What a Brilliant and 'Fair' Budget

[tobyjugg2]

No, it won't be back to only wealthy families, (it never has been anyway). Employers don't have to pay, the student gets a loan as laid down.

 

Your history is faulty.

Lets expand on your concept there.

 

Do you think you should get a loan if you had no income, but they hoped you would some time in the future?

Do you think that would be responsible lending or the basis for a reasonable system if wonga did that?

[determindator]

Did they say £9 in 2020? That's five years away! Convenient, they may not be in power to implement the 'pledge'.

[obiter dictum]

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[determindator]

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Thank you for that CWK. Do you think they're getting the water cannons ready as we speak!

 

New business venture Wet Suits:-D

[snowdragon]

I myself think it was fair as where else was the Government supposed to get the money from? fresh air? I do not get benefits ( not entitled to anything ) If employers paid a decent wage then we would not need WTC surely? I know not all companies can not do this.

 

I could go on and say I fund-raise for The Lullaby Trust ( cot death charity ) and they get no Government help at all same as GOSH, but GB is in a mess thanks to previous parties and it is going to take a long time if ever that it will be good again, no matter what Government is in

[citizenB]

Wages were kept artificially low with the introduction of WTC, the same way that rents were kept artificially high with the introduction of housing benefit !

[unclebulgaria67]

Wages were kept artificially low with the introduction of WTC, the same way that rents were kept artificially high with the introduction of housing benefit !

 

Rents are high because of lack of housing stock. If they built say 3 million new homes, with many available to rent cheaply through councils, you would see private rents reduce.

[snowdragon]

I am in a HA House and my rent is £110 week, get no help with it and I live in Derbyshire but have a Nottinghamshire post code x

[snowdragon]

https://uk.news.yahoo.com/labour-accepts-tory-cuts-130309613.html#Hvglf1k

 

 

Even Labour agree!

[stu007]

Benefits

 

1. £12bn of welfare saving will be found with spending focused on the elderly and disabled.

 

2. Disability benefit will not be taxed or means tested.

 

3. Those aged 18-21 must "earn or learn" and will lose their automatic entitlement to Housing Benefit.

 

4. From 2017 all working parents of 3 and 4 year olds must work if they want universal benefit but also get 30 hours of free childcare each week up from 15 hours.

 

Welfare Reform

 

1. The cap on benefits will be cut from £26,000 to £23,000 in London and £20,000 in the rest of the UK.

 

2. Those on higher incomes in social housing will have to pay the market rate for their homes. That applies to those earning above £40,000 in London and £30,000 elsewhere in the UK.

 

3. Working-age benefits will be frozen for four years including Tax Credits and Housing Benefit. Maternity payments will be excluded from the freeze.

 

4. Rent payments for social housing will be cut by 1% per year for each of the next 4 years.

 

5. Working benefits will be stripped from those who are not disabled and have no children and will be withdrawn at a faster pace as a claimants earning rise.

 

Child Benefit

 

1. Tax Credit and Universal Credit support to be limited to first 2 children from April 2017.

 

2. Housing Benefit will also be affected by removing family premium for new children from April 2016.

 

3. Multiple births like triplets will be excluded from the limit.

 

Housing

 

1. Buy to Let Landlords will get less tax relief on their Mortgage interest payments.

 

2. Home Owners with Lodgers will be able to earn £7,500 Tax-Free from their house-guest each year.

 

3. From 2017 there will be an extra £175,000 inheritance tax allowance for those who leave their homes to their children or grandchildren on top of the £325,000 standard inheritance tax allowance currently. The relief is tapered away for those with estates of more than £2m

 

Pensions

 

1. Those earning more than £150,000 will have their tax-free contributions allowance tapered away from its current £40,000 per year to a minimum of £10,000.

 

2. Dividend tax credit will be replaced by a new £5,000 tax-free dividend allowance.

 

3. Dividend tax rates are going up from zero to 7.5% for basic rate income taxpayers, from 25% to 32.5% for higher rate taxpayers and from 30.56% to 38.1% for additional rate payers.

 

Corporation Tax

 

1. Corporation Tax will be cut to 19% in 2017 and then 18% from 2020.

 

2. Small Firms National INsurance Contributions will fall with a £3,000 employment allowance

 

3. The annual investment allowance which was a temporary tax break for firms will be set at £200,000 permanently January 2016.

 

Non-Doms

 

1. Non-dom tax status will be abolished for those who have been in the UK for more than 15 of the last 20 years.

 

2. Individuals who live in the UK and were born to a UK-domicilied parents will also be ineligible for the status.

 

Cars

 

1. New cars will not need an MOT until they are 4 years old rather than 3 years at present.

 

2. Fuel Duty to be frozen for another year.

 

3. Insurance premium tax is being hiked from 6% to 9.5%.

 

4. Vehicle Excise Duty is also being reformed. New cars will pay a variable rate and beyond the first year drivers will pay £140 in tax on most cars. Drivers are exempt if the car has zero carbon emissions.

[Conniff]

Benefits

 

1. £12bn of welfare saving will be found with spending focused on the elderly and disabled.

 

2. Disability benefit will not be taxed or means tested.

 

3. Those aged 18-21 must "earn or learn" and will lose their automatic entitlement to Housing Benefit.

 

4. From 2017 all working parents of 3 and 4 year olds must work if they want universal benefit but also get 30 hours of free childcare each week up from 15 hours.

 

Welfare Reform

 

1. The cap on benefits will be cut from £26,000 to £23,000 in London and £20,000 in the rest of the UK.

 

2. Those on higher incomes in social housing will have to pay the market rate for their homes. That applies to those earning above £40,000 in London and £30,000 elsewhere in the UK.

 

3. Working-age benefits will be frozen for four years including Tax Credits and Housing Benefit. Maternity payments will be excluded from the freeze.

 

4. Rent payments for social housing will be cut by 1% per year for each of the next 4 years.

 

5. Working benefits will be stripped from those who are not disabled and have no children and will be withdrawn at a faster pace as a claimants earning rise.

 

Child Benefit

 

1. Tax Credit and Universal Credit support to be limited to first 2 children from April 2017.

 

2. Housing Benefit will also be affected by removing family premium for new children from April 2016.

 

3. Multiple births like triplets will be excluded from the limit.

 

Housing

 

1. Buy to Let Landlords will get less tax relief on their Mortgage interest payments.

 

2. Home Owners with Lodgers will be able to earn £7,500 Tax-Free from their house-guest each year.

 

3. From 2017 there will be an extra £175,000 inheritance tax allowance for those who leave their homes to their children or grandchildren on top of the £325,000 standard inheritance tax allowance currently. The relief is tapered away for those with estates of more than £2m

 

Pensions

 

1. Those earning more than £150,000 will have their tax-free contributions allowance tapered away from its current £40,000 per year to a minimum of £10,000.

 

2. Dividend tax credit will be replaced by a new £5,000 tax-free dividend allowance.

 

3. Dividend tax rates are going up from zero to 7.5% for basic rate income taxpayers, from 25% to 32.5% for higher rate taxpayers and from 30.56% to 38.1% for additional rate payers.

 

Corporation Tax

 

1. Corporation Tax will be cut to 19% in 2017 and then 18% from 2020.

 

2. Small Firms National INsurance Contributions will fall with a £3,000 employment allowance

 

3. The annual investment allowance which was a temporary tax break for firms will be set at £200,000 permanently January 2016.

 

Non-Doms

 

1. Non-dom tax status will be abolished for those who have been in the UK for more than 15 of the last 20 years.

 

2. Individuals who live in the UK and were born to a UK-domicilied parents will also be ineligible for the status.

 

Cars

 

1. New cars will not need an MOT until they are 4 years old rather than 3 years at present.

 

2. Fuel Duty to be frozen for another year.

 

3. Insurance premium tax is being hiked from 6% to 9.5%.

 

4. Vehicle Excise Duty is also being reformed. New cars will pay a variable rate and beyond the first year drivers will pay £140 in tax on most cars. Drivers are exempt if the car has zero carbon emissions.

 

See, I said it was brilliant and fair.

[estellyn]

If Ed Balls had presented this budget, all the left wingers, labour, trade unionist and communists would be shouting 'genius'.

 

No I don't think so. I'm left wing leaning (which you already know ), and like you, I make decisions on my voting and support for measures based on what I think is best for the country, I just come at it from a very different direction than you. For me it doesn't matter who is proposing a budget or legislation, I decide based on what I believe to be right rather than based on the party or person proposing the measure. With this budget I agree with a couple of things, but the rest I strongly disagree with.

 

Blindly following a party, prominent person or even media outlet means we fail to think and analyse for ourselves. Critical thinking is a skill that seems sadly lacking in today's society.

[tobyjugg2]

Ah, I see, you didn't do grammar at your school.

 

Conniffs' obviously a rich family uni English degree grad (sic)

 

ROFL

 

(I thought 'How Oxbridge' as a response might have been a little too subtle)

 

 

addendum

Although there is an element of 'dig' there at conniffs' stance on charging for education, it was intended as good natured, and to allude to a question of who would sponsor an English degree - admittedly setting me up for a riposte at any response..

 

and if Ed balls had proposed that budget, he would have been lynched by his own party. (and I am broadly positive about the need for those sort of changes conniff - if not the method of implementation)

[SabreSheep]

Shall we continue discussing the subject at hand rather than each other?

[determindator]

Thank you for that CWK. Do you think they're getting the water cannons ready as we speak!

 

New business venture Wet Suits:-D

 

Just heard the big hoses won't be used, hoorah!! Boris will have to get his money back

[tobyjugg2]

and heres a very interesting overview of the aftermath

 

The Budget: Right-wing Hypocrisy and Left-wing Stupidity

http://www.huffingtonpost.co.uk/ioan-marc-jones/budget-2015_b_7777446.html