@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 :-)
Vat was extended to zero rated domestic fuel in 1993 following the crash out of ERM. I think the intentions to not raise VAT were in that case legitimate. But, Chancellors had a weird habit of trying to balance the books then.
@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.
Unlike Ed Balls...a more honest chap you wont find....I don't think it will be hard to find all the broken promises under Labour, when the two Ed were Gordo's little helpers.
I think most sensible people realise that taxes are going to increase whoever gets in power somewhere. Cuts are never as deep as planned, growth never as good, and so governments always end up snatching some extra tax.
I can't see VAT being the most likely one though. ~20% is roughly what most of Europe charges and it seems obvious to me pre last GE that I think both parties would bump it up.
But more than 20% and I think you will really hit spending etc, unless you make massive cuts in other taxes and a massive overhaul of the whole range of goods that are VATable (which they can't do due to EU).
Is it worth reminding ourselves... Beer duty cut by 1p, cider by 2p, whisky by 2p. Wine duty frozen Tobacco and gaming taxes to remain unchanged New "horse racing betting right" Petrol duty frozen - September's planned increase scrapped The threshold at which people start paying 40p income tax to rise by above inflation from £42,385 in 2014-5 to £43,300 in 2017-8 but The tax-free personal allowance to rise from £10,600 in 2014-5 to £10,800 in 2015-6 and £11,000 in 2016-7. This last one seems less than was being mooted as far as I can recall. Has there been some disagreements in the quid pro pro stakes with the libdems?
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.
I am certainly no EdM fan, but thought he did very well today. The VAT thing is very clever. The one thing we can all do without surely, is the rich boy/Bullingdon taunts. Like Osborne's digs at EdM it's student stuff.
@NCPoliticsUK: In absence of new polls - CON odds shortening on exchanges, most seats implied probability up to 68%, majority up to 17% #GE2015 #Budget2015
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
Can you please provide evidence for that assertion.
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 asked him to say this - no one wants to tip Ed over the edge.
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
Can you please provide evidence for that assertion.
Mr. Patrick, I don't think compelling people to go online is acceptable, to be honest.
I lack faith in the security of government IT projects and databases. And I know if *they* screw up the best case scenario is that *I* will get a shitload of stress and worry, and the worst is I'll be charged tax I don't owe and can't pay.
The current system works. At the very least, it should remain an option.
And what of privacy?
Maybe I'll be convinced. But at first glance, most of what I see are problems. [Checked Twitter. Small businesses seem to like this. But I don't].
Glad that you posted how well it works for you, though.
Mr. Patrick, I don't think compelling people to go online is acceptable, to be honest.
I lack faith in the security of government IT projects and databases. And I know if *they* screw up the best case scenario is that *I* will get a shitload of stress and worry, and the worst is I'll be charged tax I don't owe and can't pay.
The current system works. At the very least, it should remain an option.
And what of privacy?
Maybe I'll be convinced. But at first glance, most of what I see are problems. [Checked Twitter. Small businesses seem to like this. But I don't].
Glad that you posted how well it works for you, though.
I very much doubt it will be online-only. For some that is not only not what they are used to, but actually impossible.
This gets my WTF story of the day > A paedophile who worked at the South Pole has been jailed after he arranged to abuse a young girl while he was based in the Antarctic.
Simon Rouen sent a string of emails to undercover police officers, thinking they could arrange for him to molest an eight-year-old when he returned to the UK.
Mr. Patrick, I don't think compelling people to go online is acceptable, to be honest.
I lack faith in the security of government IT projects and databases. And I know if *they* screw up the best case scenario is that *I* will get a shitload of stress and worry, and the worst is I'll be charged tax I don't owe and can't pay.
The current system works. At the very least, it should remain an option.
And what of privacy?
Maybe I'll be convinced. But at first glance, most of what I see are problems. [Checked Twitter. Small businesses seem to like this. But I don't].
Glad that you posted how well it works for you, though.
You do know the current system is a massive on-line database. The only difference is if you fill in a paper tax form someone else has to rekey that info into the live system (with all the possibility of error)
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.
Assuming HMRC sends you a tax return that is. Things may change when we all have an Individual Tax Account online with HMRC. But there are said to be hundreds of thousands of higher rate taxpayers, me included, who don't get sent a tax return to fill in. I have never been sent one, despite being a higher rate taxpayer for over a decade.
Presumably this change will now mean everyone earning more than £500/£1,000 in savings interest a year but never having done a tax return before - millions of us? - will now be told by HMRC we need to comply with some new bureaucracy in order to pay what savings tax hasn't been deducted/paid. That'll be popular, and presumably also subject to major non-compliance?
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..
You would have thought Alistair Campbell might know wouldn't you 3 mins in.
I think Osborne made a mistake not doing this in the first place....sure Norman Smith will still be banging on about Wigan Pier right up to the GE regardless.
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.
Assuming HMRC sends you a tax return that is. Things may change when we all have an Individual Tax Account online with HMRC. But there are said to be hundreds of thousands of higher rate taxpayers, me included, who don't get sent a tax return to fill in. I have never been sent one, despite being a higher rate taxpayer for over a decade.
Presumably this change will now mean everyone earning more than £500/£1,000 in savings interest a year but never having done a tax return before - millions of us? - will now be told by HMRC we need to comply with some new bureaucracy in order to pay what savings tax hasn't been deducted/paid. That'll be popular, and presumably also subject to major non-compliance?
Osborne says that 95% of savers fall under the £1000/£500 threshold. Of them, many will already be submitting a tax return, so I doubt the numbers are more than hundreds of thousands, at the very most.
@FrancisUrquhart Yes, they will be hunting the archives, but the Tory spinners are facing a small problem. Dave and Ozzie had a far higher profile, and make a far more understandable target for derision than the obscure stuff they can dig out about the two Ed's. But then, everyone knows how the Labour election strategy is going to proceed, it has been obvious over the past month or so. Ironic in a way really, given Dave's attacks on Ed during the parliament?
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..
You would have thought Alistair Campbell might know wouldn't you 3 mins in.
Erhhh you are proving your point really....Hunter and Campbell had a big falling out and have massive history, hence the over the top reactions. Between Boulton and Campbell it is personal, because of very close relationships. Plenty of people are Labour supporters and hate the way Campbell operates.
Another good example Charlie Whelan and Mandleson...Both Labour through and through, but friendly fire doesn't come close to it.
I personally think old fat head does an ok job on balance. He was certainly quite keen on Tony Blair and let that show. He hated Brown, but I doesn't do a bad job these days. He isn't swivel eyed anti-Tory or pro Labour.
What he hates is the professional politician and the spin machine. Maybe again that is due to personal relationships gone bad.
My recollection is that when Labour proposed this tax increase on pensions to fund a cut in tuition fees the reaction of many Tories on here was it would be a disaster, typical of Labour's assault on people saving for themselves, etc, etc.
I must say I am terribly surprised that so many people today are distracted by a juvenile dig at a deed of variation that they have missed that their hero Osborne has raided pensions himself.
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..
You would have thought Alistair Campbell might know wouldn't you 3 mins in.
Erhhh you are proving your point really....Hunter and Campbell had a big falling out and have massive history, hence the over the top reactions. Between Boulton and Campbell it is personal, because of very close relationships. Plenty of people are Labour supporters and hate the way Campbell operates.
Another good example Charlie Whelan and Mandleson...Both Labour through and through, but friendly fire doesn't come close to it.
I personally think old fat head does an ok job on balance. He was certainly quite keen on Tony Blair and let that show, but he doesn't do a bad job these days.
"A consultation on the right - under which bookmakers would pay for the right to bet on British horseracing - had closed only six days previously and while some comment had been expected during the speech, such a firm commitment to the proposal was a surprise."
Looks like a right to LAY horses to me, but the bookies don't like to do that anyway !
Budget 6/10 (fails to address public spending cuts and housing ISA likely by increasing demand will fuel house price rises negating itself )
Osborne 5/10 (good jokes but hubristic, overlooked deficit clearance failure and where the Tories are going to make cuts)
Miliband 3/10 (dreadful rhetoric, lousy jokes, got better when he just dealt with the facts and Tory failings but dishonest in that Labour have to say how they will cover the public sector funding black hole, started fantasising about Tory tax rises and blamed the Tories for the state of the economy in 2010 when its was Labour's fault)
Honestly, saying EdM gave a better speech than GO does not make you a Labour supporter or biased against the Tories. It really doesn't. EdM did give a good speech. It's noteworthy because he does not do it very often.
"People who wish to continue filing an annual paper return will be able to do so."
I hope that includes writers [not that writers aren't people, of course, but it's also a 'business', in a very odd sense of the word].
As an aside: Friday sees a solar eclipse, super-moon, the Vernal Equinox and a new short story by me. So, it'll be an interesting day.
Sadly a decaying cold front is forecast to be crossing the country from north to south, so people may not be able to see much of what is happening in the Heavens. One trusts that your short story will not be delayed by a bunch of suspended water droplets.
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..
You would have thought Alistair Campbell might know wouldn't you 3 mins in.
Erhhh you are proving your point really....Hunter and Campbell had a big falling out and have massive history, hence the over the top reactions. Between Boulton and Campbell it is personal, because of very close relationships. Plenty of people are Labour supporters and hate the way Campbell operates.
Another good example Charlie Whelan and Mandleson...Both Labour through and through, but friendly fire doesn't come close to it.
I personally think old fat head does an ok job on balance. He was certainly quite keen on Tony Blair and let that show, but he doesn't do a bad job these days.
My take is he broadly agreed with Tony Blair's approach, that soft centre left, which Cameron has tried to drag the Tories closer to. But he hates professional politicians and the spin machine...so Cameron's doesn't tick the boxes for that.
But he has all that history and inside knowledge of what a nasty operation was run by some during Labour's time in governemnt. Hence, he dislike for Brown and his followers. When he did interviews with Brown, there was real hatred there. The Two Eds are Brownites, so I don't think he is a big fan of them either.
Result, quite a grumpy man that doesn't really like either leaders that much = reasonable balance.
The "tenner off a tank with the Tories" soundbite was good, but it was a bit misleading of GO to imply it followed from the increase due in September being frozen. If that was 4p a litre (not sure?) then for a typical 50 litre tank that's £2 a tank. So he is presumably saying, "had Labour been in power for the past 5 years and continued increasing fuel duty every year in line with the escalator, then petrol would be £10 a tank more than it will be under us in September".
Which is fair enough, even if steeped in hypotheticals, but he did it in a way that voters listening, or reading, might imply GO cancelling a £10 a tank hike planned for this year - which isn't the case.
Honestly, saying EdM gave a better speech than GO does not make you a Labour supporter or biased against the Tories. It really doesn't. EdM did give a good speech. It's noteworthy because he does not do it very often.
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?
100% correct as ever TSE - Spurs have done better in the CL than Arsenal over many years now....
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
The ONS shout "bullingdon"? You do surprise me - can you point out where?
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..
You would have thought Alistair Campbell might know wouldn't you 3 mins in.
Erhhh you are proving your point really....Hunter and Campbell had a big falling out and have massive history, hence the over the top reactions. Between Boulton and Campbell it is personal, because of very close relationships. Plenty of people are Labour supporters and hate the way Campbell operates.
Another good example Charlie Whelan and Mandleson...Both Labour through and through, but friendly fire doesn't come close to it.
I personally think old fat head does an ok job on balance. He was certainly quite keen on Tony Blair and let that show, but he doesn't do a bad job these days.
My take is he broadly agreed with Tony Blair's approach, that soft centre left, which Cameron has tried to drag the Tories closer to. But he hates professional politicians and the spin machine...so Cameron's doesn't tick the boxes for that.
But he has all that history and inside knowledge of what a nasty operation was run by some during Labour's time in governemnt. Hence, he dislike for Brown and his followers.
But Cameron is a soft-focus rather amateurish Blair, at least in approach and manner, so Bolton must have really despised Blair as a person if that's true.
My recollection is that when Labour proposed this tax increase on pensions to fund a cut in tuition fees the reaction of many Tories on here was it would be a disaster, typical of Labour's assault on people saving for themselves, etc, etc.
Your recollection is wrong, because Labour's proposal included a very much bigger raid on pension contributions.
FWIW I think the latest change is a mistake, for two reasons. Firstly we need to stop messing around with pensions - it's counter-productive to have something so long-term being fiddled with every year - and secondly because the limit is already extremely unfair to those on defined-contribution schemes, who will now be allowed (on current annuity rates) a maximum pension of only around £30K per year, compared with £50K per year in defined-benefit (i.e. largely public-sector nowadays) schemes. This is on a like-for-like comparison of inflation-linked pensions.
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..
You would have thought Alistair Campbell might know wouldn't you 3 mins in.
Erhhh you are proving your point really....Hunter and Campbell had a big falling out and have massive history, hence the over the top reactions. Between Boulton and Campbell it is personal, because of very close relationships. Plenty of people are Labour supporters and hate the way Campbell operates.
Another good example Charlie Whelan and Mandleson...Both Labour through and through, but friendly fire doesn't come close to it.
I personally think old fat head does an ok job on balance. He was certainly quite keen on Tony Blair and let that show, but he doesn't do a bad job these days.
My take is he broadly agreed with Tony Blair's approach, that soft centre left, which Cameron has tried to drag the Tories closer to. But he hates professional politicians and the spin machine...so Cameron's doesn't tick the boxes for that.
But he has all that history and inside knowledge of what a nasty operation was run by some during Labour's time in governemnt. Hence, he dislike for Brown and his followers.
But Cameron is a soft-focus rather amateurish Blair, at least in approach and manner, so Bolton must have really despised Blair as a person if that's true.
I said I thought Boulton's politics matched Blair's general sales pitch, I didn't say he should like Cameron because of it. He despises the spin machine, Bad Al, due to being mislead on a number of occasions. He also knows the inside stories on the nasty stuff Team Brown got up to.
Interesting that Sky almost immediately had Patrick O'Flynn of UKIP on to comment (Got his soundbites in and made no mistakes). No sign of the Libdems so far.
My recollection is that when Labour proposed this tax increase on pensions to fund a cut in tuition fees the reaction of many Tories on here was it would be a disaster, typical of Labour's assault on people saving for themselves, etc, etc.
I must say I am terribly surprised that so many people today are distracted by a juvenile dig at a deed of variation that they have missed that their hero Osborne has raided pensions himself.
No I think that most people were saying he was using the money raised in a stupid area.
Tax on betting (on racing) is a mess -- overseas based bookies don't pay all of it, the levy has long had its critics and the gross profits tax has given the BHA a vested interest in the profits made by bookmakers.
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
The ONS shout "bullingdon"? You do surprise me - can you point out where?
or are you just talking crap again ;-)
No on the official measure of whether you are better off.
Tax on betting (on racing) is a mess -- overseas based bookies don't pay all of it, the levy has long had its critics and the gross profits tax has given the BHA a vested interest in the profits made by bookmakers.
Not true in UK. Point of consumption tax now on betting, came into force recently. Doesn't matter where site is based, it is where the customer is.
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
The ONS shout "bullingdon"? You do surprise me - can you point out where?
or are you just talking crap again ;-)
No on the official measure of whether you are better off.
Tax on betting (on racing) is a mess -- overseas based bookies don't pay all of it, the levy has long had its critics and the gross profits tax has given the BHA a vested interest in the profits made by bookmakers.
thx
dyed-in-the-wool free market capitalist as I am one can't help but admire the (Royal) Hong Kong Jockey Club which funds schools, clinics, community centres, you name it...
The "tenner off a tank with the Tories" soundbite was good, but it was a bit misleading of GO to imply it followed from the increase due in September being frozen. If that was 4p a litre (not sure?) then for a typical 50 litre tank that's £2 a tank. So he is presumably saying, "had Labour been in power for the past 5 years and continued increasing fuel duty every year in line with the escalator, then petrol would be £10 a tank more than it will be under us in September".
Which is fair enough, even if steeped in hypotheticals, but he did it in a way that voters listening, or reading, might imply GO cancelling a £10 a tank hike planned for this year - which isn't the case.
I also want to help families with the cost of filling up a car. It’s a cost that bears heavily on small businesses too. The last government’s plans for a fuel duty escalator meant taxes would rise above inflation every year.
But I want to make sure that the falling oil price is passed on at the pumps. So I am today cancelling the fuel duty increase scheduled for September. Petrol frozen again. It’s the longest duty freeze in over twenty years. It saves a family around £10 every time they fill up their car
I don't read it the way you do. In the directly preceding sentence to the £10 figure he references the longest duty freeze in twenty years - ie clearly referring to the freeze in duty that he has maintained for some years, rather than simply to the change due in September.
My recollection is that when Labour proposed this tax increase on pensions to fund a cut in tuition fees the reaction of many Tories on here was it would be a disaster, typical of Labour's assault on people saving for themselves, etc, etc.
I must say I am terribly surprised that so many people today are distracted by a juvenile dig at a deed of variation that they have missed that their hero Osborne has raided pensions himself.
No I think that most people were saying he was using the money raised in a stupid area.
Osborne is giving people more freedom to use their pension pot and not be tied into annuities.
My recollection is that when Labour proposed this tax increase on pensions to fund a cut in tuition fees the reaction of many Tories on here was it would be a disaster, typical of Labour's assault on people saving for themselves, etc, etc.
I must say I am terribly surprised that so many people today are distracted by a juvenile dig at a deed of variation that they have missed that their hero Osborne has raided pensions himself.
No I think that most people were saying he was using the money raised in a stupid area.
Indeed, the accusation was (rightly) that is would be a nett saving for the most well paid graduates, and would save nothing for graduates making an average income.
"Taxing Scottish Pensioners to reward the next generation of English bankers" was the suggested slogan I believe
Tax on betting (on racing) is a mess -- overseas based bookies don't pay all of it, the levy has long had its critics and the gross profits tax has given the BHA a vested interest in the profits made by bookmakers.
thx
dyed-in-the-wool free market capitalist as I am one can't help but admire the (Royal) Hong Kong Jockey Club which funds schools, clinics, community centres, you name it...
Haha that is great!!
If I ran a bookies where people were sent to prison for betting with anyone else, I would bet to 180% and give a bit of the profit away!
My recollection is that when Labour proposed this tax increase on pensions to fund a cut in tuition fees the reaction of many Tories on here was it would be a disaster, typical of Labour's assault on people saving for themselves, etc, etc.
I must say I am terribly surprised that so many people today are distracted by a juvenile dig at a deed of variation that they have missed that their hero Osborne has raided pensions himself.
No I think that most people were saying he was using the money raised in a stupid area.
Osborne has given people more freedom to use their pension pot. It makes it worth more, it makes them better off.
The waters will close over this budget soon enough. For a supposedly highly political chancellor, George Osborne seems by and large to have gone for the moral high ground.
Tax on betting (on racing) is a mess -- overseas based bookies don't pay all of it, the levy has long had its critics and the gross profits tax has given the BHA a vested interest in the profits made by bookmakers.
An enormous tax on FOBT's would be the right thing to do
My recollection is that when Labour proposed this tax increase on pensions to fund a cut in tuition fees the reaction of many Tories on here was it would be a disaster, typical of Labour's assault on people saving for themselves, etc, etc.
Your recollection is wrong, because Labour's proposal included a very much bigger raid on pension contributions.
FWIW I think the latest change is a mistake, for two reasons. Firstly we need to stop messing around with pensions - it's counter-productive to have something so long-term being fiddled with every year - and secondly because the limit is already extremely unfair to those on defined-contribution schemes, who will now be allowed (on current annuity rates) a maximum pension of only around £30K per year, compared with £50K per year in defined-benefit (i.e. largely public-sector nowadays) schemes. This is on a like-for-like comparison of inflation-linked pensions.
No my recollection is right. It is true that it is just one part of the Labour proposal, but nonetheless it is only because of bias that most right-wing posters on here have glossed over it after there was near-universal condemnation when it was part of a Labour policy.
Pensions are seen as a source of tax revenue by Chancellors from both Labour and Conservatives, perhaps because the tax paid is remote from people's day-to-day budgets, and this is a deplorable way for government to behave when it should be looking out for the long-term wealth of the nation. With the annuity freedom proposal one unfortunately suspects that Osborne is keen on it because the Treasury forecasts it will result in a higher tax take.
I'm glad that you at least are able to criticise it, even though others are ignoring it completely.
Sporting's GE Seats market remains suspended - clearly awaiting the betting market's overall response to today's budget.
Have they factored in the Telegraph story that the new royal baby could be born on election day ?
Black swan ?
How would that affect VI?
Dunno - might affect turnout - watch the news or go out in the rain to vote ?
The weather in the month of Prince George's birth and the month of the wedding of his parents was exceptionally good. No chance of it raining on the day this next Royal is born.
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..
You would have thought Alistair Campbell might know wouldn't you 3 mins in.
Erhhh you are proving your point really....Hunter and Campbell had a big falling out and have massive history, hence the over the top reactions. Between Boulton and Campbell it is personal, because of very close relationships. Plenty of people are Labour supporters and hate the way Campbell operates.
Another good example Charlie Whelan and Mandleson...Both Labour through and through, but friendly fire doesn't come close to it.
I personally think old fat head does an ok job on balance. He was certainly quite keen on Tony Blair and let that show, but he doesn't do a bad job these days.
My take is he broadly agreed with Tony Blair's approach, that soft centre left, which Cameron has tried to drag the Tories closer to. But he hates professional politicians and the spin machine...so Cameron's doesn't tick the boxes for that.
But he has all that history and inside knowledge of what a nasty operation was run by some during Labour's time in governemnt. Hence, he dislike for Brown and his followers.
But Cameron is a soft-focus rather amateurish Blair, at least in approach and manner, so Bolton must have really despised Blair as a person if that's true.
Where Cameron and the tories agreed with Blair was the reform of Education Welfare and Pensions... all of which Blair (with postman Johnson in the lead) backed away from. They have also privatised the Royal Mail which Blair ran away from. Nothing soft focus Left. It was Blair who tried to tack Right but was ultimately defeated.
My recollection is that when Labour proposed this tax increase on pensions to fund a cut in tuition fees the reaction of many Tories on here was it would be a disaster, typical of Labour's assault on people saving for themselves, etc, etc.
I must say I am terribly surprised that so many people today are distracted by a juvenile dig at a deed of variation that they have missed that their hero Osborne has raided pensions himself.
No I think that most people were saying he was using the money raised in a stupid area.
Osborne has given people more freedom to use their pension pot. It makes it worth more, it makes them better off.
There are votes in 'reassuring competence' though. Blair got labour three figure majorities by reassuring people.
Posted at 14:55 Now giving his reaction to the Budget, shadow chancellor Ed Balls tells the BBC that George Osborne is "out of touch with reality". He says that people voting in the forthcoming election need to know that they are voting for huge cuts if they vote Conservative. "Nothing in this Budget changed that picture", he says. The cuts will be deeper in the next three years than in the previous five, and people need to know that, he says. He predicts it will be the police, armed forces and NHS who will bear the brunt.
There is the Labour's pitch for government right there.
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
The ONS shout "bullingdon"? You do surprise me - can you point out where?
or are you just talking crap again ;-)
No on the official measure of whether you are better off.
GO is talking crap and inventing new measures
Bollards
Real household disposable income (RHDI) per capita is the most up to date and comprehensive measure of living standards, used by the OECD, the Office for National Statistics (ONS) and its use welcomed by the UK Statistics Authority, as it takes into account employment levels, the effects of tax and benefits, as well as inflation.
Clearly brand new and invented by GO, you are sounding desperate.
The waters will close over this budget soon enough. For a supposedly highly political chancellor, George Osborne seems by and large to have gone for the moral high ground.
There aren't many votes there.
The budget appears to me one where the Lib Dems have blocked moves on IHT etc so the Tories have stopped their sweeties as a tit for tat.
@ShippersUnbound Worth remembering after all the frenzy: not one mention of the main inheritance tax rate, even in the speech. That awaits the manifesto
I wonder if the budget is basically everything that Lib Dem's would sign off...and then we are going to get the Tory "goodies" as stand alone manifesto cough cough promises.
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
The ONS shout "bullingdon"? You do surprise me - can you point out where?
or are you just talking crap again ;-)
No on the official measure of whether you are better off.
GO is talking crap and inventing new measures
Again, please provide evidence for this assertion. You have said this many times today and not backed it up with any evidence. Is it just more bullshit as usual from you?
One thing I can say is I am better of today than I was in 2010. However, I am certainly not better off now than I was in 2008 and likely never will be. Thanks Labour.
Posted at 14:55 Now giving his reaction to the Budget, shadow chancellor Ed Balls tells the BBC that George Osborne is "out of touch with reality". He says that people voting in the forthcoming election need to know that they are voting for huge cuts if they vote Conservative. "Nothing in this Budget changed that picture", he says. The cuts will be deeper in the next three years than in the previous five, and people need to know that, he says. He predicts it will be the police, armed forces and NHS who will bear the brunt.
There is the Labour's pitch for government right there.
Labours pitch for Government is that they will not be cutting therefore borrowing and spending? Do you think that will work?
The most surprising thing about Eds response today was the lack of criticism of the Governments performance over the past 5 years. Other than the £1600 nonsense he was most focused on the "secret" tory plans for the future.
The waters will close over this budget soon enough. For a supposedly highly political chancellor, George Osborne seems by and large to have gone for the moral high ground.
There aren't many votes there.
As I said earlier, it reminded me very much of the Ken Clarke 97 budget.
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
The ONS shout "bullingdon"? You do surprise me - can you point out where?
or are you just talking crap again ;-)
No on the official measure of whether you are better off.
GO is talking crap and inventing new measures
Bollards
Real household disposable income (RHDI) per capita is the most up to date and comprehensive measure of living standards, used by the OECD, the Office for National Statistics (ONS) and its use welcomed by the UK Statistics Authority, as it takes into account employment levels, the effects of tax and benefits, as well as inflation.
Clearly brand new and invented by GO, you are sounding desperate.I suspect that @bigjohnowls is simply comparing the inflation rate over the past six years with the rate of increase in average earnings, which until recently was comfortably below inflation - hence a squeeze on living standards.
This ignores the effect of the increases in the personal allowance that Osborne has paid for by borrowing money. You might say that the magic money tree has been used to ensure that there hasn't been a decline in living standards.
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..
You would have thought Alistair Campbell might know wouldn't you 3 mins in.
Erhhh you are proving your point really....Hunter and Campbell had a big falling out and have massive history, hence the over the top reactions. Between Boulton and Campbell it is personal, because of very close relationships. Plenty of people are Labour supporters and hate the way Campbell operates.
Another good example Charlie Whelan and Mandleson...Both Labour through and through, but friendly fire doesn't come close to it.
I personally think old fat head does an ok job on balance. He was certainly quite keen on Tony Blair and let that show, but he doesn't do a bad job these days.
My take is he broadly agreed with Tony Blair's approach, that soft centre left, which Cameron has tried to drag the Tories closer to. But he hates professional politicians and the spin machine...so Cameron's doesn't tick the boxes for that.
But he has all that history and inside knowledge of what a nasty operation was run by some during Labour's time in governemnt. Hence, he dislike for Brown and his followers.
But Cameron is a soft-focus rather amateurish Blair, at least in approach and manner, so Bolton must have really despised Blair as a person if that's true.
Where Cameron and the tories agreed with Blair was the reform of Education Welfare and Pensions... all of which Blair (with postman Johnson in the lead) backed away from. They have also privatised the Royal Mail which Blair ran away from. Nothing soft focus Left. It was Blair who tried to tack Right but was ultimately defeated.
Where Cameron and Blair are most similar is their almost complete disregard for domestic policy other than Health and Education and a few symbolic hobby horses, their unwelcome politically driven meddling in our political system and their utterly derelict and often disastrous foreign policy.
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
The ONS shout "bullingdon"? You do surprise me - can you point out where?
or are you just talking crap again ;-)
No on the official measure of whether you are better off.
GO is talking crap and inventing new measures
Bollards
Real household disposable income (RHDI) per capita is the most up to date and comprehensive measure of living standards, used by the OECD, the Office for National Statistics (ONS) and its use welcomed by the UK Statistics Authority, as it takes into account employment levels, the effects of tax and benefits, as well as inflation.
Clearly brand new and invented by GO, you are sounding desperate.
I suspect that @bigjohnowls is simply comparing the inflation rate over the past six years with the rate of increase in average earnings, which until recently was comfortably below inflation - hence a squeeze on living standards.
This ignores the effect of the increases in the personal allowance that Osborne has paid for by borrowing money. You might say that the magic money tree has been used to ensure that there hasn't been a decline in living standards.
He should approve. The change in the personal allowance is a flat rate bonus and so disproportionately benefits low earners. The difference between inflation and earning is a percentage figure and in reality falls heaviest on the "stretched middle" (since the well off did well out of asset inflation from QE*).
The waters will close over this budget soon enough. For a supposedly highly political chancellor, George Osborne seems by and large to have gone for the moral high ground.
There aren't many votes there.
As I said earlier, it reminded me very much of the Ken Clarke 97 budget.
The 97 Tory Gov had already lost their economic competence due to the ERM fiasco, and they were very tired, and faced Tony Blair.
Comments
"class 2 NI" currently trending...
All signed, sealed and delivered is it Scott? or are you suffering from premature "enjubalation" again?
I think most sensible people realise that taxes are going to increase whoever gets in power somewhere. Cuts are never as deep as planned, growth never as good, and so governments always end up snatching some extra tax.
I can't see VAT being the most likely one though. ~20% is roughly what most of Europe charges and it seems obvious to me pre last GE that I think both parties would bump it up.
But more than 20% and I think you will really hit spending etc, unless you make massive cuts in other taxes and a massive overhaul of the whole range of goods that are VATable (which they can't do due to EU).
Beer duty cut by 1p, cider by 2p, whisky by 2p. Wine duty frozen
Tobacco and gaming taxes to remain unchanged
New "horse racing betting right"
Petrol duty frozen - September's planned increase scrapped
The threshold at which people start paying 40p income tax to rise by above inflation from £42,385 in 2014-5 to £43,300 in 2017-8
but
The tax-free personal allowance to rise from £10,600 in 2014-5 to £10,800 in 2015-6 and £11,000 in 2016-7.
This last one seems less than was being mooted as far as I can recall. Has there been some disagreements in the quid pro pro stakes with the libdems?
We should be told.
I lack faith in the security of government IT projects and databases. And I know if *they* screw up the best case scenario is that *I* will get a shitload of stress and worry, and the worst is I'll be charged tax I don't owe and can't pay.
The current system works. At the very least, it should remain an option.
And what of privacy?
Maybe I'll be convinced. But at first glance, most of what I see are problems. [Checked Twitter. Small businesses seem to like this. But I don't].
Glad that you posted how well it works for you, though.
Simon Rouen sent a string of emails to undercover police officers, thinking they could arrange for him to molest an eight-year-old when he returned to the UK.
Read more: http://www.dailymail.co.uk/news/article-3000692/Paedophile-arranged-abuse-young-girl-working-South-Pole.html#ixzz3UkOd2TgI
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Presumably this change will now mean everyone earning more than £500/£1,000 in savings interest a year but never having done a tax return before - millions of us? - will now be told by HMRC we need to comply with some new bureaucracy in order to pay what savings tax hasn't been deducted/paid. That'll be popular, and presumably also subject to major non-compliance?
https://www.youtube.com/watch?v=1gkHwU4DRA8
I think Osborne made a mistake not doing this in the first place....sure Norman Smith will still be banging on about Wigan Pier right up to the GE regardless.
http://www.bbc.co.uk/news/business-31937637
"People who wish to continue filing an annual paper return will be able to do so."
I hope that includes writers [not that writers aren't people, of course, but it's also a 'business', in a very odd sense of the word].
As an aside: Friday sees a solar eclipse, super-moon, the Vernal Equinox and a new short story by me. So, it'll be an interesting day.
Yes, they will be hunting the archives, but the Tory spinners are facing a small problem.
Dave and Ozzie had a far higher profile, and make a far more understandable target for derision than the obscure stuff they can dig out about the two Ed's.
But then, everyone knows how the Labour election strategy is going to proceed, it has been obvious over the past month or so.
Ironic in a way really, given Dave's attacks on Ed during the parliament?
Another good example Charlie Whelan and Mandleson...Both Labour through and through, but friendly fire doesn't come close to it.
I personally think old fat head does an ok job on balance. He was certainly quite keen on Tony Blair and let that show. He hated Brown, but I doesn't do a bad job these days. He isn't swivel eyed anti-Tory or pro Labour.
What he hates is the professional politician and the spin machine. Maybe again that is due to personal relationships gone bad.
I must say I am terribly surprised that so many people today are distracted by a juvenile dig at a deed of variation that they have missed that their hero Osborne has raided pensions himself.
7 dead inc 2 Brits... I guess the question is how many of the Terrorists were 'British'
Daily Mail Online (@MailOnline)
18/03/2015 14:29
What we know about the Tunisian museum attack dailym.ai/1GWMfWp pic.twitter.com/qrnGbr9iKx
Mr. P, indeed, but that doesn't entail my account information also being known by the state, which appears to be something the Coalition wants.
Anyway, the mandatory aspect was the thing that concerned me most, and that appears to have been addressed.
Black swan ?
Looks like a right to LAY horses to me, but the bookies don't like to do that anyway !
http://bet2015.co.uk/
Osborne 5/10 (good jokes but hubristic, overlooked deficit clearance failure and where the Tories are going to make cuts)
Miliband 3/10 (dreadful rhetoric, lousy jokes, got better when he just dealt with the facts and Tory failings but dishonest in that Labour have to say how they will cover the public sector funding black hole, started fantasising about Tory tax rises and blamed the Tories for the state of the economy in 2010 when its was Labour's fault)
But he has all that history and inside knowledge of what a nasty operation was run by some during Labour's time in governemnt. Hence, he dislike for Brown and his followers. When he did interviews with Brown, there was real hatred there. The Two Eds are Brownites, so I don't think he is a big fan of them either.
Result, quite a grumpy man that doesn't really like either leaders that much = reasonable balance.
Which is fair enough, even if steeped in hypotheticals, but he did it in a way that voters listening, or reading, might imply GO cancelling a £10 a tank hike planned for this year - which isn't the case.
It's on the eclipse theme, as might be expected.
I am flying to Tunisia for my holiday in June
or are you just talking crap again ;-)
FWIW I think the latest change is a mistake, for two reasons. Firstly we need to stop messing around with pensions - it's counter-productive to have something so long-term being fiddled with every year - and secondly because the limit is already extremely unfair to those on defined-contribution schemes, who will now be allowed (on current annuity rates) a maximum pension of only around £30K per year, compared with £50K per year in defined-benefit (i.e. largely public-sector nowadays) schemes. This is on a like-for-like comparison of inflation-linked pensions.
Royal Baby
Coulson perjury trial
Debates in some form or another
Any more ?
GO is talking crap and inventing new measures
dyed-in-the-wool free market capitalist as I am one can't help but admire the (Royal) Hong Kong Jockey Club which funds schools, clinics, community centres, you name it...
"Taxing Scottish Pensioners to reward the next generation of English bankers" was the suggested slogan I believe
If I ran a bookies where people were sent to prison for betting with anyone else, I would bet to 180% and give a bit of the profit away!
But scrub Coulson, who honestly remembers who he was?
There aren't many votes there.
Pensions are seen as a source of tax revenue by Chancellors from both Labour and Conservatives, perhaps because the tax paid is remote from people's day-to-day budgets, and this is a deplorable way for government to behave when it should be looking out for the long-term wealth of the nation. With the annuity freedom proposal one unfortunately suspects that Osborne is keen on it because the Treasury forecasts it will result in a higher tax take.
I'm glad that you at least are able to criticise it, even though others are ignoring it completely.
I am eager to read what the Mirror says about phone hacking...
Posted at 14:55
Now giving his reaction to the Budget, shadow chancellor Ed Balls tells the BBC that George Osborne is "out of touch with reality". He says that people voting in the forthcoming election need to know that they are voting for huge cuts if they vote Conservative. "Nothing in this Budget changed that picture", he says. The cuts will be deeper in the next three years than in the previous five, and people need to know that, he says. He predicts it will be the police, armed forces and NHS who will bear the brunt.
There is the Labour's pitch for government right there.
I wonder if the budget is basically everything that Lib Dem's would sign off...and then we are going to get the Tory "goodies" as stand alone manifesto cough cough promises.
That's all.
The most surprising thing about Eds response today was the lack of criticism of the Governments performance over the past 5 years. Other than the £1600 nonsense he was most focused on the "secret" tory plans for the future.
Where is the extra money going to come from...all together now BANKERS BONUS TAX....
This ignores the effect of the increases in the personal allowance that Osborne has paid for by borrowing money. You might say that the magic money tree has been used to ensure that there hasn't been a decline in living standards.
Improves feel good factor for Personal Pension Planners, ISA Holders, General Investors, etc.
This ignores the effect of the increases in the personal allowance that Osborne has paid for by borrowing money. You might say that the magic money tree has been used to ensure that there hasn't been a decline in living standards.
He should approve. The change in the personal allowance is a flat rate bonus and so disproportionately benefits low earners. The difference between inflation and earning is a percentage figure and in reality falls heaviest on the "stretched middle" (since the well off did well out of asset inflation from QE*).
* remembering that QE was started by G Brown Esq.
The 97 Tory Gov had already lost their economic competence due to the ERM fiasco, and they were very tired, and faced Tony Blair.
Not really much comparison to today.