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.

And how have you ascertained from that link the cost is excessive? It says bedroom door replacement, how many bedrooms are there?

I had a little google as I was interested, it appears to be an 88 bed mental health hospital. They offer inpatient care and a PICU. Hospital doors are expensive, mental health hospital doors are even more expensive. As well as the before mentioned fire rating and robustness, they need to be anti ligature and open both ways so they can't be barricaded. They also cant be installed while patients are not in the vicinity so phased installation (your link says 4 months) which may envolve relocating patients on a rolling time table, having escorts for contractors, incresing prelim costs. I can see how they csn end up with £8k a door.

Its just rage baiting to post these figures without context.

Slightly concerned I'm coming off as some kind of door nerd, it just winds me up when big numbers are floated to get people frothing with no explanation or context!

Using your analogy then can I assume you have respect for the higher taxpayer for doing something similar?

I was a high rate tax payer myself for years until I retired early through ill health. But as a director I never took a penny of my salary in dividends, I took it all through PAYE. My co-directors thought I was insane (or just plain stupid) but I believe that it’s our duty. I was still left with far more than I’d earned previously, and I was happy to recognise my privilege and contribute towards education, or a sick child’s cancer treatment or a disabled person’s benefits because those things don’t pay for themselves.

So in short, I have no issue with rich people. I have an issue with rich people crying about paying tax.

Seems to have awfully quiet in the Labour fanclub now that the self publicized first female chancellor has been caught lying. Again.

A liar and incompetent. What a lethal combo.

If she has lied, then not only is she a liar, she is stupid, could have said "Look, we fixed the blackhole etc etc"

Now need tax rises to fix x y and z, starting with Dentistry, a vote winner.

Lifting of the cap was wrong, money should be targeted or at least just raised it to 3 children.

Well that was your CHOICE. That doesn’t mean others have to follow suit.

She lied through her teeth to the country, to the markets and to parliament and she’s still in a job. Kemi and the Tories are rarely right about anything given that they set their own records for incompetence over 14 years.

Buy Rachel Reeves has just blown it all out of the water.

Lying about public finances to raise taxes is basically fraud. The chancellor is a fraud. She should be prosecuted.

Given the OBR has got 15 years of forecasting data completely wrong, i wouldn't be so quick to jump the gun.
They even got this years growth wrong by 50%.

& it was the OBR who said she had a 29bn black hole in the first place......

Fortunately, for her, the bond markets seem to like her tax raising policies, the doubling of fiscal head room had to happen, which appears to be her defence, the £4.2billlion "surplus" just isn't enough.

That alone, will save us billions in interest.

OBR told her she had a £4b surplus, not a black any hole. That’s on the record.

She lied and defrauded the public for political gain. There is no other way to cut this.

What about increases in value due to extensions and improvements?

I accept that, though I’d welcome a policy change that closed the tax loopholes so that people didn’t have a choice. Most people don’t get the option to take half their wages as dividends, pay 20% tax and dodge child maintenance obligations. I don’t believe that directors should either.

And how did the family money come about? Through hard work. No benefits in East Africa. You work or starve.

What about for the first 3 years?

....& the OBR told her she had a 10billion black hole, 2 other economic think tanks told her it was 41billion.
the OBR also told her growth was 1% it was 1.5%, they have just had to re write their growth for the last decade or so, adding to fiscal woes.

A poster on here has made a career out of telling us all that Reeves has created a massive black hole of up to 50billion.....

Had Reeves left the headroom at 4.2 billion, gilts yields would have shot up and you'd be the first on here telling us all that she shouldn't have done that.

They'll now be 2 inquiries into her actions, lets see what they bring forth shall we?

Generally speaking, lots of corruption in Africa, Russia, China etc etc

The UK hates people who've done well for themselves. People automatically think they don't deserve it, even if they made it through hard work, sacrifice and taking risks.

I have some family members who started off with a market stall selling clothes and built a business by working all hours every day into a multi million pound company, employing hundreds of people and paying millions in tax. in tax. But under Labour apparently it's not fair and they should be squeezed until they have no more than the average person. They sold their business a long time ago and I do hope they managed to find a tax efficient place for their money.

Who'd start a business in the UK?!

Are you assuming they made their money through corruption? Where's your evidence for that?

That’s factually incorrect. It is on the record that OBR had told her she had a £4b surplus before she delivered the budget. She lied.

Congrats to your friends for their successful business.

What did she lie about?

If they’ve sold their business how are they being squeezed under this government?

@Woollyguru oh I’m quite sure if they were that savvy it’s nicely stashed off shore , I really wouldn’t panic that they might have to pay some tax , even though presumably if in UK they still use roads , hospitals, parks and line services like police or fire stations being there etc.

Yes I think that should be removed for capital gains tax if undertaken during the time there ‘at cost’

About the £22b black hole, which it turns out is a £4bn surplus. She concocted a story about the black hole to raise taxes so she fools increase benefits.