What do with think will be in Labour’s budget?

[tenpairsofshoes]

They don’t seem to be giving much away but any indication that they might help kickstart the economy or are we just going to get £2 bus fares, £45 off our elec bill a year and petrol prices on google map? None of Labour polices seem to help anyone that is really struggling but isn’t in receipt of UC! I’m speaking as a single mother who is trying to sell a property to move on with my life but can’t. Yes I know I’ve very fortunate to have bricks and mortar but that doesn’t mean I’m loaded (because the property isn’t worth much)! I feel like everyone is expecting the chancellor pull a rabbit out of a hat but I think we’ll all be very disappointed/pissed off!

I was asking which families had apparently decided not to have a third child. Do keep up.

A lot of hot air I expect, they don't have any money to do much, have made promises about not raising taxes and can't touch benefits.

@Raiderofthelostbattenburg "I’m keen to see what the budget actually brings."

UK Chancellor John Healey faces a projected* *£35 billion budget black hole ahead of his upcoming October 28 Budget, warned by the Institute for Fiscal Studies (IFS) and economic analysts.

The gap is estimated between £11 billion and £35 billion, driven by rising inflation, increased borrowing costs, higher spending pressures for defence and public services, and potential energy price shocks from ongoing Middle East conflicts (such as the US-Iran situation).
Prime Minister Andy Burnham's administration is hemmed in by manifesto promises ruling out increases to income tax, National Insurance, VAT, or corporation tax, leaving limited room to maneuver without breaking commitments.

"Between a rock and a hard place" seems applicable here....

Hopefully, he will increase personal allowances, thus lifting pensioners with slightly more than the state pension out of tax. Currently, the so-called triple lock = triple lock - 20 per cent.

Quote "Andy B wasn't even an MP originally."

Does that not apply to all PMs, and MPs? Or do you think people should be allocated a seat at birth ?

The MP he replaced resigned. He had been involved in a scandal if you recall.

I was answering another poster's question.
Maybe you should try to keep up ?

What benefits are they receiving?

Could you provide the data to back up this statement, please?

Removing the triple lock is on the cards. About time too. The only objection I have to paying tax on my state pension is the admin cost. Better not to give me the money in the first place.

You answered my question. 😂

I'd like to see them increase the tax thresholds and the child benefit repayment threshold. The fiscal drag after years of inflation is insane.

"The MP he replaced resigned. He had been involved in a scandal if you recall."

He "mispoke" - I'd hardly call it a scandal. IMO he "jumped before he was pushed"

I definitely agree with your between a rock and a hard place assessment. We are in very tough economic circumstances.

I suppose where I’m at, though, is I just don’t see any other party with a more credible offer on the economy right now. The Conservatives talk a big talk on fiscal responsibility, but the kind of tax cuts they outlined at their conference seem to contradict that, as does their insistence on not re-negotiating the terms of our relationship with the EU no matter the economic cost. And I think they are in cloud cuckoo land if they think they can make the kind of swinging cuts they are talking about without damaging our public services and cost-shifting to the tax payer in other (ultimately more costly) ways.

And I think where I differ from you is I do find Andy Burnham himself very compelling. I think he’s a skilful and pragmatic politician and an excellent orator. So, for now, at least, I am open minded as to what the Prime Minister and the Chancellor might put forward in the budget.

The Triple lock is being reduced to a double lock from 2030, if Labour get back in.

More tax on those of us who work and extra benefits for those who receive them
like most of the budgets for the last few years (including tories in case anyone starts moaning)

I still optimistic that AB might be able to deliver.

But I am finding his desire to churn out tiny little announcements about trivia in a bid for "good news" really patronising. It all feels very tinkering around the edges and I realise his options may be limited but it makes me feel patronised when he thinks a Google maps list of petrol prices is remotely something I want a PM to be concerning himself with

It's the big systemic fixes I want to see discussed, even if they can't happen straight away.

This 100%, the UK incentivizes laziness. The welfare state is crushing Britain. The number of people on longterm sickness and disability benefits is a disaster (of course if you are sick and disabled you should receive them). The NEETs are the real ticking time bomb, because these people will never get off welfare. 800k people get a free car every three years !!! Woohoo! Why work you mugs???

This pack of clowns will tax, tax, tax. Burnham is a lightweight and will tax the “rich” to support some 20year old in the north who dropped out of school is covered in tattoos and doesn’t have the wherewithal to support him/herself.

tAx tHe RiCh!! 🤑 and then someone like Chris Rokos (the billionaire who played the equivalent of an average of 50k PAYE workers in tax per year) picks up and moves to Greece. You can’t make this stuff up.

Expect more tax and to get poorer. Thank god for the bond market, right now the only thing that can restrain labour.

https://www.theguardian.com/news/datablog/2014/jan/10/rise-british-muslim-birthrate-the-times-census

@angelos02exactly this! Nothing this government is doing is making work or running small business pay! So I genuinely begin to think WTF bother!

I genuinely think the worst thing for mental health is to not work! And I’m talking as someone with bad mental health!

A land tax to force pensioners to hand over their houses, so immigrant families can be housed

https://www.gov.uk/asylum-support/what-youll-get

@Walkingthroughautumni do like AB but his tiresome ‘what’s your favourite pub snack’ I find quite patronising when we’re all worried about the future finances of this country!

The subject of pensions appears regularly. Mostly to complain about the triple lock and pensioners don't need them as they are well off apparently.

The retirement age of 60 for women and 65 for men was set in 1908. It was not re-visited until 2010, over one hundred years later. Too late.

An ageing population was well known to UK governments' long before 2010, but they did nothing. Why it that? The answer has already been given on this thread. The grey vote is large and powerful. Pensioners make up almost 30% of registered voters and all parties are afraid to lose their vote.

That could have been avoided in NI payments had been increased in small amounts since after WWII for example.

So, to answer the OP question, I would say the next budget will include tax increases. Yes, it would be a breach of the Labour manifesto, but they have already breached. Plus, with Labour's majority there is no need to have a General Election until 2029.

@dustabsorberanother reason to add to the ‘why bother trying to aspire to anything’ if they do this!