Autumn Statement - Predictions and results

mystic_trev

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OK - So as no one's started a thread on this, I will!

Predictions - Paying NI until 70 if employed.

- Salary sacrifice schemes to be axed.

setmefree2

Autumn Statement 2015: what we know and what to expect

http://www.theweek.co.uk/autumn-statement-2015/64483/autumn-statement-2015-osborne-hints-that-surplus-target-may-fall

kabayiri

Excuses on missing deficit targets will be up by between 25% and 40%.

Reductions on the term 'global' will be matched by 'Middle Eastern' or 'European' terms.

More government property will be announced as up for sale. In practise this will mean more civil servants relocated to modern air-conditioned sheds near retail parks.

(I miss the old days of "2p on fags", "3p on a pint of beer"....)

chris_m

kabayiri wrote: »

(I miss the old days of "2p on fags", "3p on a pint of beer"....)

Doesn't that usually come in the Budget, in March?

setmefree2

kabayiri wrote: »

(I miss the old days of "2p on fags", "3p on a pint of beer"....)

I would really welcome some fat & sugar taxes.

Or maybe just slap VAT on all food....

.....obese people should be paying more to cover the extra costs to the NHS....

.....imho

Of course, this won't happen but it should....

Pennywise

More announcements towards "merging" tax and NIC. I suspect they'll never actually merge them, but certainly making the NIC rules closer to the tax rules, i.e. NIC on a total income basis, not "per job", NIC on income other than earned income, i.e. dividends, investment income, occupational pensions, etc. Would be relatively simple to apply the same thresholds as currently used for income tax to apply to NIC as well as easy to do via the PAYE system which people are already paying tax through. So paying tax at 20/40/45% AND paying NIC at maybe a reduced rate of 5% for all, on exactly the same income and under the same thresholds as income tax. NIC remains the biggest tax travesity that needs to be tackled.

michaels

Pennywise wrote: »

More announcements towards "merging" tax and NIC. I suspect they'll never actually merge them, but certainly making the NIC rules closer to the tax rules, i.e. NIC on a total income basis, not "per job", NIC on income other than earned income, i.e. dividends, investment income, occupational pensions, etc. Would be relatively simple to apply the same thresholds as currently used for income tax to apply to NIC as well as easy to do via the PAYE system which people are already paying tax through. So paying tax at 20/40/45% AND paying NIC at maybe a reduced rate of 5% for all, on exactly the same income and under the same thresholds as income tax. NIC remains the biggest tax travesity that needs to be tackled.

I'd love to see it...but you are forgetting that voters (old people) are those who have the most unearned income so I can't see it happening.

With oil prices so lw pehaps we will see a 'fuel price stabiliser' brought in - perhasp 5p on a litre now that would decrease to zero if petrol prices hit 1.25 and to -5p if petrol prices reached 1.50?

kabayiri

chris_m wrote: »

Doesn't that usually come in the Budget, in March?

It never comes at all now. Autumn or Spring.

It's probably rose tinted glasses, but were things simpler before the GFC?

Nowadays, every announcement has to save billions or generate billions. In a few short years Labour will come along and reverse half these initiatives anyway.

theEnd

Pennywise wrote: »

More announcements towards "merging" tax and NIC. I suspect they'll never actually merge them, but certainly making the NIC rules closer to the tax rules, i.e. NIC on a total income basis, not "per job", NIC on income other than earned income, i.e. dividends, investment income, occupational pensions, etc. Would be relatively simple to apply the same thresholds as currently used for income tax to apply to NIC as well as easy to do via the PAYE system which people are already paying tax through. So paying tax at 20/40/45% AND paying NIC at maybe a reduced rate of 5% for all, on exactly the same income and under the same thresholds as income tax. NIC remains the biggest tax travesity that needs to be tackled.

He's already announced the raise on dividend tax for next year, which brings it very close to including the NICs.

There was talk of him changing the way contractors are 'employed' which would cause a lot of issues for me and doesn't really make any sense.

ukcarper

setmefree2 wrote: »

I would really welcome some fat & sugar taxes.

Or maybe just slap VAT on all food....

.....obese people should be paying more to cover the extra costs to the NHS....

.....imho

Of course, this won't happen but it should....

Aren't ' things like soft drinks, crisps, sweets etc vat rated already.

Thrugelmir

kabayiri wrote: »

Nowadays, every announcement has to save billions or generate billions. In a few short years Labour will come along and reverse half these initiatives anyway.

They would simply blame the Tories for the state of the economy and say that that the initiatives will to have to remain until the finances improve. :dance: