"Average Earnings Growth" and triple lock

Cobbler_tone

Dazed_and_C0nfused said:

Qyburn said:

The statement being quoted goes ..

"The government will ease the administrative burden for pensioners whose sole income is the basic or new State Pension without any increments so that they do not have to pay small amounts of tax via Simple Assessment"

They're promising to ease the "administrative burden", not necessarily the tax burden. And pensioners won't have to pay small amounts of tax "via Simple Assessment", that's not the same as saying they won't pay it at all.

Logically if they weren't going to be taxed, there's no "administrative burden" to be eased.

Although RR has now said to Martin Lewis that they would not need to pay any tax, which is clearly different to Wednesday's announcement.

There are plenty of examples (which don’t need listing) which demonstrate that something will/won’t necessarily happen because they once said it.

artyboy

Grumpy_chap said:

QrizB said:

An early election would fix that - "this parliament" could end in ealy 2026

Whilst there is no indication that the next GE will be as soon as that, it does have to be held by summer 2029.
If the current incumbents consider things to be going well, we might reasonably expect the GE to be summer 2028.
If the current incumbents consider things to be going less well, we might reasonably expect the GE to be summer 2029.

Either way, the cynic might interpret the measures announced in this budget with delayed implementation as laying a series of traps:

• eVED from April 2028
• salary sacrifice changes from April 2029
• SP (only) incomes protected from tax until 2030

At the risk of giving the mods a pretext to lock this by making a political comment, bear in mind that the 2011 Fixed Term Parliament Act removed the government's discretion to call a GE whenever they want. 

Obviously they can pass a law to allow it in 2028, but otherwise it's definitely going to be 2029zzz

Grumpy_chap

artyboy said:

At the risk of giving the mods a pretext to lock this by making a political comment, bear in mind that the 2011 Fixed Term Parliament Act removed the government's discretion to call a GE whenever they want. 

Obviously they can pass a law to allow it in 2028, but otherwise it's definitely going to be 2029zzz

2011 Fixed Term Parliament Act.
Repealed in 2022.
Keep up

hugheskevi said:

I do worry this is another well-intentioned measure that will end up being extremely hard to remove.

Yes, it will only need one lot vying for votes to say something like "we will continue to protect those with only the SP from income tax" and the rest will follow in line and, thus, another principle like the triple lock has been created or, call it the Quadruple Lock as mentioned in another thread.

artyboy

Grumpy_chap said:

artyboy said:

At the risk of giving the mods a pretext to lock this by making a political comment, bear in mind that the 2011 Fixed Term Parliament Act removed the government's discretion to call a GE whenever they want. 

Obviously they can pass a law to allow it in 2028, but otherwise it's definitely going to be 2029zzz

2011 Fixed Term Parliament Act.
Repealed in 2022.
Keep up

hugheskevi said:

I do worry this is another well-intentioned measure that will end up being extremely hard to remove.

Yes, it will only need one lot vying for votes to say something like "we will continue to protect those with only the SP from income tax" and the rest will follow in line and, thus, another principle like the triple lock has been created or, call it the Quadruple Lock as mentioned in another thread.

Doh! Oh well, bring it on. Sooner the better.

Silvertabby

jem16 said:

Silvertabby said:

onomatopoeia99 said:

JoeCrystal said:

So basically anyone with high SERPs/2SP and deferred as it's only source of income is going to be a winner. Silvertabby's friend must be so happy at the moment if it is only source of income! 😁

No, the budget document says "with no increments" so any of those things you list get you excluded from the income tax exemption.

But what people are picking up on is what Rachel Reeves said to Martin Lewis - ie, that 'those on just the State pension won't pay tax'.

WE know what she said isn't what she meant - but she'll still have to do some backtracking to knock this rumour on the head !

If you listen carefully Rachel Reeves didn’t actually say that. Those were Martin Lewis’ words. 

Agree - but this has Chinese Whispered into 'those on just the State pension won't pay tax' - and this Whisper has long legs.  

BikingBud

Unfortunately it is all part of the pantomime.