The_vp6

Standing in for The_VP5 whilst he's off sick.

[The_vp6 @the_vp6]

@Ye_Olde_Holborn Society has gone so far backwards. Depressing.

[The_vp6 @the_vp6]

@ToryRebuttal There was a BBC broadcast in 1999 or 2000, I forget where it was basically an hour of solid justification by Tony Blair for hiking spending, and getting the public on board, I keep trying to find it, but I swear that is the exact point it all went wrong. I'm determined to find it

[The_vp6 @the_vp6]

It's going to be thin gruel for years even if all Labour's plans work.

We need a different direction, this ain't it.

[Institute for Fiscal Studies @TheIFS]

The last parliament, including a pandemic and cost of living crisis, saw per capita disposable household income rise by just 0.3% per year.

But the forecast for the current parliament suggests that it will be the second worst on record for household incomes.

#Budget2024

[The_vp6 @the_vp6]

@ToryRebuttal In the 90's all I remember is tax dropping almost every budget, duties frozen, budgets were generally a great occasion where the worst thing you had to do was fill up your tank the night before. We got left alone and the country got richer.

[The_vp6 @the_vp6]

@davidwhitelab @s8mb £40bn / 21m working households = £1,904.

Pretty accurate prediction.

[The_vp6 @the_vp6]

@PolitlcsUK The fat is between her ears.

[The_vp6 @the_vp6]

@Summers_AD That isn't what the treasury said, they said in 25/26 of the 3,000 estates will be unaffected and 2,000 affected.

The actual facts are here (not in a tweet);
https://t.co/edKBnr4c3A

[The_vp6 @the_vp6]

@SelfKaz 'No rise in NI' - did you watch the same budget as me?

[The_vp6 @the_vp6]

@andyverity For somebody who 'busts myths' can you not see that graph does not include any second order effects of increasing employers NI? The OBR say 76% of that is passed on through lower wages, and the rest through higher prices.

Do better.

[The_vp6 @the_vp6]

@willglloyd Try getting your head around the words "second order effects".

When the government add costs to businesses they pass it on through lower wages and higher prices.

The losers here will be anybody who is paid by wages.

[The_vp6 @the_vp6]

@financial_shaw Reductions in build-to-let properties coming to the market will reduce supply and increase prices, yo need to stop pretending that the taxation and regulation does anything other than increase prices in a market.

[The_vp6 @the_vp6]

Same people will be complaining about wage stagnation in two years time.

[The_vp6 @the_vp6]

@BurnsideWasTosh @Enchanter4life 110%, they need punishing for voting Labour.

[The_vp6 @the_vp6]

If you have to get a pay rise not from the fruits of your labour but because the government demand it, you don't deserve the job.

[John Bull @larrymeath]

If you cannot afford to pay the National Minimum Wage then you should not be in business.
It really is as simple as that.

[The_vp6 @the_vp6]

@NotHaryan It's not that I think they are irrelevant, they are serving a purpose, I just think they will be irrelevant when the next election comes around. I don't see anything new.

[The_vp6 @the_vp6]

@Ye_Olde_Holborn Make sure you accrue those tax credits against corporation tax if your company loses money because of the extortionate loan it's been provided 👍

[The_vp6 @the_vp6]

The market provides solutions to mistakes of the government.

[Paul Johnson @PJTheEconomist]

I'm not sure I understand choice to get so much of the employer NIC increase by cutting the threshold. It hits employers of the low paid much harder than others. Put alongside big rises in minimum wage and costs of employing low earners will rise a lot.

[The_vp6 @the_vp6]

@AlexioSmithos @ACORNunion Be sure to tip your landlord and send him a Christmas card, just to show appreciation for all his hard work 👍

[The_vp6 @the_vp6]

@NotHaryan New rules on student dependents will have taken a lot off.

[The_vp6 @the_vp6]

Looks like I will be holding cash for the next year or so before investing it, get a decent return and wait for property prices to decline.

[Moving Home with Charlie @moving_charlie]

Gilt selloff immediately after budget has pushed yields back up. Bad news for mortgage rates if they stay up there.

Also, chances of another interest rate cut now very small in my view, given the OBR inflation forecast for next year.