2021 Budget Predictions

2021 Budget Predictions

Author
Discussion

hyphen

19,561 posts

54 months

Wednesday 3rd March
quotequote all
FT took Rishi to task in his press conference just now. They advised that have analyzed and found the location based grants mostly favour Tory constituencies. Including Rishi's own

Naughty boy rofl


Biggy Stardust

1,103 posts

8 months

Wednesday 3rd March
quotequote all
hyphen said:
FT took Rishi to task in his press conference just now. They advised that have analyzed and found the location based grants mostly favour Tory constituencies. Including Rishi's own

Naughty boy rofl
Maybe there are more tory than labour constituencies due to the election result....................?

ant1973

4,198 posts

169 months

Wednesday 3rd March
quotequote all
According to the Budget report, the cost of the "super deduction" will be just under £25bn.

That is more than the increase in corporation tax is estimated to raise by 2025 - 2026 (c. 17bn).

So this is in effect a tax transfer from non-capital intensive businesses to capital intensive businesses.

DeejRC

1,938 posts

46 months

Wednesday 3rd March
quotequote all
Yes Ant. Cos he wants/needs the money being spent! I thought we all understood this?

ant1973

4,198 posts

169 months

Wednesday 3rd March
quotequote all
DeejRC said:
Yes Ant. Cos he wants/needs the money being spent! I thought we all understood this?
How about incentivising people to take on employees? I get that investing in capital drives productivity but I would have thought that a direct employment subsidy may have been useful as well.

NRS

17,104 posts

165 months

Wednesday 3rd March
quotequote all
Biggy Stardust said:
Scootersp said:
Biggy Stardust said:
The other side to what he was saying earlier is that if the hypothetical renter actually bought the house then he's denying the landlord any capital gain, so it's as broad as it's long. The argument is based on jealousy wrapped up in a veneer of social 'fairness'.
A veneer of social fairness? It's too late now but I do think that some form or legislation to limit this business would have been of benefit overall.

If buy to let had been restricted then the more wealthy couldn't have put as much of their money into it and so the only ones left to buy would have been the less wealthy and so prices would have been suppressed. My argument would be that an affordable place to live gives stability and the excess capital of others would be put to other more creative uses/investments, more risky yes perhaps but if you didn't like that you could just save it or spend it.

Then a persons home would be more affordable, and then not increased at such a rate above wages which makes it ever harder for the ones that follow.

If it makes me lefty so be it, but I think you can be lefty about certain issues without hating rich people or the capitalist system. I don't blame people for doing it (I have friends that have) as it's performed better than most other routes and at a reasonably low risk, I just believe had there been some form or restriction it would have been better for the country as a whole.
Are you aware that there are about a hundred laws & 400 regulations on BTL plus licensing and similar?
Are you aware of the new rules & regulations pretty much every week, from special taxation to banning eviction?
Are you aware that if the government didn't raise tax from BTL then it would have to tax 'proper' people a bit more?
Are you aware that this still sounds like jealousy in the veneer of social 'fairness'?
Are you aware you've missed his/her point by picking on random details? You don't have to choose a BTL you know...

purplepenguin

1,226 posts

151 months

Wednesday 3rd March
quotequote all
ant1973 said:
DeejRC said:
Yes Ant. Cos he wants/needs the money being spent! I thought we all understood this?
How about incentivising people to take on employees? I get that investing in capital drives productivity but I would have thought that a direct employment subsidy may have been useful as well.
Similar to furlough?

Murph7355

28,897 posts

220 months

Wednesday 3rd March
quotequote all
purplepenguin said:
Similar to furlough?
Probably more like in work benefits biggrin

ant1973

4,198 posts

169 months

Wednesday 3rd March
quotequote all
Murph7355 said:
purplepenguin said:
Similar to furlough?
Probably more like in work benefits biggrin
I was actually thinking about reduced NI contributions. If you have looked at my other posts, I favour tax and NI (of all flavours) being merged to bring simplicity and coherence to what is a needlessly complex area of tax. Taxing employment in the form of employer's NI is a dumb idea. It's even dumber in the face of what looks like a pretty unpleasant economic environment.

Alucidnation

15,881 posts

134 months

Wednesday 3rd March
quotequote all
purplepenguin said:
ant1973 said:
DeejRC said:
Yes Ant. Cos he wants/needs the money being spent! I thought we all understood this?
How about incentivising people to take on employees? I get that investing in capital drives productivity but I would have thought that a direct employment subsidy may have been useful as well.
Similar to furlough?
From what I remember, he has allocated resources for more apprenticeships etc./

m3jappa

5,188 posts

182 months

Wednesday 3rd March
quotequote all
What exactly is the sliding scale for corp tax or hasn’t it been released yet?

TriumphStag3.0V8

1,534 posts

45 months

Wednesday 3rd March
quotequote all
Alucidnation said:
What the actual fking point is Kier trying to prove exactly?
He just came across as an utter prick, throwing insults and coming out with fluffy soundbite bits and pieces. Nothing of substance to attack this budget on (it's decent given the circumstances) so all he could do was try to make himself sound clever and superior. He failed!

Julian Thompson

1,802 posts

202 months

Wednesday 3rd March
quotequote all
Impressed with Sunak. Treading a delicate line. Increases where huge profits are made, rewarding investment. Not entering panic mode.

Disgusted with Starmer waffling about NHS with their rock solid package already in the face of countless people losing everything. Instagram? Shut up. Clown.

J4CKO

33,421 posts

164 months

Wednesday 3rd March
quotequote all
So corporation tax goes to 25 percent, from 19.

How does that fit in with us PAYE folk paying 40% once we get to 50 grand or so, and 20 percent past the personal allowance ? Plus NI ?

I get the impression that costs will just be passed on but it doesn't seem that unfair based on what salaried folk have to pay unless i am missing something ?

Plus, obviously, the accountants will be working overtime to reduce it for their clients, if you claim that its hit you for five figures then you are still doing alright and were really doing all right before.

With the Furlough payments based on declared income, its almost like the govt are having a proper go at those who are self employed and perhaps playing a bit fast and loose with the old tax stuff.

I think Rishi is doing a decent job, I think the mark of his stewardship would be if he could coerce some of the local takeaways to maybe accept cards as their reluctance seems to be mainly based on tax evasion.





Chris Type R

6,161 posts

213 months

Wednesday 3rd March
quotequote all
J4CKO said:
With the Furlough payments based on declared income, its almost like the govt are having a proper go at those who are self employed and perhaps playing a bit fast and loose with the old tax stuff.
Perhaps I should have played fast and loose in the past as my sole trader profits put me outside of the support for the self employed.

There's not that much difference between PAYE and someone working through a Ltd company. You pay corporation tax, potentially some PAYE related taxes and then tax on dividend. The main saving is Employers NI. No paid holidays / sick leave.


Edited by Chris Type R on Wednesday 3rd March 21:17

Scootersp

1,844 posts

152 months

Wednesday 3rd March
quotequote all
NRS said:
Biggy Stardust said:
Are you aware that there are about a hundred laws & 400 regulations on BTL plus licensing and similar?
Are you aware of the new rules & regulations pretty much every week, from special taxation to banning eviction?
Are you aware that if the government didn't raise tax from BTL then it would have to tax 'proper' people a bit more?
Are you aware that this still sounds like jealousy in the veneer of social 'fairness'?
Are you aware you've missed his/her point by picking on random details? You don't have to choose a BTL you know...
Thanks,

Biggy I'll try and put it another way.....

1) I'm sure you agree with all the advice/adages of paying for you own house/mortgage and not someone else's via renting?
2) I think prices have risen as a result of the buy to let increase
3) So when you have a buy to let you've contributed to making it harder for someone else to make their point 1) come true.

So a buy to letter is in a small individual (but large collective) way a hinderance to others who want to do the same, and shelter is a basic human need, hence why I think it should have been restrained.

Are you aware I'm not saying it's not a business
Are you aware I'm not saying you're wrong for doing it,
Are you aware I'm not actually Jealous,
Are you aware I just believe that overall it's not been a benefit.

markcoznottz

6,397 posts

188 months

Wednesday 3rd March
quotequote all
ant1973 said:
DeejRC said:
Yes Ant. Cos he wants/needs the money being spent! I thought we all understood this?
How about incentivising people to take on employees? I get that investing in capital drives productivity but I would have thought that a direct employment subsidy may have been useful as well.
I don’t think the old adages work anymore mate. It’s all about velocity of money and fiscal stimulus. It’s one big Marshall plan. Scotch eggs in pubs don’t really cut it any more.

Biggy Stardust

1,103 posts

8 months

Wednesday 3rd March
quotequote all
Scootersp said:
Thanks,

Biggy I'll try and put it another way.....

1) I'm sure you agree with all the advice/adages of paying for you own house/mortgage and not someone else's via renting?
2) I think prices have risen as a result of the buy to let increase
3) So when you have a buy to let you've contributed to making it harder for someone else to make their point 1) come true.

So a buy to letter is in a small individual (but large collective) way a hinderance to others who want to do the same, and shelter is a basic human need, hence why I think it should have been restrained.

Are you aware I'm not saying it's not a business
Are you aware I'm not saying you're wrong for doing it,
Are you aware I'm not actually Jealous,
Are you aware I just believe that overall it's not been a benefit.
Triggered?

(btw- It's Mr. Stardust to you)

TTmonkey

16,862 posts

211 months

Wednesday 3rd March
quotequote all
It just reminds me how juvenile I can be that I smiled when I saw this.....


RichB

44,895 posts

248 months

Wednesday 3rd March
quotequote all
TTmonkey said:
It just reminds me how juvenile I can be that I smiled when I saw this...
What am I missing? confused