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Tax cuts for savers

We'll see. It seems that the 20 point difference in oppinion polls might make the Clown give something to savers, I won't hold my breath
SAVINGS
Liquidity is when you look at your investment portfolio and **** your pants
«13

Comments

  • nzseries1
    nzseries1 Posts: 2,240 Forumite
    Tax cuts for savers, targeted at the elderly, are thought to top the list of Treasury priorities.

    Boo yah. Let's see if I can contain my enthusiasm.... oh no, I can't.... woooooo. End sarcasm.
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • It'd be better to spend that money on the basic pension and help all pensioners, including those without the safety cushion of substantial savings.
  • CHR15
    CHR15 Posts: 5,193 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Even without Tax there is nothing available which gives a decent return.

    Saving = Pointless

    You can save more money by buying Tesco Value food instead of real food (with meat in).
  • Mikeyorks
    Mikeyorks Posts: 10,377 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Stavros wrote: »
    might make the Clown give something to savers

    ...... was Icesave et al ....... just something I imagined then?
    If you want to test the depth of the water .........don't use both feet !
  • Reaper
    Reaper Posts: 7,356 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    I still stand by my prediction that it won't be a direct help for savers, instead it will be an adjustment to the pension system such that pension payments are not reduced so much for pensioners who have savings.
  • JP45
    JP45 Posts: 335 Forumite
    Mr Brown again refused to express regret for his role in Britain's financial crisis, except to say that he was sorry he had failed to persuade other countries to support proposed changes to the international system of banking regulation.

    I think it must now be clear to just about everyone that Brown has a deeply flawed personality. He seems quite incapable of accepting responsibility or blame for anything.

    As for tax cuts for savers, it's yet another sign that he all he seems to care about is his poll ratings and prospects at the next election. The UK's budget deficit and overall debt are rising to dangerous levels. Unless the government can convince the rest of the world, notably the bond markets, that it can get the public finances back under control - through a mix of tax increases and spending cuts - then sterling will suffer and the government will end up paying even more to finance the deficit.

    All we are doing with populist measures like this is mortgaging our future. And besides, even if the government were to reduce or do away with tax on savings - presumably for a limited period - the effect (like the 2.5% reduction on VAT) would be negligible. With the Bank of England base rate heading towards 0%, the saving would be miniscule. It's just another desperate and reckless attempt to court popularity, with no regard to the long term consequences.
  • cos69
    cos69 Posts: 413 Forumite
    JP45 wrote: »
    ....... With the Bank of England base rate heading towards 0%, the saving would be miniscule. It's just another desperate and reckless attempt to court popularity, with no regard to the long term consequences.

    That's the point is it not - if savers are not getting much interest to pay tax on, it costs him very little to enable granny to get all her interest tax free, but makes popular headlines

    Brown has never done anything to encourage savings and is not going to do anything that benefits savers in the long run.
    "How could I have been so mistaken as to trust the experts" - John F Kennedy 1962
  • xyz123
    xyz123 Posts: 1,671 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    CHR15 wrote: »
    Even without Tax there is nothing available which gives a decent return.

    Saving = Pointless

    You can save more money by buying Tesco Value food instead of real food (with meat in).

    if everyone of us had thought otherwise and had sorted their savings then we would be in much better shape than we are today.....savings is just as it says savings, it is there for a rainy day and not just if you get a decent return

    Even to buy Tesco value food you need money so dont say saving = pointless

    There are still accounts which give up to 4% interest. Considering that the base rate is 1% then 4% is quite good and is a decent return on any investment....
  • Is there any policy proposed by the Conservatives that Brown won't make his own over the next 12 months?

    He's even ordered a review into MPs' pensions after the Tories said they would put MPs on a defined contribution scheme :T

    He's like an Olympic sailor who's ahead on points, covering every move the opposition makes, so that they don't get caught out by a change of wind.

    Except that Gordon is behind in the polls, not ahead ;).
  • soulsaver
    soulsaver Posts: 6,736 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    JP45 wrote: »
    Mr Brown again refused to express regret for his role in Britain's financial crisis, except to say that he was sorry he had failed to persuade other countries to support proposed changes to the international system of banking regulation.

    I think it must now be clear to just about everyone that Brown has a deeply flawed personality. He seems quite incapable of accepting responsibility or blame for anything.

    As for tax cuts for savers, it's yet another sign that he all he seems to care about is his poll ratings and prospects at the next election. The UK's budget deficit and overall debt are rising to dangerous levels. Unless the government can convince the rest of the world, notably the bond markets, that it can get the public finances back under control - through a mix of tax increases and spending cuts - then sterling will suffer and the government will end up paying even more to finance the deficit.

    All we are doing with populist measures like this is mortgaging our future. And besides, even if the government were to reduce or do away with tax on savings - presumably for a limited period - the effect (like the 2.5% reduction on VAT) would be negligible. With the Bank of England base rate heading towards 0%, the saving would be miniscule. It's just another desperate and reckless attempt to court popularity, with no regard to the long term consequences.
    Well if the effect is negligible, then he may as well give it then and you won't be bothered about it....
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