The budget will be 'painful'

[darada]

We're going to get absolutely bent over a barrel aren't we?

I fear the middle classes are going to be hit hardest because the poor don't pay that much (not unreasonably) and the very rich have access to accountants, lawyers and advisers and therefore will wriggle out of having to really pay.

I don't mind paying my fair share but I fear we're going to be squeezed and the money is going to be wasted a lot of it.

Anyone else feel a tad dispirited like me?

I totally agree that taxing the super rich is the only way to address wealth inequality. That and a total re-think around Education, lets face it Michaela get results far better than just about all state schools and many private schools on the same budget as everyone else but the left don't like that.

Increase state pension age?

Increase state pension age?

No.

Because you're already exhausted by the time you're eligible for it.

And don't forget, women in general already carry the double burden of the domestics and working.

And in my case, solo motherhood - no input from his dad at all - and taking care of ageing parents later on, as well as holding down a job.

I agree with you, but I think they will do it.

They won't be able to though. The super rich know every way to get away with paying the least tax possible as will continue to do so. The people who will pay will be the well off not the super rich. Which is fine I guess but these people (including my family) already pay the majority of tax. Again that is fine but when you see people (and there are a lot of them - I know of many including people who are working for cash while claiming) who are milking the system and not putting back into it while you work your arse off it smarts a bit! I am all for paying for the vunerable but there are a lot of lazy people out there and don't kid yourself it is a tiny amount. Sure it may be 5 or 10% but that's a lot of people who could be contributing but are just taking. If we are in trouble as a country everyone who can should be paying. Labour seem to be stepping up to the mark to try and get this to happen though. Hopefully they will do better than the shitty Tories.

Yes I think they could. Those that can no longer work will be forced to continue claiming out of work benefits for longer which are generally much less than pension age benefits ( including state pension). Those that have decent private pensions will be able to retire sooner and live off their private pensions. Those that have savings too much to claim working age benefits will just have to live of savings until the later state retirement age pension kicks in. Most people are really struggling to carry on by 65.

Why? In Australia the state pension is means tested.

what about everyone pays the same tax rate in the same bands? So pensioners should pay national insurance if they continue to want to be insured by our welfare system. Self employed people should pay same tax rate and national insurance as employed people earning the same. People earning via dividends or capital gains should be taxed as if you got that money from a wage packet. And you should have to pay national insurance if you make your money via dividends or capital gains, the same as if you had a job.

They should also cap tax relief for pensions to an amount that would give a comfortable middle tier retirement.

Some really appalling and saddening attitudes to those who are disabled here. I don't even know where to start on the snidey comments about "hidden disabilities" as though they aren't as bad as visible to the naked eye ones.

I do wonder if you realise how many people would be entitled to benefits but don't actually claim and then struggle financially due to attitudes that are displayed here. It's a huge amount by the way.

My son and I would both have been entitled for the last 20 years. We never claimed though as honestly I felt too ashamed, didn't want to put us through it and felt we could manage.

My husband however suffered from a life changing brain injury last year which left me with no choice but to claim for him. The process is completely humilating and I would do anything to not be in this position. Nobody chooses this. I would be entitled to carer's allowance due to his injury and the amount of 24 hour help he now requires. I don't claim it even though I should.

A bit of empathy wouldn't go amiss. Don't be envious of those you think are raking it in on benefits because I asure they are not and believe me, from the outside you know absolutely nothing about how their disability affects them. No amount of money makes up for having to deal with a disability. Maybe instead be thankful that you are not in that position. Have a really good think and maybe also realise that one day this could happen to you. Yes really.

Without supporting either party ---- Which I definitely don't.
The labour party; taking over from the conservatives, generally expect to have a healthy bank balance, which they then spend.
This year, because the (worse than usual) conservatives, have left them with a deficit (which they definitely DID know about before the election). They have been stuffed.
I really hate the system (but at least it's not as bad a Americal) but this is what we currently have. The Labour Party do not have the finances left for them to use and they are going to shaft (most of us) (everyone) (????)
Because they don't have a fucking idea

As pp said, I wouldn't be at all surprised if retirement age was (eventually) increased to 70.

I also wouldn't be surprised if universities will face cut backs and increased scrutiny.

I raised this point years ago, but, also a lot of people were cashing in during the pandemic by getting furlough payments then taking other jobs. I know Many people needed to do so, but let's face it, many others were booking holidays and buying dogs with all the money saved and earned. As someone who had to work through the lockdowns, I don't think it's fair we have to be paying for something we couldn't use.

But making being a private landlord less attractive just means.there are;fewer properties to rent and do the cost of renting increases. The tories already did this. Many smaller landlords found it not profitable any more and got out and that's contributed to rents increasing. What they need to do is bring back lots of social housing so there are plenty of places to rent at a reasonable cost.

I'm scared about getting my kids thru uni as it is. And working til 70. I'm looking at retraining...

Rents are spiralling because the previous government made it unattractive to be a landlord. It’s already taxed very heavily and become uneconomic for many. So many are selling are there’s a loss of properties to the rental sector

house prices are rising because of a shortage of housing

I agree with this. We could simply merge ni and income tax. Dividends are more difficult as they are taxed to take into account corporation tax paid. But self employed people are definitely not pulling their weight tax wise

Do we agree that no-one needs more than £100,000 a year after tax? This would be my Maximum Wage, above which I'd tax 100%.

There might be a few teething troubles with this, I admit... but with a raise in the Minimum Wage to £15 we'll be in a much fairer society, once property prices adjust and the rich learn to love Aldi like the rest of us

@fatherbrianeno that’s a joke, yes?

I will never make anything like that btw.

Nothing makes me laugh harder on this site is people claiming to be the 'squeezed middle' on hilarious salaries. You have to have a total household income of more than 70k to be considered even close to middle class these days, but dream on.

Do you now?

What hidden disability? Because a GP has to sign off.

If you really believe there is fraud, then report it.

Half-joking. I would like a maximum wage though - what would you set it at?

Please tell us how you envision a world where all the ghastly private landlords have relinquished their properties?

Free prescriptions should certainly be brought into line with the state pension age. There's no reason for them to be universally free at 60.

By getting taxed out of their little backsides if they raise rent above a certain threshold, meaning fewer people will want to become one and they will eventually die off like a bad fungus.

Well they're a left wing government, they didn't win a majority vote share, the right wing parties are nipping at their heels and there's a huge budgetary black hole. So they have one chance at this. It has to be effective and it has to be progressive.

With luck, they'll have a raft of measures that will start to fix the housing market as well as raise substantial revenue. There are several things they could do.

I don't mind taking a hit on my house value if it means it will be easier for FTBs in future. (Besides, if the current value of house would buy three small flats, then a lower value in a calmed housing market will also more or less buy three small flats. So that is fine in terms of my will and wanting to help out the younger members of the family. Only investors benefit from higher prices, not owner occupiers.)

The housing gap is going wreck society permanently if we don't take action soon.