The Budget trick

Sterlingtimes

Pensioners receive CPI on State Pensions, but the reduction of NI rather than income tax leaves non-working pensioners without a direct pension benefit.

luvchocolate

I see an increase of 8.5% a reasonable increase...I appreciate we will pay a little more tax..I've estimated I'll be about £15 a week better of after tax is taken off my works pension 

subjecttocontract

10% of the tax revenues the Gov' receive go to pay interest on the national debt. The country can barely afford anything. If you want politicians to deliver on promises we all need to pay more tax. 

Hoenir

No trick. The Autumn Statement was focussed on growing the economy. In particular making work pay.  Currently there's an effective cliff edge basic rate of 32% tax on earnings. 

MikeJXE

luvchocolate said:

I see an increase of 8.5% a reasonable increase...I appreciate we will pay a little more tax..I've estimated I'll be about £15 a week better of after tax is taken off my works pension 

Yep I agree

I'm a pensioner and I will be about £15 a week better off but hoping I don't get a rent increase 

Albermarle

Plus you will be getting an enhanced Winter Fuel payment this year. £500 instead of £300 I think and non taxable.

MikeJXE

Albermarle said:

Plus you will be getting an enhanced Winter Fuel payment this year. £500 instead of £300 I think and non taxable.

Yes in my case I will be getting £600 so I'm not complaining just feel sorry for people who are struggling 

Sterlingtimes

luvchocolate said:

I see an increase of 8.5% a reasonable increase...I appreciate we will pay a little more tax..I've estimated I'll be about £15 a week better of after tax is taken off my works pension 

Thank you. The National Living Wage increases by 9.8%, and regular pay excluding bonuses increases by 7.7%. So pensioners receive an increase of 8.5 - 7.7 = 0.8%. I would say about £1.60 a week.  

MikeJXE

Sterlingtimes said:

luvchocolate said:

I see an increase of 8.5% a reasonable increase...I appreciate we will pay a little more tax..I've estimated I'll be about £15 a week better of after tax is taken off my works pension 

Thank you. The National Living Wage increases by 9.8%, and regular pay excluding bonuses increases by 7.7%. So pensioners receive an increase of 8.5 - 7.7 = 0.8%. I would say about £1.60 a week.  

Ok if you want to fiddle with figures you could be right 

What I know is I will be about £15 a week better off 

subjecttocontract

Some people are already considerably better off with or without any budget......I'm told many of them belong to the Conservative Party don't you know !

luvchocolate

MikeJXE said:

luvchocolate said:

I see an increase of 8.5% a reasonable increase...I appreciate we will pay a little more tax..I've estimated I'll be about £15 a week better of after tax is taken off my works pension 

Yep I agree

I'm a pensioner and I will be about £15 a week better off but hoping I don't get a rent increase 

I live in housing association property and last year rent increases were fixed at I think 7 ot 8%
Pretty sure mine will go up