Budget 2025

[First Aspect]

I think you are right, but by the same token if it's not affecting most people at least it is somewhat progressive.

 

[briantrumpet]

General perception from most of your comments (thanks all) is that this is mostly tinkering and kicking really hard decisions a year closer to the elections, in the hope that "something will turn up".

 

[First Aspect]

No idea. How much head room does she think she has?

 

[Pblakeney]

General perception from most of your comments (thanks all) is that this is mostly tinkering and kicking really hard decisions a year closer to the elections, in the hope that "something will turn up".

That's my impression too. They are just following on from the last lot. And the next lot will do exactly the same.
I guess it is possible to kick the can down the road while burying your head in the sand. Likely poorly, which is apt.

 

[Beebo]

General perception from most of your comments (thanks all) is that this is mostly tinkering and kicking really hard decisions a year closer to the elections, in the hope that "something will turn up".

After all the endless speculation, it was pretty boring.
Why did the government let the speculation run so long.
At one point in the summer people were even discussing the possibility of paying tax on profits from the sale of your main residence, which was clearly never going to happen. I remember having an argument with a guy in a pub telling him it was never going to happen.

 

[icowden]

It does have to happen eventually though, to replace fuel duty.

Does it though? Norway don't have pay per mile. They just keep increasing fuel duty and taxes on ICE cars, which causes more people to buy EVs.

 

[CXRAndy]

Sickness and disability spending soaring to £109bn

 

[Pblakeney]

Does it though? Norway don't have pay per mile. They just keep increasing fuel duty and taxes on ICE cars, which causes more people to buy EVs.

That is good lateral thinking.
What happens when there are no more ICE cars though?

 

[CXRAndy]

Im not sure of the pricing for different vehicles re PPM. It will all come out in the detail

Assuming they actually get to 2028

 

[icowden]

That is good lateral thinking.
What happens when there are no more ICE cars though?

They are now starting to cut back on the "no VAY" rule for EVs - so yes, it does creep in. But then Norway is close to 50% EVs now.

 

[laurentian]

One wonders how this budget would have been received today if there hadn't been all the leaks, briefings etc. in the preceding weeks . . .

 

[Beebo]

They are now starting to cut back on the "no VAY" rule for EVs - so yes, it does creep in. But then Norway is close to 50% EVs now.

The benefit in kind for EV company cars will get ratcheted back up soon too.

 

[Pross]

I saw a stat that said the personal allowance freeze will bring an additional 780,000 people into basic rate tax, from being no tax payers by the end of the 2030/31 tax year!
That's good for very low earners ......... not!

It's a bizarre way to get around upsetting people by raising income tax and completely the opposite to what they should do IMHO (increase income tax and raise the personal allowance so the lowest earners are protected).

 

[Pross]

According to my research this means:

• £0.05 per mile for ICE (based on current fuel duty)
• £0.03 per mile for EV

Not sure how the calculation works out for plug in hybrids. I suspect somewhere in the middle.

If they're going to pay per mile they really ought to do it for all vehicles.

 

[Pross]

Why are they taxing savings? Seems another overly complicated issue. You can’t save more into an isa and anything outside the isa gets taxed higher?

“tax on some savers will go up
From April 2027, there will be a two percentage point increase to the basic, higher and additional rates of savings income tax, increasing them to 22%, 42% and 47% respectively.
Most people do not save enough to fall into paying income tax on their savings, but it does make the system more complicated.
There will also be increases in the rates of tax on dividends and property income.”

Trying to discourage saving altogether so people spend their money and boost the economy? Obviously for years they've been claiming they want people to save more.