Well done George Osborne - stonking budget

[claig]

Tax free Allowance rising to £11000
40% tax threshold rising to £43000
Corporation Tax falling to 19% and then 18%
National Living Wage will reach £9 by 2020, will start at £7.20

If they carry on like this, Labour are finished and poor old UKIP and Farage won't stand a chance of getting a look in. But credit where credit is due - well done Osborne!

MaggieJoyBlunt...thank you for correcting me, I suspect I was being a little Englander with that figure lol, but the majority of Brits 'worse off'?

The UK still has an annual £70 billion budget overspend (from £153 bil in 2010), most of the 'rebalancing' Osborne is doing is to reduce that to a surplus to start paying off our £1,500,000,000,000 of National Debt by 2019, correct the tax, finance, social, pensioner, housing, NHS and other policy screw ups under Labour, and put the investment/infrastructure in place (that Labour forgot, spending £trillions on god knows what) for future job/growth creation.

No one mentions the millions brought out of tax altogether, the rich are paying far more under the Conservatives than Labour, another £10 million a year going into the NHS etc etc - we COULD have been worse than the Eurozone, with their around a 11% unemployment average who are paying LESS in welfare.benefits than in the UK.

but the majority of Brits 'worse off'?

Well, yes if;

3 million families will be £1000 worse off.
13 million families will be £260 worse off.

Even if we are conservative (small c) and assume all families consist of 3 members, then that is a majority of Brits worse off.

I read an analysis yesterday that anyone earning under £31k would be worse off. Given that the average salary/wage in the UK is £27-29k pa, that fits.

The UK could no longer afford the Labour/Brown economic model, which cost £trillions to maintain over several years, and causing a £153 billion a year overspend by 2010 - hence they were stuck like rabbits in headlights, as all they KNEW was how to grow the State/Benefits and Welfare - losing 1 million manufacturing jobs by 2005 through their high tax/red tape/regulations policies, with no chance of replacing them.
www.independent.co.uk/news/business/news/million-factory-jobs-lost-under-labour-6150418.html

People should judge political parties on the economy/finances they receive coming into office, and what they leave, especially if spent hundreds of ££££ billions we did not have on their new social order..

Shelter (2009); The housing crisis in numbers – and the need for spare bedrooms, never mind homes.
england.shelter.org.uk/campaigns/why_we_campaign/the_housing_crisis/what_is_the_housing_crisis.

• Over 1.7 million households (around 5 million individuals) are currently waiting for social housing
• 7.4 million homes in England fail to meet the Government's Decent Homes Standard
• 1.4 million children in England live in bad housing. [3]
• In 2008/09, 654,000 households in England were overcrowded. [4]
• The number of new households is increasing faster than the number of house builds.
• The UK is now more polarised by housing wealth than at any time since the Victorian era.

People may not like Osborne's policies, but god help up if those that screwed the economic/financial pup, were still in pow

I find it interesting from the POV that he has delivered a budget that disadvantages a majority so must, surely, be counting on the fact that it a majority less likely to vote than the advantaged minority. Otherwise it's electoral suicide.

Not sure why Osborne couldn't have reformd IHT into bands (like stamp duty - good move of his I thought) and made it harder to dodge through trusts. INherited wealth is no. 1 way generational inequality is perpetuated - sad to see it be slashed. Would have been a tax raiser and helped to ease cut in TC whilst a higher minimum wage was phased in.

Also very sad to see such huge cuts for the disabled. I agree the govt should not subsidise low wages, but this NMW increase is not enough considering 8 years of wage stagnation and 20 years of profits flowing towards top exec pay rather than wage rises for middle and lower income workers.

Consumption will drop and may yet harm growth.

IMFs analysis shows the bottom 8 deciles to be worse off. I think it's safe to assume that 80% of the population is a significant amount, regardless of how many millions they are.

I find it interesting from the POV that he has delivered a budget that disadvantages a majority so must, surely, be counting on the fact that it a majority less likely to vote than the advantaged minority. Otherwise it's electoral suicide

People like my Mum vote for them. She reads the Daily Mail and listens to Moneybox. She's 'well off' but not in the top 20% who will benefit but she aspires to be to the extent that she would be willing to sail the bottom 80% down the river without realising that she is on the boat with them.

"Remember much of this 'stuff' doesn't come in for a few years and/or only affects new claimants and /or those over 25-years old."

That's not true, the changes that will affect most people are the changes to the tax credits threshold and rate, because they affect nearly everybody claiming tax credits, they change in April.

Also tax credits are changing to universal credit by 2017...then everyone will be a new claimant.

I am sickened by the amount of posters on this thread who think that this budget is a good thing. A generation of young people are being robbed of their adulthood and independence. Surely it would be better to cap the amount private lanlords are allowed to charge rather than expose our young people to substandard and overcrowded housing or homelessness. I hated the Tories before. This self serving greedfest has not changed my mind. I hope that all those posters who are happy never face illness or unemployment in this Elysium they think they have created I think they will find it less than accomodating.

Hardly 'independent' if reliant on HB

Sorry because I know this is going to sound quite rude and horrible of me but I don't understand why he is waiting until 2017 to implement child tax credit cuts? It's just I live in an area where I KNOW people will have that extra kid or two before the new rules kick in and the rules won't apply to the Why couldn't he implement it now and still protect large families already claiming?

*them.

Hard-working families in full-time work on the 18k-25k pay scale with one or two children are going to be worse off.

We're lucky not to claim tax credits anymore but a couple of years ago my DH was earning 20k a year and we NEEDED the every penny of the tax credits used to top up our income just to get by on a very tight budget (we have one child) so I don't know how people in that situation will manage with having over £100 a month less money. I think it's very unfair considering a lot of people on similar money to this are nurses and other public sector workers who won't be seeing a pay rise or anything else to make up for the reduction of tax credits.

So many hard-working families will be pushed into poverty which is such a shame. A family with 2 children on 100K a year will be no poorer, but a same size family working long hours for 20k will be 1500 poorer, extremely unfair.

My employer is going to reduce staff because of the new living wage.

The staff that remain will be having their hours cut but our workload will remain the same.

While I like the idea of the living wage it's become a problem in my workplace.

I'm looking for a new job

My boss will also employ only under 25s if needs be.

The Tories are a party for the rich, and this budget proves it, and is of no surprise, to see these animals in parliament shouting and behaving like Neanderthals makes me sick. People already on the poverty line are going to be pushed over the edge.

These MPs have no clue about how ordinary hard working live, it's a hard slog, for many people. We are not all in this together, it's not a budget for the nation. It's a budget for the rich and basically fuck the poor.

It's by no means as bad as it could have been, but that doesn't mean it isn't good.

The wage rise would be brilliant, but I don't think waiting 4 years to bring it in at a level that would barely cover living costs as they are now, is something to celebrate.

I earn £7.25 an hour at the minute (I realise I am very lucky, people doing my job or similar are usually paid minimum wage) but I only just scrape by. The cut to tax credits will cripple me.

*isn't bad

I think the budget was a huge political win. Economically I think it will have no real impact at all overall and many on the poorer side will lose out.

That said, that's what we voted for. The Tories got voted in on a platform of more austerity and to that end it was nice to see them actually spread the pain over a longer period.

Policies like scrapping non-dom status are designed to counter the accusations that the Tories are the party for the rich.

The budget has basically screwed Labour over. The best analysis I read (I think it was on BBC News) said that they're trying to appeal to all the 'best' groups and turn them into Tory voters. The older pensioners, the workers and the company bosses. Who does that leave? The idle and jobless.

Labour & the Lib Dems will have to fight back. The latter two camps aren't exactly the best groups for the politicians to 'represent' and will never win them any elections.

I think the budget was a huge political win

Yup, but its an omnishambles for the country.

Broon's maths never worked.
Gideon's does not either.

It would be nice to have a Chancellor and Treasury team who actually had some analytical and accounting skills.

the idle and the jobless

Some of whom will be so because of disability. ...but who cares about them right?

Bloody scroungers with their wheelchairs and stuff.

A crap budget for lower paid working people including those with disabilities.

Nice one Gideon.