MSE News: Budget'15: Savers to get up to £1k personal allowance before interest taxed

jamesd

Spidernick wrote: »

Methinks you haven't read the conditions of the proposed change!

Just read the post before mine that proposed abolishing income tax on savings. No limit, unlike the new rule. Do continue to let me know if you think I've made an error of fact though, sometimes you'll be right.

kidmugsy

steelbru wrote: »

He's also ruled out a coalition with the SNP

What if the price for SNP support is that Wee Eck, not Small Balls, becomes Chancellor of the Exchequer? He's actually better qualified than Balls for the job.

Spidernick

jamesd wrote: »

Just read the post before mine that proposed abolishing income tax on savings. No limit, unlike the new rule. Do continue to let me know if you think I've made an error of fact though, sometimes you'll be right.

My apologies, but perhaps quoting the post you were responding to would have avoided confusion.

steelbru

kidmugsy wrote: »

What if the price for SNP support is that Wee Eck, not Small Balls, becomes Chancellor of the Exchequer? He's actually better qualified than Balls for the job.

Just a few days ago Milliband categorically ruled out any SNP MP holding a cabinet position in a Labour government "There will be no SNP ministers in any government I lead"
http://www.bbc.co.uk/news/uk-politics-31906463

Archi_Bald

Of course Ed Milliband would love people to believe a 'no SNP coalition' statement means the SNP would not dictate vast parts of the Labour agenda.

At least Nicola Sturgeon was honest when she commented that "all the Labour leader had done was "rule out something no-one was proposing".

There would still be an enormous amount of room for horse trading between Labour and SNP, as the SNP would offer to support the government on a vote-by-vote basis ("confidence and supply"). Naturally, this would involve concessions from Labour to the SNP. Which is one of the reasons why Nicola Sturgeon is so dead keen on it. This sort of arrangement is, in many regards, a lot more powerful than a coalition because all the deals can be agreed behind closed doors.

kidmugsy

steelbru wrote: »

Just a few days ago Milliband categorically ruled out any SNP MP holding a cabinet position in a Labour government "There will be no SNP ministers in any government I lead"

The sentence is inverted commas does not mean the same thing as the preceding prose. I see no need to assume that a government involving Labour must have Mr Moribund as PM.

colsten

steelbru wrote: »

Just a few days ago Milliband categorically ruled out any SNP MP holding a cabinet position in a Labour government "There will be no SNP ministers in any government I lead"
http://www.bbc.co.uk/news/uk-politics-31906463

If anyone still doubts that a Labour government would be at the mercy of the SNP, listen to what Alex Salmond had to say on the Andrew Marr Show this morning. Starts about 40 minutes in.

Or read: http://www.telegraph.co.uk/news/general-election-2015/11488369/Alex-Salmond-I-will-help-write-Ed-Balls-first-Budget.html

JRG

The Budget mentions, and everybody is talking about, 'savings' accounts.
What about 'current' accounts that pay interest? Will these be excluded from the Personal Savings Allowance? Will be banks still pay net interest?

jamesd

Bank accounts are certainly included.

For the Budget 2014 changes dividends were not included but these were:

"What counts as savings income?
This includes interest from savings accounts you hold with banks, building societies and other account providers, such as credit unions. It also includes interest distributions from authorised unit trusts and open-ended investment companies and income which is not interest, such as the profit on government or company bonds which are issued at a discount or repayable at a premium. Other types of savings income include purchased life annuity payments and gains from certain contracts for life insurance."

No guarantee that Budget 2015 would use the same but I hope they don't introduce something different for the two things.