The budget now rubbish it is

[Noras]

my post should read how rubbish is this budget!

So I will only get a state pension and income from an investment property for my retirement ( monies from an inheritance ) as I have looked after my disabled son. So the Gov have gone against me as ever.

But have they gone against the extremely wealthy or huge corporates that exercise price transfer re tax tax or use franchises/ loan agreements etc to legally avoid tax?

Nope.

I actually loathe this government now. They always shield the wealthy and go for the middle classes. Those with a bit of bank interest or a single asset let’s tax that more - easy pickings.

After the savers and often pensioners, extra tax on savings income. Why do they not want people to save to support themselves in old age? The message is don't bother to save rely on benefits.

Or invest in a pension?

If you are young enough, current pensioners are reliant on what they have now. So they take potentially a 4% cut in income

Well you asked whether or not they want people to save for old age- I’d suggest they don’t, really.

Yes don't bother and rely on benefits.

No they don’t want you to save in a bank account. They would prefer active money used for investment, like a pension.

And that may be fine in retrospect but many people didn't have those options in the past. And investments are scary for many people, and actually unpredictable. Recently they have been good but there are crashes sometimes why should you be penalised for going for a (usually) lower return but safer option?

But maybe the message is don’t take this lower return option because you’ll be taxed more? As you say, it’s too late for current pensioners but these decisions are made for the long term

Oh the irony of someone who is wealthy enough to own an investment property and talks about being able to invest abroad and 5% of said investment being enough to live on annually complaining about having to pay tax.

The OP sounds positively loaded.

Labour just have zero plan or ideas of how to fix the country.
Surely they need to go back to absolute basics and get people in place immediately who understand the debt crisis we are in and the astronomical interest we are paying

When is someone in power going to call a national workers strike. How can they justify putting benefits up when people working full-time are struggling to survive.

Poor you having to pay tax. Want to share how much you've taken in benefits over the years?

I pay tax on my company pension. Not yet old enough to get state pension. Everyone who earns over the threshold should pay tax. It's what society is built on.

Threshold at which High Street shops start paying business rates in England to be increased from £12,000 to £18,000, meaning businesses would pay no rates on properties with a rateable value below this level

So having thought about it I have realised that a lot of people who might have voted Labour won’t. They have attacked some of their own without thinking it through.

In particular it’s those who had small work place pensions ( not public sector and before compulsory company pensions were brought in so in their 60s) They might have got a small inheritance and bought a flat to rent out having for example previously worked as a carer on minimum wage or in Tescos.

The Gov is composed of lots of people with juicy public sector pensions so have no idea.

It would have been fairer to have introduced a sliding scale of tax increases on landlords - although the larger ones are incorporated so still paying corporation tax at 19% - that’s the point - they have gone after the small non professional landlords.

This budget was always going to be unlikely to address benefits. The government are waiting for the final outcomes of the Timms review into PIP spending before taking action to address its ever rising nature.

A heck of a lot of people don’t vote dependant on how it affects their own pocket. I certainly don’t. I want a fair society with effective, fair taxes. Those are highly likely to affect me negatively (hello mansion tax!) but hey that’s life.

Yes but you are not so dependent on the loss of monies to mansion tax proportionate to someone with a low pension having worked at say ASDA and a small inheritance which they invested into a BTL flat now paying more tax.

As for me, I will vote for anyone who can stabilise the economy thus allowing it to grow but I believe that Labour is exactly like the Tory’s and won’t tax more the uber rich.

According to the HMRC in the 2024-25 tax year there were 2.88m individual and partnership Landlords paying tax on property income.

Reports have shown that Landlords are three times more likely to vote Conservative than Labour. Only about 12% say they will vote Labour.

So approximately 300,000 landlords are potential Labour voters.

Labour voters generally are* *more likely to be for "more tax and spend" to improve public services. 58% of people who voted Labour in 2024 prefer that approach.

So of the 300,000 Labour voting landlords 175,000 will probably be ok with the increase in tax. That leaves 125,000 who might not be quite so pro it.

Labour had 3 million more votes than the next guys in the 2024 general election.

Its the usual I want to pay less tax so make that person over there pay more.

Its okay - Baked beans and Gherkins will be cheaper. Chin up

Just how many shop workers on minimum wage do you think have sufficient inheritances to invest in buy to let flats OP?

Minimum wage workers generally aren't landlords. They are struggling to pay rent or get on the property ladder partly because so many houses have been brought up by buy to let landlords.

That's overly simplistic when you consider trends of reduced rental stock as those become homes on the buyers market, air bnbs or second homes

the reduced availability of rental stock is undeniable and therefore, when prospective new landlords, or existing landlords across the UK decline to invest in a private rental property, it does nothing to stave the decline in rental stock

sure, you can negate the effect by looking at OP is a single data point outside of any wider attitudinal reluctance - driven by a combination of personal finances, the state of the economy, property prices, long-term ROIs etc, then OP's stance becomes multiplied by many orders of magnitude - that's a different scale of effect on rental supply - which exists as a subset of a largely fixed total housing supply due to miserably low rates of new build as a % of need.

ergo, flipping the above reticence to engage on its head, if a sufficient glut of prospective landlords went through to the purchase of properties for rent and released them to the market, the dent in the rental shock shortage would be much larger. A lot of new build developments aren't selling right now, but most of those new builds were never getting into the hands of current tenants trying to get on the ladder anyway.

The focus on demand for housing is being misdirected, there's not queue of people vying get on the property ladder with their 20% deposits in their sweaty palms and having their cash refused.

There's a glut of people who are likely never to own, but not enough rentals for them to access at anything like liveable rent

This is not about me. It’s about the fact that the Gov always go against the middle classes and working classes as the easy target.

They set the cat amongst the pigeons as you are doing which is a decoy.

This is how the multimillionaires distract as do the huge international companies.

Are you yoda??

From the Bahamas to Singapore, many companies are registered in tax havens – despite doing little or no work there. Jasmine Owens explores.

Taxes fund essential infrastructure like schools, healthcare and roads. Like citizens, companies benefit from use of this public money – company workers are kept healthy by the NHS, and products get from A to B on motorways built by the government, all funded through taxes.
But many big companies don’t prioritise giving back a fair share of their earnings.
According to the Tax Justice Network’s 2024 calculations, the UK government loses £33bn a year in taxes to multinational corporations and wealthy individuals moving their profits and finances abroad. That’s around half of the UK’s entire education budget each year.

This country is obsessed with bricks and mortar as a route to wealth. It’s not. It’s putting all your eggs in one basket and if the market goes against you (including political sentiment) then losses will follow. It’s always had risk attached to it, and I have little sympathy for those who have pushed up house prices through owning multiple properties and now complain when it’s not all going one way.

It is far better investing in the market in a well diversified portfolio. At least your funds are supporting business growth then, and there are tax incentives through pensions and isas too. And if one part of the portfolio does badly, then it will likely be balanced out by another part doing well.