Budget day WAS it good for you?

[getvisible]

Tweet

Aye - fill it in later on today but you can discuss what he's going to do before hand.

Personally I expect a hand trick, he'll flash you with something great in one hand whilst the other swiftly takes a wad of notes out of your wallet.

So we expect some doings with dividends.

Last year he rasied NI post £30k earnings.

I expect there'll be something to do with the housing market - he'll probably fiddle with stamp duty. He'll want to get on the right side of first time buyers but would want to prevent people fiddling any scheme he put in operation.

He's got a history of making life more difficult for small businesses so lets wait and see.

What do you think he'll do?

[ianm]

Well if anyone want's proof that some people just vote randomly on these polls here we have it.

It's still hours away from Brown even starting his statement and apparently two people already know how the budget has effected them!

Think you're probably right re the dividends Lee, probably the NI on them that most accountants seem to be expecting.

Stamp duty, I think he'll pobably hit the higher values enough to be able to make some cash and also cut a bit of the lower bands.

And I'm sure the smokers, drinkers and car drivers will suffer increased tax.

[tomj]

well it was me who voted the first time for :

^%&ing runt etc etc

because which ever way you turn you get shafted!

give with one hand take with another.

why bother to watch/listen today, just pull your pants down bend over and brace yourself.

IMHO

[ianm]

That's true tomj.

I was more interested in the person who already knows that they've had a good budget!

Perhaps they would like to tell us how they've benefited, so we can benefit from the same tax breaks Or perhaps Gordon himself has been here and voted.

[Mogga]

beer up 1p per pint
cider and sparlking wine no change.
Did he say 4p on a bottle of wine?

Given the banging on about the crisis on Britain's streets at the moment I'm pretty surprised they've not done more financially to prevent the chronic binge drinking situation.


and only 8p on a pack of cigs?

[getvisible]

Employer Training Pilots will be extended to the North East, Lancashire, the Black Country, Devon and Cornwall, Cambridgeshire and West Yorkshire, the chancellor said.

Mr Brown announced a New Deal for Skills which will guarantee every adult an opportunity to gain Level 2 skills.

Mr Brown said the government was announcing a 10-year framework for medical science. By 2008 the budget for medical research and research development within the NHS will approach £1.2bn each year.

The spending review will provide for real terms growth in transport in the country, Mr Brown said, rejecting calls for spending on housing, local government and services to the elderly to be frozen.

Mr Brown said he proposed real terms increases in defence spending.

Mr Brown said investment was affordable, fully financed and linked to reform.

Mr Brown said the NHS will receive a real terms rise of 7.2% each year until 2008.

The Inland Revenue and Customs and Excise announcing a gross reduction of 14,000 staff, redeployment of 3,500 staff and an overall reduction by 2008 of 10,500 staff.

The Department of Work and Pensions is announcing from today a reduction of 40,000 staff posts, a redeploymnet of 10,000 posts to new priorities and an overall reduction over four years of 30,000 posts, said Mr Brown. Staff numbers falling from 130,000 now to 100,000 by 2008.

Mr Brown said he hoped all MPs agreed with the long term case for investment in education, science and enterprise. It was the duty of the whole nation to put short term considerations second.

Mr Brown said the choice in this Budget was whether to cut tax rates or continue a programme of rising public investment in order to keep the country stable, secure and economically strong.

Mr Brown said the government will not freeze or cut all international development aid.

Mr Brown said until March 2006, churches and sacred places will be able to reclaim all 17.5% of VAT.

Mr Brown said duty frozen on spirits, but the cost of a packet of cigarettes will rise by 8p.

1p on a pint of beer, 4p on a bottle of wine, duty frozen on cider and sparkling wine, said Mr Brown.

British film makers to get 20% tax relief, said Mr Brown.

Mr Brown said from 1 September fuel industry will be moving to sulphur fuel, so he will be delaying the annual rise in fuel duty for six months.

Mr Brown said the government will relocate out of Whitehall a total of 20,000 public services jobs.

From 1 April, firms with turnovers under £58,000 will not have to register for VAT and 13,000 businesses will be eligible to benefit from simplified VAT accounting.

Mr Brown said he will exempt more estates from inheritance tax, raising the starting point for tax to £263,000.

Mr Brown said he will freeze rates on the aggregates levy, betting duties and stamp duty.

Mr Brown said he would freeze rates on tax and capital gains tax, air passenger duty, insurance premium tax, on vehicle excise duty and the climate change levy.

Mr Brown said the priorities for this country were to entrench stability and ensure and enhance security.

Unemployment is costing the UK £3bn a year less than in 1997, said Mr Brown.

Mr Brown said debt was lower than Britain's competitors and that was why he was able to afford all the country's existing commitments in Iraq and Afghanistan.

Mr Brown said net borrowing this year and in future years to 2008-9 is as a percentage of GDP 3.4%, 2.8%, 2.5%, 2.1%, 1.9% and 1.6% of GDP.

Debt this year is 33% of national income and should be kept below 40% of national income, said Mr Brown.

Mr Brown said he aimed to keep the debt to GDP ratio low and stable while balancing the current Budget, allowing Britain to borrow for investment. These rules have been tested and have succeeded at every stage of the last two economic cycles, he said.

Mr Brown said it was right for Britain's unemployed to move from welfare to work and for the level of pensioner credit to rise.

Mr Brown said it "must be in the interests of the whole country" for the environment to be safeguarded, there to be more affordable housing and low interest rates.

On housing, Mr Brown said the government accepted the recommendations by economist Kate Barker in relation to the rented sector.

Growth forecast for 2005 is 3-3.5% and 2.5-3% in 2006, said Mr Brown.

Inflation is expected to be 1.75% this year and 2% next year and the year after, said Mr Brown.

Mr Brown said imports and exports are expected to grow by more than 5%.

The chancellor said: "Britain is closer to full employment today than for a generation."

Mr Brown said that growth came together with low inflation, low interest rates and low unemployment.

Mr Brown said Britain had met his forecast economic growth target of 2.3%.

Mr Brown said to become a world economic leader, Britain must make the necessary investment in science, education and enterprise.

Mr Brown said Britain's global reach was "wider than almost any other country".

The chancellor said Britain was enjoying its longest period of sustained economic growth for 200 years.

Mr Brown said since 1997 Britain has sustained growth through two economic cycles without suffering the "all British disease of stop go".

Mr Brown said the purpose of his Budget statement was to lock in the economic stability "that can and will endure".

[getvisible]

basically gordon's borrowing an extra £15bn so he doesn't have to raise income tax now so he gets elected and will have to raise taxes if you re-elect him!