The Next Conservative Budget
Discussion
nightcruiser said:
No mention of the Help to buy ISAs. Will this still be going ahead?
Yep, It's still in there."Help to Buy: ISA
1.231
To help as many people as possible realise their aspirations of home ownership, the Help
to Buy: ISA was announced at Budget 2015. This supports people saving up for their first home
by providing them with a maximum government bonus of £3,000 on £12,000 of savings.
The
government is today announcing that Help to Buy: ISAs will be available for first time
buyers to start saving into from 1 December 2015.
First time buyers will be able to deposit
£200 per month into their Help to Buy: ISA at participating banks and building societies.
First
time buyers will be able to open their Help to Buy: ISA accounts with an additional
one off deposit of £1000 so that they can start saving now"
Pooh said:
arp1 said:
Everyone pays for everyone else's pay and pension in some shape or form so don't give me that twaddle! You pay your own as well the same as I do.
No they don't.You get paid by the government and give some of it back to fund your pension, the net gain to the government is nil therefore all the costs associated with you, pay pension etc. are funded by the government from tax receipts, borrowing etc.
arp1 said:
I pay tax so I pay my wages. I also pay for products so I fund your wages.
You miss the point, you pay tax, buy things etc with money given to you by the government so all you are doing is giving them some of their own money back, this helps reduce your cost to the government but you are still a cost. The government has to pay you from the public purse so you are funded by the taxpayer and contribute to government spending.I am paid by a private company, that money has not come from the government and I pay taxes, buy things etc so the government gains.
As it happens, most of the company income is from abroad so I am bringing money into the country.
johnxjsc1985 said:
How many private sector workers does it take ( paying Tax) in order to employ one Public sector worker on avg earnings three or four or is that not the way to look at it.
I think there are @5m public sector workers out of a total workforce of @30m, so that sounds about right. FredClogs said:
I agree. The argument has arisen because of the idea that doing a 4 year degree in "golf course design" is somehow a waste of a young persons life and tax payers money. If the argument is that bachelor's degrees are an outdated concept and people should be "trained" for work and bachelors should be trained for a life of drunken pontification (i.e politics) then I would also agree - Take Boris Johnston for example (I'm not saying he's a drunk).
But I think the motivation behind those that decry the current state of higher education is a general disappointment in the fact that poor people are obtaining the same qualifications (in name) as the privileged.
I think my issue with degrees which don't offer the sort of education (in a general sense) that academic subjects do is that they are qualifying a person for a relatively narrow range of careers. I don't think being a mad keen golfer is a good reason to study Golf Course Management, but I suspect that to be the primary reason for many if not all of the students. Lots of employment opportunities in that sector is a good reason. Lots of employment opportunities outside of the sector despite the degree subject is a good reason. But I think the motivation behind those that decry the current state of higher education is a general disappointment in the fact that poor people are obtaining the same qualifications (in name) as the privileged.
I'm not decrying the value of a degree for the sake of it - my wife didn't read music as an undergrad because she was worried about the career options it would leave her, but she recently obtained a music degree through the OU. She did it in her spare time as a self-funded hobby, a luxury she was in the position to afford. I'm not sure that 18 year olds are in the position where doing that is a rational decision, nor that funnelling limited public resources into facilitating it is the best thing for the country. (I would actually consider a music degree more useful than the sort of thing we're talking about, but it illustrates the dilemma)
I don't blame the kids for making those choices, but I think we do have to consider whether we are really doing the best thing for them and us by enabling it. Personally, had I been better advised, I would not have rejected the idea of applying to Oxbridge on the grounds that they did not offer a specialised undergraduate degree in the particular field of biology which interested me. I chucked away an opportunity because I did not understand that most of the content of all biology degrees is common, that I would still be given some opportunity to specialise later in the course, that I could pick up the difference in a master's afterwards, that the pool of jobs that my specialisation would advantage me in was small and not very well paid, that in any case the specialisation would not be that much of an advantage, less so than a degree from a more prestigious institution, and that ultimately after obtaining a 1st and a PhD in the subject area I would end up working in an entirely unrelated field.
IMHO - new budget proposals seem fairly decent compromise.
Other than soaking the rich to fund ever increasing government expenditure and reduce the defecit (which some will no doubt be in favour of - albeit ultimately self-defeating) the only way to manage the deficit is to reduce government expenditure.
This will always hurt those who are more dependent upon benefits.
Osbourne appears to have attempted to mitigate some of the damage by requiring employers to fund some of the benefit shortfall through increasing minimum wage, and the subsequent impact on employers through reduced CT and NI.
It's all a bit of a balancing act - but imho preferable to the ever increasing spend/borrow/spend cycle witnessed recently - which would have ended in tears - and those who would have suffered most would, again, been the poorest.
Remains to see if this works in the long run - but I think it stands a better chance.
Other than soaking the rich to fund ever increasing government expenditure and reduce the defecit (which some will no doubt be in favour of - albeit ultimately self-defeating) the only way to manage the deficit is to reduce government expenditure.
This will always hurt those who are more dependent upon benefits.
Osbourne appears to have attempted to mitigate some of the damage by requiring employers to fund some of the benefit shortfall through increasing minimum wage, and the subsequent impact on employers through reduced CT and NI.
It's all a bit of a balancing act - but imho preferable to the ever increasing spend/borrow/spend cycle witnessed recently - which would have ended in tears - and those who would have suffered most would, again, been the poorest.
Remains to see if this works in the long run - but I think it stands a better chance.
Anyway, my attention has been brought to the new changes to VED banding and the premium charge of £310 a year for the first 5 years on new car sales over £40k. Seems a bit more PH. On the face of it it's made to look like the average car will be charged less VED, but I think the reality is that the new "sales tax" may well put some people off buying a new car.
JD said:
nightcruiser said:
No mention of the Help to buy ISAs. Will this still be going ahead?
Yep, It's still in there."Help to Buy: ISA
1.231
To help as many people as possible realise their aspirations of home ownership, the Help
to Buy: ISA was announced at Budget 2015. This supports people saving up for their first home
by providing them with a maximum government bonus of £3,000 on £12,000 of savings.
The
government is today announcing that Help to Buy: ISAs will be available for first time
buyers to start saving into from 1 December 2015.
First time buyers will be able to deposit
£200 per month into their Help to Buy: ISA at participating banks and building societies.
First
time buyers will be able to open their Help to Buy: ISA accounts with an additional
one off deposit of £1000 so that they can start saving now"
I know of a family of two adults and four children who are on benefits ,no idea why because the adults are capable of work.
But the cost of raising four children including housing,Education and healthcare for 18 years along with two adults must be huge the numbers are scary imagine how wealthy we could actually be if everyone actually contributed even in a small way. I will be interested to see how their benefits are affected as I am sure he will be only to ready to moan if and when he has them cut.
But the cost of raising four children including housing,Education and healthcare for 18 years along with two adults must be huge the numbers are scary imagine how wealthy we could actually be if everyone actually contributed even in a small way. I will be interested to see how their benefits are affected as I am sure he will be only to ready to moan if and when he has them cut.
simoid said:
IroningMan said:
rover 623gsi said:
otolith said:
Just seen this - I must admit, I had no idea that tax credits and child benefit were quite so generous, I didn't realise that a minimum wage earner with two kids was on the same take-home as a single person on £24250.
another way of looking at that is that in one example there are four people living on £24,250 and in the other example there is one person living on £24,250the idea behind tax credits was that it would encourage people in the example given to at least take the full-time minimum wage job rather than do nothing.
I think the tax credit system was/is messy and over-complicated and some reform was needed, but there are a lot of families that are going to really, really struggle without it.
And why are families going to 'really, really struggle' without tax credits when the numbers above show that their incomes will be affected very little? Are the numbers wrong?
johnxjsc1985 said:
I know of a family of two adults and four children who are on benefits ,no idea why because the adults are capable of work.
But the cost of raising four children including housing,Education and healthcare for 18 years along with two adults must be huge the numbers are scary imagine how wealthy we could actually be if everyone actually contributed even in a small way. I will be interested to see how their benefits are affected as I am sure he will be only to ready to moan if and when he has them cut.
Hopefully after moaning about it he will go and get a job. Ultimately it's in his & his families best interests if he's weaned off benefits, for some the teat needs to be yanked away. But the cost of raising four children including housing,Education and healthcare for 18 years along with two adults must be huge the numbers are scary imagine how wealthy we could actually be if everyone actually contributed even in a small way. I will be interested to see how their benefits are affected as I am sure he will be only to ready to moan if and when he has them cut.
You have to be carefull with taking benefits away from families working or not.
The children will bare the brunt.There is always the story of single mother with two children are worse off.What happens to the husband or boyfriend doe they pay towards their children or does nobody bother?.We brought up three children and often times where hard you make choices.I cycled to work instead of paying for a car.Good food on the table came first for my children.
My wife was a care assistant for many years for eldery people.Later on in her job she cared for people with learning disabilities for a low wage.The price she payd was nerve damage to her legs due to the heavy lifting she has done over the years.She is on disability now.I sometimes feel quilty not earning more money not for her to work.But we both wanted a nice house and a good area for our kids to grow up in.We all make choices in our lives.
The children will bare the brunt.There is always the story of single mother with two children are worse off.What happens to the husband or boyfriend doe they pay towards their children or does nobody bother?.We brought up three children and often times where hard you make choices.I cycled to work instead of paying for a car.Good food on the table came first for my children.
My wife was a care assistant for many years for eldery people.Later on in her job she cared for people with learning disabilities for a low wage.The price she payd was nerve damage to her legs due to the heavy lifting she has done over the years.She is on disability now.I sometimes feel quilty not earning more money not for her to work.But we both wanted a nice house and a good area for our kids to grow up in.We all make choices in our lives.
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