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Re: Emergency Budget 2010
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Re: Emergency Budget 2010
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For me, as a pensioner over 65 .. the personal allowance is set at £9,450 anyway; this already covers no income tax being deducted from my state pension, however, now have small income and the 2.5% increase in VAT will certainly hit me and put lots of goods beyond my reach.:( At least no rise on me fags, alcohol and fuel. :D |
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Also, the bit about lone parents is a little amiguous ... hmmm .. is this a warning that there is more to come on this ? |
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i know what you're saying Kate but people do keep having children to stay on benefits, there is no getting away from that fact, yes i am a single parent, yes i am on benefits for now but i didnt have a kid every other year just so i could stay on benefits longer |
Re: Emergency Budget 2010
Kate - our tax allowance for over 65s is currently £9490, not £9450.
I gather that it will go up by £1000 too - I hope I have understood correctly. I currently pay about £600 a year in income tax on my civil service pension, so I will only pay about £400, which is £16.66 less tax in a month to me. |
Re: Emergency Budget 2010
PS - It seems I was wrong.
I have found this - Budget: 700,000 more taxpayers in highest tax band | UK news | The Guardian There was no word on personal allowances for pensioners. Currently, those aged 65-74 enjoy a personal allowance of £9,490, while those above 75 have an allowance of £9,640. Sources suggest that pensioners will have to wait until the autumn for an official announcement on allowances. |
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The VAT increase will hit everyone.......but that way no-one escapes. I know that it will make a very little dent in those who earn lots of money, but there may be other things that will appear in the autumn budget that will sting the folk who have pots of money. |
Re: Emergency Budget 2010
You're right about £9,490 .. was a typing error.
What I was saying was that there is no cushion for me on a low income, and the rise Barry talked about happens anyway. The new rise linked to earnings may be very little more as pays are frozen which will depress earnings inflation. So, buying essential expensive goods and services, which I find difficult these days, will take them out of my pocket. The gap widens between rich and poor. The new rise will help the big earners too don't forget who can afford essential services without effort, even with the VAT increase. I don't like freezing wages either for public sector workers over £21,000 for two years. Doesn't help with any incentives to work well. Mind you, this is happening too in the private sectors as government budgets are being cut. |
Re: Emergency Budget 2010
Perhaps those public sector works need another incentive?
Like keep coming to work accepting this pay freeze & you may get to keep your job. The alternative is to cut jobs. |
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Just hope it doesn't persuade them to take their talents into the private sector or abroad. |
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As to Katex's point, according to demographics & politicians the Country needs Children, to cover the costs of a longer living older generation, how ? Until the kids are of working age they also take up the countries resources. Still having said that even when they reach working age 18-20 years down the line there is no guarantee they will get work. Take a look round at some of the youngsters now or even their parents in some cases, unemployed /unemployable immaterial of it's through choice or lack of opportunities. where shall the money come from ? The reduced workforce with more obligations ? No the VAT includes everyone, as to it being fair or not well the individual decides how much they pay by their spending habits, chuck it round like a sailor on shore leave & the Government creams it in, stay frugal, do you really need a 9ft telly, all the latest gadgets & fashions ? Choice is yours. As to chuntering on about the increase wrecking the Economy I don't see how, People adapt, always have done always will do. Germany hiked its VAT in 2007 from 17% to 19% Guess what Germany is still functioning, admittedly there were the doom & gloom mongers inferring Economic collapse & Germany being pushed back to the dark ages etc,etc, well how about that it didn't come to pass ! For the first 6 month or so people griped & spent a little less, then Summer came & things picked up, no big deal. I say give it time & you'll probably find things will work out. |
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