The Budget

vivatifosi

Graham_Devon wrote: »

Well done, and thank you Viva.

You must have been typing away like mad!!

michaels wrote: »

Seconded - thanks Viva, you were consistenly ahead of the BBC and captured more detail.

Thanks guys. I was taught to touch type and can type 90wpm. I was still grateful for the heckling breaks giving me a chance to catch up though.

And sorry for the typos and half finished sentences, couldn't do any more than that. Sorry lisyloo - that means that I didn't catch the second half of the bit about dividends, but think it referred to what I typed later. If you are affected (as indeed I am), its something to look into later.

kabayiri

Fifteen years after the debacle that was IR35 they are trying to fix the income by dividend trick.

Nothing like taking your time is there

beecher2

Graham_Devon wrote: »

Actually re-looking at the living wage, it's not THAT radical.

Minimum wage has gone up around 30p each year anyway.

Achieving £9 an hour by 2020 is only a 45p increase each year. Comes with a one off 70p rise next year instead of approx 30p.

Seems business's are the biggest benefactors with the NI cut.

Think it just seemed massive as it's entitled "Living Wage". In reality, it's not really that far away from what we had anyway.

If you are working 30 hours a week on NMW currently, it's an extra £14.70 a week. Easily swallowed by the tax credits measures.

Labour's manifesto commitment was for £8 an hour by 2020, which shows how lacking in radical ideas they were.

Wonder what will happen to under 25s.

Graham_Devon

beecher2 wrote: »

Labour's manifesto commitment was for £8 an hour by 2020, which shows how lacking in radical ideas they were.

Wonder what will happen to under 25s.

True - but doubt they would have cut tax credits quite as hard as the same time.

As I say, and I'll have to wait for analysis - sounds like the biggest benefactors of this living wage are actually the employers.

theEnd

kabayiri wrote: »

Fifteen years after the debacle that was IR35 they are trying to fix the income by dividend trick.

Nothing like taking your time is there

It's quite significant and should make IR35 obsolete:

Mr Osborne says the dividend tax system is "complex and archaic". He's replacing dividend tax credit with a tax-free allowance of £5,000 of dividend income for all taxpayers.

The rates of dividend tax will be set at 7.5%, 32.5% and 38.1%.


Details will be important. On all divds 'received' there's an extra 7.5% to pay, but there will be some gain as the 5k allowance and the removal of tax credit, should mean the move between 7.5% and 32.5% is later than the jump between 0% and 25%. Maybe as much as 9k later.

Generali

Well done viva. I blogged one on here, it's strangely exhilarating at the end!

kabayiri

Telling stat from the budget

WTC : cost in first year = £1.1bn

Cost now = £30bn

Something had to be done, but is it enough?

michaels

I don't see how a national living wage of £9ph fits with a regional devolvement of powers agenda? I'm just not sure that level of minimum wage makes sense in areas with high unemployment currently?

kabayiri

I'm slightly worried that Manchester is George's love child.

(though it clearly is)

Take note SNP - *this* is how you gain favouritism from the Tories. Make every small hamlet and town a city, and ask Westminster to support the introduction of a city mayor!

Thrugelmir

beecher2 wrote: »

Wonder what will happen to under 25s.

They'll have to remain living at home, or gain the necessary qualifications or training to get a decent job.