I'm curious George. What's in your box?

mwpt

What was George rambling about at the start, mentioning unprecedented stimulus policies, negative interest rates, etc. Was he setting the tone? What tone?

Mistermeaner

edit: just seen money tied up until you're 60 with new isa (unless using to buy a home)... so essentially 25% 'tax relief' on absis isa is funded from post tax income. Of more interest to low rate tax payers than high rate then but a good idea - I will most likely take this up in addition to normla cash and S&S isa's and pension. Who knows how the rules around this thing may change under subsequent governments

princeofpounds

Who knows how the rules around this thing may change under subsequent governments

As a previous poster pointed out, it's a different model of pensions saving (apart from the housing bit). Instead of paying in pre-tax, and then getting taxed on withdrawal, you pay in after tax, and get some tax relief up-front, but the money should be tax-free on withdrawal.


The cynical interpretation is that this raises more tax now, at the cost of future tax, whilst the existing system works the other way around. But there are theoretical advantages to such a system (and drawbacks too). And realistically it's not going to raise significant sums of money for George, more for his successor's successor most likely. So I wouldn't be too cynical.


There's probably a faction in the government (and maybe beyond) that want to move over to this system over time, but they want to introduce the concept in a small way first. Partly as a gradual change, partly because they probably couldn't push a real change through right now.

Thrugelmir

mwpt wrote: »

What was George rambling about at the start, mentioning unprecedented stimulus policies, negative interest rates, etc. Was he setting the tone? What tone?

The global economy is in a mess. His message was that the UK is leading the developed world in addressing the issues in a proper manner. Not resorting to artificial "fudges" that no one can predict the outcome of. The result of which places the UK in a far better position to weather the next storm that arrives. One certainty is that they'll be one.

Generali

michaels wrote: »

Sugar tax - sweet

It's been very successful in Mexico.

Mistermeaner

Gosh corbyns response was pathetic. A couple of rehersed sound bites. No substance. No ideas.

Mistermeaner

And why does the sugar tax make the headlines (BBC at least)

Thrugelmir

Mistermeaner wrote: »

And why does the sugar tax make the headlines (BBC at least)

Because budgets are in reality extremely boring.

Moby

Thrugelmir wrote: »

Because budgets are in reality extremely boring.

Not this one mate;)

chucknorris

Thrugelmir wrote: »

Because budgets are in reality extremely boring.

This one was far from boring to me. Beforehand I feared CGT being raised in line with marginal income tax rates, at first I dismissed it, because it would have been grossly unfair (without a form of indexation), but even so there were some sources predicting it, and then I thought, unfair or not, they still might do it. Then during the budget I missed it when he said 'except for residential properties' when announcing the cut in CGT, so for about 30 mins I was very surprised and obviously pleased. Then when I learned the truth (on here) I felt as if I had lost out, when in realty, I had got exactly what I wanted from the budget (but that took a while to sink in).