Re: Budget 2013 : Wed Mar 20, 2013 3:58 pm  

Durham Giant wrote:

working in the public sector and with the pat freezes etc i will have had wage rises of 3% in the five years of this government with inflation running at 2.5 % to 3 % per year over the same five years i will have had a a 9 to 12% cut in income during the five years of the government.

No wonder i am not spending any money to get the economy moving

If you're in a public sector defined benefit pension scheme, you'll also be paying more in NI to cover it

Re: Budget 2013 : Wed Mar 20, 2013 4:13 pm  

Seeing Danny Alexander trying to defend it was pathetic.
Those in the studio had him for breakfast. The look on their faces was 'You haven't really got a clue have you matey boy'

[John_D]

Re: Budget 2013 : Wed Mar 20, 2013 4:16 pm  

rover49 wrote:

Wasn't meant as a dig or pissing contest.

Sorry. I've just become so used to the line about "we may be shafting you really quite hard, and with sand in the lube, but private sector employees have take their shafting, so you see it's the only choice we had" which is clearly designed to turn the shafted on each other rather than against the shaftee.

Re: Budget 2013 : Wed Mar 20, 2013 4:21 pm  

Anakin Skywalker wrote:

Seeing Danny Alexander trying to defend it was pathetic.
Those in the studio had him for breakfast. The look on their faces was 'You haven't really got a clue have you matey boy'

Makes a change from sending poor Chloe Smith out to face Paxo though.

As soon as Alexander appeared I tweeted this:

codhead99 ‏@codhead99

Hope they've got the tissues handy, Danny Alexander looks like he'll burst into tears

Re: Budget 2013 : Wed Mar 20, 2013 4:28 pm  

Looks like his clamp down on LLPs could be about to unravel anytime soon: Richard Murphy Omnishambles II anyone?

Looks like his clamp down on LLPs could be about to unravel anytime soon: Richard Murphy Omnishambles II anyone?

Re: Budget 2013 : Wed Mar 20, 2013 4:29 pm  

Durham Giant wrote:

working in the public sector and with the pat freezes etc i will have had wage rises of 3% in the five years of this government with inflation running at 2.5 % to 3 % per year over the same five years i will have had a a 9 to 12% cut in income during the five years of the government.

No wonder i am not spending any money to get the economy moving

Lucky you, my last pay rise was in 2006 - in 2008 I took a 30% DECREASE in my salary.

And I havent made a pension contribution for at least eight years - AND the pension fundholder has been helping himself to a portion of it during that time.

Moan almost over.

Re: Budget 2013 : Wed Mar 20, 2013 4:50 pm  

Personal allowance to increase to £10,000 next year.

So £650 a year better off, or thereabouts?

Re: Budget 2013 : Wed Mar 20, 2013 5:03 pm  

The Video Ref wrote:

Personal allowance to increase to £10,000 next year.

So £650 a year better off, or thereabouts?

No, you'll be 20% of £650 a year better off, or £130. But how much better off anyone will be depends on what you earn. He intends to lower the higher rate threshold to £41,865 so 40% taxpayers will only be £83 a year better off.

He's also tapering off the personal allowance for those on £100k at a rate of £1 for every £2 above £100k, so at £120k there'll be no personal allowance at all.

We've yet to see if he's dragging anything back in increased NI contributions

Re: Budget 2013 : Wed Mar 20, 2013 5:50 pm  

cod'ead wrote:

No, you'll be 20% of £650 a year better off, or £130. But how much better off anyone will be depends on what you earn. He intends to lower the higher rate threshold to £41,865 so 40% taxpayers will only be £83 a year better off.

He's also tapering off the personal allowance for those on £100k at a rate of £1 for every £2 above £100k, so at £120k there'll be no personal allowance at all.

We've yet to see if he's dragging anything back in increased NI contributions

I got a C at GCSE maths and have never given it any serious thought since. My trail of thought is as follows:

Tax is roughly 20%. So the tax they would have taken on that £3000 is about £600.

By not taking tax on that £3000 the average tax payer is thus £600 better off, no?

If you disagree please explain why and show working (as they would say in exams) .

Re: Budget 2013 : Wed Mar 20, 2013 6:18 pm  

The Video Ref wrote:

I got a C at GCSE maths and have never given it any serious thought since. My trail of thought is as follows:

Tax is roughly 20%. So the tax they would have taken on that £3000 is about £600.

By not taking tax on that £3000 the average tax payer is thus £600 better off, no?

If you disagree please explain why and show working (as they would say in exams) .

OK.

If you are earning £20,000 from April 2013, you will pay £20000 minus £9440 = £10560 x 20% = £2112 tax

If you are earning £20,000 from April 2014, you will pay £20000 minus £10000 = £10000 x 20% = £2000 tax

So you are actually only £112 pa or £2.15 per week better off