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Budget 2011: Key points..
Comments
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Graham_Devon wrote: »Can hear now.
Shame it's now onto Ed whingeing on and on. Even the house is groaning.
Ha it keeps making me laugh that the judge guy keeps telling the crowd to shut up or leave
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HAMISH_MCTAVISH wrote: ».
Fuel duty. -- Fair fuel stabiliser to be introduced.
Fuel Duty Escalator to be scrapped,paid for by increased tax on north sea production, but can be reintroduced if crude prices fall below $75 per barrel, at which point tax on crude to be reduced instead.
No duty rise this year.
Duty cut by 1p per litre from tonight.
This is big news.
As I understand it, the fuel duty escalator which had automatic above inflation rises in fuel duty will be scrapped. There will be no rise in fuel duty this year, not even an inflation matching one, instead it will be cut from tonight by 1p.
Instead, fuel duty is to be frozen as long as oil is above $75 a barrel. Paid for by an increased tax on producers, as long as oil is above $75 per barrel. If oil falls below $75, the duty escalator is reintroduced, and the producer tax reversed.
Not quite a stabilizer, but close.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
So... the summary is not much change... a few good measures on charities, an OK measure on corporation tax, and some weird measure on fuel duty which doesn't seem to make sense to me (the chancellor does realize that the oil companies will just pass the tax on, doesn't he?)
Biggest thing in the budget is replacing the existing regional development funds with a organization that will need new pretty logo's.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
1p on fuel is a joke TBH.
That makes it £1.40 a litre for me now (unless i drive to southern Ireland to get it)0 -
(the chancellor does realize that the oil companies will just pass the tax on, doesn't he?)
Doesn't work like that. Oil prices on the global markets don't really reflect minor cost of production changes for the North Sea.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Graham_Devon wrote: »99.99m now.
They filling one outside my office, and what a noise, I can't hear the budget!!
Nice 1 Graham. :rotfl:
I see you are being pecked again. I suppose you were expecting it, but at least you've had a break.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
of course it's needed - we have over 2.5 million people unemployed and people working less hours.
wanting people and families to be thrown out of their homes isn't a very nice thing to want to happen.
It's called natural selection. It's how humans evolved into the dominant species on the planet.0 -
The motoring/fuel taxes are a wash (see the bottom of page 42 in the budget report). Petrol prices may come down in the very short-term but producers will just adjust their prices for the added taxation. Based on the budget projections we're getting the fuel escalator just by different means.
So there is no price difference between Brent Crude and WTI? You can use any old refinery to process heavy Saudi oil and light Venezuelan? Britain gets a large chunk of oil from the North Sea, perhaps oil companies providing Britain's oil needs can adapt, but then Osborne will be entirely wrong about getting an extra £2bn+ a year from this tax raid.HAMISH_MCTAVISH wrote: »Doesn't work like that. Oil prices on the global markets don't really reflect minor cost of production changes for the North Sea."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
They talking on five live now. "Some great proposals to help FTB, and hopefully house prices will rise."
Huh?!
Sounded like Martin, but I still have pothole issues, is it Martin on there saying this? Anyone listening?0 -
It's called natural selection. It's how humans evolved into the dominant species on the planet.
Do you really think that your ability to pay a mortgage has an influence on the gene pool? I must have missed that one in the 'Origin of Species'.
If everything came down to an individual's 'worth' at any single point in time we would have been extinct long ago.0
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