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

Why do you think you know everything about everything and everyone else is clueless? You say membership ONLY costs £13.25 but then make out like I’m insane for suggesting you use your membership because petrol costs money 🤯. Why have NT membership if your kids don’t like it and you can’t afford to visit? If you cancel the membership that you have a low opinion of, your kids don’t like, you don’t want to use and can’t afford to drive to, maybe you’d have petrol money to visit the cinema once a year. You are absolutely bananas

She’s not pretending she knows everything - she has just thought about the ins and outs of her own financial situation.

You can’t just cancel it before the end of the term. I don’t have a low opinion of the NT membership,

I agree with you.

People who have huge incomes complaining because they don’t have enough money …. Because they spend it.

I am in a modest income bracket (by mn standards) but because DH and me are sensible enough to live within our means we feel comfortable…. It blows my mind how much people waste - look at the examples by the OP, who then can’t understand where her money is going …..

Fucking dreading it. I also miss Rishi Sunak. All my friends discussing where we’ll move to.

I am on benefits and am trying not to worry. If any big changes get made then I will be told directly I hope and not by the press.

I completely get where you are coming from. We are in the same situation, but only 1 child. Just because we can sacrifice things and 'will be fine' doesn't mean it is right. A few years ago before we had our daughter we were on a lot less money and could save more. With the cost of living crisis we are living the same life so its only natural we are going to worry about things getting worse. And its also a kick in the teeth when your husband is working all the hours under the sun to provide so we can have little luxuries then child benefit is taken from you. Cost of living has gone up but the thresholds stay low and just don't cut it anymore.

This is ridiculous to say. There are plenty of people who don't work at all and take more from the system.
The point of this post is no matter how much we try and better ourselves, no matter what our situation is, more is being taken away from us and its so unsettling to think it could be happening again. Not for people to tell her what she can get rid of or remind her she chose to have 3 kids. So what? She also pays for them.

OP working only benefits OP and her family. She is paying nothing in but taking out. Her DH’s tax won’t cover the costs of educating their children, healthcare and other public services they use. Presumably with salary of c£70k there wouldn’t be any benefits if OP gave up that work.

Yes, lots of people take out and don’t put in. I’ve addressed that in other posts. But they aren’t on here ranting about tax they aren’t paying.

It’s not a privilege if she works for it! FFS. All people want to do is point to someone else further down the chain and say “see you’re lucky”.
it is not unreasonable to expect MORE for your family if you work. I think what the OP says her kids have is bare minimum.
As I’ve got older, I’ve realised the left want you to have eff all. Like any aspiration for a good life is somehow crapping on the person below you.
I want EVERYTHING for my kids. I had a council estate/state comp/no car/no holidays upbringing and it was rubbish.
OP - you are not wrong to look at the tax take and more importantly, the reframing that you are wealthy and question it. Keep maxing the earning power of your family and slowly but surely keep improving your quality of life. It can be done. Your kids are lucky to have two working parents who are making extras happen for them, despite the headwinds.

Stop it. Of course she pays tax.

And why is child benefit taken away at a certain earning point, but state pension isn’t for pensioners at a certain income point?

Because child benefit is a benefit for lower earners

state pension is a pension that pensioners contributed too - they saved for - and if you didn’t have full contributions you don’t get it. Not all people of pension age get state pension

pension isn’t a benefit and you will be glad of that distinction when you come to claim your pensions _ imagine @GogoGobosaved in her pension but the pot has been mismanaged so we will only give her a fraction as I think she had enough

because pension isn’t pension credit - the kind of benefit you get if you haven’t worked and saved all your life

Would making packed lunches instead of having school dinners save you some money?

I think RR should increase the basic level of income tax, even just by 1%, as that would raise more money than just raising the tax brackets at the top end.
That's also the fairest way as then people most are contributing, rather than the same few.

Low rate tax payer and don't have much saved, so feel fine.

Paying £350 in childcare for a wage of £800 is your issue. I would find a weekend job or an evening/night job.

How many hours do you work? I also wouldn't be using credit cards for Xmas.

I don't understand why tax has to go up because we are paying for people who have contributed nothing. Maybe if they reform the system so you can only get something out if you've put something in, in the first place. The other option would be to put in place a works program for all immigrants, ie, rebuilding UK's antiquated infrastructure.

Has the UK become a charity for the rest of the world?

I know you are all thinking, 'what an uncharitable bitch!' but what's to say that taxes won't go up again next year to meet the cost of housing and supporting all these people? I am fed up with struggling to make ends meet and pay bills while others sit at home on 'benefits' which working people have to pay for.

Feeling rubbish. Just waiting for Labour to shaft us and blame everything from conservatives to Peppa Pig for the privilege!

Not that we can do anything about it, the general public wanted them in… sigh

D day

We have 4DC and are at the very expensive teen/uni stage, pay a hell of a lot of tax already between us. If we can afford to stay here we will, but if we can’t, we will have to go work abroad for a few years/put kids in free unis elsewhere. It’s OK, we have accepted it. We have realised that life is about making good long term financial choices primarily and sometimes you just have to cut your losses.

Where are Unis free in the world? Apart from Scotland…

Germany has unis with no tuition fees, for example. For us it would be cheaper so we are considering it. Switzerland has some unis. It’s all cheaper than here.

True but if you’re not fluent in German I imagine it would be hard to do a degree there. Plus now we aren’t in the EU most people can’t just move there.

I'll be reducing my pension contributions, I only upped them because it was done via salary sacrifice. If I no longer save anything then why should I invest more just so they can pay more in child benefit.