2021 Budget

[JohnD]

"When is it?
This year's Budget speech will be delivered on Wednesday 3 March.

It usually starts at about 12:30 GMT and lasts around an hour."

https://www.bbc.co.uk/news/business-55765868

if you listen carefully, you may find it mentioned on radio, TV and t'interweb.

 

[motorbiking]

Looks like he couldn’t sleep. He’s already announced furlough extension.

 

[Bodgedbuild]

I'm waiting for Rishi to announce "drink out to help out"!

 

[Notch7]

Conservatives are talking about giving more help to businesses to stimulate growth

Labour are calling to not raise corporation tax....to stimulate growth.


and both have spent decades arguing the polar opposite.

 

[Mottie]

He’s already announced furlough extension.

Yes, the furlough scheme is being extended until the end of September. That will be good news for me and other small businesses like mine. If there is ever going to be any confidence in sending school aged children out to vocational alternative education providers, providing covid is under control, that will be the time that those businesses can re-open - if they are still about! I know a few that have closed for good simply because of the costs of keeping the business mothballed. Rents and other expenses still have to be paid. My awarding body have a minimum yearly spend of £5k to maintain accreditation. They waived it for everyone last year but I’d need to be certain of a decent contract before shelling out just to continue.

 

[JohnD]

House prices to go up as people will be enabled to take out larger mortgages.

This will not help buyers.

 

[JohnD]

The holiday for business rates will continue until the end of June and will be cut by two-thirds for the rest of the year

 

[SirGalahad]

Budget affects everyone but it doesnt get the RW riled up like some story about boat people or wokism.

Hats off to the media.

 

[JohnD]

Income tax allowances will be frozen until 2026
(E.g. personal allowance of £12,570 starting next month)

(Some sources incorrectly say, at £12,500)

The announcement is badly worded.

 

[SirGalahad]

Corp Tax rises. Whoppeeeeee.

Watch the mental gymnastics to defend this.

 

[JohnD]

Corporation tax to rise from 19% to 25% from April 2023

But companies with profits of less than £50,000 will still pay 19%

 

[motorbiking]

wow - wasn't expecting that - I guess its furlough payback time

 

[JohnD]

there will be a tapered extension of the stamp duty holiday until 30 September.

This will have the effect of paying about £352billion extra into the pockets of vendors, at the expense of other taxpayers. It will not help buyers.


Edit
In recognition of this fact,
"House builder Persimmon added 5 per cent in early afternoon trading in London, while residential developer Taylor Wimpey gained 3.6 per cent."

 

[motorbiking]

or fuels demand to build and own a home..

 

[JP_]

Should have done free home deliveries for all takeaways - that'd help save takeaways and keep people at home at the same time.
But simple, commonsense solutions are not their forte.