Howdy, Stranger!

It looks like you're new here. Sign in or register to get started.

Options

politicalbetting.com » Blog Archive » The last budget of the 2010-2015 parliament

12467

Comments

  • Options
    CyclefreeCyclefree Posts: 25,254
    Re the deliciousness of pigs: There is an Italian chocolate cake called "Sanguinaccio" which is made with pig's blood - a sort of Chocolatey Black Pudding though with LOTS of chocolate.

    It is utterly delicious and can be found at some Italian restaurants in Soho.
  • Options
    Philip_ThompsonPhilip_Thompson Posts: 65,826

    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?

    Why would you need to submit a tax return when that is being pretty much abolished? Presumably it would work by the exact same way the tax return has been abolished, automated submissions to HMRC. I'd hazard a guess that the banks by default don't charge tax, send automatically to HMRC using your NI number the value of interest paid. Once £1000 is reached HMRC send an automated message back to start charging tax again.

    Its how automatic submissions for income taxes and NI work, why wouldn't it work with interest?
  • Options
    FlightpathFlightpath Posts: 4,012
    BenM said:

    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.
    Try again - you only demonstrate how clueless you are. We had a massive structural deficit. One which turned out to be even bigger than expected. The banking sector was shrunken significantly and at the same time because of both domestic and international requirements the banks had to repair their balance sheets, increase their reserves rather than lend. All thanks to Gordon Brown and the Labour Party.
  • Options
    CharlesCharles Posts: 35,758

    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.

    Presumably neutralising the "back to the 30s" line, which IIRC was rounding anyway?
  • Options
    MarqueeMarkMarqueeMark Posts: 50,193

    The election hinges on whether voters are daft enough to throw it all away.

    That's a hell of a risk...!

  • Options
    CharlesCharles Posts: 35,758

    Would like some explanation of how you get rid of the annual tax return.

    Me too...
    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.
    You mean you won't be able to argue that it's a political budget and point to one measure that sounds big?

    My heart bleeds for you, Nick, it really does...
  • Options
    MarqueeMarkMarqueeMark Posts: 50,193
    Ed really does sound like Kevin the Teenager.
  • Options
    GrandioseGrandiose Posts: 2,323
    BenM said:

    Official ONS figures show people are worse off.

    GO invents a different measure.

    Couldn't make it up.

    Indeed. Where did he get the 5% rise in GDP per Capita stat? No official source.

    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.
    http://www.ons.gov.uk/ons/datasets-and-tables/data-selector.html?cdid=IHXW&dataset=ukea&table-id=X11 (chained)

    http://www.ons.gov.uk/ons/datasets-and-tables/data-selector.html?cdid=IHXT&dataset=ukea&table-id=X11 (current)
  • Options
    FloaterFloater Posts: 14,195
    Pong said:

    Taaaaaaaaaax

    You are the Labour party and I claim my £5
  • Options
    Scott_PScott_P Posts: 51,453
    Ed says the Tories have a secret plan...
  • Options
    FrancisUrquhartFrancisUrquhart Posts: 76,333
    edited March 2015
    Uninspiring England Test Squad...

    Alastair Cook (capt, Essex), Adam Lyth (Yorkshire), Jonathan Trott (Warwickshire), Gary Ballance, Joe Root (both Yorkshire), Ian Bell (Warwickshire), Ben Stokes (Durham), Jos Buttler (wk, Lancashire), Jonathan Bairstow (wk), Adil Rashid, Liam Plunkett (all Yorkshire), Stuart Broad (Nottinghamshire), James Anderson (Lancashire), Chris Jordan (Sussex), Mark Wood (Durham), James Tredwell (Kent)

    No Tymal Mills for example.

    Tredwell has hardly played 4 day cricket over past 2 seasons and been c##p when he has.

    Plunkett never test match bowler. Been tried and tried and isn't good enough.
  • Options
    FlightpathFlightpath Posts: 4,012

    Election winning budget? Hmmmm...... Not sure.

    I'm not sure either. But it is not an election losing budget. It shows the economy is moving along and is under control.
    The government have not dropped the ball.
  • Options
    OblitusSumMeOblitusSumMe Posts: 9,143
    edited March 2015

    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?

    From the Treasury fact sheet:

    "From April 2016 banks and building societies will stop automatically taking 20% in income tax from the interest earned on your non-ISA savings"
  • Options
    PlatoPlato Posts: 15,724
    A fellow student of mine back in the 80s was Italian and boiled up pig's blood to make a paste that she spread on toast.

    The idea turned my stomach, but she assured me I was missing a treat.

    I remain to be convinced.
    Cyclefree said:

    Re the deliciousness of pigs: There is an Italian chocolate cake called "Sanguinaccio" which is made with pig's blood - a sort of Chocolatey Black Pudding though with LOTS of chocolate.

    It is utterly delicious and can be found at some Italian restaurants in Soho.

  • Options
    Scott_PScott_P Posts: 51,453
    @JohnRentoul: Now EdM ruining his case by mindless exaggeration: secret plans to cut the NHS. He should have stuck to the Red Book #Budget2015
  • Options
    TOPPINGTOPPING Posts: 41,540
    There is no doubt that responding to these set-pieces is a hugely difficult task.

    There is also no doubt that EdM is simply not up to the job.
  • Options
    chestnutchestnut Posts: 7,341

    Ed really does sound like Kevin the Teenager.

    It's just a stream of buzzwords.
  • Options
    TGOHFTGOHF Posts: 21,633
    Robert Peston ‏@Peston 32s32 seconds ago

    Not sure I understand ed_miliband's interpretation of table 2.4 of red book, which shows less austerity than autumn statement #budget2015
  • Options
    DaemonBarberDaemonBarber Posts: 1,626
    edited March 2015
    Secret spending cuts, secret tax rises, can't be trusted, NHS...
  • Options

    Uninspiring England Test Squad...

    Alastair Cook (capt, Essex), Adam Lyth (Yorkshire), Jonathan Trott (Warwickshire), Gary Ballance, Joe Root (both Yorkshire), Ian Bell (Warwickshire), Ben Stokes (Durham), Jos Buttler (wk, Lancashire), Jonathan Bairstow (wk), Adil Rashid, Liam Plunkett (all Yorkshire), Stuart Broad (Nottinghamshire), James Anderson (Lancashire), Chris Jordan (Sussex), Mark Wood (Durham), James Tredwell (Kent)

    No Tymal Mills for example.

    Tredwell has hardly played 4 day cricket over past 2 seasons and been c##p when he has.

    Plunkett never test match bowler. Been tried and tried and isn't good enough.

    A squad with Yorkshiremen is anything but uninspiring.
  • Options
    TGOHFTGOHF Posts: 21,633
    Scott_P said:

    Ed says the Tories have a secret plan...

    From secret Canadians ?
  • Options
    PlatoPlato Posts: 15,724
    If David Cameron sounded like this - I wouldn't vote for him. Maybe that's the issue Labour voters express in the polls.

    Ed really does sound like Kevin the Teenager.

  • Options
    Scott_PScott_P Posts: 51,453
    @MrJacHart: The NHS, NHS, NHS, the Tories, the bankers, the bonuses... Ed Miliband is a walking Harry Enfield sketch #Budget2015
  • Options
    FrancisUrquhartFrancisUrquhart Posts: 76,333
    TGOHF said:

    Robert Peston ‏@Peston 32s32 seconds ago

    Not sure I understand ed_miliband's interpretation of table 2.4 of red book, which shows less austerity than autumn statement #budget2015

    It is because when he did his homework, he wrote all that down and now has been wrong footed and will still continue to read from his homework.
  • Options
    MaxPBMaxPB Posts: 37,667
    edited March 2015
    £12.2bn increase in capex over the next period, £23.2bn increase in departmental spending as well, backed by reductions welfare spending and increased tax take.

    Austerity? I think not.
  • Options
    GrandioseGrandiose Posts: 2,323

    Uninspiring England Test Squad...

    Alastair Cook (capt, Essex), Adam Lyth (Yorkshire), Jonathan Trott (Warwickshire), Gary Ballance, Joe Root (both Yorkshire), Ian Bell (Warwickshire), Ben Stokes (Durham), Jos Buttler (wk, Lancashire), Jonathan Bairstow (wk), Adil Rashid, Liam Plunkett (all Yorkshire), Stuart Broad (Nottinghamshire), James Anderson (Lancashire), Chris Jordan (Sussex), Mark Wood (Durham), James Tredwell (Kent)

    No Tymal Mills for example.

    Tredwell has hardly played 4 day cricket over past 2 seasons and been c##p when he has.

    Plunkett never test match bowler. Been tried and tried and isn't good enough.

    A squad with Yorkshiremen is anything but uninspiring.
    And given the County's contribution to jobs growth!
  • Options
    MarqueeMarkMarqueeMark Posts: 50,193

    Election winning budget? Hmmmm...... Not sure.

    I'm not sure either. But it is not an election losing budget. It shows the economy is moving along and is under control.
    The government have not dropped the ball.
    At least our friends on the Left can't say we are being swivel-eyed pom-pom shakers about this Budget...!
  • Options
    TOPPINGTOPPING Posts: 41,540

    Secret spending cuts, secret tax rises, can't be trusted, NHS...

    Spotted by a circling owl.

    Actually EdM is comically bad. Is he drunk? Did he not sleep last night? Is something else up? Very strange.
  • Options
    FlightpathFlightpath Posts: 4,012
    TOPPING said:

    MaxPB said:

    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.
    He is a miserable socialist in the end.
  • Options
    FrancisUrquhartFrancisUrquhart Posts: 76,333
    edited March 2015
    Tories have a secret plan...Labour have.....a piece of paper that says Economic Plan...BANKERS BONUS TAX and MANSION TAX...
  • Options
    FloaterFloater Posts: 14,195
    Pong said:

    rcs1000 said:

    Sounds like Osborne is upping the level of public spending. I wonder if the NHS and Defence will be the beneficiaries.

    I think we should rename "Defence", "Attack". You know, show some purpose in the world.
    "Next year we'll be increasing our attack budget to £15bn, so we can have another go at France"
    That gets my vote :-)
  • Options
    PlatoPlato Posts: 15,724
    I detect #UFOEdM

    Secret spending cuts, secret tax rises, can't be trusted, NHS...

  • Options
    notmenotme Posts: 3,293
    Lots of angry shouty things. A "mansion tax to fund the NHS"? The mansion tax wouldnt even fund a single hospital.
  • Options
    Richard_NabaviRichard_Nabavi Posts: 30,820
    When are we going to get Labour's response to the Budget?
  • Options
    GrandioseGrandiose Posts: 2,323
    TOPPING said:

    Secret spending cuts, secret tax rises, can't be trusted, NHS...

    Spotted by a circling owl.

    Actually EdM is comically bad. Is he drunk? Did he not sleep last night? Is something else up? Very strange.
    It's a tough gig, but Miliband is making it worse. Conspiracy theories about the (Conservative) manifesto... no real structure...
  • Options
    TheScreamingEaglesTheScreamingEagles Posts: 114,714
    edited March 2015
    Grandiose said:

    Uninspiring England Test Squad...

    Alastair Cook (capt, Essex), Adam Lyth (Yorkshire), Jonathan Trott (Warwickshire), Gary Ballance, Joe Root (both Yorkshire), Ian Bell (Warwickshire), Ben Stokes (Durham), Jos Buttler (wk, Lancashire), Jonathan Bairstow (wk), Adil Rashid, Liam Plunkett (all Yorkshire), Stuart Broad (Nottinghamshire), James Anderson (Lancashire), Chris Jordan (Sussex), Mark Wood (Durham), James Tredwell (Kent)

    No Tymal Mills for example.

    Tredwell has hardly played 4 day cricket over past 2 seasons and been c##p when he has.

    Plunkett never test match bowler. Been tried and tried and isn't good enough.

    A squad with Yorkshiremen is anything but uninspiring.
    And given the County's contribution to jobs growth!
    I said yesterday, if Yorkshire doesn't get Full Fiscal Autonomy/Devolution, we will see UDI within 30 years.
  • Options
    TOPPINGTOPPING Posts: 41,540

    Tories have a secret plan...Labour have.....a piece of paper that says Economic Plan...BANKERS BONUS TAX and MANSION TAX...

    Dave's look says it all. Bemused, and, if he has an ounce of humanity in him, feeling sorry for EdM also.
  • Options
    notmenotme Posts: 3,293
    Zero hours contract, foodbanks and bedroom tax.

    It's as if they literally have nothing else.
  • Options
    PlatoPlato Posts: 15,724
    And HEDGE FUNDS!!!!!!!!!!!!!!!!!

    Tories have a secret plan...Labour have.....a piece of paper that says Economic Plan...BANKERS BONUS TAX and MANSION TAX...

  • Options
    FrancisUrquhartFrancisUrquhart Posts: 76,333
    edited March 2015
    Oh god Ed didn't go on Cameron's tiny windmill did he...has he been reading the PB archives for attack lines? Lativan SS Homophobes up next.
  • Options
    FlightpathFlightpath Posts: 4,012

    Election winning budget? Hmmmm...... Not sure.

    I'm not sure either. But it is not an election losing budget. It shows the economy is moving along and is under control.
    The government have not dropped the ball.
    At least our friends on the Left can't say we are being swivel-eyed pom-pom shakers about this Budget...!
    Rah rah rah... Go George Go...!
  • Options
    PlatoPlato Posts: 15,724
    How many kites has EdM flown about secret plans and the NHS?

    It's bizarro conspiracy stuff worthy of Alex Jones AKA Owen Jones.
    notme said:

    Lots of angry shouty things. A "mansion tax to fund the NHS"? The mansion tax wouldnt even fund a single hospital.

  • Options
    SimonStClareSimonStClare Posts: 7,976
    edited March 2015
    Afternoon all.

    Did I hear Ed mention VAT in his reply, despite no mention of it in the budget?
  • Options
    Plato said:

    If David Cameron sounded like this - I wouldn't vote for him. Maybe that's the issue Labour voters express in the polls.

    Ed really does sound like Kevin the Teenager.

    If you are a lisping gimp you are a lispng gimp. Not alot Ed can do about that. It's who he is.
  • Options
    FrancisUrquhartFrancisUrquhart Posts: 76,333
    edited March 2015
    Seems pretty clear what Labour's GE strategy is going to be. Make stuff up that sounds that the Tories are going to do nasty stuff and just repeat endlessly.

    I seemed to remember the only party at the last GE that was going to cut NHS spending was Labour. Imagine what state it would be in now if they had?
  • Options
    SouthamObserverSouthamObserver Posts: 38,987
    I actually thought both GO and EdM did pretty good jobs there. The VAT thing is a very smart move from Labour as the Tories do have form on that. Ensuring they are asked about their plans on VAT constantly during the GE campaign makes sense.
  • Options
    PlatoPlato Posts: 15,724
    A Labour MP mentioned Coulson!!!! in PMQs.

    I reckon a retired dead police horse will feature shortly

    Oh god Ed didn't go on Cameron's tiny windmill did he...has he been reading the PB archives for attack lines? Lativan SS Homophobes up next.

  • Options
    notmenotme Posts: 3,293
    If we have a change of monarch, and after the election, would their first meeting be like this?
    https://youtu.be/T3jIE3b-bhY
  • Options
    weejonnieweejonnie Posts: 3,820

    Afternoon all.

    Did I hear Ed mention VAT in his reply, despite no mention of it in the budget?

    Yes - he has to try and raise bogeymen even if non exist.

    Of course if GO has failed to mention VAT and there are changes, then Dave had better start cancelling the letting agreement on his other property - two kitchens or not.
  • Options
    Crap move on LTA cut
    Crap to review Deed of Variations - seemingly to dig at Ed
    ISA changes welcome but waffly
    Savings interest = buttons, but 20% more of buttons.
    Ed M = gave good rebuttal too.

    So that's 0/3 then for Spurs, ICM and Budget.
  • Options
    SmarmeronSmarmeron Posts: 5,099
    @SimonStClare
    "Did I hear Ed mention VAT in his reply, despite no mention of it in the budget? "

    Didn't the Tories mention VAT before the last election? I seem to remember something, but it was probably unimportant.
  • Options
    Morris_DancerMorris_Dancer Posts: 61,030
    Good afternoon, everyone.

    Didn't watch the Budget. Concerned about the change to the tax return, though. I'm used to the annual paper version. There's an option to do it online already. I don't want to do it online, frankly.
  • Options
    OblitusSumMeOblitusSumMe Posts: 9,143
    MaxPB said:

    MaxPB said:

    Tax on savings cut! Wonderful news.

    given interest rates, that must cost the Treasury all of £2.50 next year.
    Indeed. It will be a very welcome policy and encourage saving, but cost basically nothing to implement.
    It's expected to cost £1bn in 2016-17 according to the Treasury.

    Encouraging saving is a good thing, but it's a minority of the country who have enough income to save more than their ISA allowance anyway, and so only that minority will benefit.
  • Options
    Bob__SykesBob__Sykes Posts: 1,176
    A reasonable Budget I think. Not that gimmicky really in pre-election terms, his hands being tied by his failure to really deliver what he promised in 2010.

    But will it change the polls, really?

    Hm, I have my doubts. The Tories need UKIP's share to collapse in order to win/stay in power.

    Nothing in this Budget does that (or was ever likely to).

    So my verdict - Ed becomes PM in 7 weeks. As was ever likely thus.
  • Options
    BarnesianBarnesian Posts: 8,012
    This budget is not a game-changer. No Wow factor. Bit boring to be honest. But no dropped ball.

    I was interested to hear EdM mention a Tory VAT rise to balance the books. I think this will be a Labour theme.
  • Options
    SouthamObserverSouthamObserver Posts: 38,987
    edited March 2015

    A 'steady as you go' budget is politically and economically exactly correct, given that things are going so well.

    The election hinges on whether voters are daft enough to throw it all away.

    Yep, agree that it was a very smart budget - a giveaway would have been a very bad idea. That said, it does remind me of the one Ken Clarke delivered just before the 97 election.

    Your second point is moot if a lot of voters do not feel there is anything to throw away.

  • Options
    MarkHopkinsMarkHopkins Posts: 5,584

    A reasonable Budget I think. Not that gimmicky really in pre-election terms, his hands being tied by his failure to really deliver what he promised in 2010.

    But will it change the polls, really?

    Hm, I have my doubts. The Tories need UKIP's share to collapse in order to win/stay in power.

    Nothing in this Budget does that (or was ever likely to).

    So my verdict - Ed becomes PM in 7 weeks. As was ever likely thus.


    I guess that gives the Tory campaign seven weeks to save Britain then.

  • Options
    LennonLennon Posts: 1,738
    Just checking the Personal Savings Allowance detail - he suggested £1000 Savings Allowance, which assuming that you are a higher (but not additional rate) taxpayer is £2,500 of Gross Income - at current rates of (say) 2% this equates to £125k of savings. Is my maths correct there or have I missed something?
  • Options
    JonathanDJonathanD Posts: 2,400

    Concerned about the change to the tax return, though. I'm used to the annual paper version. There's an option to do it online already. I don't want to do it online, frankly.

    There will still be the option to turn in a paper assessment even once the fully on-line, real time self assessment system is introduced.

  • Options
    Richard_NabaviRichard_Nabavi Posts: 30,820
    edited March 2015

    Your second point is moot if a lot of voters do not feel there is anything to throw away.

    Indeed, they might not. They will have an unpleasant surprise in that case.

    On your Ken Clarke 1997 comparison: Yes, but there is one absolutely huge difference. Blair, Mandelson and Brown had put an enormous effort into ensuring that they looked ready to govern and were not hostile to business and to prosperity. Ed Miliband has done the opposite.
  • Options

    Good afternoon, everyone.

    Didn't watch the Budget. Concerned about the change to the tax return, though. I'm used to the annual paper version. There's an option to do it online already. I don't want to do it online, frankly.

    I felt the same way - but as a currently non-resident taxpayer I am obliged to. I'm now a convert. It's very easy. Populate the boxes, click a button, see your tax liability before you send, send.
  • Options
    FlightpathFlightpath Posts: 4,012
    TOPPING said:

    There is no doubt that responding to these set-pieces is a hugely difficult task.

    There is also no doubt that EdM is simply not up to the job.

    If you have nothing to say - then why say it? Why not just put forward your alternative? Why ruin anything you might stand for by hyperbole?
  • Options
    Casino_RoyaleCasino_Royale Posts: 55,814
    Maybe Vince is unhappy because he's been made party to some unpleasant Lib Dem private polls in his constituency.
  • Options

    A reasonable Budget I think. Not that gimmicky really in pre-election terms, his hands being tied by his failure to really deliver what he promised in 2010.

    But will it change the polls, really?

    Hm, I have my doubts. The Tories need UKIP's share to collapse in order to win/stay in power.

    Nothing in this Budget does that (or was ever likely to).

    So my verdict - Ed becomes PM in 7 weeks. As was ever likely thus.


    I guess that gives the Tory campaign seven weeks to save Britain then.

    It also reminds me of Ken's budget.
  • Options
    PlatoPlato Posts: 15,724
    I'm off to watch The Good Wife, Elementary and The Flash - lots happening in USLand.
  • Options
    SouthamObserverSouthamObserver Posts: 38,987
    Smarmeron said:

    @SimonStClare
    "Did I hear Ed mention VAT in his reply, despite no mention of it in the budget? "

    Didn't the Tories mention VAT before the last election? I seem to remember something, but it was probably unimportant.

    Yes - they had no plans to put it up before the last election and no plans to put it up before the 92 election. Guess what happened after both.

  • Options
    bigjohnowlsbigjohnowls Posts: 21,916

    Secret spending cuts,

    Not so secret

    They are in the budget book

    Ed even gave you the page and table numbers

    please keep up
  • Options
    Bob__SykesBob__Sykes Posts: 1,176
    Given the record of this Government and previous ones on major IT procurements, I had to laugh at the abolition of paper tax returns, and the setting up of 55 million Individual Tax Accounts with HMRC - a process starting in 2016, to be completed by 2020.

    Yeah right, pull the other one George!

    Presumably it will now fall to Chancellor Balls to oversee the letting of this contract and its implementation. Bet he's happy about that...
  • Options
    GrandioseGrandiose Posts: 2,323
    Patrick said:

    Good afternoon, everyone.

    Didn't watch the Budget. Concerned about the change to the tax return, though. I'm used to the annual paper version. There's an option to do it online already. I don't want to do it online, frankly.

    I felt the same way - but as a currently non-resident taxpayer I am obliged to. I'm now a convert. It's very easy. Populate the boxes, click a button, see your tax liability before you send, send.
    It's certainly got the potential to be quite a detailed change. It sounded more than "do your tax return online" but rather "there will be new ways to populate your tax return throughout the year, of necessity digital since we can't fill in bits of paper automatically"
  • Options
    Lennon said:

    Just checking the Personal Savings Allowance detail - he suggested £1000 Savings Allowance, which assuming that you are a higher (but not additional rate) taxpayer is £2,500 of Gross Income - at current rates of (say) 2% this equates to £125k of savings. Is my maths correct there or have I missed something?

    Details to be seen but he specifically said the cap was £1,000 for basic rate taxpayers and £500 for higher rate payers.

    How the banks are supposed to know what to do here... well...
  • Options
    PulpstarPulpstar Posts: 76,034

    Your second point is moot if a lot of voters do not feel there is anything to throw away.

    Indeed, they might not. They will have an unpleasant surprise in that case.
    You don't think Bibi's stunning victory last night is (sort of) good news for Dave ?

    Or is Israeli polling/elections just far too different - Lebo-Norpoth would probably have predicted that election better than the opinion polls though given Netanyahu's good ratings and the slightly underwhelming ones of Herzog.
  • Options
    MaxPBMaxPB Posts: 37,667

    Secret spending cuts,

    Not so secret

    They are in the budget book

    Ed even gave you the page and table numbers

    please keep up
    I posted the link earlier in the thread, there is a £30bn increase in capital and departmental spending compared to December.
  • Options
    SmarmeronSmarmeron Posts: 5,099
    @SouthamObserver
    I can't remember what happened....But I am sure someone will remind us all, and possibly with full colour video.
  • Options
    FrancisUrquhartFrancisUrquhart Posts: 76,333
    edited March 2015

    Given the record of this Government and previous ones on major IT procurements, I had to laugh at the abolition of paper tax returns, and the setting up of 55 million Individual Tax Accounts with HMRC - a process starting in 2016, to be completed by 2020.

    Yeah right, pull the other one George!

    Presumably it will now fall to Chancellor Balls to oversee the letting of this contract and its implementation. Bet he's happy about that...

    It isn't like HMRC aren't already a shambles and have been for 10+ years.
  • Options
    Richard_NabaviRichard_Nabavi Posts: 30,820
    Pulpstar said:

    You don't think Bibi's stunning victory last night is (sort of) good news for Dave ?

    Or is Israeli polling/elections just far too different - Lebo-Norpoth would probably have predicted that election better than the opinion polls though given Netanyahu's good ratings and the slightly underwhelming ones of Herzog.

    I'm not sure there's any direct read-across, but it's a useful reminder that elections don't always end up as the polls indicate.
  • Options
    SouthamObserverSouthamObserver Posts: 38,987
    Grandiose said:

    Patrick said:

    Good afternoon, everyone.

    Didn't watch the Budget. Concerned about the change to the tax return, though. I'm used to the annual paper version. There's an option to do it online already. I don't want to do it online, frankly.

    I felt the same way - but as a currently non-resident taxpayer I am obliged to. I'm now a convert. It's very easy. Populate the boxes, click a button, see your tax liability before you send, send.
    It's certainly got the potential to be quite a detailed change. It sounded more than "do your tax return online" but rather "there will be new ways to populate your tax return throughout the year, of necessity digital since we can't fill in bits of paper automatically"

    You can already do your tax return online, can't you? I know that I did in the past.

  • Options

    Crap move on LTA cut
    Crap to review Deed of Variations - seemingly to dig at Ed
    ISA changes welcome but waffly
    Savings interest = buttons, but 20% more of buttons.
    Ed M = gave good rebuttal too.

    So that's 0/3 then for Spurs, ICM and Budget.

    With Arsenal going out last night it is 1/4 for you.

    Am I right in thinking than Spurs have gone further in the champions league than Arsenal have in the last five years?
  • Options
    Casino_RoyaleCasino_Royale Posts: 55,814
    Patrick said:

    Plato said:

    If David Cameron sounded like this - I wouldn't vote for him. Maybe that's the issue Labour voters express in the polls.

    Ed really does sound like Kevin the Teenager.

    If you are a lisping gimp you are a lispng gimp. Not alot Ed can do about that. It's who he is.
    It's pretty unfair on Ed, but there's something in that. Trouble is he compounds the stereotype by sounding so wonkish in his language, tone and style.

    A big advantage Cameron has is that he just looks and sounds the part.
  • Options
    SouthamObserverSouthamObserver Posts: 38,987
    Smarmeron said:

    @SouthamObserver
    I can't remember what happened....But I am sure someone will remind us all, and possibly with full colour video.

    Things suddenly got more expensive. VAT was raised :-)

  • Options
    john_zimsjohn_zims Posts: 3,399
    @SouthamObserver

    'Yes - they had no plans to put it up before the last election and no plans to put it up before the 92 election. Guess what happened after both.'

    A bit like New Labour having no plans to increase National Insurance,Council Tax or Income tax.
  • Options
    PulpstarPulpstar Posts: 76,034

    Pulpstar said:

    You don't think Bibi's stunning victory last night is (sort of) good news for Dave ?

    Or is Israeli polling/elections just far too different - Lebo-Norpoth would probably have predicted that election better than the opinion polls though given Netanyahu's good ratings and the slightly underwhelming ones of Herzog.

    I'm not sure there's any direct read-across, but it's a useful reminder that elections don't always end up as the polls indicate.
    Check your inbox - there is a betting idea off the back of that.
  • Options
    Morris_DancerMorris_Dancer Posts: 61,030
    Mr. Patrick, thanks for that post, it's somewhat reassuring.

    That said, I still don't want to be compelled. And, leaving aside my own luddite nature, I don't think forcing people to use electronic/online means of payment generally is acceptable. People should be able to opt out of the internet without being cut off from basic necessities [in the same way, even though I dislike getting cheques, banning them (as proposed) would've been despicable].

    Lots of people love all new tech, lots take a less enthusiastic approach, and some dislike it entirely. There should always be an offline option.
  • Options
    AlanbrookeAlanbrooke Posts: 23,771
    JEO said:

    Charles said:

    @alanbrooke

    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 assume the rest of your friends are retired or under seven.
  • Options
    OblitusSumMeOblitusSumMe Posts: 9,143
    edited March 2015
    Lennon said:

    Just checking the Personal Savings Allowance detail - he suggested £1000 Savings Allowance, which assuming that you are a higher (but not additional rate) taxpayer is £2,500 of Gross Income - at current rates of (say) 2% this equates to £125k of savings. Is my maths correct there or have I missed something?

    I linked to the fact sheet downthread. The £1000 allowance is the interest, not the tax you would pay on that interest, so if you receive £1000pa in interest on your savings (of £50k assuming 2% interest rate) then Osborne has saved you £200 that you would have paid in tax on that.
  • Options
    bigjohnowlsbigjohnowls Posts: 21,916
    Adam Boulton ‏@adamboultonSKY 16m16 minutes ago Hounslow, London
    COMMENT EM keeps it short and delivers his best Budget reply, better speech than GO - for what that's worth.

    Wow if Boulton who usually comes over as a massive Tory is saying that shows how some people on here really need to get real.
  • Options
    tysontyson Posts: 6,052
    Watched the budget- first time for many years. Good performances by Osborne and Miliband, both have upped their games considerably. I can see why Cameron doesn't want to debate Miliband- Miliband's composure and ability to get out his soundbites was really quite good even though he got a bit shouty at times.

    The Tory and Labour camps will walkaway reasonably happy
  • Options
    DaemonBarberDaemonBarber Posts: 1,626

    Grandiose said:

    Patrick said:

    Good afternoon, everyone.

    Didn't watch the Budget. Concerned about the change to the tax return, though. I'm used to the annual paper version. There's an option to do it online already. I don't want to do it online, frankly.

    I felt the same way - but as a currently non-resident taxpayer I am obliged to. I'm now a convert. It's very easy. Populate the boxes, click a button, see your tax liability before you send, send.
    It's certainly got the potential to be quite a detailed change. It sounded more than "do your tax return online" but rather "there will be new ways to populate your tax return throughout the year, of necessity digital since we can't fill in bits of paper automatically"

    You can already do your tax return online, can't you? I know that I did in the past.


    Done my last few returns on-line. A really straight forward system.
    I wait to see the details about the replacement system, but my initial reaction is one of caution.
  • Options
    Sunil_PrasannanSunil_Prasannan Posts: 49,618

    Mr. Patrick, thanks for that post, it's somewhat reassuring.

    That said, I still don't want to be compelled. And, leaving aside my own luddite nature, I don't think forcing people to use electronic/online means of payment generally is acceptable. People should be able to opt out of the internet without being cut off from basic necessities [in the same way, even though I dislike getting cheques, banning them (as proposed) would've been despicable].

    Lots of people love all new tech, lots take a less enthusiastic approach, and some dislike it entirely. There should always be an offline option.

    Mr Dancer, you only have until 31st Oct to fill in a paper return, but doing it online you have until 31st January of the following year.
  • Options
    FloaterFloater Posts: 14,195

    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....

    Seriously?

    what a muppet.
  • Options
    GrandioseGrandiose Posts: 2,323

    Grandiose said:

    Patrick said:

    Good afternoon, everyone.

    Didn't watch the Budget. Concerned about the change to the tax return, though. I'm used to the annual paper version. There's an option to do it online already. I don't want to do it online, frankly.

    I felt the same way - but as a currently non-resident taxpayer I am obliged to. I'm now a convert. It's very easy. Populate the boxes, click a button, see your tax liability before you send, send.
    It's certainly got the potential to be quite a detailed change. It sounded more than "do your tax return online" but rather "there will be new ways to populate your tax return throughout the year, of necessity digital since we can't fill in bits of paper automatically"

    You can already do your tax return online, can't you? I know that I did in the past.

    Oh yes. At the moment you essentially fill out a digital version of your paper return. From the sound of it Osborne wants people like small businesses to upload data in real time (or multiple times a year) from, say, accounts or payroll. For individuals it's a little harder to see, though.
  • Options
    SmarmeronSmarmeron Posts: 5,099
    edited March 2015
    @SouthamObserver
    OMG!.....you mean they lied?
    Never mind, I am sure they kept all their other promises, and there will be plenty of evidence to support this.
  • Options
    CD13CD13 Posts: 6,352
    Unimpressed by both.

    George goes for a bore-fest and Ed does conspiracy theory. I expect there's a store of babies waiting to be consumed.

    In 2010, the Labour literature here was certain that the Tories would cut bus passes and fuel allowances and reduce the NHS to a token service. At least, cuts too unspeakable to be spoken makes a change
  • Options
    OblitusSumMeOblitusSumMe Posts: 9,143
    edited March 2015

    Lennon said:

    Just checking the Personal Savings Allowance detail - he suggested £1000 Savings Allowance, which assuming that you are a higher (but not additional rate) taxpayer is £2,500 of Gross Income - at current rates of (say) 2% this equates to £125k of savings. Is my maths correct there or have I missed something?

    Details to be seen but he specifically said the cap was £1,000 for basic rate taxpayers and £500 for higher rate payers.

    How the banks are supposed to know what to do here... well...
    The banks stop collecting tax on savings entirely. It's up to you to pay any tax due on the tax return that you no longer have to complete.
  • Options
    Morris_DancerMorris_Dancer Posts: 61,030
    Dr. Prasannan, that's the case already.

    And compulsion is another problem.
  • Options
    PulpstarPulpstar Posts: 76,034

    Adam Boulton ‏@adamboultonSKY 16m16 minutes ago Hounslow, London
    COMMENT EM keeps it short and delivers his best Budget reply, better speech than GO - for what that's worth.

    Wow if Boulton who usually comes over as a massive Tory is saying that shows how some people on here really need to get real.

    Dave has seriously pissed off Sky News over the whole debate thing. Check Burley/Boulton twitter feeds.
  • Options
    Scott_PScott_P Posts: 51,453
    Pulpstar said:

    Dave has seriously pissed off Sky News over the whole debate thing. Check Burley/Boulton twitter feeds.

    Cos he outplayed them. On a rival broadcaster
  • Options
    TGOHFTGOHF Posts: 21,633

    Adam Boulton ‏@adamboultonSKY 16m16 minutes ago Hounslow, London
    COMMENT EM keeps it short and delivers his best Budget reply, better speech than GO - for what that's worth.

    Wow if Boulton who usually comes over as a massive Tory is saying that shows how some people on here really need to get real.

    Adam Boulton who is married to Anji Hunter - Tony Blair's director of Government Relations ?

    Yes massive Tory..
  • Options

    Lots of people love all new tech, lots take a less enthusiastic approach, and some dislike it entirely. There should always be an offline option.

    Agree - but over time most will find it easier online. Young people get older! I now pretty much only bank online, change currency online, buy gold online, do my tax online - but with the occasional phone call to sort something out. Those who can't or won't join the 21st century certainly shouldn't be obliged to.
  • Options
    bigjohnowlsbigjohnowls Posts: 21,916
    Floater said:

    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....

    Seriously?

    what a muppet.
    ONS agree with Ed
This discussion has been closed.