2021 Budget Predictions

2021 Budget Predictions

Author
Discussion

Macron

Original Poster:

6,122 posts

130 months

Saturday 13th February
quotequote all
Wednesday March 3, Rishi Rich will be telling the rest of us how much poorer we need to be to pay for Covid, £280bn and rising...

What are your predictions (ie how much lube, and where?)

I can see a lot of stealth, eg freezing allowances, and the fuel duty escalator coming back in, before we've thought about CGT as discussed in the Finance folder perhaps being aligned with income tax.

Rivenink

2,177 posts

70 months

Saturday 13th February
quotequote all
They might surprise us and make the likes of Amazon actually pay tax.


Gecko1978

4,772 posts

121 months

Saturday 13th February
quotequote all
Rise in CGT, fiscal drag bring more into higher tax brackets, likely higer tax on dividends and possibly an online levy which is just a tax on consumers. All in the name of paying for st many of us were denied.

NextSlidePlease

5,624 posts

105 months

Sunday 14th February
quotequote all
I think CGT bought into line with income tax is nailed on. He has to be careful at the same time though, any severe rises will hamper the economic bounce back and may do more harm than good. I can see him extending the stamp duty reduction to keep the housing market propped up for 2021.



Edited by NextSlidePlease on Sunday 14th February 22:08

Brainpox

3,046 posts

115 months

Sunday 14th February
quotequote all
Public sector pay freeze
Extend stamp duty relief to after the summer
Some proposals to encourage spending at hospitality venues, when they are allowed to re-open
Fuel duty must surely be raided now?
Given there's still plenty of time before the next election I wonder if they'd do something like reducing tax-free allowance?

daimlerv8

2,723 posts

44 months

Sunday 14th February
quotequote all
Remove VAT.....

Replace with Purchase Tax, so 'luxury' items such as expensive cars cost far more, but basics like electricity and gas cost less to those on a low income.

Give pensioners a far bigger State pension, afterall, they will go out and spend it, thus generating income for other business's to pay tax on.

Remove gin from all tax, or I'll buy a Chinese still to make my own!

laugh

alangla

3,034 posts

145 months

Sunday 14th February
quotequote all
Probably nothing much, some noises about “not repeating the mistakes of austerity” and a load of debt fuelled stimulus etc. Next year’s budget will be grim though.

powerstroke

10,247 posts

124 months

Sunday 14th February
quotequote all
Different VAT rates for luxury goods and online sales .
Then Fuel taxes, CGT , etc ???

hepy

788 posts

104 months

Sunday 14th February
quotequote all
alangla said:
Probably nothing much, some noises about “not repeating the mistakes of austerity” and a load of debt fuelled stimulus etc. Next year’s budget will be grim though.
This. No bad news stories at the moment.

GT03ROB

10,433 posts

185 months

Sunday 14th February
quotequote all
Nothing much until they have solved CV.

Allowance freezes, Stamp duty extension, probably not much more

Sheets Tabuer

16,015 posts

179 months

Sunday 14th February
quotequote all
10p on a p... oh wait.

panholio

889 posts

112 months

Sunday 14th February
quotequote all
I can weirdly see it being quite generous. Stamp duty extended etc.

Tax relief on higher rate pension contributions must be a target. Inheritance tax too. Possibly some noises toward the evil people on over £150k.

Jamescrs

1,786 posts

29 months

Sunday 14th February
quotequote all
No great hits to people this year as they are trying to climb out of covid and will want the country to go back out spending.

Next year will be bad.

Cyder

6,787 posts

184 months

Sunday 14th February
quotequote all
I agree, I think they’re already concerned that so many people still working have taken the opportunity to save a lot of money and clear out debts that they’ll want to encourage us all to spend spend spend.

Raising taxes would I assume do the exact opposite and folks would continue to tighten their belts.

Biker 1

5,224 posts

83 months

Sunday 14th February
quotequote all
I agree that Rish has limited scope this year & that 2022 will be bloody awful, probably including a load of 'green' bks. Longer term, he will be treading on eggshells. One bad move & he'll lose the voters in droves.....

GT03ROB

10,433 posts

185 months

Sunday 14th February
quotequote all
The number one priority is to get the economy growing, additional taxes will never close the gap. This really makes his options very limited

fesuvious

6,234 posts

205 months

Sunday 14th February
quotequote all
I think you're this far forgetting that you deal the bad news early in a governments term.

In 2022 they'll only be @12months from election campaigning starting.

If you're going to raise taxes hard and fast, do it now. Then start the feel good factor in 2023.

992_GT3

286 posts

3 months

Sunday 14th February
quotequote all
Rivenink said:
They might surprise us and make the likes of Amazon actually pay tax.
They already do.

pss1

336 posts

222 months

Sunday 14th February
quotequote all
1000% on booze duty. We’re all gagging to get back to the pub and if he does that we’ll have all this Covid debt paid back by Christmas hehe

Biker 1

5,224 posts

83 months

Sunday 14th February
quotequote all
pss1 said:
1000% on booze duty. We’re all gagging to get back to the pub and if he does that we’ll have all this Covid debt paid back by Christmas hehe
I think you need to add another nought to that.........