After a long wait. The Autumn Budget is finally here!!! 💰

[Cosywintervibes]

https://news.sky.com/story/budget-2025-raft-of-tax-hikes-expected-today-as-more-policies-confirmed-13475413

Anyone like to join me in watching the budget today?

I think you’ve completely misunderstood a major point, the cash ISA allowance is being lowered to push S&S ISA instead. Which will stimulate the economy if uptake is good.
S&S ISAs outperform cash ISAs in the long term anyway so absolutely nothing about this move shouts don’t save.

I’m really disappointed in this government. This is typical old labour tax and spend. Discourage working hard by freezing tax thresholds. Discourage saving by reducing ISAs. Discourage investments by increasing tax on dividends and property. Discourage pensions by taxing contributions. Discourage EVs. Throw away more money in benefits.

It will be rolled quietly, how do you value every house?

Change doesn’t come in until 2029

Autumn - you dont happen to work in the public sector do you? I have a feeling you really dont know why the private sector is so important to you?

It’s exactly what Sunak said would happen but nobody listened. People can’t say that they were not warned.

And the spend part is welfare

I had a stocks and shares ISA with Nutmeg for about 6 years and made no money. When it got back to the level I'd originally invested, I closed it down. That doesn't encourage me to try again with another one! I've done much better investing in USD stable coin via Nexo at 11% a year.

Is anything coming in now?

They aren't discouraging saving very effectively - in fact they're encouraging people to look at stocks and shares ISAs.

No, you’re right… it probably won’t actually stop me doing it. Only I’m a single mother paying a big mortgage in the south east plus full time child care so things are exceptionally tight. I don’t even get child benefit. Even a small increase in NI is quite a blow. And just… well it does seem unfair tbh. To make saving for my future harder. When I’m trying not to rely on the state.

I don’t under stand your point at all. You get tax relief on contributions, and, as you point out, significant free money from your employer.how will you be losing a huge amount? Less will go into your pension, for sure, but how can it be huge?! It’s just the salary sacrifice element

She has just announced that disability assessments will go back to being in person. I think that will put off some of the blaggers.

Our S&S ISAs are performing very well.

It won’t cost higher earners as much, as they only pay 2% NI. So it will only cost the PP £120 a year (2% of £8,000-£2,000 exempt amount).

For you it will be £216 a year (2% of 12,800-2,000).

(Happy to be corrected on my calculations or understanding here)

It will also cost your employer so if they are generous with their pension contributions, that may reduce.

I don’t want to see kids in poverty and I think people who are ill/disabled have worked but fallen on hard times should be entitled to help and support be it financial or otherwise. But I do not agree with blanket lifting the 2 child cap.

In the UK we’ve access to free contraception and family planning, we have lots of support universally available in terms of healthcare. Obviously there are circumstances where people may have had more than 2 children outside of their control eg abusive relationships, or multiple births (twins/triplets etc) and so I agree to a lift on the cap for certain circumstances and would support this.

But to blanket lift it does piss me off. DH have come from a working class background, we don’t have rich parents. DH and I have had to work hard to get the jobs we have now. We don’t earn huge amounts, above minimum wage but below average, we’re taking steps to progress to earn more money. We have been responsible, worked since a young age, lived within our means and we had one child because we couldn’t afford another and didn’t want to be stuck for money.

I know for a fact in our local area there are thousands of people who are having multiple children who don’t have any special circumstances where they may qualify for extra help. Who take no responsibility for their health, wellbeing or family planning, couldn’t care less about their children’s needs don’t make any effort to get any sort of job. I know that this will be reflected across the country and it is this which really pisses me off.

Have been talking to friends recently about how we feel we are on a treadmill of working, looking after kids, trying to be sensible with money. Trying to save. Feeling knackered. It just isn’t fair that one group of people are working their arses off and just keeping things afloat and another group of people couldn’t give a crap and expect the rest of us to fund them.

This might be a bit shit for the building trade because until the government explains the methodology for revaluation, no-one at the boundary is going to want to do minor improvements/ extensions that could take them over.

What has surprised me is that the big changes to salary sacrifice and property taxes are not even coming in until 2028 and 2029. It will just give their opponents a lot of political capital in the next general election rather than raise any revenue.

They also say they are simply going to apply a CPI uplift but obviously if house prices drop then loads of people will be looking to move down the bands.

Nobody will be open about value adding work they've had done that will push it over the threshold leading to some house worth just over £2 million paying it and others not.

Also could you contest the value when a house on your street sells for lower than expected?

I agree that it is completely unworkable and won't raise anything anyway

To be fair anything coming in 2029 is pretty unlikely to survive a change in government...

It doesn’t reduce the ability to pay the money in but it does reduce the ability to shaft the treasury on the tax that you owe, yes.

A lot of people wont do a Stocks and Shares ISA. Too risky for them.

I have a friend who uses the Cash ISA. She is quite switched on but she has told me she wont 'risk it' There are many like her. You could lose all your money whereas in the cash ISA its safe. Why dont Labour understand this.

Agree

They rarely change it. This is typical of the cycle labour. Come in do all the crap stuff that the Tories don’t have the balls to do but then the tory’s don’t roll it back.

Yep