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What would and should the Chancellor do this year?

MSE_Martin
MSE_Martin Posts: 8,272 Money Saving Expert
Part of the Furniture 1,000 Posts Combo Breaker
The Chancellor has announced that the Budget will be on March 22. Please use this thread to discuss all things Budget related.

One interesting place to start would be to note a) What you think he will do and b) What you think he should do.



To discuss the Budget once the chancellor's sat down go here
Martin Lewis, Money Saving Expert.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
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Comments

  • Hawksmuir
    Hawksmuir Posts: 144 Forumite
    a) no idea

    b)Increase the Inherritance Tax threshold to be at least in line with inflation, or RPI
    Mortgage Free Wannabe 2009 Challenge
    Mortgage Free Wannabe 2009 Challenge £1,000 overpayment.
    Total Mortgage £90,000 (as at 01/01/09)
  • BlondeHeadOn
    BlondeHeadOn Posts: 2,277 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    a) I suspect he will do something headline-grabbing to make e.g. pensioners feel good - but only as a one-off payment, so he doesn't have to find the money every year

    b) I think he should raise the Inheritance Tax threshold such that it does what it is supposed to do and only affects the very wealthy, not virtually anyone owning their own house

    :rolleyes:
  • cattie
    cattie Posts: 8,841 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I haven't a clue what he will do, but it will probably be nasty for a lot of people.

    What I'd like to see him do is bring back tax relief on mortgage interest.
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
  • judderman
    judderman Posts: 166 Forumite
    Yeah i agree, Inheritance Tax needs to go up.

    I heard today, that he's putting £20 on road tax for all 4x4's? Anyone else heard this?
  • reelcrazy
    reelcrazy Posts: 408 Forumite
    1. Increase road tax for all cars
    2. Increase personal allowance to above £5000 for tax and NI.
    3. Reduce tobacco duty to discourage smuggling
    4. Increase inheritance tax threshold to at lease £350,000
    5. Increase tax to 50% for high earners
  • jos22
    jos22 Posts: 249 Forumite
    Increase the Personal Allowance so that all the people getting a "rise" with the increase in the minimum wage keep it.

    Increase Pensions and stop the means testing.

    Remove the VAT on electricity & gas.

    Close the MP's final salary pension scheme.
  • cardtart_2
    cardtart_2 Posts: 1,140 Forumite
    http://forums.moneysavingexpert.com/showthread.html?t=169635
    OI! Martin I already started this one off yesterday.....in case you hadn't noticed lol
    but seeing as its you I will let you off!!
    bye hoo
  • mr_fishbulb
    mr_fishbulb Posts: 5,224 Forumite
    Part of the Furniture Combo Breaker
    I think it will be a pretty boring budget really.

    But I hope he does something to help out first time buyers (i.e. me :D)
  • whatever he does it will mean i'm worse off one way or another - i don't even drink or smoke!
    i'm living in a parallel universe
  • Poppy9
    Poppy9 Posts: 18,833 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    What ever he does you will need the analysts to tell you whether you are better or worse off :p
    :) ~Laugh and the world laughs with you, weep and you weep alone.~:)
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