Easy win for the Chancellor, the income goes to local councils - not his problem. Is he going to compensate Manchester whose Northern Powerhouse deal was built on them keeping local growth in business rates?
Putting public employers pension contributions up is going to be quite a knock to NHS and similar sectors too.
Personally I'd go for the Meekado given the Pooh-Bah approach to dissenters.
I still don't understand how you see the Leave campaign as being empowered to construct an alternative. Because if the campaign was unaminous the remainers would immediately (and correctly) say "But they can't guarantee that will happen - rather than [say] EEA, it could be a disastrous exit with no agreements". If Cameron were to say something like "I promise that we will do our best to negotiate our future outside the EU in line with the agreed views of the Leave campaign" you'd have a fair point. But he hasn't, and won't. At the moment what you're saying is akin to criticising England for not having a settled first XV on the basis that people in the West Stand are arguing about whether Farrell or Tuilagi should be at 12.
It is not in the government's gift to tell opponents how they should wish to oppose its policy.
The referendum will deliver Leave or Remain and a mandate for future action accordingly. If Leave, the meaning of Leave will be discerned primarily from the way in which the Leave camp has conducted its campaign. At present, that's not going to be very informative, to put it mildly.
It is for the Leave camp to construct a prospectus. Remain has done that. It may well be that the Leave prospectus would lack plausibility (certainly Leavers aren't shy about suggesting that about the Remain prospectus) but right now it hasn't even got to the stage of clarity or coherence.
Continuing the logic, how should a responsible government discern its appropriate course of action if there *wasn't* a completely clear prospectus? Also, should a responsible government really use as its primary source of guidance a view put forward by a mishmash of individuals acting in a private capcity, some elected and some unelected (in general terms), but none elected to fulfil that role in the governance of the country? Seems a surprising choice.
A choice would be much better, I agree; but how would that work in reality? Is there a choice around which the Leave side could have coalesced? I'd have thought that several options on the ballot paper would make a Remain vote more likely as Leavers would split along lines we see on here.
There are some Leavers who would bitch about it, certainly, but it seems the only responsible way. You could go for 3 options (status quo (sorry, Cameron's Earth Shattering Renegotiation), apply for EEA, full leave) or have a 2 part question:
Leave vs Remain? And in the event of Leave, would you prefer EEA or "full leave"?
I think the 2-part approach is the fairest, the 3 option ballot is too open to accusations of trying to split the LEave vote.
Easy win for the Chancellor, the income goes to local councils - not his problem. Is he going to compensate Manchester whose Northern Powerhouse deal was built on them keeping local growth in business rates?
Putting public employers pension contributions up is going to be quite a knock to NHS and similar sectors too.
shortfalls should be shared with employer and employee.
Personally I'd go for the Meekado given the Pooh-Bah approach to dissenters.
I still don't understand how you see the Leave campaign as being empowered to construct an alternative. Because if the campaign was unaminous the remainers would immediately (and correctly) say "But they can't guarantee that will happen - rather than [say] EEA, it could be a disastrous exit with no agreements". If Cameron were to say something like "I promise that we will do our best to negotiate our future outside the EU in line with the agreed views of the Leave campaign" you'd have a fair point. But he hasn't, and won't. At the moment what you're saying is akin to criticising England for not having a settled first XV on the basis that people in the West Stand are arguing about whether Farrell or Tuilagi should be at 12.
It is not in the government's gift to tell opponents how they should wish to oppose its policy.
The referendum will deliver Leave or Remain and a mandate for future action accordingly. If Leave, the meaning of Leave will be discerned primarily from the way in which the Leave camp has conducted its campaign. At present, that's not going to be very informative, to put it mildly.
It is for the Leave camp to construct a prospectus. Remain has done that. It may well be that the Leave prospectus would lack plausibility (certainly Leavers aren't shy about suggesting that about the Remain prospectus) but right now it hasn't even got to the stage of clarity or coherence.
Continuing the logic, how should a responsible government discern its appropriate course of action if there *wasn't* a completely clear prospectus? Also, should a responsible government really use as its primary source of guidance a view put forward by a mishmash of individuals acting in a private capcity, some elected and some unelected (in general terms), but none elected to fulfil that role in the governance of the country? Seems a surprising choice.
A choice would be much better, I agree; but how would that work in reality? Is there a choice around which the Leave side could have coalesced? I'd have thought that several options on the ballot paper would make a Remain vote more likely as Leavers would split along lines we see on here.
AV...
"In the event of Britain voting to leave the European Union, would you prefer that Britain was a member of the European Economic Area, like Norway, or had a looser arrangement?
Short of a ban, how else do we wean people off these drinks chock-full of sugar?
Such as fresh orange juice?
Price rises will have to be substantial to put off those already consuming them in quantity, but Osborne gets to look good by giving everyone else's money to sport.
Short of a ban, how else do we wean people off these drinks chock-full of sugar?
There has been no downturn in people drinking the shit even though the price of a bottle has shot up over the past few years e.g. For many years 500ml, it was sub £1, in the past couple of years it has shot up to £1.35+.
Lucy Fisher As revealed ahead of budget, Osborne grants £115m funding to combat homelessness & rough sleeping #budget2016
Is he putting on buses to Eastern Europe?
I wonder how much homelessness is from Eastern Europe. Most of the recent increase SEEMS to be. And there has definitely been an increase of Roma with tissues/notes for money on trains. But I don't want to judge such a controversial matter without evidence.
Lucy Fisher As revealed ahead of budget, Osborne grants £115m funding to combat homelessness & rough sleeping #budget2016
Is he putting on buses to Eastern Europe?
I wonder how much homelessness is from Eastern Europe. Most of the recent increase SEEMS to be. And there has definitely been an increase of Roma with tissues/notes for money on trains. But I don't want to judge such a controversial matter without evidence.
There have been reports that has shown it is, not seems to be, specifically Romania.
40% threshold up to 45k - half a million people removed from 40% tax rate.
Still not the big rabbit expected though, I guess the headline will be the ISA changes and sugar tax - assuming Corbyn doesn't royally screw up his response in the next 20 minutes.
How can East Anglia get an elected mayor?? We are two different counties!! The stout, hard working and thoughtful north folk and the cowardly, foolish girly-boys of the south folk.
Impressive selection of "tax cuts for the rich" rolling out now (lifetime ISA is for those with surplus cash during an age bracket where anyone not already wealthy is desperately trying to afford a house).
Wonder whether entrepreneurs' relief bites the dust as part of CGT changes?
Bloody ell - the ISA limit change is a boon for savers....
Not at the moment. Not many people have a spare £20k a year, the type who do tend not to invest primarily in cash, and the interest rates on ISAs are so low it's barely worth it anyway for the foreseeable...
Bloody ell - the ISA limit change is a boon for savers....
Not at the moment. Not many people have a spare £20k a year, the type who do tend not to invest primarily in cash, and the interest rates on ISAs are so low it's barely worth it anyway for the foreseeable...
When interest rates do rise though....£20k a year is a hell of a lot different than when they were introduced at what £3k a year?
Impressive selection of "tax cuts for the rich" rolling out now (lifetime ISA is for those with surplus cash during an age bracket where anyone not already wealthy is desperately trying to afford a house).
You and I have very different ideas as to who is wealthy or rich.
Another new ISA from the govt - put in £4 and govt gives you £1 for your retirement, to encourage savings for older age #Budget2016
Faisal Islam Osborne likens it to a US 401k, its an extension of Help to Buy ISA - ALso £25k ISA limit -"Budget for savers" he says
This is the beginning of a shift from traditional pensions (tax-free on way in, taxed on way out) to the reverse, ie what Alastair Meeks was talking about in his thread header in January. But, as I pointed out then, such a transition will take decades. This is the first move in that transition.
Well, that was interesting. Just waiting for the docs to appear but on the face of it I can't yet work out where the money comes from. Reasonably significant cuts in income tax for anyone <£100k (and possibly above, depends on how the >£100k band adjustments work) with no corresponding pick up on higher earners. CGT cut. Free money for rich people with ISAs. Corporation tax cut, duties frozen.
I can't immediately see a sugar tax and interest deductibility restrictions covering the cost of those measures. What am I missing?
In the meantime, looking like mortgaging up and cycling 40kpa through ISAs is a good way of getting lots of presents from that nice Mr Osborne...
Another new ISA from the govt - put in £4 and govt gives you £1 for your retirement, to encourage savings for older age #Budget2016
Faisal Islam Osborne likens it to a US 401k, its an extension of Help to Buy ISA - ALso £25k ISA limit -"Budget for savers" he says
This is the beginning of a shift from traditional pensions (tax-free on way in, taxed on way out) to the reverse, ie what Alastair Meeks was talking about in his thread header in January. But, as I pointed out then, such a transition will take decades. This is the first move in that transition.
It does seem to be. I will need to look at the details.
Corbyn wasn't listening to the Budget. He is just rambling with his pre-prepared lines. He won't be reassuring any of his backbenchers with this 'performance'
Well, that was interesting. Just waiting for the docs to appear but on the face of it I can't yet work out where the money comes from. Reasonably significant cuts in income tax for anyone <£100k (and possibly above, depends on how the >£100k band adjustments work) with no corresponding pick up on higher earners. CGT cut. Free money for rich people with ISAs. Corporation tax cut, duties frozen.
I can't immediately see a sugar tax and interest deductibility restrictions covering the cost of those measures. What am I missing?
In the meantime, looking like mortgaging up and cycling 40kpa through ISAs is a good way of getting lots of presents from that nice Mr Osborne...
I'm scratching my head too....
I missed the 'interest deductibility restrictions' announcement.
Impressive selection of "tax cuts for the rich" rolling out now (lifetime ISA is for those with surplus cash during an age bracket where anyone not already wealthy is desperately trying to afford a house).
You and I have very different ideas as to who is wealthy or rich.
I think those who have 20k+ spare cash a year, and those who are paying material amounts of CGT, can reasonably be defined as rich. Other definitions are available - where would you place "rich"?
Presumably the changes in income tax thresholds from 2017 mean that the Government will profit from creeping increases in the current year.
The Guardian said in passing "Headline rate of capital gains tax cut from 28% to 20%." but I can't see that in the BBC budget summary. Seems a big announcement - is that right, and from when?
Otherwise all a bit meh, perhaps inevitably in the current climate.
The Guardian said in passing "Headline rate of capital gains tax cut from 28% to 20%." but I can't see that in the BBC budget summary. Seems a big announcement - is that right, and from when?
That is correct - was heard in silence so not sure if it sank in to the listeners - some exclusions for which it remains at 28% (I think property). Takes effect from this April.
Bloody ell - the ISA limit change is a boon for savers....
Not at the moment. Not many people have a spare £20k a year, the type who do tend not to invest primarily in cash, and the interest rates on ISAs are so low it's barely worth it anyway for the foreseeable...
That's my view.
ISAs are (for the moment) a far less attractive option for me than pensions.
I stick about £400 a month into a cash ISA but that's for building up a fund to move up the property ladder.
I missed the 'interest deductibility restrictions' announcement.
Was this for corps?
Surely that would raise a huge amount if so....
Yeah debt cap for CT deductions at 30% of interest charged. I think the figure of £9bn raised was announced though not clear how much of that is left after CT hits 17%. Just looking through the docs now to see what the stated +/- will be.
Presumably the changes in income tax thresholds from 2017 mean that the Government will profit from creeping increases in the current year.
The Guardian said in passing "Headline rate of capital gains tax cut from 28% to 20%." but I can't see that in the BBC budget summary. Seems a big announcement - is that right, and from when?
Otherwise all a bit meh, perhaps inevitably in the current climate.
Yes, from April this year, except for residential property. Lower rate also cut from 18% to 10%.
Well, that was interesting. Just waiting for the docs to appear but on the face of it I can't yet work out where the money comes from. Reasonably significant cuts in income tax for anyone <£100k (and possibly above, depends on how the >£100k band adjustments work) with no corresponding pick up on higher earners. CGT cut. Free money for rich people with ISAs. Corporation tax cut, duties frozen.
I can't immediately see a sugar tax and interest deductibility restrictions covering the cost of those measures. What am I missing?
"He said this crackdown on large firms would bring in £9 billion of extra tax revenue."
Another new ISA from the govt - put in £4 and govt gives you £1 for your retirement, to encourage savings for older age #Budget2016
Faisal Islam Osborne likens it to a US 401k, its an extension of Help to Buy ISA - ALso £25k ISA limit -"Budget for savers" he says
This is the beginning of a shift from traditional pensions (tax-free on way in, taxed on way out) to the reverse, ie what Alastair Meeks was talking about in his thread header in January. But, as I pointed out then, such a transition will take decades. This is the first move in that transition.
100% agree. Wait to see what other changes will come in before the end of this parliament
Comments
How employee numbers have changed in the north since 2009 https://t.co/NjR8u4c3vw #Budget2016
Rise in insurance premium from 9.5% to 10% more modest than the 12.5% industry feared: all earmarked for £700m of new flood defences.
Leave vs Remain?
And in the event of Leave, would you prefer EEA or "full leave"?
I think the 2-part approach is the fairest, the 3 option ballot is too open to accusations of trying to split the LEave vote.
Fair national funding formula can only help around here - Poole is massively underfunded compared to elsewhere.
Massive land grab.
Ain't gonna happen is it.
Edit: to be fair, the academy change will likely save the treasury money as the national bargaining for pay/conditions would presumably go.
Personally, I think it's low enough, and he should focus on lightening the tax burden on individual earners instead.
[ ] EEA
[ ] Looser arrangement"
All a bit too good to be true
A stupid socialist idea.
Price rises will have to be substantial to put off those already consuming them in quantity, but Osborne gets to look good by giving everyone else's money to sport.
Despite the fact that I've told him several times that it is a tax cut for those earning less than £8k....
Abolishing Class 2 makes sense, but watch for the self employed to fall into the same class 4 rate rather than the reduced one too.
A proper funny!
Interested to see how this works with frappuccini tho
'This drink is almost as sugary pound for pound as Coke, and it contains more calories than a can of Coke!'
http://www.dailymail.co.uk/health/article-2301135/15-WORST-health-drinks-Orange-juice-Innocent-smoothies-sugar-13-Hobnobs-3-half-doughnuts.html
https://www.betfair.com/exchange/plus/#/politics/market/1.107373419
And hit the private pensions industry, surely?
Hides under duvet..!
Another new ISA from the govt - put in £4 and govt gives you £1 for your retirement, to encourage savings for older age #Budget2016
Faisal Islam
Osborne likens it to a US 401k, its an extension of Help to Buy ISA - ALso £25k ISA limit -"Budget for savers" he says
And changing the threshold helps the medium earners Ltd company directors too,...
Still not the big rabbit expected though, I guess the headline will be the ISA changes and sugar tax - assuming Corbyn doesn't royally screw up his response in the next 20 minutes.
Faisal Islam
Tax free allowance from April 2017 will be £11500... Higher rate will be 45k: tax cut of £400, half a mill out of higher rate
Wonder whether entrepreneurs' relief bites the dust as part of CGT changes?
I can't immediately see a sugar tax and interest deductibility restrictions covering the cost of those measures. What am I missing?
In the meantime, looking like mortgaging up and cycling 40kpa through ISAs is a good way of getting lots of presents from that nice Mr Osborne...
I missed the 'interest deductibility restrictions' announcement.
Was this for corps?
Surely that would raise a huge amount if so....
The Guardian said in passing "Headline rate of capital gains tax cut from 28% to 20%." but I can't see that in the BBC budget summary. Seems a big announcement - is that right, and from when?
Otherwise all a bit meh, perhaps inevitably in the current climate.
https://www.gov.uk/government/collections/budget-2016-tax-related-documents
Was he actually listening?
ISAs are (for the moment) a far less attractive option for me than pensions.
I stick about £400 a month into a cash ISA but that's for building up a fund to move up the property ladder.
Howe, Lawson and Clarke: simplifiers
Lamont, Brown and Osborne: complicators
http://citywire.co.uk/new-model-adviser/news/budget-2016-corporation-tax-cut-to-17/a891806