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Budget 2012

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    This Wednesday Chancellor george Osborne will read/announce the annual budget to the house of commons and will reveal how much the UK has spent and how much will be needed for the UK

    The budget has already been finalized from the Office of budget responsibility (OBR)

    what are your hopes for this years budget

    do u care at all

    will it affect you

    will u be watching or not

    what are your thoughts on this
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    (Original post by 01jtiong)
    This Wednesday Chancellor george Osborne will read/announce the annual budget to the house of commons and will reveal how much the UK has spent and how much will be needed for the UK

    The budget has already been finalized from the Office of budget responsibility (OBR)

    1. what are your hopes for this years budget

    2. do u care at all

    3. will it affect you

    4. will u be watching or not

    5. what are your thoughts on this
    1. Hope that the government has come up with a decent plan to save the UK from economic death.

    2. Yes.

    3. Most likely.

    4. I'll try to, but I probably won't be able to, so I'll record it.

    5. Thoughts on what? :confused:
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    I would like to see:
    - Income tax halved
    - All taxes and duty on petrol to be withheld and price frozen at 50p/l for 5 years
    - Road tax abolished
    - Money into the NHS tripled
    - Student loan debt to be paid off for every student by the government
    - All taxes on alcohol removed
    - VAT slashed to 0%
    - 0% Interest on all mortgages for 10 years for first time buyers
    - All chocolate made free on the NHS to me for 'medical reasons'.

    Am I going to see this?

    No
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    (Original post by Rybee)
    I would like to see:
    - Income tax halved
    - All taxes and duty on petrol to be withheld and price frozen at 50p/l for 5 years
    - Road tax abolished
    - Money into the NHS tripled
    - Student loan debt to be paid off for every student by the government
    - All taxes on alcohol removed
    - VAT slashed to 0%
    - 0% Interest on all mortgages for 10 years for first time buyers
    - All chocolate made free on the NHS to me for 'medical reasons'.

    Am I going to see this?

    No
    lol
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    (Original post by Rybee)
    I would like to see:
    - Income tax halved
    - All taxes and duty on petrol to be withheld and price frozen at 50p/l for 5 years
    - Road tax abolished
    - Money into the NHS tripled
    - Student loan debt to be paid off for every student by the government
    - All taxes on alcohol removed
    - VAT slashed to 0%
    - 0% Interest on all mortgages for 10 years for first time buyers
    - All chocolate made free on the NHS to me for 'medical reasons'.

    Am I going to see this?

    No
    Rybee for PM?
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    I'll definitely be watching it - if nothing else, it's directly relevant to my job, though I'm interested from a personal point of view as well. The Budget announcements affect all of us to a greater or lesser extent so I certainly care. I'll likely pay closest attention to the announcements relevant to business as I'll need to know the details of many of these for work - rumours of (yet another) cut in corporation tax will be interesting to see play out, as well as details of already announced changes, such as those to R&D relief and a potential General Anti-Avoidance Rule.

    In terms of what could affect me personally and being realistic, I'd like to see the 3p fuel duty rise due in October cancelled (or at least postponed) - though latest predictions are that this is unlikely - and I'm interested to see whether the income tax personal allowance gets raised any faster than currently planned. I can see the 50p "additional" income tax rate coming down to 45p - and that might mean that it stays in existence for longer - though I still thing scrapping it would be the best course of action overall.

    Will we see some form of 'mansion tax' actually come to fruition, I wonder? If so, it could be in any number of different forms - another Stamp Duty band, via council tax (probably unlikely given that revaluations would be needed), or something else entirely!
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    I normally watch, I also normally have high blood pressure after watching no doubt this year will be little different.
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    I hope the higher income tax band stays at 50% and capital gains falls. Completely self interested mind.
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    Will be watching it very keenly as there are many business decisions that I'd need to make...extremely curious and anxious about what the GAAR is going to be and how much of it would be retrospective.

    Hoping there will be some goodies too for new entrepreneurs and small businesses or those who want to start small businesses, actually I already know there will be some but am hoping the final details to it would be even more generous than previously hinted.

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