Boom! Rachael Reeves....

[Fab Foodie]

The first female Chancellor hath spoken, and I must say pretty impressively.
Now it's time to chew the flesh and pick over the bones....
What do the cognoscenti think?

 

[AuroraSaab]

Just had a brief look. Nothing that affects me so far. Minimum wage going up is good. Capital gains tax hasn't gone up as much as was touted.

 

[spen666]

With every budget whatever colour the party, the devil is in the detail of the budget. The bits the Chancellor does not mention.

The next couple of days will reveal the bigger picture when we have more information

 

[icowden]

My main issue is that Reeves expects me to be able to magic up school fees with 8 weeks notice, straight after Christmas in the middle of a school year. Yes, I know, I could just put the kids in state school - except one is doing GCSEs next year, and the other A-Levels paid for by financial planning on my part which involved re-mortgaging the house such that I'm on the limit of what I can afford. It beggars belief that she thinks every parent with kids at private school has a magic money tree.

Maybe the stress will give me a heart attack and pay off the mortgage...

 

[AuroraSaab]

Comp money for those affected by the infected blood and post office scandals is good to see. The vat on school fees could have been phased in. Haven't mentioned ISA's yet; there was talk of changing the limits which would affect many low income savers.

 

[winjim]

So she trusted the last government to have told the truth to the OBR, or she would have had to give people a bleaker picture of Labour's budget plans right before an election. And she doesn't know how school years and household budgets work.

I trust her about as far as I could comfortably spit out a rat.

 

[Ian H]

She's replaced Nigel Lawson with Red Ellen, so all's well with the world.

 

[BoldonLad]

So far, not having read the “small print” yet, it looks reasonable for me personally. The region I live in appears to have been short changed (again), move to Manchester or Scotland appears to be the solution to that. Although it will never affect me, I didn’t like the petty change to tax on each passenger on private jets. It will raise next to nothing, and, is simply petty spite (IMHO).

Unless I missed it, nothing to address the nonsense which is Drax, burning trees to produce electricity.

 

[albion]

Private jets need to be taxed to combat climate change. However, taxing cars per mile and taxing all flights would do far more.

 

[Beebo]

Headline calculation is that almost everyone who is a PAYE worker is unaffected by this budget.
I do worry for business having to stump up the NI. Which means any potential pay rises will be stifled.
As a household we are both top rate tax payers so could have paid a bit more in income tax without suffering. I suppose the freezing of the 40% band is the biggest drag for us.

 

[matticus]

Although it will never affect me, I didn’t like the petty change to tax on each passenger on private jets. It will raise next to nothing, and, is simply petty spite (IMHO).

Those journeys are the fastest way - per person - to fúck up the planet for everyone else. Doesn't seem petty to me.

 

[monkers]

Private jets need to be taxed to combat climate change. However, taxing cars per mile and taxing all flights would do far more.

Aviation fuel is taxed less heavily than road fuel, which given the fuel consumption of aircraft does not fit well with the paradigm of the polluter must pay. Green party policy is to tackle that, so expect to hear from them in parliament some time soon.

 

[monkers]

I haven't studied the budget in detail, but unless I missed something, there remains two bogies in this budget.

Number one is the ongoing and extreme cost of clearing up Sellafield - £136bn - yes you read that right. There ain't no such thing as clean nuclear power or cheap nuclear energy.

https://www.theguardian.com/busines...cast to cost,at an undecided English location.

Number two is Brexit. Yes Brexit is a big number two! This was an economic double whammy. There is the damage to the economy which we know something about. Further to that, there were the lies told about the divorce bill. Braverman, while AG, told the country that there was no legal basis for a divorce bill, and that in fact there would be a windfall payment from the EU. To date £26bn has been paid of the full amount towards the bill. I guess Hunt (checks spelling) no doubt will say that this amount is not included in his figures because the country made a democratic decision to leave the EU (inwardly shrieks). Interesting that this amount corresponds to amount that Reeves says is the black hole left by the Tories. Also interesting that neither side is making mention of the fact.

 

[BoldonLad]

Those journeys are the fastest way - per person - to fúck up the planet for everyone else. Doesn't seem petty to me.

The people who can afford to make those journeys will not be deterred by £400 each, so, it will be ineffective. By all means use tax to deter air travel, but, at least, make it effective.

 

[monkers]

The people who can afford to make those journeys will not be deterred by £400 each, so, it will be ineffective. By all means use tax to deter air travel, but, at least, make it effective.

In your opinion, how much will deter them?