Autumn Budget

Apologies if there is already a thread for this but I couldn't seem to find one.
What are people's thoughts/expectations ahead of the Autumn budget on the 30th of October?
Here's a BBC article that provides some good context: here
I'm slightly apprehensive about it, but public finances are in a mess, and they do need sorting out.

Ah ha tax rises and spending cuts, like we haven’t see this before…
Tories 2.0, I wield some responsibility for having voted for them.
I’m also against inheritance tax (the other taxes are fine but I’m against the mere concept of inheritance tax).

I mean we can't really expect much from Labour (neither with the Conservatives had they won) - but I'm not persuaded that Reeves and Starmer really know what they're doing.

As with inheritance tax, I think it should be there, but at 30% maximum, and a flat rate - ie. money inherited between £0 and £325000 should be liable for inheritance tax. As a concept, it's wrong, but it's a great way to generate funds for public services, but better than increasing income tax, National Insurance or VAT.

Yeah for me it’s the concept that’s the issue, not simply the high tax itself.

May I ask in what sense? I sort of understand the point of it: unearned money should be taxed, especially as earned income is.

Just not a fan of the idea of taxing inheritance or if you do tax it then it shouldn’t be optional (not exempt for anyone receiving over a certain amount).

When is inheritance tax optional? I might’ve misunderstood you, sorry.

King Charles is/was exempt for example. I don’t think that this should be the case, he should be made to pay it like any ordinary citizen would be.

Ah ok - that would be billions of tax that he'd pay. Great, but the UK is too 'clingy' to the monarchy to do that.

King Charles is/was exempt for example. I don’t think that this should be the case, he should be made to pay it like any ordinary citizen would be.

I don't think people like the King are exactly representative of the public at large, or should be the people we're basing our views on taxes off of. Moreover, in his precise case, I think it's a bit more complicated given lots of the main properties are technically state buildings and he is the head of state so.....

Granted, he has a lot of private wealth though. But again, it's not exactly you're run of the mill tax case, given lots of it will be in trusts and so on.

Yes but I don’t think that he should be exempt regardless.

I'm not saying he should be exempt. I'm only really saying that, in a thread about the budget, focusing on the king's inheritance tax is a bit niche and only very tangentially related to the Budget.

I don't think you'll really have anyone disagreeing that the very rich shouldn't be able to avoid certain taxes. Unfortunately, implementing such policies are easier said than done.

They talked about inheritance tax and I’m personally against inheritance tax in general however if you are going to charge it, then charge everyone, don’t have exemptions.

They talked about inheritance tax and I’m personally against inheritance tax in general however if you are going to charge it, then charge everyone, don’t have exemptions.

Why are you against inheritance tax specifically?

I do find the focus on inheritance tax interesting given it only applies to roughly 3-4% of the population and only accounts for ~1% of tax revenue. By every metric it's a very minor tax that seems to generate significant discussion.

I’m against the concept of it. I’m against taxing inheritance (one of the few instances where I’m against taxation, most other forms of tax I’m fine with providing that the tax gets used properly and that we crack down on those trying to dodge taxes when they shouldn’t be).

Sure, I was asking why you're against the concept of inheritance tax.