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Reeves Budget
Reeves Budget
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Replies: 151
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I hope it works. It is one element of the budget.
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I hope it works. It is one element of the budget.
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Reeve tells Martin Lewis that state pension will
remain tax free over course of this parliament. So obviously plans to raise allowances, at least for pensioners. Odd to tell Martin Lewis, and not announce in budget. Hey ho, |
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https://www.mirror.co.uk/news/politics/skint-pregnant-mum-four-budget-36309267
Pregnant mum-of-four: 'Budget benefit change saved our Christmas' Claire-Marie Bray, 27, unemployed, Nuneaton: Mum-of-four Claire-Marie and her partner Kieran receive Universal Credit and have struggled to make ends meet with £200 a month for her family of six with another child on the way. Labour's scrapping of the child benefit cap from April next year means "absolutely the world" for Claire-Marie's family who top up food shops with visits to the food bank. An with Christmas around the corner, the boost could mean treating the family as well. "It will help massively," Claire-Marie said. "I've had to shop in charity shops for the bare basics for Christmas and we can now get something a bit nicer as well as a nice quality Christmas dinner. It would mean the world to me to see their little faces...it will be a magical Christmas. " She told The Mirror: "Even an extra £50 a month would help. With the kids getting older they need more stuff and bigger clothes. My 6-year-old, she's nearly 7, is having a growth spurt here and there, so it [the benefit cap being scrapped] would mean absolutely the world really." The lifting of the cap also means the family would be able to move toward clearing debts that have drained between £100 and £150 from the family's monthly finances. "It's the constant worry of bailiffs coming to the door, they've come into the house and seen what goods we've got," she added. "Luckily we've been able to sort out a payment plan but it's that dread of 'are they going to come to the house or not?'" "We are in debt with the gas and electric so that would definitely help. With having kids in the house, we've tried to keep the house as warm as possible." Claire-Marie and Kieran have set up a GoFundMe to support their family, which you can visit here. Thea Jaffe, 40, single parent, North London: Thea works full-time in client solutions but says the two-child limit was pushing them into poverty and taking a toll on her mental health. She added: "Rachel Reeves really did save the best to last. I was waiting in suspense for the entire time. It was so emotional, I burst out crying. Now every child will be equal and not punished for their family’s situation. This isn’t just a win for children but women too." In a good month when UC gives full entitlement, Thea has a total of £6,142.00, from £2,800 in take-home pay and £3,342 in universal credit plus child benefit. Her monthly expenses such as childcare, rent, council tax, energy and food etc are usually around £6000. She says: "So it’s living very much on the edge." Thea welcomed the Budget changes, saying: "Women and their rights have also been acknowledged, like removing the rape clause in the two-child cap. We need to change the narrative. These policies have just been adopted through Governments, using poverty as a threat, blaming the most vulnerable. “This really is a step in the right direction. It will mean I don’t have to worry if I need to call a taxi to take my child to A&E, it’ll mean I can spend a weekend with children without worrying and just being present. It’ll mean I can buy winter clothes or buy my son a bike so he can get to secondary school next year. When Rachel Reeves talks about a fiscal black hole - I know what that’s like, it’s my life. “To live in the UK and to keep up with some standard of care, you need a financial cushion, or you just end up falling behind. But I want to ask the Government what is next, I expected this to happen when the Government came into power. Why has it taken so long?” |
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Financial stress like that is a scourge. However, is it hard-hearted to suggest that a measure of family planning might have been prudent. Another child on the way doesn’t really suggest a fear of bailiffs coming to the door. Does it?
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Her monthly expenses such as childcare, rent, council tax, energy and food etc are usually around £6000.
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Of course the [fairy] tale fails to inform us of how many of Thea's children we are supporting, or how much she gets in child support. Assuming the Dad(s) not dead.
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She has 3 kids according to the article.
The other thing is she is also the archetypal immigrant that the more immigration/open borders types say we need more of in that she has been here 20 years and clearly has a well paying job to bring in £2800 after tax and yet she is still taking over £3000 grand in welfare a month and clearly thinks she should get more. |
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Govt could have gone a lot further to equalise the rake between PAYE and other income.
I'm not complaining because I benefit but - in principle - there is no valid justification imo for farm labourers to be taxed at a higher rate than, say, farmers, who offset their income against £1/4 million tractors then use them to block the thoroughfares in Whitehall. |
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Not on that scale but a woman with 5 children and a husband on long term sick leave estimates that their income (all benefits) will rise to £2750 per month. Presumably tax free so the equivalent of around £40k for someone in work and paying income tax and NI. So they get significantly above the average wage for doing nothing. Hardly surprising that so many people choose not to work.
Regarding taxing the State pension, they already do but pretend not to. I have a private pension paying £3232 a year. I get it quarterly so £808 before tax. Because my State pension is already well above the personal allowance, I have tax deducted from the private pension reducing the quarterly amount to £499 at the moment. After April my State Pension will rise by £700 so another £140 will be taken in tax from the private one reducing it to £359. By 2029 the whole of my private pension will be taken in tax if the State Pension continues to rise at about 4% per year. They would then start to erode my other private annuity which only pays £300 per quarter so without an increase in the personal allowance that would also be taxed at 100% by 2032. I understand the calculation but to say the State pension is not subject to tax is a lie unless it is your sole source of income in which case you would get one of the other benefits anyway. |
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Some farm workers are still entitled to a rent free cottage so far as I know. That is not taxed. When I was farming we gave our employees an interest free loan to buy their own house and sold the cottages which was a good deal for both sides. And the tractor cost is only spread over a number of years instead of having to pay it all out of one years profits. You still get taxed on all of it over a number of years. It is called amortisation and is common practice in most industries.
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Yes, common tax-avoidance practice is rife, except for those on PAYE, that's what I'm saying.
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Taxed at 100%
Lol,you mean all of it will be taxed as state pension mops up all of your tax allowances. As you didn't pay tax on cash put into pension it's only right. |
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----you-have-to-laugh--- 27 Nov 25 21:55
Reeve tells Martin Lewis that state pension will remain tax free over course of this parliament. So obviously plans to raise allowances, at least for pensioners. Odd to tell Martin Lewis, and not announce in budget. .................... I think they're a bit scared of him, he's populist and carries some clout. I can't do with the presentation of his show or I'd watch it. |
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It will be curious to see how they deal with that anomaly, if it's true. People who don't have any secondary income aside from the state pension that could be tax at source, but over the tax free threshold.
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sageform, I assume you are recycling the £2880 annually to get the 'free' cash.
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I don't take anything other than the State pension to which I am entitled (and every pound above £12570 is taxed) and the £200 cold weather payment to which I am also entitled but so far is not taxed. The point I was making was that HMRC take nearly half of my private pension now and will take ALL OF IT, yes 100% if my state pension reaches a high enough figure which it might within 4 years if the inflation rate stays around 4%. All because they are too cowardly to admit that they are imposing tax on a State Benefit. They should be honest about it and take tax from the State Pension and just the basic 20% from my private income.
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Not sure what you mean by free cash Cider unless you mean the tax free income and dividend allowances. This again is something everyone is entitled to. I also make quite a lot of income from ISAs but yet again everyone can do that.
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Up to age 75 you can put in up to £2880 into a pension to get tax relief, even if you have no earned income. So, effectively a 'free' £720 annually. Sorry if you have already passed that age!
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Again, though, that's a "benefit" paid to those who have a spare £2880. The poorest don't live like that.
I would have every penny of pension tax-relief paid back to HMRC before anyone could claim state-pension and even that would be a good deal for the individual. |
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There are plenty of benefits to being 'poor' as you put it, but that post is directly to sageform, who isn't poor.
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The government takes plenty off you, so all opportunities [within the rules] to grab some back should be taken!
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The Great Tax Robbery
Rachel Reeves accused of 'lying' as OBR watchdog reveals she was told MONTHS before Budget there was NO hole in the public finances  WTF is going on ? |
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unitedbiscuits
Labour have ramped spending (again), and ramped up borrowing (again). Nibbling away at dividend tax is irrelevant. |
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So there has never been any Black holes ?
REEVE AND STARMER are toast , the Labour Party must act now |
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Kemi Badenoch has claimed that the OBR letter released today shows that Rachel Reeves “lied to the public” to justify tax rises in the budget.
We wonder why they released the Budget Details early , could it be the OBR knew it was a sham Budget ? |
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Chris Philp MP: There was no £22 billion black hole - Rachel Reeves made it up
Thursday, 31 October, 2024 So these Imaginary Holes have appeared in Two Budgets ? |
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be careful what you wish for, Labour are calling the shots until 2029 at least.
If these made up black holes are true Starmer and Reeve must go ,There will be every right for the People of the UK to call for a General Election This is Fraudulent Tax Extortion |
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Didn't see you complaining when Cameron was elected and said the last administration had left the country bankrupt.
They all deal in lies. |
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Peston has come on ITV to say WTF is actually going on
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He said I back all this
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We can see that you are excited, the old nanny
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But can you articulate what you are agitated about?
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I should imagine its you lefties are Agitated UB ,When this Women and that Excuse for a PM are gone I will be delighted
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I have never said I disagree with the tax calculations from HMRC Cider (and I am too old for the £2880). It is the blatant dishonesty of Ms Reeves that makes me angry. Of course they are taxing the State Pension and they have raised income tax rates by 2% on all investment income above the free limit. Both of which break manifesto pledges and even now she denies that she has done either!
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Rachel Theives is employing Trump tactics
Say it often enough someone might believe her How many wars has she ended? |
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Dishonesty from a guy claiming 100% tax rate
You don't have to make it up. |