How are you feeling about the upcoming budget?

[Bess34]

Just wondering how others are feeling about the upcoming budget? I’m feeling quite nervous as my DH is a higher rate tax payer (approx 70k pa after overtime and bonuses) I work part time (wouldn’t be any better off working full time anyway) with 3 children and expensive mortgage (rent wouldn’t be any cheaper) we’ve not been able to afford even a week in a caravan in the UK and had to cancel DC school music lessons and modest Christmas presents are all on having to be put on credit cards. As it is when my DH tries to earn extra doing overtime most of it goes in tax and a reduction in child benefit. Just very frustrated at the thought we might be seen as ripe for a tax grab, just because most people without children on 70k live very comfortably on that amount

We don’t regret for a second having had our 3 children and I’m as proud as anything of my DH who works hard to give them a decent life from his own earnings! We sure as hell won’t be voting for any party looking to fleece us even more

So not tax then.

doesn’t answer my question. You must have realised that having three children would have an enormous impact on your outgoings and earning potential and you were surely aware how much tax you would pay. These are choices you have made.

Fair enough but then don't complain about how much tax you have to pay and that you can't afford the lifestyle you want, you are not poor, you are comfortably off compared to many/most people. Not that I want to pay more tax, but I don't earn that much either.

You absolutely are not net contributors on these figures (and presumably they were lower for several years too).

Do keep feeling hard done by, but you’re significantly better off than most.

Certainly not a benefits bashing thread, I’m glad there is the safety net, more so when it’s my own friends who I see benefit. All I am saying is why are those on UC considered super poor and those who are barely any better off considered super rich, it doesn’t make any sense, do you have any idea how demoralising it is for people to work there way up to then have most of it snatched away in tax and be hardly any better off than if they had not bothered

Sick to the back teeth of all the whinging and will be even more fed up when it happens and the whinge fest goes Armageddon.

(It’s roughly £17k per year in tax per person in a household to be a net contributor.)

MOST OF IT IS NOT SNATCHED BACK IN TAX.

I don't think I want to think about the budget.

However, I think people need to stop living to their means and focus on underneath it. Too many people live to the top end of their finances. We're in weird times.

And you actually have 4 children?

You are making your point so eloquently.

But most of your money is not snatched away in tax and when all of your children are in school full time your costs will be lower and you could consider more hours.

Getting fed up of OP’s hyperbole.

So please explain how over our own and our children’s life times we are not net contributors as our children will not doubt work and pay tax when they are older too. Most people pay far less tax than us, so how would that work if we are a drain then most of the population most also be even more so. Where has the money come from all this time??? Myself DH have not even been to the doctor in years, neither have my children except for routine vaccinations.
Surely if what you were saying made any sense the country would be very rich if people had stopped having children along time ago? Interesting theory, please tell me where you got your degree in economics ?

Hang on. She’s not complaining about the taxes she does pay, but the possible hikes in the budget. As a “working” person, Labour encouraged her to believe that they would be on her side and look after her interests. Not shake her down.

not Sure you can classify yourselves as net contributors based on the hypothetical future earnings of your children…
has your nursery aged child already expressed an interest in pursuing a career with huge earning potential? Actuary? Magic circle Lawyer? Working for the big four? …

She is complaining about the tax she pays now - most snatched away in tax apparently.

I do think raising the next generation is a productive, pro social thing to do. And they are doing it without any special top ups. The implication that the OP isn’t pulling her weight is distasteful.

I actually do have post grad-quals in economics and statistics. 😂

www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/theeffectsoftaxesandbenefitsonhouseholdincome/2024

No one is saying she is not pulling her weight, rather that there are costs associated with having three children which dramatically affect disposable income. This is choice op has made.

20k is a very significant portion and about 20k more than our disposable income after giving our children what most poverty organisations would consider are the basics, can totally understand if we had the money for all inclusive in Mauritius each year but I’m talking about enough money for my children to have a 30 minute music lesson offered by the school and to not buy a modest Christmas present for them on credit. I think you’ll find your far left ideology of trying to wear down anyone who tries to work hard to afford anymore than the absolute basics will work out as well as if did in the countries that tried it. Hopefully there’s not enough of you to lead the country any further down that path.

The OP isn’t actually paying any tax……….

Well if people like you have anything to do with public policy we’ve got no hope, economists who believe people who are having children and fully supporting them plus paying a shed load of tax and whose children are also growing up and paying taxes are a huge drain 😵‍💫😵‍💫😵‍💫

All these rich people moaning whilst those of us living in poverty just get on with it. What a hoot.