What's in the Red Box? Roll up for the MNHQ Budget Day thread

[RowanMumsnet]

Hello

As lots of you will know, at 3.30pm today the Chancellor Philip 'Spreadsheet' Hammond will be presenting the government's budget to the House of Commons.*

MNHQ sometimes gets asked for comment from journalists on budget measures that affect families, so we thought this year we'd start a dedicated thread for you to let us know what you think as the nation gets its calculators out.

Some stories/guesses/leaks that have been heavily trailed in the weekend newspapers and this morning:

There's speculation that 'better-than-expected tax returns have given Hammond a £13bn windfall, reducing the need for the substantial tax increases' - but Hammond has stressed that 'the measures being announced would be contingent on the government securing a Brexit deal... in the event of there being no deal, he would have to return to parliament with an emergency budget setting out an alternative economic strategy for the UK' (The Guardian)

£2bn for the mental health crisis among children and young people by 2023-24, with headlines talking about 'a mental health unit in every school and hospital' (The Times, £; The Guardian)

A special Brexit 50p coin (The Sun)

Extra money for road and pot hole repairs, and a continued freeze on fuel duty (New Statesman)

An increase in the personal allowance to £12.5k, and an increase in the threshold for top-rate tax to £50k p/a (BBC)

A £650m 'Future High Streets' fund to 'help retailers adapt' as Brits take their shopping custom online, combined with a £900m cut to 'business rates for independent retailers' and a new tax for 'internet giants' (Daily Mail)

A possibility that there will be 'extra cash to ease the transition to Universal Credit when its rolls out nationally from next year' (The Independent)

Please do add any other stories you've seen, let us have your thoughts on the rumours so far, and (if you feel comfortable doing so) tell us how this will affect the people and things you care about.

Thanks
MNHQ

*'Spreadsheet' is Mr Hammond's nickname among his colleagues, apparently

Change to pension tax relief, death benefits

The idea of a Brexit coin is ridiculous

VAT on private school fees

Why discourage people from adding to their pensions? Depends what the changes are I suppose but surely it is a good thing to save?

www.theguardian.com/uk-news/2018/oct/28/philip-hammond-unveil-budget-interest-free-loans-problem-debt

This story is interesting. Government interest free loans. I know a number of people who have used pay day loans and have significant debt so would be curious about the details of this if it turns out to be accurate.

The Brexit coin is the most ridiculous thing I have ever heard. If that happens we will be a bigger laughing stock than we already are.

Just heard about the Brexit coin - this must be a joke? What a pointless, stupid waste of time.

So we have no credible economic plans for Brexit but we do know there will be a special coin to 'commemorate' it.

I'm starting to feel like I'm living in an episode of the Truman Show. This cannot be reality.

So we have no credible economic plans for Brexit but we do know there will be a special coin to 'commemorate' it.

Making future history teachers work for their pay trying to explain how we came up with our priority list.

What halfwit came up with a Brexit coin, that has to be a joke?

Quite possibly the most pointless budget in living memory given that all hell is likely to break loose in March 2019. Strong and stable this is not.

A Brexit coin. How much excitment can we actually take, here.

I assumed the Brexit Coin was an non-April fool/red herring - is it actually real!?!

Definitely need to start extending NIC onto occupational pensions and other "unearned" income. It's madness that it's just a tax on workers - we need to incentivise workers, not punish them.

Marking my place but I need to dash out to school shortly so I'll miss most of it.

A special Brexit 50p coin (The Sun)

Ah yes, that'll be the one that's worth 25p the day after Brexit.

BBC link for coverage if you want to watchalongabudget

Thanks for your thoughts so far

It would be nice to hear it over the childish catcalls and smirks which are drowning him out

I wish he’d just get on with it

Can't believe he's still trying to blame Labour for current finances. When will Tories take some responsibility for the state of the country's finances?

Every party always blames the other, don’t they? Don’t recall anyone ever taking responsibility.

Hearing him call Labour a "reckless and irresponsible party" when the the whole country knows what the Conservatives are doing to business in this country over their idealogical Brexit is hilarious.

The hard working families who are claiming UC are beginning to realize that they arent included in the rhetoric.

Mental health announcements ring a bit hollow given the amount that was cut from local services in the austerity cuts.
Basically they've committed to put some of those back, which will cost more than if they'd kept them in place.

They cant bring back the people who died as a result of those cuts though.

But it's alright, because we can get more weapons. That'll help