So what are peoples thoughts and any potential impact on yourself

[Rhossydd]

So, the latest change will mean that the top consultants will effectively be working for free if they don’t retire early and take their tax free lump sump befire the window closes.

This doesn't make any sense. There's no 'window'.
I can't see how NHS pensions are effected by any changes in the budget.

 

[Sachakins]

2019-2024 Tory govt put £80b of tax raises in place.

How does that fit with your trope

Give it time, it's only been a few weeks. And given this was the biggest increase of any budget this century for taxation, and there's many more budgets to come, (Unless their parliament gets ousted early by a peoples revolt), Then Labour will blow that figure out of the water..

 

[Jacob]

Give it time, it's only been a few weeks. And given this was the biggest increase of any budget this century for taxation, and there's many more budgets to come, (Unless their parliament gets ousted early by a peoples revolt), Then Labour will blow that figure out of the water..

Certainly hope so!
https://morningstaronline.co.uk/article/the-budget-reeves-dodges-tough-calls-to-calm-city

 

[NickDReed]

2019-2024 Tory govt put £80b of tax raises in place.

That should be understood in the context of £70bn outlay on the Coronavirus Job Retention Scheme between March 20 and September 21. The reality is that we are, and anticipate will still be paying the social and financial consequence of COVID lockdowns for many years to come.

The reality is that as with any budget, the proof will be in the eating. In 12-24 months we will know what the consequences (intended or not) are of the decisions relayed to the population yesterday.

Stating that this is not a budget the government want to repeat and this is required due to previous mismanagement is a political no brainer 4 months into office. That position will hold significantly less and less water in the future if this budget does not bear the fruit that was promised yesterday.

 

[Hypnotic Chimera]

Give it time, it's only been a few weeks. And given this was the biggest increase of any budget this century for taxation, and there's many more budgets to come, (Unless their parliament gets ousted early by a peoples revolt), Then Labour will blow that figure out of the water..

If we want to be "fair" about the recent budget - dispassionate, and cold, non-partisan - "fair" analysis would lead to the following deduction:

Of the tax rises announced yesterday, despite the fact that they were "announced" by Labour, the taxation liability was put in place by the previous govt. The prior unfunded and known Tory govt spending included a promise to pay compensation for the Contaminated Blood Scandal to the tune of £12bn. That was unfunded, unbudgeted, but is required to be paid for through taxation. Over and above the known unfunded spending, there was also an unknown unfunded spending promise bill to the tune of over £20bn (see OBR report dated 30 Oct 24)(Tory has tried very hard to conflate these two separate and distinct obligations in the attempt to hoodwink the public into believing that there is only one £20bn unfunded, unbudgeted spending commitments - the known one.).

This £32bn portion of tax increases ought to be accrued to Tory and added to the £80bn figure already stated.

 

[Housey210]

Just to build on this - don't forget for the hundreds of thousands of "ordinary workers" who are freelancers hit by IR35, this is something that will go straight out of their payslips.

As has always been said - Dogs bark, Cats meow and Labour increases taxes.

The only consolation is that if history is anything to go by, this will be a one term government - followed by several parliaments in opposition. We must just hope the damage they cause is not irreparable.

How about we all not pay tax? Colleague, landlord of two flats, not exactly honest with mortgage company on them being buy to lets, avoids deposit scheme, and spends 6 months of every year in Thailand on the cash he smuggled out. Oh dear, he had a heart attack out there. £8k the doctor wanted before any treatment, paid by card. Extra cost to re-book flight, next day, as he wanted to get back to the NHS. On my visit back in 2000 I witnessed a hotel owner negotiate a price with the fire crew to put his fire out. How lucky we are here. How would all feel if we had to pay thousands to see a specialist at a hospital? what choice would all make for your kids treatment, how would all pay for that? 7 year waiting list for a diagnosis for some kids on spectrum. Taxes are fare, clamp down on those who knowingly avoid paying is a must.

 

[Phil Pascoe]

You appear to be under the illusion that you don't pay for the NHS.

 

[AJB Temple]

Interesting this morning on BBC Radio 4 that a moderately sizeable business was pointing out that the additional payroll cost consumes a quarter of their pre-tax profits which are already low in terms of an acceptable return on investment. (Reducing corporation tax as a by product). The business response was all the usual things of cease recruitment, cut back on wage rises, close sites etc, which adversely affects probably the most vulnerable employees, but also, rather interestingly, outsource much more to India etc. They put it as transferring the employment cost out of the UK. This has been doing the rounds on business discussion groups and gathering momentum. It makes sense as then there is no national insurance costs and no employee protection issues at all.

When labour (or any party) gets into a fight with business, there are always unintended consequences. Politicians and civil servants usually have almost no idea how business actually operates.

Incidentally, when people like Jacob say the NHS is not for profit, this is also naive. The NHS buys everything in - all medical supplies, equipment, pharmaceuticals, agency staff and a great deal of scanning (MRI, PET CT etc) and all of these suppliers are very much "for profit" organisations. Because the NHS is not run as a business, procurement attitudes are different to those in commercial enterprise, as those responsible for procurement are not spending their own money. It is not dissimilar to defence procurement. Wasteful but no one cares as the public pays via tax.

 

[RobinBHM]

Give it time, it's only been a few weeks. And given this was the biggest increase of any budget this century for taxation, and there's many more budgets to come, (Unless their parliament gets ousted early by a peoples revolt), Then Labour will blow that figure out of the water..

Thank you for your post although Im not sure your political tribalism which prompted your fearmongering is that helpful.

 

[Amplidyne]

Interesting this morning on BBC Radio 4 that a moderately sizeable business was pointing out that the additional payroll cost consumes a quarter of their pre-tax profits which are already low in terms of an acceptable return on investment. (Reducing corporation tax as a by product). The business response was all the usual things of cease recruitment, cut back on wage rises, close sites etc, which adversely affects probably the most vulnerable employees, but also, rather interestingly, outsource much more to India etc. They put it as transferring the employment cost out of the UK. This has been doing the rounds on business discussion groups and gathering momentum. It makes sense as then there is no national insurance costs and no employee protection issues at all.

When labour (or any party) gets into a fight with business, there are always unintended consequences. Politicians and civil servants usually have almost no idea how business actually operates.

Incidentally, when people like Jacob say the NHS is not for profit, this is also naive. The NHS buys everything in - all medical supplies, equipment, pharmaceuticals, agency staff and a great deal of scanning (MRI, PET CT etc) and all of these suppliers are very much "for profit" organisations. Because the NHS is not run as a business, procurement attitudes are different to those in commercial enterprise, as those responsible for procurement are not spending their own money. It is not dissimilar to defence procurement. Wasteful but no one cares as the public pays via tax.

Spending "other people's money"
All governments, and associated agencies and organisations, find this remarkably easy.
They just put it "in the budget" and away they go.

 

[Phil Pascoe]

Because the NHS is not run as a business, procurement attitudes are different to those in commercial enterprise, as those responsible for procurement are not spending their own money. It is not dissimilar to defence procurement. Wasteful but no one cares as the public pays via tax.

My grandfather worked years ago for the M.O.D. - he said he was sure the main reason they were under the Official Secrets Act was to to prevent their broadcasting how much money was wasted.

 

[RobinBHM]

The business response was all the usual things of cease recruitment, cut back on wage rises, close sites etc, which adversely affects probably the most vulnerable employees, but also, rather interestingly, outsource much more to India etc. They put it as transferring the employment cost out of the UK. This has been doing the rounds on business discussion groups and gathering momentum. It makes sense as then there is no national insurance costs and no employee protection issues at all

OBR isn’t predicting a rise in unemployment, the opposite in fact.

By the way an increase in NHS spend will help people needing operations etc to get them done and back into work

1.13 Supported by the temporary boost to demand from this Budget, the unemployment rate falls from 4.3 per cent this year to 4.0 per cent in 2026 before returning to its estimated structural rate of 4.1 per cent in 2028. The impact of Budget policy measures accounts for nearly all the reduction in the unemployment rate relative to the March forecast, with a peak impact of 0.3 percentage points (100,000 people) in 2025. The participation rate declines slightly over our forecast to reach 62½ per cent in 2029 – well down from the peak of 64¼ per cent in the first quarter of 2020. The biggest drag comes from the ageing of the population, with the rise in employer NICs in this Budget also having a small negative effect. The overall effect of tax rises in this Budget is to lower the participation rate by 0.1 percentage points, leaving it 0.2 percentage points below our March forecast in 2028. The employment rate rises a little in the near term and then declines to just under 60 per cent by the forecast horizon, but population growth means that total employment increases by 1.2 million people from 2024 to 2029

 

[RobinBHM]

Spending "other people's money"
All governments, and associated agencies and organisations, find this remarkably easy.
They just put it "in the budget" and away they go.

Here is good example of spending other people’s money

https://inews.co.uk/news/thames-wat...dGsLelkIrHLKxvF6PDrljRXqaHsDVnnTci98vMLhchp7c

 

[AJB Temple]

Robin, it's nonsense. But people will continue to believe in things anyway. For some politics is similar to religion and equally delusional.

 

[Jacob]

....

Incidentally, when people like Jacob say the NHS is not for profit, this is also naive.

No it is not naive. The NHS does not generate a balance sheet, profit, nor pay out dividends like a business. Simple fact, even if it does confuse and upset the free-market neo-liberals!

.... Wasteful but no one cares as the public pays via tax.

Wasteful? What, having a healthy population? You say no one cares? Very strange.

 

[Hypnotic Chimera]

You appear to be under the illusion that you don't pay for the NHS.

Don't be disingenuous - his post was all about everyone should to pay tax, and pay enough tax to fund the NHS as well as all of the required Public Services.

 

[Jake]

You appear to be under the illusion that you don't pay for the NHS.

Can you imagine what your premiums would be in a private medicine system.

 

[woodieallen]

NHS compares well against the leading health services like France Germany, Italy.

What metric are you using ? Wishful thinking ?

 

[Jacob]

Can you imagine what your premiums would be in a private medicine system.

https://www.william-russell.com/blog/health-insurance-usa-cost/

 

[AJB Temple]

No it is not naive. The NHS does not generate a balance sheet, profit, nor pay out dividends like a business. Simple fact, even if it does confuse and upset the free-market neo-liberals!

Wasteful? What, having a healthy population? You say no one cares? Very strange.

Delusional still Jacob. That pony you are on is still travelling left. Businesses feed off the NHS. Greedily. The waste is in ludicrous procurement costs because of this. We all pay.