Autumn Budget

[OccultOctopus]

Key points so far:

• Upper tax threshold dropped from £150k to £125k
• Other tax thresholds frozen until 2028
• Windfall tax on energy firms to go up to 35%
• Electric cars will have to pay VED from 2025
• Review of a further pension age rise brought forward
• More people on UC to be given 'support coaches' to help them find work
• Spending squeeze on all depts except health

Is the minimum wage rise starting now? Or next April when it usually goes up?

• Rent rises in the social sector will be capped at 7% in the next financial year
• Lifetime cap on social care costs in England due in October 2023 delayed by two years

It's the National Living Wage and it's April next year.

Jeremy Hunt confirms energy price guarantee will rise by £500 to £3,000 for 12 months from April.

Extra support for poorest includes £900 for people on means tested benefits, £300 for pensioner h/holds and £150 for those on disability benefit.

@OccultOctopus this is a very useful thread, your posts are much easier to understand than watching it live

@Sadless he was given bad advice. Uc gives and overall figure then deducts based on what wage you receive at a rate of 55p in the pound. Working more hours benefits your overall income

thank you

Everyone will benefit from the NI change though. Not just the highest earners.

The reason the highest rate kicks in at £125,140 is because you are basically taxed at 60% on the £25,140 earnt over £100k

Everyone will benefit from the NI change though

This is true, though it is hard to think of it as benefitting: the HSC levy was only around for 2 mins before being scrapped. It's more like a return to a few weeks ago 😂

£900 is pretty good?

and highest paying more, plus WFT

Schools and health getting more too

Im on just over minimum wage. I dont think its worth working.

I agree @MarshaBradyo

They are not my party or politics but I was expecting this to be much worse.

It's OK. There are some things I don't agree with but overall, it's not as bad as it could have been - allowing for the fact that Truss etc shagged an already poorly economy with an ego trip that we'll all be paying for.

A further pension age rise!
Those in the public sector do not get their private pension until state-age retirement. It is going to be worthless at this rate.

Yes, working age benefits and disability benefits will all go up by 10.1%

I don't think this is guaranteed. Just the review of it is brought forward.

But I agree, that review is almost certainly going to result in an age rise for state pensions. If they do that, I hope there is real effort towards helping people stay in work, such as tackling ageism across the working sector.

And increasing opportunities for good, part time work to help people move into retirement in stages.

any mention of the benefit cap?

So, the capped average energy bill is raising by £500 and we have lost the £400 subsidiary. Presumably this is how they arrived at the additional £900 figure for those on means tested benefits?

Those on £15k will gain £30 a year, £92 for those earning £20k, £470 for those earning £50k and £2.5k for those earning £200k. Seems pretty regressive to me and I am set to benefit.

Thanks for confirming that one

Not sure about pretty good but it is welcome and much needed

@AlwaysWalkingOnEggshells benefit cap to rise. Don't know how much by. Need to wait for the published figures

£900? Sounds good to me. We’re not getting it though. I wouldn’t say no…

That £30/year will really be a big help to people on the lowest incomes

I’m happy about the nuclear power I think we have to do that (and I’m a Labour voter) but we also need a massive investment in green energy and creating green jobs.

where is the childcare help to get all these people back into work? I