Class 2 NI contributions scrapped - I guess this means some of the benefit/pension rules have to be re-written. Would like some explanation of how you get rid of the annual tax return.
@PaulBrandITV: Labour look genuinely miserable. Arms crossed. Stoney-faced. Chancellor has left them glum. 'Cheer up Labour' shout Tories #Budget2015
Still awaiting ICM data tables, but the part-ELBOW for polls so far this week excluding ICM puts Labour 0.8% ahead, compared with "0.0% growth" for week-ending 15th March!
The look on Vince's face with the £10 with the Tories comment.
Vince couldn't even bring himself to nod let alone smile during PMQs when the PM described the employment situation. I mean he's business secretary so he should at least have acknowledged it, perhaps even be happy about it.
Steve Fisher retweeted Fraser Nelson @FraserNelson 2m2 minutes ago Growth was good last year, will be okay in years to come. But overall? The slowest recovery in history #Budget2015
Prof Fisher says slowest recovery in history
Try again. A large chunk of the economy was destroyed by the recession. A large chunk Brown thought was permanent and could be milked was destroyed by his incompetence.
All recessions destroy value in the economy. Then the economy recovers, usually quite quite quickly.
This one is the exception. Osborne is the exception.
The look on Vince's face with the £10 with the Tories comment.
Vince couldn't even bring himself to nod let alone smile during PMQs when the PM described the employment situation. I mean he's business secretary so he should at least have acknowledged it, perhaps even be happy about it.
The flexible ISA idea looks rather like a neat extra tax relief for the rich (and an opportunity to make a little bit of money on a 3 day loan). Surely you just invest up to your full allowance on 4 Apr in year 1, and take it out on 6 Apr, next year put in the same amount plus an additional year's allowance on 4 Apr in year 2... and so on. So basically those with access to liquidity can build up an age-related ISA allowance ready for the day that they have money to invest.
Is that budget going to change many votes? I can't see anything mega.
All the ISA stuff and reduction on tax on saving etc is very nice, but I can't see that many people going well I was going to vote Labour, but have to vote Tory now because of it.
I guess the idea from the Tories is to present Tories as safe pair of hands, don't risk the recovery with Labour....but I don't know, if you were going to vote Labour given Brown's management of economy 2000-2010 (with Miliband and Balls assistance), you don't know much about it and/or care about how they ran the economy.
Ed's telling a lie about people being worse off under this Govt., in spite of numbers given by the Chancellor. Maybe he just couldn't re-write his script whilst on his feet.....
Looks like Osborne has gone for neutering opposition attack lines on the Tories, and spreading around benefits to marginal Tory seats in the SW, Wales and the North. Presumably to give them something from the long-term economic plan to sell to constituents.
A few expected tweaks to ISAs, pensions and tax allowances. National insurance simplification will help with jobs.
Most interesting what he didn't annouce: he's left an awful lot of extra cash/spending room for election commitments by reducing the cuts from £50bn to £30bn, and the 2019/20 surplus down from £23bn to £7bn.
Would like some explanation of how you get rid of the annual tax return.
Me too...
I think he means that there will be a website with input from different sources which you can update any time you want, rather than once a year.
The statement seems a bit meh in general - lots of small things but I doubt if anyone will remember much by next week. Arguably he'd have been better advised to go for one major thing rather than 1p off beer etc.
I think a rabbit would have killed the 'sensible / long term plan' narrative. We got a series of sensible, popular measures but nothing gimmicky. I like.
(...and Ozzy has some great digs at Ed...which is always worth a laugh...)
Ed's telling a lie about people being worse off under this Govt., in spite of numbers given by the Chancellor. Maybe he just couldn't re-write his script whilst on his feet.....
Trust fund and Bullingdon. Oh dear....
"in spite of the numbers given by the Chancellor..."
Ed's telling a lie about people being worse off under this Govt., in spite of numbers given by the Chancellor. Maybe he just couldn't re-write his script whilst on his feet.....
Trust fund and Bullingdon. Oh dear....
"in spite of the numbers given by the Chancellor..."
LOL
The official statistics of the nation. Either Labour accept them or they don't. If they don't then it makes them look petty because it is telling a story the don't want to hear.
Ed's telling a lie about people being worse off under this Govt., in spite of numbers given by the Chancellor. Maybe he just couldn't re-write his script whilst on his feet.....
Trust fund and Bullingdon. Oh dear....
No, it will just be that is what he had prepared on his crib sheet and as we have seen Ed doesn't do thinking on his feet very well. He has done this things loads of times at PMQ's, he has something prepped and then can't adjust.
Would like some explanation of how you get rid of the annual tax return.
Me too...
I think he means that there will be a website with input from different sources which you can update any time you want, rather than once a year.
The statement seems a bit meh in general - lots of small things but I doubt if anyone will remember much by next week. Arguably he'd have been better advised to go for one major thing rather than 1p off beer etc.
It was a very straightforward budget.
On the annual return point, it is easier to imagine for small businesses that have live, documented accounts. From what the Chancellor said I imagine these can be ported to your tax.
Miliband has a decent "out of step with ordinary families" line, but beyond that he is faltering (other than repeating it). Some mention of VAT, which wasn't mentioned in the budget...
Help to buy ISA - basically it is tax relief on saving for a deposit on your home.
Supposing I just sold my house that I owned in my sole name, and have something like £50k after paying the mortgage. Now imagine that my wife, who I married after I bought the house, has never owned a home. Will Osborne give her £12.5k for saving £50k towards her first home? Entirely hypothetical, like.
I wonder where Labour have got this idea Tories want to ramp up VAT even further...somebody leaking or just scaremongering. It seems to have come out of nowhere today, rather than the CUTTTSSSSSSSSSSSSSSSSSSSSS attack.
I sat next to someone at supper last night who is not a fan of politicians as a whole.
But he said George had popped over for lunch last week and was really very impressive. Absolutely on top of his brief and everyone else's as well: and really answered the questions, thoughtfully and in detail. He was very very impressed.
...He then contrasted him explicitly with a number of other (former) Cabinet rank politicians who we both knew very well... decidedly in George's favour.
/trollalanbrooke
Bankers think George is great, no surprise, they don't actually work for a living.
But when Richard Nabavi says Osborne is a failure, then you know the Tories are struggling
Many of my friends are bankers and they work longer hours than anyone I know.
I loved the 'dead fish eyes' of the retired dirty cop in Breaking Bad - Mike? He's in Better Call Saul now and very good. After a verrrrrrrry slow start that spin-off is into its stride a la Breaking Bad quality.
How will the £1,000 tax free savings interest work for basic rate taxpayers (and higher rate taxpayers below £100k pa who don't, thusfar, get sent a tax return)? Either banks will simply not deduct tax on anybody's interest (meaning the above mentioned who do earn more than £1k in interest have to fill in a tax return), or they will continue at 20% (meaning everyone then has to claim it back, to the limit of their eligibility)?
How will the £1,000 tax free savings interest work for basic rate taxpayers (and higher rate taxpayers below £100k pa who don't, thusfar, get sent a tax return)? Either banks will simply not deduct tax on anybody's interest (meaning the above mentioned who do earn more than £1k in interest have to fill in a tax return), or they will continue at 20% (meaning everyone then has to claim it back, to the limit of their eligibility)?
Isn't this a logistical nightmare just unleashed?
Why not scrap all tax on savings?
There must be a handful of people who receive more than £1,000 in savings income but do not already submit a tax return.
Not sure that is going to have the impact the Tories were hoping for.
Steady as she goes. I think it will entrench the current expectations of Con most seats but not win them the election.
Either the Lib Dems vetoed a lot of stuff, or the Tories decided to keep their powder dry. Maybe they wanted to create wiggle room for purely party political annoucements once parliament dissolves, and to put in their manifesto.
Not sure that is going to have the impact the Tories were hoping for.
Steady as she goes. I think it will entrench the current expectations of Con most seats but not win them the election.
Either the Lib Dems vetoed a lot of stuff, or the Tories decided to keep their powder dry. Maybe they wanted to create wiggle room for purely party political annoucements once parliament dissolves, and to put in their manifesto.
I wonder where Labour have got this idea Tories want to ramp up VAT even further...somebody leaking or just scaremongering. It seems to have come out of nowhere today, rather than the CUTTTSSSSSSSSSSSSSSSSSSSSS attack.
Yeah, it's odd isn't it ? It's not even like they've done it before or anything.
Steve Fisher retweeted Fraser Nelson @FraserNelson 2m2 minutes ago Growth was good last year, will be okay in years to come. But overall? The slowest recovery in history #Budget2015
Prof Fisher says slowest recovery in history
Try again. A large chunk of the economy was destroyed by the recession. A large chunk Brown thought was permanent and could be milked was destroyed by his incompetence.
All recessions destroy value in the economy. Then the economy recovers, usually quite quite quickly.
This one is the exception. Osborne is the exception.
BenM:
Please go away and research into the difference between a cyclical recession (caused by over-investment) and one caused by a gumming up of the financial system.
And then come back and explain to us why this time it's different.
EdM really needs a voice coach - he sounds either desperate, 16yrs old or shouty door-slamming.
It's his most unattractive feature. It's all projected from the back of his throat, not his diaphragm. After all this time, one would think he'd have fixed this habit.
Comments
Budgets rarely really shift votes on polling day - I think this may.
To quote Tony B "we are just going to have to trust you on this one"
*gets out horse-whip*
Personal savings allowance!
This one is the exception. Osborne is the exception.
Pudsey = https://www.youtube.com/watch?v=sCcSDZ_ando - and he has his own movie deal... cripes!
It's called "empathy", something you and Plato will need to look up in a dictionary, because it is an alien concept for both of you.
All the ISA stuff and reduction on tax on saving etc is very nice, but I can't see that many people going well I was going to vote Labour, but have to vote Tory now because of it.
I guess the idea from the Tories is to present Tories as safe pair of hands, don't risk the recovery with Labour....but I don't know, if you were going to vote Labour given Brown's management of economy 2000-2010 (with Miliband and Balls assistance), you don't know much about it and/or care about how they ran the economy.
Trust fund and Bullingdon. Oh dear....
A few expected tweaks to ISAs, pensions and tax allowances. National insurance simplification will help with jobs.
Most interesting what he didn't annouce: he's left an awful lot of extra cash/spending room for election commitments by reducing the cuts from £50bn to £30bn, and the 2019/20 surplus down from £23bn to £7bn.
The statement seems a bit meh in general - lots of small things but I doubt if anyone will remember much by next week. Arguably he'd have been better advised to go for one major thing rather than 1p off beer etc.
Astonishing news about giving people money to pay for a deposit. Terrible, terrible idea.
(edit: fewer taxes?)
(...and Ozzy has some great digs at Ed...which is always worth a laugh...)
LOL
Has the world gone mad?
twitter.com/Grabcocque/status/578187531461763072
On the annual return point, it is easier to imagine for small businesses that have live, documented accounts. From what the Chancellor said I imagine these can be ported to your tax.
Detail available here.
GO invents a different measure.
Couldn't make it up.
This is rambling and, importantly, has no narrative. It's all over the shop.
Summary: Worthy But Pointless?
https://www.gov.uk/government/speeches/chancellor-george-osbornes-budget-2015-speech
'Tax' 84
'Million' 29
'Billion' 29
Tory backbenchers complete disrespect
Isn't this a logistical nightmare just unleashed?
Why not scrap all tax on savings?
Oh Turpin.
Utter fabrication. Some of Osborne's claims - particularly the debt falling as % of GDP - will be ripped apart.
Got to love the credulity of Tory pom pom wavers like Flightpath.
https://uk.finance.yahoo.com/news/uk-budget-2015--george-osborne-speech-transcript-in-full-134123886.html?utm_source=dlvr.it&utm_medium=twitter
At least seven foreign tourists and a Tunisian have been killed after gunmen targeted a museum in the Tunisian capital, officials say.
http://www.bbc.co.uk/news/world-africa-31941672
Probably a bit of both.
Please go away and research into the difference between a cyclical recession (caused by over-investment) and one caused by a gumming up of the financial system.
And then come back and explain to us why this time it's different.
Maybe the Lib-Dems blocked it!
It's his most unattractive feature. It's all projected from the back of his throat, not his diaphragm. After all this time, one would think he'd have fixed this habit.
The election hinges on whether voters are daft enough to throw it all away.