have budgets always been this political ? Personally i would have liked a bit more honest critique than an hour of saying everything and we are great , magic money tree and all that . It seemed a bit lacking in gravitas frankly
It was beautifully presented budget. Although Reeves's response is very much better that I (or Starmer) could have done.
well maybe if you are a tory spin doctor but budgets are supposed to be a grown up presentation of the state of the finances - you would have thought given the massive debt more intelligent contributions could have been made than x billion spend on this and x billion on that
Lots of giveaways, very little takeaways until after the next election (looks like Spring 2023).
The headlines and the presentation are all the RedWall is interested in, and on that score all boxes ticked.
From my back of a fag paper calculations it looks like a full time employee on UC will be better off after today's budget than if they'd kept the £20 uplift but not touched the taper. Whereas they'd have been worse off even with the Living Wage boost had it not been touched.
Plus the benefit of a lower taper is the poverty trap is reduced for if they do some overtime or get a pay-rise.
People should be able to rely on work and not welfare.
Devil will be in the detail but I'm a happy bunny today. I'm still worse off personally due the NI changes, but the poorest who work are better off so this is a big first step in the right direction.
And it comes in by the 1st December
My only bug with that is that the £20 uplift should have been kept until 30 November then.
But people keeping more of their own income, instead of relying upon the state, is a positive step in the right direction. 👍
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
Last time I visited my octogenarian step-mother: I think that may help your point (apart from the bigoted bit).
I'm absolutely delighted the Chancellor has recognised UC Taper is a tax. Ending this is something I've been personally arguing about for twenty one years (since I started my Economics degree and discovered this).
I am delighted today. We need to end the poverty trap.
This is only a step though. It needs to go further. Much further.
There has to be some taper though, or are you arguing for a Universal Income?
I am arguing for what Milton Friedman called a Negative Income Tax, or what others have called a Universal Income.
A single defined benefit amount per person, a single defined tax rate, and that's it. Yes those earning millions get the benefit but so frigging they're paying for it and it will just net off their tax rate like tax allowance does (or did) previously.
Currently we have a "New York Skyline" set of tax rates that shoot up and down. 20%, 40%, 60% or 75% depending upon what you earn. Going up and down, up and down with no discernible reason and creating artificial thresholds that discourage work.
Fair enough. I can think of a few problems, but no system is without those.
There are, but there are so many other benefits eg reduces tax and benefits abuse, reduces poverty, much simpler to administer, potential for merging with state pension, student maintenance loan, maternity benefit, etc, etc. Can in fact elliminate most benefits.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
I have a bottle of sherry in the cupboard. I never touch it, yet it mysteriously goes down over time.
Mix it with Blue WKD and it takes just like Vimto.
What? When I left for lunch, it was going to be Bridget Phillipson. What happened to her - did she drop out too, or was that fake news (put about, presumably, so that people like me would go googling Bridget Phillipson)?
From my back of a fag paper calculations it looks like a full time employee on UC will be better off after today's budget than if they'd kept the £20 uplift but not touched the taper. Whereas they'd have been worse off even with the Living Wage boost had it not been touched.
Plus the benefit of a lower taper is the poverty trap is reduced for if they do some overtime or get a pay-rise.
People should be able to rely on work and not welfare.
Devil will be in the detail but I'm a happy bunny today. I'm still worse off personally due the NI changes, but the poorest who work are better off so this is a big first step in the right direction.
And it comes in by the 1st December
My only bug with that is that the £20 uplift should have been kept until 30 November then.
But people keeping more of their own income, instead of relying upon the state, is a positive step in the right direction. 👍
The £500 million grant to LA'S is there to mitigate that issue
He’s a bright guy but is, and probably always will be, a quintessential student politician. It’s hard to see him ever developing the common touch that a top class politician needs.
For many of us, the first time we encountered him was as the NUS President massively in favour of tuition fees, because that’s what Uncle Tony said he needed to believe this week.
I served eight years with him on my local council, four years with me in administration and him in opposition, four years the other way around.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
I have a bottle of sherry in the cupboard. I never touch it, yet it mysteriously goes down over time.
Mix it with Blue WKD and it takes just like Vimto.
I hope that wasn't a recommendation. How did you find that out?
I'm absolutely delighted the Chancellor has recognised UC Taper is a tax. Ending this is something I've been personally arguing about for twenty one years (since I started my Economics degree and discovered this).
I am delighted today. We need to end the poverty trap.
This is only a step though. It needs to go further. Much further.
There has to be some taper though, or are you arguing for a Universal Income?
I am arguing for what Milton Friedman called a Negative Income Tax, or what others have called a Universal Income.
A single defined benefit amount per person, a single defined tax rate, and that's it. Yes those earning millions get the benefit but so frigging they're paying for it and it will just net off their tax rate like tax allowance does (or did) previously.
Currently we have a "New York Skyline" set of tax rates that shoot up and down. 20%, 40%, 60% or 75% depending upon what you earn. Going up and down, up and down with no discernible reason and creating artificial thresholds that discourage work.
Fair enough. I can think of a few problems, but no system is without those.
There are, but there are so many other benefits eg reduces tax and benefits abuse, reduces poverty, much simpler to administer, potential for merging with state pension, student maintenance loan, maternity benefit, etc, etc. Can in fact elliminate most benefits.
The biggest advantage of UBI is the elimination of hundreds of thousands of bureaucrats, the biggest disadvantage is that the level of it becomes a massive political football, with parties competing at elections on what next year’s UBI will be.
I'm absolutely delighted the Chancellor has recognised UC Taper is a tax. Ending this is something I've been personally arguing about for twenty one years (since I started my Economics degree and discovered this).
I am delighted today. We need to end the poverty trap.
This is only a step though. It needs to go further. Much further.
There has to be some taper though, or are you arguing for a Universal Income?
I am arguing for what Milton Friedman called a Negative Income Tax, or what others have called a Universal Income.
A single defined benefit amount per person, a single defined tax rate, and that's it. Yes those earning millions get the benefit but so frigging they're paying for it and it will just net off their tax rate like tax allowance does (or did) previously.
Currently we have a "New York Skyline" set of tax rates that shoot up and down. 20%, 40%, 60% or 75% depending upon what you earn. Going up and down, up and down with no discernible reason and creating artificial thresholds that discourage work.
Fair enough. I can think of a few problems, but no system is without those.
There are, but there are so many other benefits eg reduces tax and benefits abuse, reduces poverty, much simpler to administer, potential for merging with state pension, student maintenance loan, maternity benefit, etc, etc. Can in fact elliminate most benefits.
My main worry is that demands would be made to make it “in addition to” rather than “instead of” most benefits, or that the list of additional benefits would creep up with time. Additionally if it is enough to live on then how many would decide that it was easier to do that than work: if it is not enough to live on then additional benefits would be needed to prevent people starving and we are back to where we started.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
I have a bottle of sherry in the cupboard. I never touch it, yet it mysteriously goes down over time.
Mix it with Blue WKD and it takes just like Vimto.
I hope that wasn't a recommendation. How did you find that out?
A friend said it one night while I was in a pub. Apparently its called a Cheeky Vimto.
We all drank it that night and polished off the pub's rather dusty bottle of sherry.
What? When I left for lunch, it was going to be Bridget Phillipson. What happened to her - did she drop out too, or was that fake news (put about, presumably, so that people like me would go googling Bridget Phillipson)?
Twas fake news.
Huh. Fair enough. At least I now know who Bridget Phillipson is. And also what her middle name is. It's 'Maeve'.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
I have a bottle of sherry in the cupboard. I never touch it, yet it mysteriously goes down over time.
Mix it with Blue WKD and it takes just like Vimto.
“Cheeky Vimto”, was that sherry or port with the WKD?
Also the “Cheeky Shandy”, a bottle of Beck’s and a bottle of Smirnoff Ice, which you could drink straight down.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
I have a bottle of sherry in the cupboard. I never touch it, yet it mysteriously goes down over time.
Mix it with Blue WKD and it takes just like Vimto.
I hope that wasn't a recommendation. How did you find that out?
A friend said it one night while I was in a pub. Apparently its called a Cheeky Vimto.
We all drank it that night and polished off the pub's rather dusty bottle of sherry.
Beer & Coke in equal measures with a shot or two of Amaretto = Dr Pepper
He’s a bright guy but is, and probably always will be, a quintessential student politician. It’s hard to see him ever developing the common touch that a top class politician needs.
Reeves on the other hand was excellent, and there was me thinking she will struggle here to critique what is essentially a Labour budget that TSE will hate.
A stonking performance from Rachel Reeves and Bet365 have cut her to 7/1 from 16/1 to replace Keir Starmer. Nonetheless, she should have been saved for the budget debate over the next couple of days.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
I have a bottle of sherry in the cupboard. I never touch it, yet it mysteriously goes down over time.
Mix it with Blue WKD and it takes just like Vimto.
“Cheeky Vimto”, was that sherry or port with the WKD?
Also the “Cheeky Shandy”, a bottle of Beck’s and a bottle of Smirnoff Ice, which you could drink straight down.
I know a half beer with Smirnoff Ice to be a "Turbo Shandy"
I headed to Tesco for lunch and paid via self serve, so it's the first time I've really noticed - when did the 16 yr old minimum age come in for energy drinks ?
have budgets always been this political ? Personally i would have liked a bit more honest critique than an hour of saying everything and we are great , magic money tree and all that . It seemed a bit lacking in gravitas frankly
It was beautifully presented budget. Although Reeves's response is very much better that I (or Starmer) could have done.
well maybe if you are a tory spin doctor but budgets are supposed to be a grown up presentation of the state of the finances - you would have thought given the massive debt more intelligent contributions could have been made than x billion spend on this and x billion on that
Lots of giveaways, very little takeaways until after the next election (looks like Spring 2023).
The headlines and the presentation are all the RedWall is interested in, and on that score all boxes ticked.
Though bear in mind the chunky tax rises already pre-announced.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
I have a bottle of sherry in the cupboard. I never touch it, yet it mysteriously goes down over time.
Mix it with Blue WKD and it takes just like Vimto.
“Cheeky Vimto”, was that sherry or port with the WKD?
Also the “Cheeky Shandy”, a bottle of Beck’s and a bottle of Smirnoff Ice, which you could drink straight down.
Oh shoot you're right, its port not sherry. 😳
You may be pleased to know I have neither WKD, nor sherry, nor port in my home and its not something I normally drink.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
I have a bottle of sherry in the cupboard. I never touch it, yet it mysteriously goes down over time.
The only use I have for sherry is to add it to Christmas cake. The bottle I have has lasted about 8 years. Drinking it on its own is pleasant but always seems to put me in a melancholy mood. So now when I make Christmas cake I do so in the company of a cheerier drink, like whisky or port.
From my back of a fag paper calculations it looks like a full time employee on UC will be better off after today's budget than if they'd kept the £20 uplift but not touched the taper. Whereas they'd have been worse off even with the Living Wage boost had it not been touched.
Plus the benefit of a lower taper is the poverty trap is reduced for if they do some overtime or get a pay-rise.
People should be able to rely on work and not welfare.
Devil will be in the detail but I'm a happy bunny today. I'm still worse off personally due the NI changes, but the poorest who work are better off so this is a big first step in the right direction.
Back on board the Boris bus, thank goodness for that!
From my back of a fag paper calculations it looks like a full time employee on UC will be better off after today's budget than if they'd kept the £20 uplift but not touched the taper. Whereas they'd have been worse off even with the Living Wage boost had it not been touched.
Plus the benefit of a lower taper is the poverty trap is reduced for if they do some overtime or get a pay-rise.
People should be able to rely on work and not welfare.
Devil will be in the detail but I'm a happy bunny today. I'm still worse off personally due the NI changes, but the poorest who work are better off so this is a big first step in the right direction.
And it comes in by the 1st December
My only bug with that is that the £20 uplift should have been kept until 30 November then.
But people keeping more of their own income, instead of relying upon the state, is a positive step in the right direction. 👍
A little shock that encourages people to go in search of work may not do that much harm...
A stonking performance from Rachel Reeves and Bet365 have cut her to 7/1 from 16/1 to replace Keir Starmer. Nonetheless, she should have been saved for the budget debate over the next couple of days.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
I have a bottle of sherry in the cupboard. I never touch it, yet it mysteriously goes down over time.
have budgets always been this political ? Personally i would have liked a bit more honest critique than an hour of saying everything and we are great , magic money tree and all that . It seemed a bit lacking in gravitas frankly
It was beautifully presented budget. Although Reeves's response is very much better that I (or Starmer) could have done.
well maybe if you are a tory spin doctor but budgets are supposed to be a grown up presentation of the state of the finances - you would have thought given the massive debt more intelligent contributions could have been made than x billion spend on this and x billion on that
Lots of giveaways, very little takeaways until after the next election (looks like Spring 2023).
The headlines and the presentation are all the RedWall is interested in, and on that score all boxes ticked.
Though bear in mind the chunky tax rises already pre-announced.
With two budgets a year, the tax rises can be doubled up
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
I have a bottle of sherry in the cupboard. I never touch it, yet it mysteriously goes down over time.
Mix it with Blue WKD and it takes just like Vimto.
“Cheeky Vimto”, was that sherry or port with the WKD?
Also the “Cheeky Shandy”, a bottle of Beck’s and a bottle of Smirnoff Ice, which you could drink straight down.
Oh shoot you're right, its port not sherry. 😳
You may be pleased to know I have neither WKD, nor sherry, nor port in my home and its not something I normally drink.
This is why I like pb: it’s the only site I know where people will be persuaded by an argument/evidence and admit to being wrong.
From my back of a fag paper calculations it looks like a full time employee on UC will be better off after today's budget than if they'd kept the £20 uplift but not touched the taper. Whereas they'd have been worse off even with the Living Wage boost had it not been touched.
Plus the benefit of a lower taper is the poverty trap is reduced for if they do some overtime or get a pay-rise.
People should be able to rely on work and not welfare.
Devil will be in the detail but I'm a happy bunny today. I'm still worse off personally due the NI changes, but the poorest who work are better off so this is a big first step in the right direction.
Back on board the Boris bus, thank goodness for that!
Maybe.
This is an issue I care passionately about which I've been campaigning about for years. Its not like I've suddenly just discovered this issue - this is something I did a paper on nearly two decades ago and is something I have long really cared about. There's a reason why when it was named other posters name-checked me on it, this is something I've been advocating for here.
The devil will be in the details. It will be interesting to see if this stands up in the light of day but if it does then Rishi may have won me back with this move.
But I'll want further such steps in the future, this isn't the end of the line as far as I'm concerned.
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
From my back of a fag paper calculations it looks like a full time employee on UC will be better off after today's budget than if they'd kept the £20 uplift but not touched the taper. Whereas they'd have been worse off even with the Living Wage boost had it not been touched.
Plus the benefit of a lower taper is the poverty trap is reduced for if they do some overtime or get a pay-rise.
People should be able to rely on work and not welfare.
Devil will be in the detail but I'm a happy bunny today. I'm still worse off personally due the NI changes, but the poorest who work are better off so this is a big first step in the right direction.
And it comes in by the 1st December
My only bug with that is that the £20 uplift should have been kept until 30 November then.
But people keeping more of their own income, instead of relying upon the state, is a positive step in the right direction. 👍
A little shock that encourages people to go in search of work may not do that much harm...
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
A stonking performance from Rachel Reeves and Bet365 have cut her to 7/1 from 16/1 to replace Keir Starmer. Nonetheless, she should have been saved for the budget debate over the next couple of days.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
I have a bottle of sherry in the cupboard. I never touch it, yet it mysteriously goes down over time.
Mix it with Blue WKD and it takes just like Vimto.
“Cheeky Vimto”, was that sherry or port with the WKD?
Also the “Cheeky Shandy”, a bottle of Beck’s and a bottle of Smirnoff Ice, which you could drink straight down.
Oh shoot you're right, its port not sherry. 😳
You may be pleased to know I have neither WKD, nor sherry, nor port in my home and its not something I normally drink.
Quick and think of a name for your WKD + sherry invention.
A stonking performance from Rachel Reeves and Bet365 have cut her to 7/1 from 16/1 to replace Keir Starmer. Nonetheless, she should have been saved for the budget debate over the next couple of days.
Rishi PM v Rachel LOTO would be very interesting
The best two politicians in the UK at present
That's you drummed out of the Boris fan club!
I have been drummed out of the conservative party completely by @HYUFD
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
When I worked in a convenience store, there were a few elderly customers who used to buy cheap sherry, by the litre, at least once a week. Either a lot of drinking or a lot of fruitcakes.*
We do have a bottle of dry sherry, it comes into a few recipes, not only cakes but also some marinades.
*Of the edible variety, although also applies to some of those customers. There was one used to bark 'boy' at me and tell me to hurry up. Obviously I had a special go-slow mode just for him.
I headed to Tesco for lunch and paid via self serve, so it's the first time I've really noticed - when did the 16 yr old minimum age come in for energy drinks ?
Shop driven, not law. Possibly concerns about being sued if misused by young kids. Govt have talked about a ban, but afaik not introduced such legislation.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
A glass of sherry? Not since my parents died. Sherry is ever-present in the house, but used exclusively as an ingredient in Asian cuisine.
There was so much in this budget that undid the work of George Osborne's budgets, that I found a lot to like, the centrepiece being the cut in the Universal Credit taper.
As to how it's being paid for, worth remembering the freeze to thresholds, which means anticipated inflation of 4% results in a considerable tax increase.
Lots I don't like too, of course, but special mention to the cut in alcohol duty for draught beer and cider - a change that I've suggested on here many times.
Also the annual cancellation of the fuel duty rise is beyond absurd now. It's a complete fiction at this stage that a rise is planned and then cancelled. It's become such a pointless tradition that Chancellors might continue it right up until the point that sales of fossil-sourced motor fuels are eventually banned.
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
She was right to lead off with what most people are seeing day-to-day; the rising price of fuel, home heating, food and the rest; rather than the fiscal issues within the budget that will pass most people by. And to zero in on the NI rise unreasonably handing the bill to ordinary working people.
I headed to Tesco for lunch and paid via self serve, so it's the first time I've really noticed - when did the 16 yr old minimum age come in for energy drinks ?
Shop driven, not law. Possibly concerns about being sued if misused by young kids. Govt have talked about a ban, but afaik not introduced such legislation.
my daughter (17 ) got stopped from buying some red bull the other day so i presumed the law (she had no id on her ) .
Much to the annoyance of @HYUFD I have long since said that Boris and HMG have moved left and to use another one of his quotes and has put their tanks on labour's lawn
A stonking performance from Rachel Reeves and Bet365 have cut her to 7/1 from 16/1 to replace Keir Starmer. Nonetheless, she should have been saved for the budget debate over the next couple of days.
Rishi PM v Rachel LOTO would be very interesting
The best two politicians in the UK at present
That's you drummed out of the Boris fan club!
I have been drummed out of the conservative party completely by @HYUFD
It's all for the best BigG., you don't want to be hanging around with riff-raff.
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
The Queen's Gambit!
very good although ironically Beth Harmen in the drama series actually played the Sicilian opening not the Queens Gambit in most of the games
There was so much in this budget that undid the work of George Osborne's budgets, that I found a lot to like, the centrepiece being the cut in the Universal Credit taper.
As to how it's being paid for, worth remembering the freeze to thresholds, which means anticipated inflation of 4% results in a considerable tax increase.
Lots I don't like too, of course, but special mention to the cut in alcohol duty for draught beer and cider - a change that I've suggested on here many times.
Also the annual cancellation of the fuel duty rise is beyond absurd now. It's a complete fiction at this stage that a rise is planned and then cancelled. It's become such a pointless tradition that Chancellors might continue it right up until the point that sales of fossil-sourced motor fuels are eventually banned.
Raising fuel duty only extends the hole you need to fill, which grows every year from 2030 onwards (As no new ICE cars are sold). So I think it's a long term fool's errand to raise it now.
Higher duty on port and sherry, no rise in duty on whiskey and spirits and cut in duty on beer
I'd have thought port and sherry were the signature drinks of the bigoted retired home owner core vote, and not drink in massive quantities by anybody. When did anyone here last have a glass of sherry?
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
She was right to lead off with what most people are seeing day-to-day; the rising price of fuel, home heating, food and the rest; rather than the fiscal issues within the budget that will pass most people by. And to zero in on the NI rise unreasonably handing the bill to ordinary working people.
It was so refreshing to hear a Labour shadchan focusing laser-like on putting money back in working peoples' pockets and cost of living. That is what Labour is for: the clue, as I often write on here, is in the name.
She also delivered the speech with absolute aplomb, despite having no rehearsal as it was dropped on her at the last minute.
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
The Queen's Gambit!
very good although ironically Beth Harmen in the drama series actually played the Sicilian opening not the Queens Gambit in most of the games
The Queens Gambit is a horrible play - best to leave your queen to fight in the middle and long run.
"While goods trade with the rest of the world experienced similarly sharp falls at the start of the pandemic, in August it had recovered to 7% below average 2019 levels whereas total goods trade with the EU remained down 15%"
(12% NIC + 20% Income Tax) + 63% Taper = 74.84% Real Marginal Tax Rate pre NIC rise. (13.25% NIC + 20% Income Tax) + 63% Taper = 75.3% Real Marginal Tax Rate post NIC rise. (13.25% NIC + 20% Income Tax) + 55% Taper = 70% Real Marginal Tax Rate post Taper change.
So previously people were keeping ~25p in every £1 they earnt, now they'll be keeping 30p in every extra £1 they earn.
So a big step in the right direction, for them much more than offsetting the NIC rise. But this shouldn't be the end of the matter, its still inexcusable that the poorest in society are facing a 70% Real Tax Rate and that needs to be fixed.
Nobody should be taxed over half of their marginal income, let alone the poorest.
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
The Queen's Gambit!
very good although ironically Beth Harmen in the drama series actually played the Sicilian opening not the Queens Gambit in most of the games
The Sicilian is an opening for black, whereas the Queen's Gambit is an opening for white, so this is not really a contradiction. Although yes, there wasn't really a focus game in the series in which the titular opening actually featured.
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
The Queen's Gambit!
very good although ironically Beth Harmen in the drama series actually played the Sicilian opening not the Queens Gambit in most of the games
That's excellent knowledge. I like a game of chess but am very poor at it and therefore can only play against fellow novices. I read that the actual gameplay in the series is superb – and brings a whole new level to the drama for those that are serious students of the game?
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
The Queen's Gambit!
very good although ironically Beth Harmen in the drama series actually played the Sicilian opening not the Queens Gambit in most of the games
The Queens Gambit is a horrible play - best to leave your queen to fight in the middle and long run.
My personal favourite is the two knights defence, as both black and white.
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
The Queen's Gambit!
very good although ironically Beth Harmen in the drama series actually played the Sicilian opening not the Queens Gambit in most of the games
The Queens Gambit is a horrible play - best to leave your queen to fight in the middle and long run.
I am no expert (but play a bit) but this is a good video analysing how Beth Harmen played in the Tv series
I'm coming late to this and I understand that there is some financial planning going on at the government level but on the issue of the day anyone who doesn't have a bottle of Fino sherry in the fridge to be drunk while cooking or indeed of an early evening with an olive is surely on the way to savagery.
It was a very well planned budget going back to the NI increase and then leaking good news and finally delivering a clever budget and no further surprise tax increases
I've just spent 45 minutes with my specialists and press team working out the underlying messages from this budget. What's really interesting is how when you dig under the surface, what you thought the budget was about turns out not to be the full story. We've done a quick fire version of what the journalists will now spend the next few days doing.
The absences from this budget really were stark: absolutely no indication or appetite for addressing any of the difficult long term issues in the tax system - the fudge on business rates being a good example, but also no announcements on capital gains and taxation of employment vs self-employment. Nothing meaningful at all on net zero (unless you count a BR relief for fitting solar panels on your shop and some continuing counter-environmental measures like reducing APD). No mention of things that will be going up, like the 12.5% temporary VAT rate for hospitality which was conspicuous by its absence.
Our person looking at the red book was saying how remarkably small the fiscal impact of all today's announcements were, one way or the other. It was a tactical rather than strategic budget, full of pet projects and the picking of winners.
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
The Queen's Gambit!
very good although ironically Beth Harmen in the drama series actually played the Sicilian opening not the Queens Gambit in most of the games
The Queens Gambit is a horrible play - best to leave your queen to fight in the middle and long run.
My personal favourite is the two knights defence, as both black and white.
That would have put me on tilt straight away as either black or white so you'd probably beat me at chess.
I'm coming late to this and I understand that there is some financial planning going on at the government level but on the issue of the day anyone who doesn't have a bottle of Fino sherry in the fridge to be drunk while cooking or indeed of an early evening with an olive is surely on the way to savagery.
Your fridge must be a sight to behold, swinging open the door to reveal a row of neatly stacked bottles of Fino and a shelf of individually wrapped single olives.
There was so much in this budget that undid the work of George Osborne's budgets, that I found a lot to like, the centrepiece being the cut in the Universal Credit taper.
As to how it's being paid for, worth remembering the freeze to thresholds, which means anticipated inflation of 4% results in a considerable tax increase.
Lots I don't like too, of course, but special mention to the cut in alcohol duty for draught beer and cider - a change that I've suggested on here many times.
Also the annual cancellation of the fuel duty rise is beyond absurd now. It's a complete fiction at this stage that a rise is planned and then cancelled. It's become such a pointless tradition that Chancellors might continue it right up until the point that sales of fossil-sourced motor fuels are eventually banned.
Raising fuel duty only extends the hole you need to fill, which grows every year from 2030 onwards (As no new ICE cars are sold). So I think it's a long term fool's errand to raise it now.
I would interpret that as an opportunity for ICE duty to help fund the transition has been turned down.
I think that’s right. Taken together with the NI increase earlier in the year, it was largely indistinguishable from a new labour budget.
Dull, competent centrism.
Hmmm, as to your last statement.
As I recall the charge against Brown and Darling budgets by the Tories was one of "the books don't balance". Well if that was a central plank of New Labour budgets Sunak's budget dovetails in nicely.
I think that’s right. Taken together with the NI increase earlier in the year, it was largely indistinguishable from a new labour budget.
Dull, competent centrism.
The big news on Rishi is that despite getting the job for fear that his predecessor wouldn’t perform as the clown’s patsy, he seems to have managed to keep his boss out of it and consequently followed through on being both dull and competent.
I'm coming late to this and I understand that there is some financial planning going on at the government level but on the issue of the day anyone who doesn't have a bottle of Fino sherry in the fridge to be drunk while cooking or indeed of an early evening with an olive is surely on the way to savagery.
Your fridge must be a sight to behold, swinging open the door to reveal a row of neatly stacked bottles of Fino and a shelf of individually wrapped single olives.
Crazy talk. The olive fridge is full to brimming. As is the sherry fridge.
It was a very well planned budget going back to the NI increase and then leaking good news and finally delivering a clever budget and no further surprise tax increases
You've been through the detail very quickly.
There isn't much to it and most people who read the budget know the quick find shortcuts that allow you to pick up the facts of interest...
One incredible thing to note is that the OBR originally forecast unemployment to peak at 12%, now its forecast to peak at 5.2%
5% used to be considered full employment. Incredible to have a recession where unemployment peaks at 0.2% above that.
The story beneath is that the burden of working, and supporting the rest of us through taxation, is falling on a diminishing proportion of the population. There are far too many middle aged and older people who think that ‘managing’ a few rental properties is an occupation.
I headed to Tesco for lunch and paid via self serve, so it's the first time I've really noticed - when did the 16 yr old minimum age come in for energy drinks ?
Shop driven, not law. Possibly concerns about being sued if misused by young kids. Govt have talked about a ban, but afaik not introduced such legislation.
A kid at my daughters school needed medical attention after drinking too many of some hyper-caffeinated energy drink.
Some of them have terrifying amounts of caffeine in them.
There was so much in this budget that undid the work of George Osborne's budgets, that I found a lot to like, the centrepiece being the cut in the Universal Credit taper.
As to how it's being paid for, worth remembering the freeze to thresholds, which means anticipated inflation of 4% results in a considerable tax increase.
Lots I don't like too, of course, but special mention to the cut in alcohol duty for draught beer and cider - a change that I've suggested on here many times.
Also the annual cancellation of the fuel duty rise is beyond absurd now. It's a complete fiction at this stage that a rise is planned and then cancelled. It's become such a pointless tradition that Chancellors might continue it right up until the point that sales of fossil-sourced motor fuels are eventually banned.
Raising fuel duty only extends the hole you need to fill, which grows every year from 2030 onwards (As no new ICE cars are sold). So I think it's a long term fool's errand to raise it now.
Fuel Duty is a nightmare for Chancellors - it’s one of very few products where the price is very visible, it raises something like £30bn a year, but cars are getting more fuel-efficient and electric, so it’s going to reduce over the next few years. The government needs to find a way to deal with those reduced revenues.
It was a very well planned budget going back to the NI increase and then leaking good news and finally delivering a clever budget and no further surprise tax increases
You've been through the detail very quickly.
Did you even listen to it as you claim you do not listen or watch the media
I think that’s right. Taken together with the NI increase earlier in the year, it was largely indistinguishable from a new labour budget.
Dull, competent centrism.
The big news on Rishi is that despite getting the job for fear that his predecessor wouldn’t perform as the clown’s patsy, he seems to have managed to keep his boss out of it and consequently followed through on being both dull and competent.
Yes, perhaps Sunak's greatest achievement is dodging the banana skins the clown has thrown under his feet.
Unlike various political gurus who infamously claim to be able to play 4D chess, Rachel Reeves provably can play the game, having won the UK Under-14s Ladies Championship in her youth.
The Queen's Gambit!
very good although ironically Beth Harmen in the drama series actually played the Sicilian opening not the Queens Gambit in most of the games
That's excellent knowledge. I like a game of chess but am very poor at it and therefore can only play against fellow novices. I read that the actual gameplay in the series is superb – and brings a whole new level to the drama for those that are serious students of the game?
The games are mostly based on real-world historical games, and Garry Kasparov and Bruce Pandolfini were hired as consultants to make sure the games made sense in context. The scene where the US champion tells Harmon she missed something in a previous tournament win (that, luckily, her opponent also missed) is based on a genuine anecdote from when that game was actually played.
There are some nice YouTube analyses of the games, including discussion of the differences between the actual and fictional versions where relevant.
Mr. Malmesbury, I was bemused to hear from someone at a rare social gathering a few weeks ago they wouldn't drink coke (I was) because of the caffeine.
Given I drink tea, and coffee, and regularly have chocolate, it seemed a slightly puritanical approach.
Mr. Sandpit, don't worry. Sinners' taxes on sugar, carbon dioxide emissions, and smiling will soon plug the gap.
Comments
The headlines and the presentation are all the RedWall is interested in, and on that score all boxes ticked.
But people keeping more of their own income, instead of relying upon the state, is a positive step in the right direction. 👍
Additionally if it is enough to live on then how many would decide that it was easier to do that than work: if it is not enough to live on then additional benefits would be needed to prevent people starving and we are back to where we started.
We all drank it that night and polished off the pub's rather dusty bottle of sherry.
Also the “Cheeky Shandy”, a bottle of Beck’s and a bottle of Smirnoff Ice, which you could drink straight down.
You may be pleased to know I have neither WKD, nor sherry, nor port in my home and its not something I normally drink.
Drinking it on its own is pleasant but always seems to put me in a melancholy mood. So now when I make Christmas cake I do so in the company of a cheerier drink, like whisky or port.
Euro narrative about to change to "booster jabs are taking vaccinations from developing countries"
https://www.gov.uk/government/publications/autumn-budget-and-spending-review-2021-documents
The best two politicians in the UK at present
This is an issue I care passionately about which I've been campaigning about for years. Its not like I've suddenly just discovered this issue - this is something I did a paper on nearly two decades ago and is something I have long really cared about. There's a reason why when it was named other posters name-checked me on it, this is something I've been advocating for here.
The devil will be in the details. It will be interesting to see if this stands up in the light of day but if it does then Rishi may have won me back with this move.
But I'll want further such steps in the future, this isn't the end of the line as far as I'm concerned.
The Queen's Gambit!
We do have a bottle of dry sherry, it comes into a few recipes, not only cakes but also some marinades.
*Of the edible variety, although also applies to some of those customers. There was one used to bark 'boy' at me and tell me to hurry up. Obviously I had a special go-slow mode just for him.
There was so much in this budget that undid the work of George Osborne's budgets, that I found a lot to like, the centrepiece being the cut in the Universal Credit taper.
As to how it's being paid for, worth remembering the freeze to thresholds, which means anticipated inflation of 4% results in a considerable tax increase.
Lots I don't like too, of course, but special mention to the cut in alcohol duty for draught beer and cider - a change that I've suggested on here many times.
Also the annual cancellation of the fuel duty rise is beyond absurd now. It's a complete fiction at this stage that a rise is planned and then cancelled. It's become such a pointless tradition that Chancellors might continue it right up until the point that sales of fossil-sourced motor fuels are eventually banned.
She also delivered the speech with absolute aplomb, despite having no rehearsal as it was dropped on her at the last minute.
Very, very impressive.
"While goods trade with the rest of the world experienced similarly sharp falls at the start of the pandemic, in August it had recovered to 7% below average 2019 levels whereas total goods trade with the EU remained down 15%"
https://twitter.com/e_casalicchio/status/1453352247790800897
Dull, competent centrism.
(12% NIC + 20% Income Tax) + 63% Taper = 74.84% Real Marginal Tax Rate pre NIC rise.
(13.25% NIC + 20% Income Tax) + 63% Taper = 75.3% Real Marginal Tax Rate post NIC rise.
(13.25% NIC + 20% Income Tax) + 55% Taper = 70% Real Marginal Tax Rate post Taper change.
So previously people were keeping ~25p in every £1 they earnt, now they'll be keeping 30p in every extra £1 they earn.
So a big step in the right direction, for them much more than offsetting the NIC rise. But this shouldn't be the end of the matter, its still inexcusable that the poorest in society are facing a 70% Real Tax Rate and that needs to be fixed.
Nobody should be taxed over half of their marginal income, let alone the poorest.
https://www.youtube.com/watch?v=65VWIFlc4C4&t=169s
The absences from this budget really were stark: absolutely no indication or appetite for addressing any of the difficult long term issues in the tax system - the fudge on business rates being a good example, but also no announcements on capital gains and taxation of employment vs self-employment. Nothing meaningful at all on net zero (unless you count a BR relief for fitting solar panels on your shop and some continuing counter-environmental measures like reducing APD). No mention of things that will be going up, like the 12.5% temporary VAT rate for hospitality which was conspicuous by its absence.
Our person looking at the red book was saying how remarkably small the fiscal impact of all today's announcements were, one way or the other. It was a tactical rather than strategic budget, full of pet projects and the picking of winners.
(I think our APD is now perhaps only 50% higher than the next one in Europe).
As I recall the charge against Brown and Darling budgets by the Tories was one of "the books don't balance". Well if that was a central plank of New Labour budgets Sunak's budget dovetails in nicely.
To be fair, in many areas (notably energy) this has been a failing of others too. But especially so now.
5% used to be considered full employment. Incredible to have a recession where unemployment peaks at 0.2% above that.
4 "billion" and 51 "Bn" in the budget speech text as published.
Some of them have terrifying amounts of caffeine in them.
There are some nice YouTube analyses of the games, including discussion of the differences between the actual and fictional versions where relevant.
Given I drink tea, and coffee, and regularly have chocolate, it seemed a slightly puritanical approach.
Mr. Sandpit, don't worry. Sinners' taxes on sugar, carbon dioxide emissions, and smiling will soon plug the gap.