Anyone else irritated by the media coverage of budget?

[flymetothemoo]

Clearly, if it was at all possible then Labour would want to spend billions / on public services, fixing everything. The fact that they are having to be so frugal is NOT what they would choose, politically or materially!

Clearly it's the last government's fault we are in this position. And yet Labour are the bad guys, according to the press, and even the BBC and the Guardian are contributing to this stoking of negativity and fear.

What are they supposed to do in terms of the budget?

They must find the money from somewhere. They've promised to protect working people, employees NI, income tax etc. So they have to find it from somewhere. It might be employers, or inheritance tax loopholes, or benefit loopholes.

They are damned if they do and if they don't aren't they?

Yes.

Yes. I'm fed up of the fantasies. Nothing has been leaked, we will find out soon. In the meantime people are frothing over their imaginings.

Me too OP. All the longstanding problems and lack of investment they've inherited and apparently every idea is wrong and they should just wave a magic wand.

I think it's because Keir announced that the budget was going to be bad. This has led to worry and speculation. I think if he hadn't warned us all, the level of fear and speculation would be much less.

They ruled out all the easy ways to raise money that are quick, predictable and have limited unintended consequences.
They then didn't think hard enough about the unintended consequences of the tax raises they are considering... I can't believe it took the NHS Unions to point out that changes to pensions tax relief would have a catastrophic impact on the retention of senior Doctors over the age of 55... Anyone who knows ANYTHING about pensions could have seen that!

Totally agree OP. People want US taxation levels with European welfare services, which they can't have. I don't generally go in for blaming the media, but they don't seem to help!

My financial adviser says he thinks that actually RR will do very little this budget, and that it is a fiction that they HAVE to find 40 billion immediately.

If that is true then I'm not sure why they've gone in hard with dire gloomy messaging. But i guess we will see next week. Obviously my FA doesn't have a crystal ball.

This is so true. I think Sir Mervyn King said something similar once. The media does not help at all and should be educating people to realise you can have US health insurance, college fees and no safety net and lower taxation or German or Scandinavian public services and universal childcare and pay for it through fair and progressive taxation.

The constant speculation is really annoying me. Just wait another fortnight for it to be announced, FFS. It feels like there’s been nothing in the press but budget guessing games for the last six weeks.

Labour shouldn't have ruled out a penny on the pound on income tax. When I heard they had ruled that out my heart sank. Now they are scraping around desperately.

The government of any colour likes to leak things to gauge popularity.

Also, if you don't suspect you might be targeted by this government then I suppose you can just sit back and wait and see what happens. Those who own businesses or are high earners like to be able to plan, and that involves speculation.

Agree. People are so short sighted too, it seems, of paying more tax. It’s as if having to contribute towards a better society for all is the root of all evil, a myth stirred up by the self-interested puppeteers of the right wing press. And gullible people fall for it! Personally, I’d quite happily pay more tax if it means not having to pay for private healthcare (something I’ve been looking into recently given the dire state of the NHS), or avoiding the prospect of private education, or more efficient public transport links, better roads etc. heaven forbid we should pay for it.

Shame Labour ruled out everyone paying more tax then, isn't it?

Well, it's horses for courses. When Conservatives done austerity cuts due to Labour's money tree spending, they got alot of stick, why is it different?

Other than the fact, the extra spending was from covid, a world pandemic which Labour didn't govern under unlike the debt prior.

Totally agree @ThisHangryPinkBalonz

I think the issue is the "plans" have been ill thought out and the media are capitalising on that

For example: We won't raise taxes on working people... Then say they are hiking employers NI contributions up - those business owners (often small businesses) are working people!

Another example: We will introduce full employment rights from Day 1 - where is the protections for the business? People can literally work for a company for 1 week then go on to SSP with "work related stress" etc (whether it's true or not) and as long as those sick notes are being handed in, the employer has to pay sick pay. Alot of business just won't survive this, coupled with increase in wages again, corporation tax etc.

I'm a Labour voter and I'm appalled with this offering.

I'm sick of all the speculation. Why can't journalists stick to reporting actual news.
All these rumours lead to people making financial decisions that may be wrong or unnecessary (eg drawing tax free lump sums from pension funds as there's rumours that the limits might change). I'd rather just act on hard facts. (And yes, changes to the tax free pension withdrawal will impact us massively at our age).

Nothing I've read has been pure speculation, it's all been leaked.

And it's not just the budget, wtf is wes streeting on? I liked him as well to start with. He sounds like a crackpot with his obsession with Wegovy and job coaches on mental health wards.

Just slowly start to mend things! The country is bruised and battered. Be gentle for a few years.

Labour have cauterised the extent of the Tories alleged mismanagement via a black hole at 22bn (or is it 40bn??).

It’s theirs to own now.

Quite.

I don't remember the Tories getting this level of sympathy and people blaming labour for the first budget during their time in government. And no I don't work for Tory HQ, didn't vote for them in the last election etc.

Agree. The media have been hooked on drama since before Brexit and the shot show which followed by the Torys. They are now not getting the same drama so they are speculating and trying to create it. Why can’t they try and give the new government a chance?

Not getting the same drama?? Are you on glue? This government has been like a car crash in slow motion over the last couple of months! Hopefully they will settle down and stop being so over excited and weird.

Labour were sufficiently prepared to campaign, but not to govern - that much is apparent given the freebies scandal, the Sue Gray turf war, and the fiscal policy flip flops.

The budget will doubtless be a watered-down cluster fuck. Diluted because they wont raise anything like forecast from PS VAT, the WFA cuts, and the attack on non-doms etc.

Meanwhile, they drop their drawers for the unions like some Friday night brass.

You lost me with your awful casual misogyny @Rockalittle78