budget 2017

[Still]

How can a single cut be justified in this budget when May is about to hand over 40 billion to the EU, I would personally tell the EU to go f^ck themselves & walk away from this ransom request.

40 billion's worth of blood money.

It's what the U.K. committed to contributing to the E.U. prior to voting Leave, so we signed up for it.
How is it blood money?

 

[droodzilla]

Here's a handy FT infographic:

There's room for debate about the amount but we can't just tell the EU to f*ck off.

 

[Seeker_UK]

Here's a handy FT infographic:

There's room for debate about the amount but we can't just tell the EU to f*ck off.

In the 'oh-so-simple-black-and-white' brexit supporter's world, apparently you can.

 

[kendo]

How can a single cut be justified in this budget when May is about to hand over 40 billion to the EU, I would personally tell the EU to go f^ck themselves & walk away from this ransom request.
I would like to ask the government where this amount has come from when the country is supposed to be clawing back a deficit.
The pot is clearly not empty.

40 billion's worth of blood money.

Always worth reading the small print.
PS Who do I claim the money back from that brexit has cost me?

 

[robs]

I rather like the two large chunks shown as EU official's pensions and Agricultural spending. Maybe we will hear a little more about those...

 

[Tony L]

40 billion of commitments and contractual agreements etc. A drop in the ocean compared to what Brexit will cost in the unemployment and poverty that is coming. A heck of a lot of dole money is going to have to be found from somewhere once the EU-facing manufacturing base all bugger off! Brexit is going to hurt a lot of people big time. The less they have the more it will hurt. One big concern is those with wealth who foot these tax bills will just jump off the shitty sinking ship of Little England. I’d be out like a shot if I could afford to...

 

[glancaster]

The Budget's done. No obvious banana skins, for example the VAT registration threshold is not lowered, merely frozen and under review.

And yet...

It's a modest giveaway budget - new money for this, that and the other. Tax position broadly neutral, some small real terms rises, some small real term falls. Growth this year is 1.5% for our £2trillion economy, about one third of which goes to the government coffers. Borrowing is going to fall, according to Spreadsheet Phil. So, how do you get all that to add up?

 

[sam_cat]

so many are selling , which is bad news for those who can`t get a mortgage and need a house . mr osborne made life very difficult with his new tax rises and stamp duty imposition . hopefully your tenants will be able to move

Sadly the end result of landlords selling up is that rents are very likely to rise.. Supply and demand.

 

[Seanm]

So, how do you get all that to add up?

Massive cuts to public services?

 

[stevec67]

I would personally tell the EU to go f^ck themselves & walk away.

Yeah, that'll work. Just like you can get taxi rides for free simply by telling the taxi driver to f*** off as you get out. He isn't going to get a load of his mates to kick the sh*t out of you at all. Just like the EU wouldn't turn away lorries at Calais, or stop imports of food, cars and electricity, if we told then f* off.

 

[MichaelC]

That was seemingly a non budget. As we were...

 

[hifinutt]

pleased with the stamp duty cut for first time buyers . brilliant news

 

[Still]

Presumably the stamp duty cut will increase prices.
Excellent news for existing property owners and relatively wealthy ftbs.
Well done Conservative H.Q. the government!

 

[glancaster]

To be fair, there is lots more in this budget designed to increase housing supply, so overall house prices should be lower than they would have been without the budget interventions. I particularly like the efforts to get empty housing back in use and to cut down on 'land banking'.

And of course, if you consider the price actually paid by the buyer including taxes, then the stamp duty cut alone lowers that overall price - the increase in demand is not going to wipe out the whole tax cut.

If you want people to be able to get on the housing ladder this is good. It's also partly Tory self-interest, naturally, as home owners are more likely to vote for them.

The BBC's budget summary is here: http://www.bbc.co.uk/news/uk-politics-42056452

 

[Bob McC]

Why are homeowners more likely to vote Tory?

 

[Seanm]

OBR reckon the stamp duty will increase house prices: it does nothing*. Bung to owners maybe.

The land banking thing: my understanding is they're "going to look into it."

*Actually they predict the cut will cause prices to rise by twice the amount of the cut.

 

[glancaster]

Why are homeowners more likely to vote Tory?

We could speculate on the reasons, but it's well known that they are. See, for example: http://www.telegraph.co.uk/news/pol...-voted-Conservative-as-Labour-last-month.html

 

[Still]

We can't afford to treat benefit recipients reasonably re: universal credit, but we can afford to prop up property prices/provide a bung to ftbs.
istm this is a fcuked up situation.

 

[NeilR]

Here's a handy FT infographic:

Has anybody shown this to the the Maybot and DD?

 

[Seanm]

We can't afford to treat benefit recipients reasonably re: universal credit, but we can afford to prop up property prices/provide a bung to ftbs.
istm this is a fcuked up situation.

Also, not allowed to abolish student fees or reduce the cost of public transport because that might benefit rich people.