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Budget Thoughts


Bingalau
Resolved

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A few years ago this forum would have a bit of a ding dong going about the latest budget. So far today Nothing. So I will put my halfpenny worth in. Is it right that us poor pensioners are punished? After all, most of us are the ones who kept this country going through the bad times and some of us even through the last war. (anticipating Brumas, I wasn't in the Boer war or the first World war).

What annoys me is that young 14 and 15 year old girls can still purposely have a child so that they can live off the state for free. Surely something could and should be done to stop this shameful practice.

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Quickbeam

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Bingalau

You're surly mistaken, all those problem 2%ers live in South Yorks.

Regarding pensions, I can't see what you've got to complain about if you're actually getting one. My generation will now have to be dead before we can qualify, and then we'll be disqualified on account of being dead!

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badgery

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'Smoke and mirrors'

It was awful watching Danny Alexander (the over-promoted LibDem)repeating endlessly the party-agreed line that no pensioner will lose any "cash". Yet the measures are estimated to increase the tax intake by billions, so, presumably pensioners are losing it from somewhere?

I think, when the dust settles, it will be the end for the coalition, and the very end for LibDems.

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Bingalau

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Quickbeam. Don't die then, stay around as long as you can to take as much of your hard earned cash back from the authorities.

I firmly believe that a lot of people think they have nothing to live for when they reach a certain age and they give up. I have heard of some people dying the day after they have retired. They must have lived to work when it should be the other way around.

Reading lotvic's post above makes me wonder if I am also one of the single parents quoted. I have three children and am widowed. But am happy to say none of my children have sponged off the state.

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Condom

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Quickbeam I think you have finally understood what the State Pension is all about. It was something workers paid into with little chance of actually getting it as so many died before they were 65. Then things changed and us poor sods started living longer so they have had to put the retiral age up again to try and stop too many of us getting it. OK I'm a cynic. I also think that I have said before in this forum that I really don't care where the next generation of youngsters come from as long as we get them as the biggest problem this nation will ever have is too many wrinkles like me with not enough workers to support us.

I thought the Budget did nothing for me but actually for the next 12 months I appear to be OK (According to the BBC calculator) as the Chancer has made many of his changes for 13 months ahead but which time maybe he hopes I might be dead.

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ton

Likes # 1

Known as the Family Allowance, the 5 shillings a week payment was given to parents only for their second and subsequent children, thus helping shore up the depleted population by encouraging more births.

Surely we don't need this now (encouraging more births).

I think they should phase out child benefit payments or at least restrict it to two children.

At the moment too many live off the backs of us, the tax payers, and they just think "the more children we have the more money we get".

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badgery

Likes # 0

Much is made of the increase in personal allowances, and taking the low paid 'out of tax'.

But the actual effect is to give the same saving to ALL taxpayers further up the income ladder as well (with higher rate payers benefitting even more!). So if, as the LibDems said, "Low earners will have an extra £700 pa with the allowance increase" - then everyone earning more will also all get £700 each as well.

So this cannot be claimed to be a 'targetted' tax to help low earners, if even the highest earners get it as well. 'Sleight of hand, I'm afraid'.

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dms_05

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Quote:

" Ros Altmann, the director-general of Saga, said: “This is an outrageous assault on decent middle-class pensioners.

“This Budget contains an enormous stealth tax for older people. There is nothing in this Budget for savers, there is nothing to improve the annuity market, nothing to appease the damage of quantitative easing and nothing to support ISA changes and shelter older people’s cash. This Budget is terrible news for pensioners.”"

Says it all.

Problem is - who is their left to vote for - the pensioner is seen as an easy target by all politicians. Pensioners worked hard, paid tax, took out private pension, then we are taxed to death by Osborne who then give his mates a nice cut in the 50% tax rate.

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badgery

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Did you ever see such a shame-faced bunch of millionaires sitting on the Front bench when Miliband asked them directly to say if they were better off after the budget!

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spuds

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I would be the first to admit that I know nothing about Government Budgets and the complications regarding tax incentives. I haven't even looked at yesterdays reports from the various sectors, but I might do later today.

What I do find very interesting, is that all the talk about secrecy of what is going to be in a budget, seems a little bit far fetched, to me at least. Why do I say that, and the answer might be very simple. Last week I received in the post a number of letters from the DWP, HMRC and pension providers etc, and they all seemed to be aware of what I would get in 2012/2013, and how it would effect them and me?.

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anskyber

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I have never been entirely sure why there is an age related extra personal allowance, perhaps someone could enlighten me.

I do see the advantages in having a simple single personal allowance for all with the current upper cap of £100k at which point the allowance is constrained. There are significant benefits for government to alter the system at a time when the post war "baby boomers" start reaching the age for the benefit and costing more in terms of tax loss.

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