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November Budget

cabbles
cabbles Posts: 15,254
in Not Sports Related
Just putting this here so it doesn't encroach on all the arguments on the Brexit thread. If anyone wants to talk about it feel free
«134

Comments

  • McBobbin
    McBobbin Posts: 12,051
    Growth cup from 2% to 1.5%. Not sure if that was already expected. Doesn't sound great
  • DaveMehmet
    DaveMehmet Posts: 21,594
    McBobbin said:

    Growth cup from 2% to 1.5%. Not sure if that was already expected. Doesn't sound great

    As long as they don't mess with the furry cup.
  • Covered_End_Lad
    Covered_End_Lad Posts: 5,725
    Scrapped 1st time buyer stamp duty 2 months after i buy my first place. Good idea, shit timing.
  • se9addick
    se9addick Posts: 32,034
    Selling my current flat in the new year which is ideal for a FTB so the stamp duty announcement is good news for me as it should encourage some more buyers into the market.

    Concerned about the growth predictions though.
  • kentaddick
    kentaddick Posts: 18,729
    Thank fuck they dropped the vat threshold drop, absolutely ridiculous thing to do when the likes of Facebook still don’t pay tax
  • golfaddick
    golfaddick Posts: 33,623
    Very bland an a non-budget to me. No changes to any real taxes (income tax rates, IHT, pension etc) and the ones he did (personal allowance & higher rate thresholds) were in line with inflation & as per previous announcements. Headlines will be for Stamp duty abolished for FTB but for the man in the street no real change.

    Unless I missed something (or he turned 2 pages over at once ala Mugabe) there was no changes to pensions (tax relief, Lifetime & Annual allowance) which was one of the expected ways he was going to raise money.
  • killerandflash
    killerandflash Posts: 69,842
    edited November 2017
    kentaddick said:

    Thank fuck they dropped the vat threshold drop, absolutely ridiculous thing to do when the likes of Facebook still don’t pay tax

    golfaddick said:

    Very bland an a non-budget to me. No changes to any real taxes (income tax rates, IHT, pension etc) and the ones he did (personal allowance & higher rate thresholds) were in line with inflation & as per previous announcements. Headlines will be for Stamp duty abolished for FTB but for the man in the street no real change.

    Unless I missed something (or he turned 2 pages over at once ala Mugabe) there was no changes to pensions (tax relief, Lifetime & Annual allowance) which was one of the expected ways he was going to raise money.

    I assume both were the classic tactics of "putting rumours about really unpopular changes out" so that when they don't happen everyone is happy with the lack of content in the budget!
  • RedArmySE7
    RedArmySE7 Posts: 5,407
    Bit of a nothing affair to be honest wasn't it.
  • Rothko
    Rothko Posts: 18,801
  • se9addick
    se9addick Posts: 32,034
    Does the stamp duty change take effect immediately ?
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  • Pedro45
    Pedro45 Posts: 5,820
    edited November 2017
    se9addick said:

    Does the stamp duty change take effect immediately ?

    Yes, it is immediate, just read...
  • se9addick
    se9addick Posts: 32,034
    Pedro45 said:

    se9addick said:

    Does the stamp duty change take effect immediately ?

    Most of this is due to come in next April I believe...
    That's what I thought but on further research since I asked the question it looks like this change actually applies from today!
  • nth_london_addick
    nth_london_addick Posts: 35,919
    Help for businesses that are trying to scale up could hold great news for small business owners well worth investigating that part alone
  • nth_london_addick
    nth_london_addick Posts: 35,919
    i used to hate the budget when all i cared about was fags and booze
  • IdleHans
    IdleHans Posts: 10,961
    Abolishing SD for first time buyers will do nothing to help. It's a headline grabber for the unanalytical.
    The only thing that will address the housing shortage is more houses. This move will just push up prices.
    I regard the help for first time buyer scheme with similar disdain after my brother in law made a bundle on his marital home, got divorced and sold it, then reentered the housing market as a first time buyer with a huge deposit and a shoe box full of cash from undeclared earnings from the previous several years. And then got a govt subsidy in his new 4 bedroom detached house in Devon. I wouldn't mind so much, but he's an arsehole to boot.

    But with hundreds of thousands of EU migrants supposedly moving back home or elsewhere, won't that free up some existing accommodation? I don't know what the impact of that would be on the housing/rental markets but you'd assume, surely, that it would reduce demand considerably and partially relieve the pressure on the cheaper end of the housing market.
  • Beardface
    Beardface Posts: 1,128
    se9addick said:

    Does the stamp duty change take effect immediately ?

    It's imminent....
  • bobmunro
    bobmunro Posts: 20,842
    Beardface said:

    se9addick said:

    Does the stamp duty change take effect immediately ?

    It's imminent....
    Don't think so. Have you asked DOUCHER's view - my guess is he would say next summer at the earliest.
  • cantersaddick
    cantersaddick Posts: 16,911
    He didn't do the excepted are students over even more for an additional 20 years so that's a winner...
  • se9addick
    se9addick Posts: 32,034
    cantersaddick said:

    He didn't do the excepted are students over even more for an additional 20 years so that's a winner...

    Huh ?
  • golfaddick
    golfaddick Posts: 33,623
    cantersaddick said:

    He didn't do the excepted are students over even more for an additional 20 years so that's a winner...

    liquid lunch ??
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  • razil
    razil Posts: 15,041
    wonder what growth would be if they cancelled Brexit..

    (see what I did there?)
  • kentaddick
    kentaddick Posts: 18,729
    Yup, the stamp duty thing is more of an attempt to give life support to a market that’s in danger of bursting whilst looking like you’re helping the young. Once the housing market goes it’ll send us into another pretty deep recession.
  • Covered_End_Lad
    Covered_End_Lad Posts: 5,725
    razil said:

    wonder what growth would be if they cancelled Brexit..

    (see what I did there?)

    Well i would certainly get about an extra 4 inches
  • palarsehater
    palarsehater Posts: 12,296
    key points for anyone interested.

    http://www.bbc.co.uk/news/uk-politics-42056452

  • MrOneLung
    MrOneLung Posts: 26,846
    cantersaddick said:

    He didn't do the excepted are students over even more for an additional 20 years so that's a winner...

    9 grand a year for that !!!
  • cantersaddick
    cantersaddick Posts: 16,911
    se9addick said:

    cantersaddick said:

    He didn't do the excepted are students over even more for an additional 20 years so that's a winner...

    Huh ?
    golfaddick said:

    cantersaddick said:

    He didn't do the excepted are students over even more for an additional 20 years so that's a winner...

    liquid lunch ??
    I meant to say screw students over for an additional 20 years.

    It was widely rumoured that the repayment period for posts 2012 system of graduate tax, sorry student loans was to be extended from 30 years to 50.

    I know this was internally costed by DFE. Im bloody glad they didn't do it.
  • Brendan_O_Connell
    Brendan_O_Connell Posts: 8,938
    cantersaddick said:

    se9addick said:

    cantersaddick said:

    He didn't do the excepted are students over even more for an additional 20 years so that's a winner...

    Huh ?
    golfaddick said:

    cantersaddick said:

    He didn't do the excepted are students over even more for an additional 20 years so that's a winner...

    liquid lunch ??
    I meant to say screw students over for an additional 20 years.

    It was widely rumoured that the repayment period for posts 2012 system of graduate tax, sorry student loans was to be extended from 30 years to 50.

    I know this was internally costed by DFE. Im bloody glad they didn't do it.
    Bloody students, sitting around all day watching Blockbusters and eating pot noodles.
  • Cordoban Addick
    Cordoban Addick Posts: 5,448
    Thank goodness they have addressed the time bomb of Social care.
  • Cordoban Addick
    Cordoban Addick Posts: 5,448
    Good news for those aged 25 - 30, an extension of the young persons railcard will help with student loans and high rents whilst being good for the environment.

    That's Labour's support from this demographic about to collapse.
  • kentred2
    kentred2 Posts: 2,335
    Years of austerity for tax cuts for their billionaire funders and kin and growth collapses. Who'd a thought it!

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