Budget

gmcrepair

BSOD
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So the UK budget was read out this past hour, things the government are doing:
  • VAT rising to 20%
  • Capital gains tax going up to 28%
  • Frozen child benefits for 3 years
  • Extra thousand pounds you get to keep each year
  • 880,000 people excluded from tax altogether
  • No increase on duty on tobacco alcohol and cider
  • Public sector pay frozen for at least a year
  • The Queen will not get a pay rise
Your thoughts?
 
VAT going up to 20% is not the best idea IMO
And might be yet another point of weakness in the coalition .

I think its great, they are rewarding those who actually go to work with the extra 1K tax free

but then your going to end up contributing some of your money anyway if you decide to spend that 1k because vat has gone up

I don't know why Labour are complaining, but they always do.
It is a good tough budget we needed.

Labour are as you put it "complaining" because as her majestys loayal opposition its currently their job to pick holes in the governments plans .
Just as whenn Labour where in power it was the job of the conservatives to pick holes in government plans
 
what I have to say about the budget...

if anyone didn't see it coming then you're pretty stupid. it was obvious that endless borrowing to live some kind of high life couldn't go on.

as for the people who I saw on the news last night, (people who looked like they were around the age of 50 - 60). I say this to them...

quit your bitching. you deserve to pay for the excesses that you've enjoyed.

I'm not saying that borrowing money is bad full stop, what I'm saying is that those are the the very people who benefited the most. they saw their house prices rise on the artificial bubble, their wages go up, their healthcare services improve, and it's all gone beyond the means of the country.

when I see someone who looks so close to retiring say that they think that the budget is unfair, because it's making them pay, it makes me angry.

I've lived through this bubble of artificial wealth, and I know that I've benefited. so I know that I'm going to need to tighten my belt now as the whole country needs to get back on track.

that's just how it is...
 
What's the VAT?

Sales tax

but then your going to end up contributing some of your money anyway if you decide to spend that 1k because vat has gone up

For example If I choose to pay the extra off my mortgage then I will not be paying the extra VAT but still benefiting from the tax break. There are plenty of things I can do with it before paying the extra VAT rate
 
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