overall benefit cap.

On £70k per year each, you are not middle earners! You are in a very privileged position and you sound really entitled. Either that or your post is a joke.

Thought might be 100k but it's combined. My childcare was 1500 for 2 kids part time with hours.

The pension piece is particularly bemusing. They don’t WANT people to receive State Pension, due to ever increasing OAP’s so why oh why penalise occupational pensions.

Madness

Awwwww nooo poor little rich girl

#hugzandprayers

I would recommend you count your blessings. While its not ideal if it means the NHS waiting lists come down, our schools get better funding and the country starts to improve, I'm prepared to invest in that.

Your mileage would be recorded when you start & end the lease & you’d have to pay on the difference.

This ^
Of course you're being squeezed, and you bloody well should be. The country's on its knees and someone has to pay for it. Should it be those that are struggling to keep a roof over their heads and food on the table. The millions of children in poverty or those that can afford to have 4 bed homes and private school?
I'm comfortable too, and have done well over the last 15 years to own property and have savings but I'm not narrow minded in not appreciating that that has been done on the back of some uncomfortable cuts and choices. Times up... it needs paying for.

Oh no. Not £1k a year!

Kwasi Kwarteng’s budget left a lot of people who could far less afford it £1k a month or more worse off on fairly standard mortgages.

Why should she. So sick of the continual attack on the people who actually pay taxes in this country. Leave the hard workers alone!

Yeah, not sorry for people struggling to pay mahoosive mortgages for mahoosive houses on large salaries at all. You are exactly the sort of people who should be paying more tax. Less than £1k out of your £140k income? Cry me a river.