is anyone else worried about the budget?

andrea1968_2

The last government has basically done what the vast majotiry of us have done - we've spent way beyond our means without really thinking that it needs paying back at some point with interest and a lot of headaches along the way.

The BIG difference is we have to pay our own debts back where as they get us to pay their debts back for them - genius plan on their behalf.:T
Now the next set of clowns are giving us a lesson in accountancy - not be long before they're posting on here asking everyone for advice.

Rant over

Ellie2758

Yup, I'm am officially worried. Son and gf are moving into rented accomodation. Both are students with p/t jobs. If VAT gets put onto food how are they gonna afford to eat?

Sounds like local authorities will be hit. Both husband and myself work for LAs (not the same one). His college has a new Principal who is already looking at cost cutting. LSAs have already had to re-apply for their own jobs.

To make it worse, we are in the process of separating................I am looking to buy a place of my own. He will then have to sell our place, buy a place for himself and split the difference (if there is anything left after that!). It isnt just the cost of buying the place, it's the fees involved too. Have to say we did ok under Labour. Child Tax credits made a huge difference to us. Kids are now grown up though so we wouldnt get them anyway. We were well and truly screwed under Maggie with her 15% interest rates and Poll Tax :mad:. Not happy with new govt at all. What's all this about rape defendants keeping their anonymity then eh? That wasnt in the agenda as I recall it.

Georgie4

Also worried about implications - particularly as a public sector worker. Have heared rumours today that the pension contributions are going to be put up a further 2.5% - so as well as having a pay freeze we will in effect get a 2.5% pay cut.
The media have done a very good job of making everyone think that somehow the current crisis has been caused by the public sector - has everyone forgotten it was sub prime mortagages and people borrowing far more than they could afford to pay back but we are easy targets!

crystyl

So how does everyone feel now?

budgeting.nurse

I am a nurse, so I'm facing a two year pay freeze. Although I am quite junior so will still be getting my increments at least. I feel sorry for my colleagues that are at the top of their band.
VAT increase was predictable but didn't think they would go that high. But thankfully food is still excluded. Got no children so a lot of the tax credits/benefits stuff etc is not applicable thankfully!

Two9A

It was all... a bit odd, really. VAT up to 20%, sure, but starting in January (not from midnight); no increase on cigs and beer; corporation tax down, income tax down, child tax credit up...

Maybe it's part of Osbourne's secret plan to cheer us all up: put out weeks of depressing news, then have a good-times Budget

Peggy40

funkyfish586 wrote: »

appologies if this has been done already but i am pooping myself lol

I am on a DMP with payplan & we just about scrape by now but its really tough. By the looks of it we will be losing our tax credits as we are over the income bracket the media are suggesting it is (£25,000)

Obviously i know its all speculation until 2moro but i am so concerned that if they take the tax credits away we will be screwed. I have friends panicing about the child benefit supposidly being cut too, but im trying not to think about that as if they took that away i would have to go bankcrupt.

Is this just my pregnancy hormones making me worry ? or is anyone else a bit edgy x

I think a lot of us are going to be worse off. My mortgage is up for renewal, and that is definitely going up before everything else. Was hoping Id be able to afford a new car, but with VAT going up in the new year too .... I think I'll be hanging back to see what deals come up. (lots of luck with the pregnancy) :A

eco

I think for once I've done ok, I don't have kids so ok there, but I'm single so no one to fall back on, but CT freeze is good, and earn under 21k so will get that tax relief, no extra on petrol which is good, and my mortgage fix rate end in December so should save a bit there, where I work we have had a pay freeze for 2 years now so hopefully this will make up for some of that shortfall.