politicalbetting.com » Blog Archive » The last budget of the 2010-2015 parliament
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Class 2 NI contributions scrapped - I guess this means some of the benefit/pension rules have to be re-written. Would like some explanation of how you get rid of the annual tax return.0
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Yup, budgets that get cheered on the day usually are the worst.Alanbrooke said:
Not in the least TSE, the budget has still to pass the falling apart in 24 hours test.TheScreamingEagles said:
It's says so much about the quality at the top of the Tory party, that Ozzy wasn't in top 3 or 4 to be next leader.Alanbrooke said:
you change your mind faster than you change your shoesTheScreamingEagles said:I've changed my mind, George Osborne will be the next Tory leader
Apologies if this post has given you apoplexy.
Everything comes to him who waits :-)0 -
Rise of 40% rate above inflation.
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I totally agree -it's a blinder. Funny, full of great stats and popular stuff.
Budgets rarely really shift votes on polling day - I think this may.Big_G_NorthWales said:I cant think of a more brilliant and political budget speech. Amazing
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Me too...OblitusSumMe said:Would like some explanation of how you get rid of the annual tax return.
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Still awaiting ICM data tables, but the part-ELBOW for polls so far this week excluding ICM puts Labour 0.8% ahead, compared with "0.0% growth" for week-ending 15th March!Scott_P said:@PaulBrandITV: Labour look genuinely miserable. Arms crossed. Stoney-faced. Chancellor has left them glum. 'Cheer up Labour' shout Tories #Budget2015
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Labour can use that to get the £20-£40kers vote ;pDaemonBarber said:£10,800 this year then £11,000 next: personal allowance
Higher Rate threshold rises above inflation0 -
Even I don't think GO could be that useless given the timing of this budget.TheScreamingEagles said:
Yup, budgets that get cheered on the day usually are the worst.Alanbrooke said:
Not in the least TSE, the budget has still to pass the falling apart in 24 hours test.TheScreamingEagles said:
It's says so much about the quality at the top of the Tory party, that Ozzy wasn't in top 3 or 4 to be next leader.Alanbrooke said:
you change your mind faster than you change your shoesTheScreamingEagles said:I've changed my mind, George Osborne will be the next Tory leader
Apologies if this post has given you apoplexy.
Everything comes to him who waits :-)0 -
flexible ISA good news
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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.MaxPB said:The look on Vince's face with the £10 with the Tories comment.
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This is loooooong...0
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I know he is a cute dog, but that seems a stretch!! :-)Pulpstar said:
I'm telling you now, the election will be decided by Pudsey.TheScreamingEagles said:YORKSHIRE!
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55 minute sellers won't be happy !0
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Help to buy ISA - interesting.
Personal savings allowance!0 -
Tax on savings cut! Wonderful news.0
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Help to buy ISA sounds like a gimmicky rabbit.0
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@gabyhinsliff: This is now the giveaway-iest 'no giveaways' budget I can ever remember0
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All recessions destroy value in the economy. Then the economy recovers, usually quite quite quickly.Flightpath said:
Try again.bigjohnowls 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
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.
This one is the exception. Osborne is the exception.0 -
Retirement beckons for Vince....TOPPING said:
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.MaxPB said:The look on Vince's face with the £10 with the Tories comment.
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I made that 57 mins long0
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The flexible ISA idea looks rather like a neat extra tax relief for the rich (and an opportunity to make a little bit of money on a 3 day loan). Surely you just invest up to your full allowance on 4 Apr in year 1, and take it out on 6 Apr, next year put in the same amount plus an additional year's allowance on 4 Apr in year 2... and so on. So basically those with access to liquidity can build up an age-related ISA allowance ready for the day that they have money to invest.0
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Election winning budget? Hmmmm...... Not sure.0
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given interest rates, that must cost the Treasury all of £2.50 next year.MaxPB said:Tax on savings cut! Wonderful news.
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He's very talented though.
Pudsey = https://www.youtube.com/watch?v=sCcSDZ_ando - and he has his own movie deal... cripes!Floater said:
I know he is a cute dog, but that seems a stretch!! :-)Pulpstar said:
I'm telling you now, the election will be decided by Pudsey.TheScreamingEagles said:YORKSHIRE!
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Help to buy ISA - basically it is tax relief on saving for a deposit on your home.0
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Why does the BBC get the Welsh windbag on for special events rather than the far more capable Andrew Neil?0
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Are you talking to you wife ?TheScreamingEagles said:I made that 57 mins long
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How many times did he say "Tax" thoughTheScreamingEagles said:I made that 57 mins long
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Got to keep that housing bubble inflated.0
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Indeed. It will be a very welcome policy and encourage saving, but cost basically nothing to implement.Alanbrooke said:
given interest rates, that must cost the Treasury all of £2.50 next year.MaxPB said:Tax on savings cut! Wonderful news.
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Is that budget going to change many votes? I can't see anything mega.
All the ISA stuff and reduction on tax on saving etc is very nice, but I can't see that many people going well I was going to vote Labour, but have to vote Tory now because of it.
I guess the idea from the Tories is to present Tories as safe pair of hands, don't risk the recovery with Labour....but I don't know, if you were going to vote Labour given Brown's management of economy 2000-2010 (with Miliband and Balls assistance), you don't know much about it and/or care about how they ran the economy.0 -
I couldn't keep count.Pulpstar said:
How many times did he say "Tax" thoughTheScreamingEagles said:I made that 57 mins long
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Here's Angry Ed.0
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No rabbit.MarqueeMark said:Election winning budget? Hmmmm...... Not sure.
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Not sure that is going to have the impact the Tories were hoping for.0
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There were certainly a lot of "million" mentions.Pulpstar said:
How many times did he say "Tax" thoughTheScreamingEagles said:I made that 57 mins long
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Shit creek or just couldn't keep count 90something ?TheScreamingEagles said:
I couldn't keep count.Pulpstar said:
How many times did he say "Tax" thoughTheScreamingEagles said:I made that 57 mins long
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God, that was dull.
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Ed refusing to believe the ONS.
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Is more I forgot, I was too busy laughing at the jokes.Pulpstar said:
Shit creek or just couldn't keep count 90something ?TheScreamingEagles said:
I couldn't keep count.Pulpstar said:
How many times did he say "Tax" thoughTheScreamingEagles said:I made that 57 mins long
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He is the go-to leftie.MaxPB said:Why does the BBC get the Welsh windbag on for special events rather than the far more capable Andrew Neil?
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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....0 -
I agree .... just a tad dull.MarqueeMark said:Election winning budget? Hmmmm...... Not sure.
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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.
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Sam Coates of the times makes the budget 58 mins and 58 secs long0
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I think he means that there will be a website with input from different sources which you can update any time you want, rather than once a year.DaemonBarber said:
Me too...OblitusSumMe said:Would like some explanation of how you get rid of the annual tax return.
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.
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Wow the government really is desperate to keep house prices unaffordable aren't they?
Astonishing news about giving people money to pay for a deposit. Terrible, terrible idea.0 -
Brilliant - EdM now arguing for less taxes
(edit: fewer taxes?)0 -
Relying on steady-as-she-goes.....TGOHF said:
No rabbit.MarqueeMark said:Election winning budget? Hmmmm...... Not sure.
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I think a rabbit would have killed the 'sensible / long term plan' narrative. We got a series of sensible, popular measures but nothing gimmicky. I like.TGOHF said:
No rabbit.MarqueeMark said:Election winning budget? Hmmmm...... Not sure.
(...and Ozzy has some great digs at Ed...which is always worth a laugh...)0 -
The Labour leader says it's astonishing that the hour-long Budget statement didn't include a mention of the NHS or other vital public services.0
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I find these a bit silly. It just pushes up prices and the deposit needed. More homes is what's needed.weejonnie said:Help to buy ISA - basically it is tax relief on saving for a deposit on your home.
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"in spite of the numbers given by the Chancellor..."MarqueeMark 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....
LOL0 -
"The tax the tories love to raise?!"
Has the world gone mad?0 -
Radio 4 have cut Miliband off after 2 minutes.0
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"Bullingdon and Trust Funds"0
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LOL! but Graphic image!
twitter.com/Grabcocque/status/5781875314617630720 -
The official statistics of the nation. Either Labour accept them or they don't. If they don't then it makes them look petty because it is telling a story the don't want to hear.BenM said:
"in spite of the numbers given by the Chancellor..."MarqueeMark 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....
LOL0 -
Again No sound, but Ed Miliband seems better at these responses than Balls.0
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No, it will just be that is what he had prepared on his crib sheet and as we have seen Ed doesn't do thinking on his feet very well. He has done this things loads of times at PMQ's, he has something prepped and then can't adjust.MarqueeMark 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....0 -
It was a very straightforward budget.NickPalmer said:
I think he means that there will be a website with input from different sources which you can update any time you want, rather than once a year.DaemonBarber said:
Me too...OblitusSumMe said:Would like some explanation of how you get rid of the annual tax return.
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.
On the annual return point, it is easier to imagine for small businesses that have live, documented accounts. From what the Chancellor said I imagine these can be ported to your tax.0 -
http://cdn.budgetresponsibility.independent.gov.uk/March2015EFO_18-03-webv1.pdf
Detail available here.0 -
Official ONS figures show people are worse off.
GO invents a different measure.
Couldn't make it up.0 -
From where I'm sitting absolutely nothing to either prevent the impending Lib-Dem wipeout or move the polls towards the Tories...
Summary: Worthy But Pointless?0 -
Miliband has a decent "out of step with ordinary families" line, but beyond that he is faltering (other than repeating it). Some mention of VAT, which wasn't mentioned in the budget...0
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Full text here (might not exactly match what he said, but should be very close indeed):
https://www.gov.uk/government/speeches/chancellor-george-osbornes-budget-2015-speech
'Tax' 84
'Million' 29
'Billion' 290 -
Supposing I just sold my house that I owned in my sole name, and have something like £50k after paying the mortgage. Now imagine that my wife, who I married after I bought the house, has never owned a home. Will Osborne give her £12.5k for saving £50k towards her first home? Entirely hypothetical, like.weejonnie said:Help to buy ISA - basically it is tax relief on saving for a deposit on your home.
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I think the house deposit ISA is interesting....(for one of my kids). Want to see the deets on that one.0
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I wonder where Labour have got this idea Tories want to ramp up VAT even further...somebody leaking or just scaremongering. It seems to have come out of nowhere today, rather than the CUTTTSSSSSSSSSSSSSSSSSSSSS attack.0
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Oh I agree - or reduce the rate that people are coming into the UK. But neither George nor Ed will look at it that way.Casino_Royale said:
I find these a bit silly. It just pushes up prices and the deposit needed. More homes is what's needed.weejonnie said:Help to buy ISA - basically it is tax relief on saving for a deposit on your home.
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I have no idea if it's any good or not, but Miliband doesn't go redder than a beetrootTOPPING said:
You think? I was rather hoping for some coherent response from EdB, actually.Pulpstar said:Again No sound, but Ed Miliband seems better at these responses than Balls.
This is rambling and, importantly, has no narrative. It's all over the shop.
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Many of my friends are bankers and they work longer hours than anyone I know.Alanbrooke said:
Bankers think George is great, no surprise, they don't actually work for a living.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
But when Richard Nabavi says Osborne is a failure, then you know the Tories are struggling0 -
I loved the 'dead fish eyes' of the retired dirty cop in Breaking Bad - Mike? He's in Better Call Saul now and very good. After a verrrrrrrry slow start that spin-off is into its stride a la Breaking Bad quality.Flightpath said:0
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Excellent response from Ed.
Tory backbenchers complete disrespect0 -
Not sure Ed is waving here. Now quoting a Labour councillor.TheWatcher said:Radio 4 have cut Miliband off after 2 minutes.
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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?0 -
Or more precisely, he used the internationally recognised measure as recommended by the OECD, but you version sounded more fun.bigjohnowls said:Official ONS figures show people are worse off.
GO invents a different measure.
Couldn't make it up.0 -
The sooner Lindsay Hoyle takes over from Bercow the better, btw.0
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Turnip ! Ching !
Oh Turpin.0 -
+£10.90 profit for me, +£48 for youRichard_Nabavi said:Full text here (might not exactly match what he said, but should be very close indeed):
https://www.gov.uk/government/speeches/chancellor-george-osbornes-budget-2015-speech
'Tax' 84
'Million' 29
'Billion' 29
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Indeed. Where did he get the 5% rise in GDP per Capita stat? No official source.bigjohnowls said:Official ONS figures show people are worse off.
GO invents a different measure.
Couldn't make it up.
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.0 -
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There must be a handful of people who receive more than £1,000 in savings income but do not already submit a tax return.Bob__Sykes said: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?0 -
Terrorist Attack.....
At least seven foreign tourists and a Tunisian have been killed after gunmen targeted a museum in the Tunisian capital, officials say.
http://www.bbc.co.uk/news/world-africa-319416720 -
Either the Lib Dems vetoed a lot of stuff, or the Tories decided to keep their powder dry. Maybe they wanted to create wiggle room for purely party political annoucements once parliament dissolves, and to put in their manifesto.MaxPB said:
Steady as she goes. I think it will entrench the current expectations of Con most seats but not win them the election.BenM said:Not sure that is going to have the impact the Tories were hoping for.
Probably a bit of both.0 -
That's what I was thinking....Casino_Royale said:
Either the Lib Dems vetoed a lot of stuff, or the Tories decided to keep their powder dry. Maybe they wanted to create wiggle room for purely party political annoucements once parliament dissolves, and to put in their manifesto.MaxPB said:
Steady as she goes. I think it will entrench the current expectations of Con most seats but not win them the election.BenM said:Not sure that is going to have the impact the Tories were hoping for.
Probably a bit of both.0 -
Yeah, it's odd isn't it ? It's not even like they've done it before or anything.FrancisUrquhart said:I wonder where Labour have got this idea Tories want to ramp up VAT even further...somebody leaking or just scaremongering. It seems to have come out of nowhere today, rather than the CUTTTSSSSSSSSSSSSSSSSSSSSS attack.
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BenM:BenM said:
All recessions destroy value in the economy. Then the economy recovers, usually quite quite quickly.Flightpath said:
Try again.bigjohnowls 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
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.
This one is the exception. Osborne is the exception.
Please go away and research into the difference between a cyclical recession (caused by over-investment) and one caused by a gumming up of the financial system.
And then come back and explain to us why this time it's different.0 -
That could have been a "game changer" and would have made sense!Bob__Sykes said:
Why not scrap all tax on savings?
Maybe the Lib-Dems blocked it!
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EdM really needs a voice coach - he sounds either desperate, 16yrs old or shouty door-slamming.
It's his most unattractive feature. It's all projected from the back of his throat, not his diaphragm. After all this time, one would think he'd have fixed this habit.0 -
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.0
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