The Budget

[ToffeeTim]

Not massively affected by today's budget but happy with the Personal Allowance rise. As someone on a pretty basic first job out of uni wage, all tax breaks are welcome. Still confused to this day how you can earn the so called ''minimum wage'' but still be liable to Income Tax.

 

[daylightrobber]

Last year Gideon made a big deal about the fact that he was going to start taxing so-called 'non-doms' - who can currently dodge UK income and capital gains taxes by being legally domiciled somewhere else.

Turns out in this budget he's let them off after all.

They'll now only have to pay tax on gains they make after April 2017 - when they officially lose their non-dom status.

That means they've got a year to shift their assets without paying any tax.

 

[roydo]

Fair play mate. Nowt wrong with it, tbf - It's natural to just get on with the rat race.

Oh no, I jumped that ship last year.

No need for a biography, but basically pretty happy with my lot, and happy/lucky that a few plates span well enough for me to pretty much do what I like, work wise, from now on.

 

[The Cowboy]

On the whole Brexit thing, I was talking last week with the head of driverless technology at Volvo, and he was talking at length about the need for this technology to be developed collaboratively. It simply won't work if Britain has one set of standards, France another, Germany another, China some more. This kind of global cooperation seems increasingly common, whether it's for driverless technology, climate change, intelligence and so on. I'm not sure, therefore, why you'd want to say thanks but no thanks to being involved in that.

I appreciate it's off topic though, so yeah, that Osborne bloke huh? *waves fist*

And what does any of that have to do with Brexit? No-one is proposing we suddenly cut ourselves off from the outside world.

 

[PITA]

The Clinton administration decided credit scoring was racist and discriminatory so forced banks to change their lending criteria. This led to cletus and jamal being able to secure credit cards, mortgages etc etc even though they were on a low wage, throw in the likes of PPI and other rip offs the banks were raking it in on the subprime lending market.

As often happens the idea caught on over here Northern Rock for example would give Spuggy Mchorsepuncher a 150% mortgage despite him working for minimum wage.
All well and good but the reason Cletus Jamal and wor Spuggy need the rules bending is because they aren't very good with money and given the choice between watching the toon and paying bills the toon won every time, him and many others left banks with billions of toxic debt that was never going to be repaid.

Alternatively, banks tranched the hell out of ABSs, sold the lower yielding tranches and kept the high yield equity tranches for themselves. Not because they couldn't shift it but because it was high yield.

 

[The Cowboy]

Not massively affected by today's budget but happy with the Personal Allowance rise. As someone on a pretty basic first job out of uni wage, all tax breaks are welcome. Still confused to this day how you can earn the so called ''minimum wage'' but still be liable to Income Tax.

Because you have an income?

Never really under the point of the personal allowance. Dunno why they don't just scrap it, and force employers to adjust salaries so it works out the same as we get now. Seems like an unnecessary hassle to me.

 

[roydo]

Because you have an income?

Never really under the point of the personal allowance. Dunno why they don't just scrap it, and force employers to adjust salaries so it works out the same as we get now. Seems like an unnecessary hassle to me.

Cos the personal allowance doesnt just apply to folk earning through PAYE?

Pension income, (some) investment income, self employed. All have the same, or similar, nil rate band.

 

[Whistlin' Dixie]

Oh no, I jumped that ship last year.

No need for a biography, but basically pretty happy with my lot, and happy/lucky that a few plates span well enough for me to pretty much do what I like, work wise, from now on.

Nice one!

While I confess to being a wee bit envious, I doubt I could ever be as content and uninvolved(?) if I was in your shoes. Just not my nature to distance meself from inequality.

I'm not saying you are doing that, just that I wouldn't. Guess I just like to 'keep me hand in', as it were...

 

[roydo]

Nice one!

While I confess to being a wee bit envious, I doubt I could ever be as content and uninvolved(?) if I was in your shoes. Just not my nature to distance meself from inequality.

I'm not saying you are doing that, just that I wouldn't. Guess I just like to 'keep me hand in', as it were...

Nor mine. But my battles with it are very close to home.

 

[Whistlin' Dixie]

Nor mine. But my battles with it are very close to home.

I gets ya, Roydo - mine too. The vast majority of them started by the current tories - The vast majority of the rest by the previous tory Govt.

 

[roydo]

I gets ya, Roydo - mine too. The vast majority of them started by the current tories - The vast majority of the rest by the previous tory Govt.

Cant say I have really noticed a massive difference between whoever has been in government mate. On a personal level anyrate.

Been a battle to get the various bits and bobs out of the different services for nearly 20 years. But thanks mainly to the support of some superb LA folk, and my frankly tigerish ex wife, (but good friend, long story), our lad, at the time of writing, seems to be getting the next bit squared off.

 

[chewee]

Blimey YouGov have Labour AHEAD tonight in the polls. A staggering turnaround considering at one point towards the end of last year they trailed by 11 points.

 

[dandydan]

Blimey YouGov have Labour AHEAD tonight in the polls. A staggering turnaround considering at one point towards the end of last year they trailed by 11 points.

The last election showed polls are a load of bullshine!

 

[Bruce Wayne]

And what does any of that have to do with Brexit? No-one is proposing we suddenly cut ourselves off from the outside world.

A big part of the argument for leaving is to retain sovereingty, but we are already part of hundreds of international treaties that erode that, and as the world becomes more connected, it's likely to become more so. I just think it dumbs it down a bit by using that as an argument for leaving.

 

[The Cowboy]

A big part of the argument for leaving is to retain sovereingty, but we are already part of hundreds of international treaties that erode that, and as the world becomes more connected, it's likely to become more so. I just think it dumbs it down a bit by using that as an argument for leaving.

If we're already part of hundreds of international treaties then being part of the EU or not seems pretty irrelevant.