Top 5 financial things to do before labour get in?
Discussion
PositronicRay said:
I remember the wailing and gnashing of teeth before his Tonyness took office.
Life went on as normal.
Yes, just that awkward rise in unemployment war in Iraq and headlong into Europe “thing” only saved by Gordon Browns “stubbornness “ that stopped us adopting the Euro. Life went on as normal.
Essarell said:
Yes, just that awkward rise in unemployment war in Iraq and headlong into Europe “thing” only saved by Gordon Browns “stubbornness “ that stopped us adopting the Euro.
Uhuh, and the last 14 years have been a panacea of sunny uplands.... It's become a case of which party is least bad, and while Labour left a note saying "there is no money" government debt is now about 30% higher as a percentage of gdp with an economy which is only growing at all due to immigration, and public services are at best creaking, at worst unfit for purpose. Raising debt to invest in infrastructure is forgivable, raising debt so pensioners can have a pay rise while the NHS is falling apart (literally, in the case of many hospitals) is unforgivable.
borcy said:
That’s 3 days old and there’s been a lot of discussion subsequently about whether Ashworth misspoke. Condi said:
Essarell said:
Yes, just that awkward rise in unemployment war in Iraq and headlong into Europe “thing” only saved by Gordon Browns “stubbornness “ that stopped us adopting the Euro.
Uhuh, and the last 14 years have been a panacea of sunny uplands.... It's become a case of which party is least bad, and while Labour left a note saying "there is no money" government debt is now about 30% higher as a percentage of gdp with an economy which is only growing at all due to immigration, and public services are at best creaking, at worst unfit for purpose. Raising debt to invest in infrastructure is forgivable, raising debt so pensioners can have a pay rise while the NHS is falling apart (literally, in the case of many hospitals) is unforgivable.
t Condi said:
Essarell said:
Yes, just that awkward rise in unemployment war in Iraq and headlong into Europe “thing” only saved by Gordon Browns “stubbornness “ that stopped us adopting the Euro.
Uhuh, and the last 14 years have been a panacea of sunny uplands.... It's become a case of which party is least bad, and while Labour left a note saying "there is no money" government debt is now about 30% higher as a percentage of gdp with an economy which is only growing at all due to immigration, and public services are at best creaking, at worst unfit for purpose. Raising debt to invest in infrastructure is forgivable, raising debt so pensioners can have a pay rise while the NHS is falling apart (literally, in the case of many hospitals) is unforgivable.
In the late 90s we had a budget SURPLUS! Imagine that! We could actually pay down debt (and i mean that for real, not the bending of the truth that they use nowadays where "paying down debt" is used by the clueless MPs and reporters to mean cutting the debt to GDP ratio).
The utter waste of our money that's happened over the last 27 years now means we really are broke
The cost of the Millenium Dome, Brexit (and associated legal wrangling), HS2, furlough, eat out to help out, the triple lock (and now triple lock plus), the ballooning of the public sector in non-front-line jobs, terrible PFI contracts, Rwanda, to name but a few.
They're all guilty of it.
Tim Cognito said:
Brett748 said:
Asked what he meant by working people, Sir Keir told LBC on Tuesday: "People who earn their living, rely on our [public] services and don't really have the ability to write a cheque when they get into trouble."
This statement is what concerns me. Essentially, people who have savings.
Of course my worries come purely on the back of mainstream media but short of a coffee with Sir Keir, I have no other information to base my concern upon.
Sounds to me there will be moves towards equalising the tax rates between earned and unearned income e.g dividends, capital gains, possibly BTL etcThis statement is what concerns me. Essentially, people who have savings.
Of course my worries come purely on the back of mainstream media but short of a coffee with Sir Keir, I have no other information to base my concern upon.
Dividend income has already been subject to corporation tax, but wage income hasn't. As someone who's owned a business the net position between income and dividends is minimal.
borcy said:
I think labour want to keep the definitions of working people vague so as not to get bogged down in interviews re/defining it.
I don't think breaking through the LTA (which has gone?) makes you super rich, but it would put you in the top few % in retirement.
It's not as simple as that. LTA had been reducing since it was introduced, and inflation is making that worth less. How much will 1m be relatively when you retire, and how much when you're a decade into retirement?I don't think breaking through the LTA (which has gone?) makes you super rich, but it would put you in the top few % in retirement.
Jawls said:
borcy said:
That’s 3 days old and there’s been a lot of discussion subsequently about whether Ashworth misspoke. 
NRS said:
That website is pretty amusing.
Well, interesting more and more main media outlets also reporting on the subject of "leavers" now.https://www.ft.com/content/8bdd74b2-b8f6-4439-897c...
ooid said:
NRS said:
That website is pretty amusing.
Well, interesting more and more main media outlets also reporting on the subject of "leavers" now.https://www.ft.com/content/8bdd74b2-b8f6-4439-897c...
borcy said:
ooid said:
NRS said:
That website is pretty amusing.
Well, interesting more and more main media outlets also reporting on the subject of "leavers" now.https://www.ft.com/content/8bdd74b2-b8f6-4439-897c...
LowTread said:
We've had 27 years of mismanagement and lining of pockets IMO. That, and following ideology over what's best for the day-to-day needs of the country.
In the late 90s we had a budget SURPLUS! Imagine that! We could actually pay down debt (and i mean that for real, not the bending of the truth that they use nowadays where "paying down debt" is used by the clueless MPs and reporters to mean cutting the debt to GDP ratio).
The utter waste of our money that's happened over the last 27 years now means we really are broke
The cost of the Millenium Dome, Brexit (and associated legal wrangling), HS2, furlough, eat out to help out, the triple lock (and now triple lock plus), the ballooning of the public sector in non-front-line jobs, terrible PFI contracts, Rwanda, to name but a few.
They're all guilty of it.
What was worse was that when we had a budget surplus Brown had an unexpected £2-3bn windfall from selling mobile internet air space licences. So we had this windfall on top of the surplus and still managed to get to where we are now.In the late 90s we had a budget SURPLUS! Imagine that! We could actually pay down debt (and i mean that for real, not the bending of the truth that they use nowadays where "paying down debt" is used by the clueless MPs and reporters to mean cutting the debt to GDP ratio).
The utter waste of our money that's happened over the last 27 years now means we really are broke
The cost of the Millenium Dome, Brexit (and associated legal wrangling), HS2, furlough, eat out to help out, the triple lock (and now triple lock plus), the ballooning of the public sector in non-front-line jobs, terrible PFI contracts, Rwanda, to name but a few.
They're all guilty of it.
Martin Lewis (on ITV this morning) was trying to get the Labour Work and Pensions Minister to say if they would remove 25% he tax free allowance on pensions. All we got was the well rehearsed "it's not in the manifesto/no plans" speech...
https://www.express.co.uk/finance/personalfinance/...
If you're 55+ bear that in mined if you havent already factored it into your retirement plans. I'm in the fortunate position to have already taken mine.
https://www.express.co.uk/finance/personalfinance/...
If you're 55+ bear that in mined if you havent already factored it into your retirement plans. I'm in the fortunate position to have already taken mine.
98elise said:
Martin Lewis (on ITV this morning) was trying to get the Labour Work and Pensions Minister to say if they would remove 25% he tax free allowance on pensions. All we got was the well rehearsed "it's not in the manifesto/no plans" speech...
https://www.express.co.uk/finance/personalfinance/...
If you're 55+ bear that in mined if you havent already factored it into your retirement plans. I'm in the fortunate position to have already taken mine.
Tks .https://www.express.co.uk/finance/personalfinance/...
If you're 55+ bear that in mined if you havent already factored it into your retirement plans. I'm in the fortunate position to have already taken mine.
I'm waiting to see what happens as my understanding is that it wont take immediate effect, instead you'll get fair warning .
If its a gradual reduction then i'll remove that portion in advance if that makes sense.
Esquire said:
Tks .
I'm waiting to see what happens as my understanding is that it wont take immediate effect, instead you'll get fair warning .
If its a gradual reduction then i'll remove that portion in advance if that makes sense.
My FA gave me the same understanding. I'm waiting to see what happens as my understanding is that it wont take immediate effect, instead you'll get fair warning .
If its a gradual reduction then i'll remove that portion in advance if that makes sense.
However I wasn’t prepared to risk it.
I’m not so sure anything “ fair “ is necessarily going to be the outcome unless Labour actively want people withdrawing it in advance of any closure to quickly spend it ?
alscar said:
My FA gave me the same understanding.
However I wasn’t prepared to risk it.
I’m not so sure anything “ fair “ is necessarily going to be the outcome unless Labour actively want people withdrawing it in advance of any closure to quickly spend it ?
Did you take the full 25%? However I wasn’t prepared to risk it.
I’m not so sure anything “ fair “ is necessarily going to be the outcome unless Labour actively want people withdrawing it in advance of any closure to quickly spend it ?
Not sure Labour want anymore than future tax rises through pensions tbh.
Esquire said:
Did you take the full 25%?
Not sure Labour want anymore than future tax rises through pensions tbh.
I had taken already a very small percentage but yes have now asked for the full 25%. Not sure Labour want anymore than future tax rises through pensions tbh.
Paperwork signed.
Money is going to my 3 children as house funds / early inheritance.
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