The Emergency Budget

A-Vic

So whats your take on it?

Personally i dont think its as bad as it could have been, yes we will all pay out more in the rise in VAT but it was bound to happen after the cut in 2009.

The housing beneifit capped at 400 good grief yes totally agree.

Good news for businesses with reduction in tax, capital gains (ouch)

Tax credits cut for famlies on 40,000 per year - (call me wrong but thats rediculas anyway call me wrong but i feel a family on that amount claiming beneifits its wrong anyway, why someone on my wage is subsadising someone on that wage)

Overall i dont think it was as bad as the hipe made out.

After all after working it out i will be better off around 275 per year (not including the rise in VAT)

Ok your turn what do you think!

fatandforty

I agree it wan't half as bad as they made out it would be. But then again do they do that on purpose so we are relieved with what they actually do??!!

Personally am pleased no more rises in cider :-) Pleased with the slight reduction in corporation tax over the next 4 years. Completely agree with the slash in benefits. And as for the increase in VAT I feel it's far better than taking extra PAYE from peoples wages. At least you can choose whether or not to make (If you can afford) a purchase!

tigger37

Emergency Budget

Personally, I am better off, but I have one big worry.
Both my son and I get DLA as we are severely deaf. I worry that these medicals they will make people have will suddenly declare me with perfect hearing, even though I am deaf as a doorpost!
The only thing good about the DLA review is that there are some people who abuse the system.....but I'm not one of them.

stevef

There are some real dangers in this emergency budget.

VAT is a regressive tax where increases impact on low income groups in a bigger way than on high earners, linking the VAT increase with decreases in social benefits will cause some great difficulties.

The emergency budget outlines an average 25% cut in public spending over the next four years. The UK economy is fairly fragile at present and in such times usually looks to public sector spending to stimulate it and create employment. Such a drastic cut may spark off a second dip in the economy. However, halfing the national debt quickly will create a strong economy and therefore the gamble may pay off.

The public spending cuts are just a quoted overall figure at the moment, it is not until the completion of the Comprehensive Spending Review in October will we know the impact of the cuts on individual government departments and on local government. It will be soon after this that we will know what cuts in services are being planned. I think as individual announcements of reduced services are made there will be protests. As individual services are protected from the cuts other services will have to be cut more, causing more complaints.

We have not seen the full impact of the emergency budget yet, there are some very difficult decisions to be made on where to make the cuts! what would you cut? Education; Social Services, Emergency services (Police and Fire); Transport and Roads; Social housing; defence; Overseas aid; Leisure and Arts; Sport development etc etc.

A-Vic

will have to wait for the spending review for that but hey we all know we will be worse off -heck my town has to find 50 million from somewhere too and we have also lost our promised tram and town regeneration for the 5th time in 5 years (o and note our town has the higest in the country shops shut) one in every 5 are closed the national average being one in ten

CJC

And the funny thing is that there is no real emergency, well not until the rise in VAT and the ideologically motivated slashing of public services send the economy spiralling back into recession.

There is no logic to the brutish cuts that George Osborne is proposing - Will Hutton
Beware politicians moralising on the sin of indebtedness - Will Hutton
21st century depression - Paul Krugman

stevef

The level of cuts announced by the coalition government will result in a significant reduction in public services. I am aware that until the comprehensive spending review we do not know where the cabinet think these cuts should be.

But I am interested in your views - if you were the PM, which services would you cut and which, if any, would you protect from the cuts?

PGM

A-Vic wrote: »

The housing beneifit capped at 400 good grief yes totally agree.

400 a month?

A-Vic

400 a week

PGM

PGM wrote: »

400 a month?

Just googled it and it says 400 a week, what the...

Thats 4 times my mortgage, still a little generous?!

A-Vic

i know considering over a third of my wage alone goes on rent and council tax. Dont get me wrong i know rent levels across the country are very different but thats extrem and on the verge of rediculas