We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The budget - not quite live

I've just watched the first half an hour of the budget before noticing Hamish's request to live post it. Will rewind live TV the half an hour that I can and start posting as much as I can

Growth forecast 2016 stays 2.6%
Grwth fcst 2015 up 0.1% to 2.3%
for 2014 up 0.3% from 2.4 to 2.7%

Fastest fall in youth claimant count since 1997.

OBR predict 1.5m more jobs, unemployment down, wages up.

Record no. in work, record no. of women in work.
Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
«13456717

Comments

  • vivatifosi
    vivatifosi Posts: 18,746 Forumite
    Part of the Furniture 10,000 Posts Mortgage-free Glee! PPI Party Pooper
    Public finances:

    Was borrowing £1 in every £4. IMF now says UK achieving largest reduction in both headline and structural deficits of any economy in the world.

    OBR revised down underlying deficit in every year of their forecast.

    Deficit was 11% will be 6.6%, lower than forecast and down 1/3. Will be 5.5%. Deficit to disappear 2018? Only if plan continued.
    Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
  • JasonLVC
    JasonLVC Posts: 16,762 Forumite
    Part of the Furniture Combo Breaker
    Bingo Hall duty halved to 10% to protect the industry.


    Paid for by adding 5% onto FOBT (Fixed Odd Terminals) duty.


    Bonus - no more VAT on the fuel used by air ambulances, about bloomin' time.
    Anger ruins joy, it steals the goodness of my mind. Forces me to say terrible things. Overcoming anger brings peace of mind, a mind without regret. If I overcome anger, I will be delightful and loved by everyone.
  • vivatifosi
    vivatifosi Posts: 18,746 Forumite
    Part of the Furniture 10,000 Posts Mortgage-free Glee! PPI Party Pooper
    Faster growth alone will not balance books. Need to be more cuts.

    Underlying cash borrowing:

    Was borrowing £157bn pa. This year £108bn. £12bn less than forecast last year and even down since Autumn Statement. Gradual downwards decrease in borrowing.

    2018/19 will have a small surplus, no borrowing.

    Lower borrowing and small deficit = less debt. Debt to fall to 78.3% 2016-17 then 76.5%, 75.2% 18-19.
    Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
  • JasonLVC
    JasonLVC Posts: 16,762 Forumite
    Part of the Furniture Combo Breaker
    Tobacco duty up 2% above inflation.


    1p off duty for beer


    Whiskey and cider duty frozen.
    Anger ruins joy, it steals the goodness of my mind. Forces me to say terrible things. Overcoming anger brings peace of mind, a mind without regret. If I overcome anger, I will be delightful and loved by everyone.
  • vivatifosi
    vivatifosi Posts: 18,746 Forumite
    Part of the Furniture 10,000 Posts Mortgage-free Glee! PPI Party Pooper
    Bank of England providing support needed to businesses and family. New appointments made (see other news). Reconfirm remit for MPC, including 2% CPI.

    Asked committee to be particularly vigilant re issues in the housing market.

    Building foreign account reserves.

    £1 coin to be replaced by three penny bit style coin which is highly secure.
    Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
  • vivatifosi
    vivatifosi Posts: 18,746 Forumite
    Part of the Furniture 10,000 Posts Mortgage-free Glee! PPI Party Pooper
    Need to learn from the past. Every time a post war govt has got over its problems, spending has returned to previous levels within 3 years - which would mean debt returning to close to 100% of GDP.

    Will not squander hard won gains.

    A balanced current budget does not secure that. Need to run a surplus in the good years. In addition to cuts this and next year, will seek support from parliament to continue cuts into next parliament.
    Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
  • vivatifosi
    vivatifosi Posts: 18,746 Forumite
    Part of the Furniture 10,000 Posts Mortgage-free Glee! PPI Party Pooper
    0.7% will continue to go to world's poorest.

    Prudent management of departmental finances eessential.



    £1bn underspend for 2015/16 will be made permanent.

    Difficult decisions re public pay and pensions still need to be made.
    Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
  • vivatifosi
    vivatifosi Posts: 18,746 Forumite
    Part of the Furniture 10,000 Posts Mortgage-free Glee! PPI Party Pooper
    Benefits:
    Will seek support in Parliament to pass next week.
    Full list of benefits included in cap listed today in main doc (not on budget live).

    Only pensions and cyclical unemployment benefits excluded.

    Never again should we allow its cost to spiral or pay not to work.

    Any government in the future wanting to spend more on benefits will need to be honest with the public, held accountable by parliament and meet cap.
    Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
  • dryhat
    dryhat Posts: 1,305 Forumite
    Massive changes to ISA and pension rules.
  • JasonLVC
    JasonLVC Posts: 16,762 Forumite
    Part of the Furniture Combo Breaker
    Oooh.


    The 10p rate of tax on savings income to be scrapped.
    Anger ruins joy, it steals the goodness of my mind. Forces me to say terrible things. Overcoming anger brings peace of mind, a mind without regret. If I overcome anger, I will be delightful and loved by everyone.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.