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?

I'm surprised people are still selling the 'adults' line

This argument falls down because we ve had what you wanted for 14 years and it didn't produce much in the way of growth did it? infact it's given us super high rates of taxes, the worst public services ever, mass immigration and Labour shortages all at the same time... quite a trick.

Why would equalizing rates of income and CGT stifle growth? you know there are investment off set rates of CGT that can be increased?' We could make people pay CGT who move abroad and then sell assets but currently then avoid any CGT (something v few countries allow).

People talk as if we have 14 years of utopia but now the bad times are arriving.

Tories gave us Austerity, Brexit, Boris Johnson, Liz Truss and then finally, unfunded NI cuts of over £20 billion, done to trip up Labour.

Sorry but you ve had your chances & messed them all up.

Now it’s war on savings

No, it isn't. What hyperbole! Not once has the government said it is going after ordinary people's savings. That would be really stupid.

My prediction is an increase in CGT on the sale of stocks and shares. Yes, I know lots of ordinary people have stocks and shares ISAs, but they are not subject to CGT.

I will be so glad when the budget is actually announced and all this scaremongering nonsense stops.

Screaming children in the back seat 🤣 and that's just the MSM!

And some MN posters, who would cry foul if Starmer announced a cure for cancer.

Some would cheer if he did the opposite for them.

Yes sick to death of it.

Just been watching bbc news (I know it's not a good idea but I hate adverts) and was cheesed off with the journalist asking Kier Starmer a budget related whilst he was giving a speech to the commonwealth summit. Totally inappropriate.

Whatever happens in the budget loads of people are going to be unhappy. The country is in a complete mess.

I am no Labour fanatic. The WFA decision is wrong, I don't like some of the rhetoric and the comms are dreadful at the moment, but all the scaremongering about the budget is ludicrous.

Yes its total nonsense.... the country is in the state it is in because of Tory policies, yet just 4 months in and its all Labour's fault.

Savings interest is already taxed, as is pension income above a TH which the Tories have planned to be frozen until 2028.... not squeak from our regular Labour bashing posters....

Some narrowing of CGT rates whilst closing loop holes, is sensible, no reason at all why a higher rate tax payer should pay just 1/2 of their marginal rate on investment income.

Building more council housing, not kicking people out of their family home, is whats required.

I agree. And fortunately Reeves has promised £500million investment in council houses.

Has anyone started a thread to complain about that yet?

oh don't worry, one of our Tory posters will..... probably along the lines of "Rayner to reward the feckless..."

The country is in the state it is in because we have got used to living above our means and the sense of entitlement in this country is through the roof.

Of course there is a reason why CGT is charged at a lower rate. I really think you need to get your head around basic economics before making these kinds of statements. Economic growth and investment are absolutely critical to our future prosperity. We need to be very very careful about what we do in this area.

The country is in the state it is in because we have got used to living above our means and the sense of entitlement in this country is through the roof

I agree about the sense of entitlement, so many people who feel entitled to dodge tax, unlike those of us on PAYE who pay what we should and those who are honest in their tax dealings.

Living above our means? Did I imagine austerity, frozen pay, cuts to services and benefits etc, etc?

And yet we owe the same amount as our GDP and the debt is growing... It's like someone with tens or thousands of pounds of credit card debt saying that because they have already cut back their spending that they have done enough.

We think we are entitled to better healthcare, better education, better housing etc than we have now although we literally can't afford current levels of spending. Easy to think everyone else should be paying more but the reality is most people aren't paying enough to even fund the public services they use, let alone contribute to the costs of those that can't contribute for whatever reason.

Easy to think everyone else should be paying more

I don't think that, though. I think we all have to pay a bit more, including me.

So you do want ‘tax rises for working people’

Do you work in the public sector?

I for one will be very happy to have received a 4% cut in my NICs and 2% dumped back on the employer’s NICs in return, if the latest rumours are true

Basic economics??? lol! You re not demonstrating any.

So explain why such low rates of CGT on say selling a house, builds economic growth? or why Sunaks investment income from his funds in the USA should be taxed at 20% and how that benefits the UK ?

Or why he could move abroad, sell his assets in the UK and pay 0% on gains made?

There are/were huge incentives for investment via exemptions to CGT ta, it was £10m tax free but the Tories slashed that to £1m...

We also had CorpT rates that were amongst the lowest in G7, yet produced little to no growth for UK plc....

Companies look beyond volatile rates, they need stability and access to international markets, 2 things the Tories managed to fuck up & thats before we get to planning, skills, health services and transport.

Yes we need growth and investment and that means money, Reeves has raise it somehow.... she wouldn't be in this mess if that idiot Hunt hadn't cut over £20billlion from NI, which was done only to screw up Labour or rather the UK in other words all of us.

As we haven't had the budget yet, there is no coverage of the budget.

We have speculation, misinformation, disinformation, dramatic proclamation, fiction- all of which is ridiculous.

I'll await the actual budget before I judge both it, and the reporting of it.

I cannot fathom the stress of juggling credit cards because you're up to the max so move it over to a zero interest card for six months.

I wouldn't cope well with that.

Yes. Bloody irritated by the weird speculation as if it were fact. Very annoying.

There would not be speculation if so much had not been ruled out of the budget. Then we have no obvious definition of working people. Plackng higher costs on employers stifles growth. Loads of people are pointing this out. It’s anti growth. We tend to think taxing business and sale of businesses does not matter. It does. It’s sending a message that we are not as business friendly as other countries. Small employers really notice such changes and most people are employed by them.

I’ve never voted Tory in my life. I do know something about incentivizing business to grow though. Something neither Tories or Labour understand. If your money comes from savings and a draw down pension you will be stung next week. You were earning a salary but you have retired after saving all your working life. If such anti saving policies go ahead, there’s far less money for investment and loans. It’s financially illiterate.

Yes there would be speculation. No matter what the eventual budget contains there will be near-universal whinging and snivelling about how Rachel Reeves, Labour Chancellor, has got everything wrong, is bankrupting small businesses, is impoverishing the wealthy and generally sending the country to hell, having failed in the few short weeks since the GE to supply sufficient rainbows and unicorns to satisfy the people who didn't, and never will, vote for them.

What a load of bumpkin

Labour are not doing well and only have themselves to ask why not. Maybe they can turn it round, but this backlash is on them.

And the Tories keep churning it out, same old whinges, same old tune.