Budget 2025

[Dorset Boy]

That's for cash. Everyone can include £8k pa in the stocks and shares in addition.

I know, but why have different allowances for different age groups - it over complicates, and is stupid and unnecessary.

 

[bobzmyunkle]

That's for cash. Everyone can include £8k pa in the stocks and shares in addition.

No move towards stipulating UK stock?

 

[Dorset Boy]

The EV tax:

• There will be a new mileage tax for electric vehicles from April 2028. "In 2028-29, the charge will equal £0.03 per mile for battery electric cars and £0.015 per mile for plug-in hybrid cars, with the rate per mile increasing annually with CPI,"

 

[bobzmyunkle]

I know, but why have different allowances for different age groups - it over complicates, and is stupid and unnecessary.

Keeps pensioners onside and probably a belief that younger people are more open to change.

 

[PurplePenguin]

No move towards stipulating UK stock?

No idea.

We are currently in a period time when everyone thinks that stocks and shares only go up in value. Those periods usually only end one way.

 

[Dorset Boy]

No move towards stipulating UK stock?

Given 75% of the FTSE100 company earnings come from overseas, she would have to mandate mid, smaller and micro cap stocks to make investment UK centric. A lot of that would be outside the risk tolerances for most investors.

 

[Beebo]

I know, but why have different allowances for different age groups - it over complicates, and is stupid and unnecessary.

I guess it’s because over 65s don’t want risky investments.
But I agree with you, it’s an unnecessary complication.
If you have £12k of spare cash to save then you are already doing well. And that’s £24k for a married couple.

 

[pubrunner]

They cant even keep a document secure and people want to trust this lot with digital ID ?

 

[Beebo]

The EV tax:

• There will be a new mileage tax for electric vehicles from April 2028. "In 2028-29, the charge will equal £0.03 per mile for battery electric cars and £0.015 per mile for plug-in hybrid cars, with the rate per mile increasing annually with CPI,"

Yep. That’s going to annoy me. And doesn’t seem to be in line with their green agenda.
It will cost me an extra £12 to pick my daughter up from Uni. Plus I have to recharge at expensive motorway charging points.
Still far cheaper and more convenient than public transport.

 

[Psamathe]

I guess it’s because over 65s don’t want risky investments.

It's an interesting aspect. Several years ago checking on my private pension fund investments the mainstream company explained that the nature of how they invested your fund depended on your age (time to retirement). With a long time until retirement they'd invest in riskier but higher return places as should they not do so well still plenty of time to recover. But as you got closer to retirement the investments yould migrate to lower risk & lower return as less time to handle any down fluctuations.

 

[pubrunner]

The EV tax:

• There will be a new mileage tax for electric vehicles from April 2028. "In 2028-29, the charge will equal £0.03 per mile for battery electric cars and £0.015 per mile for plug-in hybrid cars, with the rate per mile increasing annually with CPI,"

Has she said how the pm charge for EVs will be policed ? I assume some sort of self assessment which sounds like a disaster waiting to happen? Or will there be a hidden small print that all EVs have to have a black box?

 

[dutchguylivingintheuk]

Anyway, the OBR have pretty much announced the budget details just ahead of PMQs.
A massive cock up once again.

I don't believe those things are cock up's it's an political game, seen it happening here, in the Netherlands, in Germany, all the same ''oopsie'' mistake at one or more points sounds more like strategy to me.

Okay it's insulating employees directly, but it's a repeat of the growth suppression mistake she made last year. I mean it's literally the exact same thing. The only interesting point is it's delayed until 2029 so I think they will be hoping to either not implement it or will not be in power (more likely).

And on the OBR, clearly it's not functioning well. Every single prediction I can recall in the last year or few has been subsequently revised down. So they are making a systematic error, or you would expect some forecasts to be out the other way. In turn this not only leads to uncertainty but also disrupts actual governance because the goal posts are always changing.

Combined with the early release, I would guess we'd see a positive market reaction to some firings there.

I think those delayed things are because they planned some more outrage inducing measurements to be introduced in those years, like for example pay per mile combustion cars.

 

[Beebo]

Has she said how the pm charge for EVs will be policed ? I assume some sort of self assessment which sounds like a disaster waiting to happen? Or will there be a hidden small print that all EVs have to have a black box?

I think you pay an annual estimate, say £300 for 10,000 miles.
Then when the car is serviced or MOT’d you either pay more or get a rebate depending on actual miles. Or when you sell it.
So yes there needs to be some sort of honesty. But fiddling mileage on an EV is probably quite tricky, but I’m sure there will be work arounds soon.

 

[Psamathe]

Has she said how the pm charge for EVs will be policed ? I assume some sort of self assessment which sounds like a disaster waiting to happen? Or will there be a hidden small print that all EVs have to have a black box?

Do EVs have a yearly MOT (after a certain age)? That records mileage on ICE vehicles. Between new and start of any official safety check could be self declared verified on any sale or 1st safety check.

 

[dutchguylivingintheuk]

Has she said how the pm charge for EVs will be policed ? I assume some sort of self assessment which sounds like a disaster waiting to happen? Or will there be a hidden small print that all EVs have to have a black box?

they just call China they have all that data anyway...