2021 Budget Predictions

[Macron]

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]

They might surprise us and make the likes of Amazon actually pay tax.

[Gecko1978]

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]

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]

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?

[alangla]

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]

Different VAT rates for luxury goods and online sales .
Then Fuel taxes, CGT , etc ???

[hepy]

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]

Nothing much until they have solved CV.

Allowance freezes, Stamp duty extension, probably not much more

[Sheets Tabuer]

10p on a p... oh wait.

[panholio]

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]

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]

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]

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]

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

[992_GT3]

Rivenink said:

They might surprise us and make the likes of Amazon actually pay tax.

They already do.

[pss1]

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

[Biker 1]

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

I think you need to add another nought to that.........

[Sophisticated Sarah]

Probably further punishments for the self employed.

[Capt. Howdy]

Sophisticated Sarah said:

Probably further punishments for the self employed.

Further?
What do they have now?