Budget

[motorbiking]

You could maybe complain to someone, not sure who. Unfortunately, you are stuffed for a few years yet.

No need. Kier is on it.

https://twitter.com/x/status/1852584192644653293

 

[Notch7]

Reeves admits it.

Chancellor Rachel Reeves admits she was 'wrong' to say higher taxes not needed during election

A month before Labour won the election, Rachel Reeves said higher taxes were not what the UK needed - but on Wednesday she raised them by the highest amount since 1993.

news.sky.com

working people will obviously feel the tax rises. Not high paid ones. Firms with high paid workers can easily avoid the increases in NI.

£80b of tax rises the Tories put in place from 2019 onwards......do you think working people felt that (its odd hoe you never mentioned it )


Minimum wage up
Tax allowances up
More money NHS

 

[Notch7]

Let me explain what will happen...

Dear Low paid worker, due to increases in employers NI contributions and the ongoing pressure on business margins the following changes will be applied to pay and benefits: [pick any number]
- the annual pay increase will take account of the increased costs and be reduced by 1%.
- discretionary over time pay will be capped/reduced
- employers contribution to pensions will be reduced 1%
- You will no longer get discretionary birthday off.
- private medical excess will be increased.

Dear high paid worker, due to increase in employers NI contributions and the ongoing pressure on business margins the following changes will be applied to annual bonuses:
- your 50% bonus is reduced to 25%, You will received an invitation to join the management share participation purchase scheme (MPPS) to the value of your 25% bonus. You will be loaned the money to purchase the shares via the MPPS, you will be entitled to sell the shares back to "invest co". at the end of FY25 at the published rate [2X]. You should make sure you declare this as a CGT on your self assessment. This will enable us to reduce both Employee NI and Employer NI. You will also avoid 21% tax on your bonus return [2X]. For those who's OTE, is below £120k, you may get some of your personal allowance back too. Result!.

£80b of tax rises pit in place by Tories

14 years of wage stagnation under tories

 

[denso13]

Let me explain what will happen...

None of that is happening in my organisation. Pants on fire again...

 

[Collectors]

I wonder what will happen with me. I rent rooms out in my own home & get £7.5K tax relief. But when i sell the house i a get CGT on what i have made. Will the sods tax me twice.

 

[carmanmemoranda]

Let me explain what will happen...

In your opinion, only

Dear Low paid worker, due to increases in employers NI contributions and the ongoing pressure on business margins the following changes will be applied to pay and benefits: [pick any number]

So not direct tax increases on the pay packet

- the annual pay increase will take account of the increased costs and be reduced by 1%.

Even if they make a loss or bigger profits, ok.

- discretionary over time pay will be capped/reduced
- employers contribution to pensions will be reduced 1%

If the company needs overtime it will pay for it. It makes profits by doing it.

- You will no longer get discretionary birthday off.
- private medical excess will be increased.

Doesn't happen for low paid workers, so no change there then

Now what about the black hole the Tories left

 

[ReganAndCarter]

Depends whether it's a hole to hide things. Or a hole to put foundations in .

Nah, more likely a bottom less pit.

Into which obscene amounts of taxpayers' hard earned will be shovelled.

 

[carmanmemoranda]

Nah, more likely a bottom less pit.

Into which obscene amounts of taxpayers' hard earned will be shovelled.

There's been a few of them over the years I agree.

But the intent to build foundations or just cover things up is the difference.

 

[motorbiking]

None of that is happening in my organisation. Pants on fire again...

They may not tell the lower paid [i.e. you] about the impact.

So not direct tax increases on the pay packet

less money is less money.

Even if they make a loss or bigger profits, ok.

If they make a loss it just got harder to stay in business - who picks up the bill when a firm goes bust?

If the company needs overtime it will pay for it. It makes profits by doing it.

naive.

Now what about the black hole the Tories left

nobody can find it.

 

[motorbiking]

£80b of tax rises pit in place by Tories

14 years of wage stagnation under tories

labour increases that by 50% in just 4 months.

 

[carmanmemoranda]

They may not tell the lower paid [i.e. you] about the impact.

No different to when things go well. I tell myself everything about my business. The good bits and the bad bits. Why do you think I'm lower paid? I work what hours I want, anywhere between zero and 70 hours a week, averages about 25.

less money is less money.

But not at paypacket level

If they make a loss it just got harder to stay in business - who picks up the bill when a firm goes bust?

What if they make bigger profits? It happens

naive.

Tell me why a company pays out for overtime if it's not for profit ? Cheaper than more full time staff. Naive indeed

nobody can find it.

OBR amongst others did

 

[carmanmemoranda]

labour increases that by 50% in just 4 months.

Yes, good to see wage rises for the lower paid isn't it

 

[aveatry]

£80b of tax rises the Tories put in place from 2019 onwards......do you think working people felt that (its odd hoe you never mentioned it )

Wasn't that to pay people to do nothing at home in case they caught a cold - and didn't you support that

 

[denso13]

labour increases that by 50% in just 4 months.

Where did I put my violin...

 

[Notch7]

No need. Kier is on it.

https://twitter.com/x/status/1852584192644653293

Conservative lost, it’s time you got over it
Brexit is a massive failure, it’s time you accepted it