WBAUnofficial

Thoughts

(10-27-2021, 01:31 PM)Derek Hardballs Wrote: [ -> ]Thoughts

All I can say about the alcohol material is it is misdirection and frankly appaling.

The Chancellor’s speech indicated the government will commit to make major structural changes to the excise duty system.  This is not the case.  There is a consultation document containing proposals follwing the first consultaion. 
 
 
https://assets.publishing.service.gov.uk...sponse.pdf
 
The Chancellor was also misdirecting about flavoured cider – it will still be classified as made-wine and not the same rate as “ordinary” cider” with the proposed continued much-reduced rate for "ordinary" cider.  And it’s nothing to do with leaving the EU.  Utter sleight of hand.

First quick read of the document is that it is confusing and not balanced (but that would always be difficult).

Bottle of Red Wine getting more expensive is bastard.

I love a glass of Rioja with me Faggots, Mash and Peas!

(10-27-2021, 02:58 PM)SausEggBaton Wrote: [ -> ]Bottle of Red Wine getting more expensive is bastard.

I love a glass of Rioja with me Faggots, Mash and Peas!

A few extra pence a bottle isn't going to be a deal-breaker, is it?

Anyroad, this us going to a pasty tax balls-up,

The budget is shit, I'm in line for a real terms wage cut with official inflation figures yet to temper that my tax is going up. Not sure how they're going to square the circle of cutting the size of the state and increasing central spending either.

At least I can bid to get a copy budget signed by Dishy Rishi himself though, just need to pay a fiver to enter the raffle.

Too much tax. Too much spending.

With a majority the size they have, they could have gone for a genuinely deep reforming budget; tax simplification, merged PAYE & NI, scrapped Business Rates, scrapped CGT, scrapped Dividend Taxes, scrapped VED, scrapped Fuel Duty, scrapped IHT, scrapped in-work benefits and introduced a Land Value Tax, Road Pricing and a higher Minimum Wage instead.

How I long for the reforming budgets of the 1980s. We've gone full circle.

(10-27-2021, 05:29 PM)Borin' Baggie Wrote: [ -> ]The budget is shit, I'm in line for a real terms wage cut with official inflation figures yet to temper that my tax is going up. Not sure how they're going to square the circle of cutting the size of the state and increasing central spending either.

At least I can bid to get a copy budget signed by Dishy Rishi himself though, just need to pay a fiver to enter the raffle.

(10-28-2021, 10:33 AM)Protheroe Wrote: [ -> ]Too much tax. Too much spending.

With a majority the size they have, they could have gone for a genuinely deep reforming budget; tax simplification, merged PAYE & NI, scrapped Business Rates, scrapped CGT, scrapped Dividend Taxes, scrapped VED, scrapped Fuel Duty, scrapped IHT, scrapped in-work benefits and introduced a Land Value Tax, Road Pricing and a higher Minimum Wage instead.

How I long for the reforming budgets of the 1980s. We've gone full circle.

Why would cutting benefits to families who work help them? You do realise that many people cannot survive without tax credits because they have to care for others which means they cannot earn enough regardless if you doubled minimum wage because they don’t have the time.

(10-28-2021, 11:11 AM)Derek Hardballs Wrote: [ -> ]Why would cutting benefits to families who work help them? You do realise that many people cannot survive without tax credits because they have to care for others which means they cannot earn enough regardless if you doubled minimum wage because they don’t have the time.

I don't see why you can't accommodate carers sepeaately, one of the problems we have is people who could very well work full time being disincentivised from doing so by the benefits system.

(10-28-2021, 10:33 AM)Protheroe Wrote: [ -> ]Too much tax. Too much spending.

With a majority the size they have, they could have gone for a genuinely deep reforming budget; tax simplification, merged PAYE & NI, scrapped Business Rates, scrapped CGT, scrapped Dividend Taxes, scrapped VED, scrapped Fuel Duty, scrapped IHT, scrapped in-work benefits and introduced a Land Value Tax, Road Pricing and a higher Minimum Wage instead.

How I long for the reforming budgets of the 1980s. We've gone full circle.

We're not that far off each other in the way of trying to simplify the ridiculous tax system by the looks of it, I'd add stamp duty to that lot as well. I can see a benefit to reducing in-work benefits but more in the way of weaning people off them with higher minimum wages and restricting businesses using zero hours contracts severely and I'd have had a lot of those simplified rather than scrapped entirely. What does Road Pricing involve Proth?

I’ve always thought it a bit crazy we subsidize employers paying poverty wages with benefits top ups. My view is if an employer can’t pay a decent wage and still make a profit, they shouldn’t be in business. As alluded to by Baggy though, it’s not as simple as just cutting them off and I’ve now shifted my view to agreeing a decent minimum wage is a good way to moving towards reducing the reliance on benefits many people in lower wage jobs face.
The general flavour I got with this budget is the government are spending now hoping to help insulate the economy facing pressures from covid and to some extent adjusting to how we will work post Brexit.