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UK Budget Day 2013


Sync

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Aug 27, 2009
Messages
28,845
Today is the day George Osborne's looking to cast off his millionaire background and set himself as a man of the people. Or something.

There are some expected outcomes from today, however much of the real fun will occur in June when the expected cuts he's going to announce today actually get set out by his cabinet colleagues.

George Osborne's 2013 budget to bring tax relief for lower income workers | UK news | The Guardian

Expected headlines:
1. Tax Free Allowance to be moved to £10,000 (A big big win for the LibDems)
2. 2.5 billion extra for capital projects
3. Fuel Duty increase either postponed or scrapped.
4. 2% cuts accross most Govt Depts.
5. Expansion of the plan helping people get on the property ladder.

And that seems to be it. This isn't going to be revolutionary at all, and it will be interesting to see what the reaction is.

At the moment there's a chronic shortage of confidence in Osborne held by everyone who's not David Cameron.

He set 4 objectives
1. Maintain the AAA rating (Seriously, can someone tell me why outside of vanity?)
2. Cut the deficit
3. Cut borrowing
4. Reducing the debt
5. Increasing growth.

They have failed every single one of these. It really is time he started listening to Vince Cable.
 

Ribeye

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Jul 12, 2011
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26,306
I'm no fan of Gideon, man of the people,

but Vince is an even bigger fool,

:)
 

Ribeye

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and what is ed balls solution to just throw money at problems and get the uk into further debt.
Yes, the Labour position is that they criticise the govt for increasing the deficit, and than say that if they got into power they would borrow even more,

The UK had an empire once, right?

:)
 

Sync

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Aug 27, 2009
Messages
28,845
and what is ed balls solution to just throw money at problems and get the uk into further debt.
I don't agree with Balls, but if this keeps up he's going to get a shot eventually. There's simply no counter argument to claims that Osborne has failed at every level.
 

Kevin Parlon

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Dec 4, 2008
Messages
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Twitter
Deiscirt
I don't agree with Balls, but if this keeps up he's going to get a shot eventually. There's simply no counter argument to claims that Osborne has failed at every level.
Putting the welfare genie back in the bottle is going to take generations. And it will take a lot of balls (the non Labour kind of course) to achieve it. It isn't called the European Debt Crisis for nothing. The welfare cap was a great start.
 

Ribeye

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Jul 12, 2011
Messages
26,306
He joined Twitter this morning,

@George_Osborne 
 

Maximilian

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Feb 11, 2004
Messages
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I am surprised that there isn't more activity on this thread......Anyway, Osborne has just announced that in April 2015 the UK corporation tax rate will be lowered to 20%, thus narrowing the gap with our 12.5% rate. Will this have any effect on Ireland?
 

Rufty

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Joined
Oct 7, 2006
Messages
445
Did I hear right? Tax credits for fracking? Bad, bad, bad move Tories.
 

Betson

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Feb 7, 2013
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16,685
Any chance of changes to any of the UK Vat rates today , or would something like that have to signaled well in advance?
 

Ulster-Lad

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Oct 26, 2006
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Any chance of changes to any of the UK Vat rates today , or would something like that have to signaled well in advance?
I think I heard them say they were going to lower corporation tax 1%. I did not hear anything on VAT though.
 

Ulster-Lad

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Oct 26, 2006
Messages
10,092
Any chance of changes to any of the UK Vat rates today , or would something like that have to signaled well in advance?
Here are the Tax bits from the Guardian.

[h=2]Tax[/h]• The personal allowance will be raised to £10,000 from next year, not from 2015 as previously planned.
• Corporation tax will be reduced by a 1% to 20% in April 2015 to show "Britain is open for business". But the bank levy rate will increase to 0.142% to offset this reduction.
• The capital gains tax holiday is to be extended.
• New measures on tax avoidance and evasion will bring in £3bn in unpaid taxes.
Budget 2013 - key points live | UK news | guardian.co.uk
 

devoutcapitalist

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Feb 26, 2013
Messages
16,607
So with corporation tax due to fall to 20% in Britain by 2015 I wonder how many multinantionals based in Ireland must be considering relocating to Britain.
 

TheLastLazyGun

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Joined
Apr 8, 2012
Messages
1,163
So with corporation tax due to fall to 20% in Britain by 2015 I wonder how many multinantionals based in Ireland must be considering relocating to Britain.
They'll pay more tax in Britain than in Ireland.
 

Crack hoe

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Joined
Nov 13, 2012
Messages
1,317
can't wait to drink my 360th pint so I can get a free one.
pointless gesture.
its like the blind leading the blind.
 

Mackers

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Joined
Jan 24, 2011
Messages
5,526
Just your typical Tory smoke and mirror job. 1p off a pint, lower tax from the rich, ordinary working people shafted. The old Etonian Bullington boys looking after their city yaboo mates. So what's fxxking new?
 
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