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Budget 2016 Offcal thread watch

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    Typical. Gives with one hand, takes far more with the other. 'Have a few pounds and look the other way while we turn every school into an academy and abolish any oversight of the education system.'

    Token gestures at the poor, huge savings for corporations. He's very clever though, I'll give him that.

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    Allowances for disabled people are cut but international aid is guaranteed?


    Dear God I thought Corbyn was the idiot in politics but it turns out to be Osbourne.


    First he talks about the UK economy being so flourishing and in the budget he does nothing but slash. I wonder if he's high when he does the budget
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    fantastic budget
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    (Original post by TheDefiniteArticle)
    Also, 'Official'. At least get the thread titles right.
    I believe that's the State Calcium Regulator.
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    (Original post by RayApparently)
    I believe that's the State Calcium Regulator.
    Hm. That's Ofcal, so he could have misspelt that as well I suppose haha.
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    Corbyn's response was pretty good actually and by far the most comfortable he's looked at the dispatch box.
    Pulled Osbourne up on his broken promises and lies to good effect.

    Don't want him as labour leader but credit where it's due.

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    (Original post by democracyforum)
    Sugar does not cause tooth decay.
    Phytic acid from grains does.

    Sugar does not cause obesity.
    Oils like sunflower oil, corn oil, cottonseed oil, vegetable oils cause it instead of consuming butter and coconut oil .

    We need a sunflower oil tax
    I'd rather they ban content of fat/sugar/salt above certain amount except certain exempt products like say cheese.

    It's so difficult to eat the right stuff especially if you don't cook from scratch that they could legislate on a basic level that you can't have more than g grams of salt per 100g of food/drink


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    I strongly support The sugar tax so credit for that. That's about it though.


    The worse thing is the academies which have been shown time and time again to be a fantastic way to p*** money away whilst not doing anything to improve standards.

    I think freezing corporation tax would be bettter
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    Good to see that the Government has backed the sugar tax, an evidence-based, bipartisan proposal which is highly likely to reduce obesity rates and raise some extra funds. A further clampdown on tax avoidance is also welcome, but doesn't go far enough at all.

    But, all in all, a dismal budget. More tax cuts for the relatively well-off, and further cuts to corporation tax. Cutting taxes is all very well if you raise more revenue from it (which only occurs in limited circumstances), but these tax cuts simply can't be justified when billions in further unnecessary spending cuts are being introduced. Like the Republicans in the United States, the Conservatives claim to care about "balanced budgets" until they have an opportunity to cut taxes for the well-off.
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    (Original post by Davij038)
    I strongly support The sugar tax so credit for that. That's about it though.


    The worse thing is the academies which have been shown time and time again to be a fantastic way to p*** money away whilst not doing anything to improve standards.

    I think freezing corporation tax would be bettter
    That and the whole taking money of disabled people are the worse bits. It's like PFI all over again.

    (Original post by MrsSheldonCooper)
    Allowances for disabled people are cut but international aid is guaranteed?Dear God I thought Corbyn was the idiot in politics but it turns out to be Osbourne.First he talks about the UK economy being so flourishing and in the budget he does nothing but slash. I wonder if he's high when he does the budget
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    (Original post by Bornblue)
    Corbyn's response was pretty good actually and by far the most comfortable he's looked at the dispatch box.
    Pulled Osbourne up on his broken promises and lies to good effect.

    Don't want him as labour leader but credit where it's due.

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    The Tory voters who have not fallen to far down the "lets punish disabled scroungers" hole know this is what you get with Tories. But they are good with the economy and are a necccity. Labour might be nice and all but their polices wont work and we will be in even worse mess, including the poor. Plus there is the selfish factor of paying less tax.

    JC didn't attack the rational behind the budget. Osbrone has failed by his reference of measurement, debt is increasing and the economy is not doing what the Tories say it is doing. Until labour can destroy or find a new narrative that can combat the "labour spend too much and create deficits" Tory narrative then labour are doomed. No amount of pointing out how unfair the Tory budget is will work.
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    I thought it was a decent budget, but I worry about the next budget when the government makes the real cuts.
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    (Original post by Rakas21)
    April 2017 ISA limit becomes £20k.

    Pensions/House lifetime ISA can save £4k per year with a 20% government contribution.

    Moving to a US 401k scheme.

    ..

    Very pleased. A budget for would be savers.
    Personally those measures do nothing useful. I could just about save £15k/year at a real push but not £20k.

    I have a house and get 40% tax relief on pension contributions.

    Only possibility is if I could but the lifetime isa under an offset mortgage... then maybe itd be useful...
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    (Original post by ChaoticButterfly)
    The Tory voters who have not fallen to far down the "lets punish disabled scroungers" hole know this is what you get with Tories. But they are good with the economy and are a necccity. Labour might be nice and all but their polices wont work and we will be in even worse mess, including the poor. Plus there is the selfish factor of paying less tax.

    JC didn't attack the rational behind the budget. Osbrone has failed by his reference of measurement, debt is increasing and the economy is not doing what the Tories say it is doing. Until labour can destroy or find a new narrative that can combat the "labour spend too much and create deficits" Tory narrative then labour are doomed. No amount of pointing out how unfair the Tory budget is will work.
    Labour needs a new alternative and a new vision for sure. Perhaps 'blue labour' under John McDonnel could be the way.
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    (Original post by Rakas21)
    2017 sees £11,500 and £45,000 tax thresholds.
    Or £43k in Scotland
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    (Original post by Quady)
    Personally those measures do nothing useful. I could just about save £15k/year at a real push but not £20k.

    I have a house and get 40% tax relief on pension contributions.

    Only possibility is if I could but the lifetime isa under an offset mortgage... then maybe itd be useful...
    These things aren't designed to primarily help homeowners who can save 15k a year lol


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    (Original post by paul514)
    These things aren't designed to primarily help homeowners who can save 15k a year lol


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    Who is the 20k isa supposed to help then?

    Who is the lifetime isa supposed to help given the help to buy isa and pensions?
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    The OBR have said there is a £56 billion black hole in the budget and Osborne will only eliminate the deficit by 19/20 by using the sort of creative accounting that Gordon Brown was so good at. This is the guy who promised to eliminate the deficit in 2015 before facing and moving the goalposts, so I wouldn't expect anything less.

    I do like the sugar tax though, although the devil is in the detail and we don't know the details yet.
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    (Original post by Quantex)
    The OBR have said there is a £56 billion black hole in the budget and Osborne will only eliminate the deficit by 19/20 by using the sort of creative accounting that Gordon Brown was so good at. This is the guy who promised to eliminate the deficit in 2015 before facing and moving the goalposts, so I wouldn't expect anything less.

    I do like the sugar tax though, although the devil is in the detail and we don't know the details yet.
    Having read the article they point out that the hole only exists before Osbourne brings forward some revenues. Nothing too bad about that.
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    Overall it was a very good budget ! The soft drink tax came as a surprise but is welcomed
 
 
 
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