The autumn fiscal statement....

[BoldonLad]

Are you talking specifically about road pricing? We have it for other forms of transport such as rail, tube and aviaton. You pay more at peak times and the further you go.

Well, I replied to a post advocating Road pricing, if that gives you a clue.

Road transport already has similar increase in “Price”, ie, the further you travel, the more fuel you use. The peak times variation is more obscure, but, congestion does use more fuel, and, hence, increase the cost.

 

[Beebo]

Real terms Household income is set to fall by 7%, so we are all in for a rough ride.

 

[BoldonLad]

Unless I've missed something, I don't seem to be going to pay any more into the national pot than I was when I woke up, which seems odd.
How as this impacted others?

Real terms Household income is set to fall by 7%, so we are all in for a rough ride.

We are indeed. But, unless I completely miss-understand the measures, some people will be hit harder than others.

For example,

Daughter No4. Single, no children, earning just a little above NMW, in the care sector, not in receipt of any benefits.

She is already in the lower area of the 20% Income Tax band, unless there is massive wage inflation, it is doubtful she will be impacted by the freeze in income tax bands. So, a positive.

The subsidy on. her Gas/Electric will disappear, so, a pretty big negative

Her Council tax can now increase by 5%, rather than 3%, another negative

She will of course have to pay higher prices for food, clothes, public transport, etc, as inflation does it's work.

No doubt there are other examples of situations where the impact will be greater than a 7% fall in living standards, just as there may well be some, who can expect increases in income which will mitigate the effects of inflation.

 

[newfhouse]

angry truckers, cabbies etc. blocking roads.

Like every other day, then.

 

[spen666]

We are indeed. But, unless I completely miss-understand the measures, some people will be hit harder than others.

For example,

Daughter No4. Single, no children, earning just a little above NMW, in the care sector, not in receipt of any benefits.

She is already in the lower area of the 20% Income Tax band, unless there is massive wage inflation, it is doubtful she will be impacted by the freeze in income tax bands. So, a positive.

The subsidy on. her Gas/Electric will disappear, so, a pretty big negative

Her Council tax can now increase by 5%, rather than 3%, another negative

She will of course have to pay higher prices for food, clothes, public transport, etc, as inflation does it's work.

No doubt there are other examples of situations where the impact will be greater than a 7% fall in living standards, just as there may well be some, who can expect increases in income which will mitigate the effects of inflation.

I thought the lower limit above which she is taxed is not being raised, so she will be affected as her nil rate band does not increase in line with inflation

 

[glasgowcyclist]

I am sure it would “work”, but, is rationing by price “fair”?, ie, wouldn’t it hit the poorest the hardest?

No. The poorest aren’t running cars.

 

[Beebo]

There will also be quite a lot of extra people pushed into the 60% tax trap, when income goes over £100,000 and you lose the tax free allowance.

It’s good that the ones who can afford bear the biggest load, but that threshold has never moved. And 60% is a lot.

 

[BoldonLad]

I thought the lower limit above which she is taxed is not being raised, so she will be affected as her nil rate band does not increase in line with inflation

True. It will have an effect in subsequent years. So, the one positive, is a negative. But, tax bands haven’t always been adjusted for inflation. So called Fiscal Drag has been a “tool” of past Governments.

 

[BoldonLad]

No. The poorest aren’t running cars.

Ok, how about “the less well off”. Many Care workers on NMW or just above, run cars. Not Daughter No4, she doesn’t drive, and cycles between calls, usually.

 

[Ian H]

No. The poorest aren’t running cars.

The rural poor often have to.

 

[Beebo]

Rumours that fuel duty could go up 12p a litre. This was tucked away in the small print.

Somehow Hunt forgot to mention this in his budget. But the OBR forecasts have included this.

 

[Deleted member 49]

Any positives ?
I won't hold my breath.

 

[Ian H]

Perhaps a slight exaggeration, but someone said we now have Scandinavian levels of taxation and US levels of social services. Certainly it's heading that way

 

[Bazzer]

I am sure it would “work”, but, is rationing by price “fair”?, ie, wouldn’t it hit the poorest the hardest?

It is payment for use, as are many things. Energy is the most current one. I am sure my employer would like my rail tickets to London to be the same price as it is if I train, rather than cycle to work.
It would probably to take joined up thinking Government to work properly. Something the present lot seem to be sadly lacking.

 

[C R]

This more or less encapsulate my thoughts

https://www.theguardian.com/uk-news/2022/nov/18/timid-jeremy-hunt-fails-to-reform-how-rich-are-taxed

Instead of looking at capital gains the changes just clobber those who earn their money through a salary. Those who live off investment proceeds or can work under umbrella companies are not sharing the burden equally.