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Budget Day 2013 is next Wednesday (20 March) - what do you want Osborne to say? Watch

  • View Poll Results: What ONE thing do you want Osborne to announce? (Mixed bag - no offence intended!)
    A jobs guarantee for long-term unemployed young people
    13.21%
    Reinstate EMA in England (like Scotland, Wales, NI...)
    3.77%
    Commitment to maintaining public spending cuts and getting deficit down
    15.09%
    More Government spending on investment to stimulate growth
    22.64%
    A U-turn on minimum alcohol pricing
    1.89%
    Commitment to building more affordable new homes
    3.77%
    Maintain spending on overseas aid and development
    0
    0%
    Cut spending on defence
    16.98%
    Lower the VAT rate
    22.64%
    Other (please tell us about it below)
    0
    0%

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    UPDATE:

    Budget 2013: After the fun comes the briefing!

    A very lacklustre Budget this year, particularly for young people, single people and students. There was no discussion of spending on higher education. We knew that schools spending would be ringfenced.

    Here are the key headlines...

    -The overall theme of the Budget was “Aspiration Nation” and much of the Chancellor’s speech was given over to speculation on deficit reduction. We were told that the deficit is falling – it stands 7.4% this year, and is expected to fall to 2.2% by 2017 (but no promises). Remember, this is different to national debt.

    -The Government is committed to spending 0.7% of GDP on international aid.

    -The personal allowance will be increased to £10,000, lifting some low-income or part-time workers out of tax.

    -For those of you that drive, fuel duty will be frozen for three years from Sept 2013.

    -For those with children and who are in work, the Government will introduce a tax-free childcare scheme providing 20% of childcare costs up to £1,200 per year. This applies to those families who are included in income tax, so you will have to be earning more than £10,000 per year.

    -The Government will also increase childcare support within Universal Credit – though minimal details on how this will happen.

    -Changes to pensions were announced – the Government will introduce the single-tier State Pension in 2016-17, which will ensure fairness in pensions between men and women. More details over at Which.

    -Social care costs will be capped at £72,000 (and the Goverment will extend the means test to give more people access to financial support for their residential care costs from April 2016). So older people are more likely to be able to leave savings to families rather than paying for residential care costs.

    -Beer duty reduced by 2% - so a pint of beer will be 1p cheaper from 25 March 2013.

    -“Help to Buy” will be introduced for those wanting to own their own home. It will include:

    First Buy – the Goverment could provide a loan of up to 20% of the value of your first home and this will be paid back by the equity (increase in value) that the house has earned by the time you sell it. If you don’t sell the house after 25 years, you pay the Government back.

    Mortgage guarantee – for those with smaller amounts of savings for deposits. Mortgages will be guaranteed for those who have savings of between 5 and 20% for a deposit on a home worth up to £600,000.

    -More money will be available for investors who wish to build affordable homes – an additional £225 million will be added to a pot of the same amount by 2015.



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    There's already some interesting Budget speculation going on at the moment:

    http://www.timeshighereducation.co.u...002357.article
    http://www.bbc.co.uk/news/business-21755034
    http://www.bbc.co.uk/news/business-21735280
    http://www.which.co.uk/news/2013/03/...nounce-313641/
    http://blogs.spectator.co.uk/coffeeh...isappointment/

    What do you want to hear the Chancellor announce on Wednesday? Ideal world and realistic scenarios are both acceptable
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    -Radical change in the BoE's mandate.
    -More capital spending, R&D investment.
    -More cuts to defence and welfare (especially pensioner benefits).
    -Lower NI, higher VAT, higher PA.
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    This is what I want Osborne to say:

    Sorry, we have concentrated too much on sound bite politics and not enough on actually trying to execute our plan in an efficient manner. In our defence we saw how the public liked this sort of approach under the last government and thought we could emulate their approach, all spin no substance, however we now appreciate we are nowhere near as good at spin as they were and our partners are a walking PR disaster.

    In future when we implement policies we will concentrate on getting them working before we think up any other wonderful ways to disrupt your lives.

    So, to kick start the economy we are going to ensure that some of the funds we have committed to our good friends in the banks actually get lent to the business entities within our economy who cannot raise funding through the issue of quoted shares and are dependant upon banks for their latent expansion plans. We will do this by being less anal in the short term on capital adequacy rules and encourage them to lend. This we will achieve by threatening underperforming banks ,where we hold shares, (Lloyds/RBOS) that if they do not do as we ask we will wreck their share price by selling chunky parts of our holdings in the market, see what that does to the board's share option schemes.

    We will use the proceeds of these share schemes to employ a vast army from the unempolyment register to fill all the holes in our roads, this may be detrimental to those companies who fit shock absorbers etc but it is the right thing to do (there are votes in it)

    We will stop councils building any more speed bumps, the last twenty years has seen the average height of the UK increase, and we could argue that we have been doing this to reduce flood risk, but as we can't spin we don't think you will believe this.

    Other than the above we are going to do nothing, our problem is that the opposition have no good ideas we can steal and we just have no imagination.


    What he is going to say, paraphrased:

    I have no spare cash to really do anything so I am going to tinker at the edges of tax, get a few good soundbites in on aviodance, say a few more things that only 10% of the public actually understand, and then I can get back to sitting in my office with crossed fingers hoping that some external factor over which I have no control ,but which I can take credit for, will bail us out of this mess.
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    (Original post by DJKL)
    This is what I want Osborne to say:

    Sorry, we have concentrated too much on sound bite politics and not enough on actually trying to execute our plan in an efficient manner. In our defence we saw how the public liked this sort of approach under the last government and thought we could emulate their approach, all spin no substance, however we now appreciate we are nowhere near as good at spin as they were and our partners are a walking PR disaster.

    In future when we implement policies we will concentrate on getting them working before we think up any other wonderful ways to disrupt your lives.

    So, to kick start the economy we are going to ensure that some of the funds we have committed to our good friends in the banks actually get lent to the business entities within our economy who cannot raise funding through the issue of quoted shares and are dependant upon banks for their latent expansion plans. We will do this by being less anal in the short term on capital adequacy rules and encourage them to lend. This we will achieve by threatening underperforming banks ,where we hold shares, (Lloyds/RBOS) that if they do not do as we ask we will wreck their share price by selling chunky parts of our holdings in the market, see what that does to the board's share option schemes.

    We will use the proceeds of these share schemes to employ a vast army from the unempolyment register to fill all the holes in our roads, this may be detrimental to those companies who fit shock absorbers etc but it is the right thing to do (there are votes in it)

    We will stop councils building any more speed bumps, the last twenty years has seen the average height of the UK increase, and we could argue that we have been doing this to reduce flood risk, but as we can't spin we don't think you will believe this.

    Other than the above we are going to do nothing, our problem is that the opposition have no good ideas we can steal and we just have no imagination.


    What he is going to say, paraphrased:

    I have no spare cash to really do anything so I am going to tinker at the edges of tax, get a few good soundbites in on aviodance, say a few more things that only 10% of the public actually understand, and then I can get back to sitting in my office with crossed fingers hoping that some external factor over which I have no control ,but which I can take credit for, will bail us out of this mess.
    Sad but true...


    Though I'd much rather the lacklustre Cameron and Ossborne than Labour's dreadful double Ed's
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    Interesting question..

    Unfortunately given the current climate and the politics of the situation there is almost no chance of extra borrowing or any real tax cuts so it's a tweaking and cutting more affair such as the policies below...

    I'd like to see a slowing of the spending cuts with an aim of 2020 rather than five years.

    I'd like to see a ring fence of health and education stopped and no further defense cuts (this won't happen because of the politics though).

    Tax incentives for shale gas exploitation.

    All benefits means tested including for pensioners.

    £1bn technology fund (high tech firms - loan conditions).

    £1bn 'green' affordable housing fund (solar panels and ground source heat pump on each home sold at no more than postcode average).

    Pooling of local government pensions and one off bounties into a sovereign wealth fund.

    .....

    So the primary measures that get money to cut the deficit are the education and health cuts (though not sure how much) in addition to pensioner welfare cuts which could easily pay for my other measures.

    In the longer term (2020-2030) our goal should be to see the income tax threshold raised, NI abolished and vat reduced to 12.5%.

    ....

    He should also raise taxes on tobacco and alcohol.
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    Lower VAT - it regressively affects the poor. WE ALSO NEED TO STIMULATE CONSUMER SPENDING - LOWERING BACK DOWN AGAIN WOULD INCREASE CONSUMER CONFIDENCE. Your not going to get people of cigarettes and alcohol by raising prices; its part of a culture. A u-turn on minimum alcohol pricing.

    KEY: HUGE DEFENCE CUTS NEEDED. We are no great power. We have NATO. No more pleasing Conservative backbenchers. Stop going on about reducing aid (except partially with Indian government) when there are those poorer than us - we need to grow as a soft power rather than pretend we need military reinforcements.

    Defence is the place we need to make cuts.

    Stop making such heavy public-spending cuts for all non-pensioners. Realise, please, MONETARISM DOESN'T WORK - by reducing public spending, they are increasing or maintaining high unemployment and so the amount on benefits all. Just as under Thatcher where public expenditure actually rose!

    Though those who are rich pensioners (not all) don't need such money - I go to Norfolk every year and see thousands of them on golf courses and then thousands more go on cruises everywhere. Though being generalised, it depresses me.
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    I'd personally like to see more Government spending to stimulate growth.
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    (Original post by noahharley)
    KEY: HUGE DEFENCE CUTS NEEDED. We are no great power. We have NATO. No more pleasing Conservative backbenchers. Stop going on about reducing aid (except partially with Indian government) when there are those poorer than us - we need to grow as a soft power rather than pretend we need military reinforcements.

    Defence is the place we need to make cuts.
    Except we are a great power. This trend for rampant self-deprecation is disgusting, the way some people go on you'd think the UK was a fifth-world slum wasteland in Africa.
    What's NATO got to do with anything? You want us to freeload off of the Yanks and French, have them responsble for our defence? You severly overestimate half of Europe if you think NATO is operating at an adequate level.
    Defence has already been slashed massively, anymore will all but destroy our aerospace and defence industry, which is pretty much the last remaining hi-tech manufacturing we have. BAE have already been forced to shut down factories and move production lines abroad. I love how people bang on about manufacturing and rebalancing the economy, but then advocate funding that by destroying it. Defence spending is as good an economic stimulus as it gets.
    The reason the backbenchers keep going on about aid is because it's horribly inefficient and causes more problems than it solves. If you really want to help poorer countries, teach them effective governance and tax collecting, don't just throw heaps and heaps of cash at them and turn them into useless pandas reliant on aid.
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    It's happening...! http://www.bbc.co.uk/news/uk-politics-21851454

    And already we can barely hear the Chancellor over the shouting.
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    Osborne's speech has just started, but apparently the details have already been leaked by the Standard...


    http://www.businessinsider.com/it-lo...-budget-2013-3

    Details revealed include:
    - Duty on a pint of beer will be cut by 1p
    - A 3p rise in fuel duty due in September will be scrapped.
    -The UK economy will rise by only 0.6% in 2013
    -Borrowing will be £61 billion higher than planned over six years.
    -The national debt will not start to fall until 2017/18.
    -Whitehall departments will have to cut by £3 billion, more than thought.
    - Pay freezes for public sector workers will be extended
    http://www.telegraph.co.uk/news/poli...-scrapped.html
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    Interested to see Right to Buy brought back for Londoners. Not sure how I feel about that... On the one hand I'd love to be able to buy property and can only welcome help for others to do so.

    On the other hand Right to Buy appeared to have an influence in eroding some communities when properties were basically passed over to private landlords... Hmm.
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    Not sure if George Osborne is trolling us or not?
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    Stop giving overseas aid, that's like a quarter of our debt wiped out.

    Why on earth are we giving overseas aid though, we're hardly seeing the effects.
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    (Original post by shooks)
    - Pay freezes for public sector workers will be extended
    Ouch. My mum and dad are both public sector workers and have not seen a rise in years and competition for promotions is fierce.
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    Evening Standard political editor has tweeted an apology for stealing Gorgeous George's thunder...



    Attachment 203695
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    Someone is definitely getting fired over that gaffe...
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    Britain open for business... Would like to hear more talk about visa laws and how they fit into that plan.
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    I went for reduction of vat, the spending poll tax. Realistically the Tories never reduce VAT, in fact they increase it everytime they resume power, it's their way of ringfencing any tax hikes on the rich.
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    The last thing we need is more government spending. We got drunk off that premise and are now feeling the hangover.

    Government is terrible at spending other people's money. Return that privilege to the individual who knows best.
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    This one seems like the biggest deal for most people so far:

    From Twitter:

    Robert Peston @Peston
    Osborne to stimulate housebuilding - Treasury to give equity loan of 20% to cover deposit on anyone buying new house
 
 
 
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