Mini budget

[baggiematt]

Hmmm, I'm no economics expert but I do know a little bit. You think cutting corporation tax will create jobs? I think the exact opposite.

The more corporation tax a company has to pay, the more financially beneficial it is for them to reinvest it back into the company - on things like new employees or infrastructure.

Raising corporation tax makes more sense to create jobs, not cutting it.

As for stimulating the economy, take a look at what most of the financial experts think of this mini budget. This benefits the top end of society, when its the bottom end that are in most need. This is typical Tory fantasy economics and PR Spin.

How they create this perception of being good for the economy is a myth. They have crushed growth in this country since coming to power, damaged our international credibility with Brexit and are leaving us with many times the debt they inherited from the last Labour government. They shouldn't be seen in power for decades to come, if the electorate had any sense about them.

There’s no fantasy behind the economics 123. Last time we had similar supply side economics under a right wing conservative government, it led to 16 years of economic boom. It was classic of the BBC today to present after each of Kwartengs initiatives to give someone’s opinion on why it wouldn’t work, but not the other experts who would think it would.

We’ve gone round in circles about the limitations put on the current government and you know as well as I do that thinking another party would have changed the circumstances is fantasy.

[mickd1961]

Is this holiday management company just in the area you have your holiday property or are they national? If they are national do you mind providing a link to them? Thanks for the advice Mick.

They are local to the Tenby area only 123 otherwise I’d be happy to give you their details.

You should have no problem finding the same sort of provider in your own area though by simply Googling.

On your point about Corporation Tax having no impact on jobs.

As an employer of ten people I can tell you that keeping this tax at 19% and reversing the National Insurance hikes has saved at least one job at my place and ensured some wage rises can be given that otherwise couldn’t have been afforded.

Those are simple facts and I’m sure this goes for many businesses.

[Omegstrat6]

I see how the tax cuts in this budget might lead to growth in some sectors as the rich get richer and the very rich, richer still. I'm sure that some in these brackets will invest more in their businesses and many more will have extra now to spend on properties or new cars or a further holiday abroad. What I cannot genuinely see is how the promised growth will come for the vast majority of the population.

The average wage in the UK is under £25k so will these tax cuts mean their employers will pass some of this on in wage rises? I think Mick may be an exception rather than the rule!. Will the cuts reduce the price of goods, including essential food and fuel? Will the tiny bit of money in the pockets of this wage bracket from any cuts really be enough to encourage them to spend more and fund over-all growth. I just can't see it.

Aside from the questions on the morality of this budget or the wisdom of funding it through at further borrowing, I really cannot see it achieving its purported aim.

[WBA123]

They are local to the Tenby area only 123 otherwise I’d be happy to give you their details.

You should have no problem finding the same sort of provider in your own area though by simply Googling.

On your point about Corporation Tax having no impact on jobs.

As an employer of ten people I can tell you that keeping this tax at 19% and reversing the National Insurance hikes has saved at least one job at my place and ensured some wage rises can be given that otherwise couldn’t have been afforded.

Those are simple facts and I’m sure this goes for many businesses.

Yeah I think the airbnb manager is where it succeeds or fails. If you find a good one it saves you a lot of hassle down the line.

As for corporation tax, I think that should be threshold much like PAYE. Companies who make millions in profit would see a financial incentive to reinvest than to pay the extra in corporation tax. But I do appreciate this will be welcome for companies who don't make that kind of profit.

[WBA123]

Also, just to show you who is really going to gain from today's budget. This from Keiran Maguire, the football finance expert...

"The average premier league player annual salary is £3.39m. Today's announcement means that their tax and NI bill will on average reduce by £184,000 per year"

[Albionic68]

Skim reading this thread is an unwelcome reminder of just how badly I've fkd up in life. Genuine and sincere congratulations to all who made the most beneficial decisions in life. Take care all 😎 .

[kettering_baggie]

Ah, who have made the beneficial decisions in life? I guess we won’t find out until we rattle those Pearly Gates and see if we’re let in!

[Omegstrat6]

How odd, was just having similar thoughts myself!😀😀

Have just got of the phone to one of my brothers. Both my younger brothers have been able to retire early, both have mortgages virtually paid off and can afford holidays abroad, nights out etc so are quite comfortable and both have worked bloody hard so deserve (like so many) to reap the rewards of their talents and efforts. I'm sadly having to get used to the fact that I will have to continue working until I'm 68 or whatever and that, realistically, I'm not going to have the earning power to now visit those places abroad I've longed to see. I have always worked hard and benefited from a good education but you have to deal with what life throws at you and count your blessings. Having a son with a disability meant we lost a big chunk of income when his mum had to give up work to care for him but it was absolutely the right thing to do. We were also integrating two families together at the time with the costs that raising kids obviously entails. We ultimately lost our house but now live in a beautiful part of the world and all our kids have done well for themselves and we are now also blessed with several grandchildren Yes, there are things I'd still like to do or have but, as the song goes, it's far more important to want what you have than have what you want!

[baggieal]

How odd, was just having similar thoughts myself!😀😀

Have just got of the phone to one of my brothers. Both my younger brothers have been able to retire early, both have mortgages virtually paid off and can afford holidays abroad, nights out etc so are quite comfortable and both have worked bloody hard so deserve (like so many) to reap the rewards of their talents and efforts. I'm sadly having to get used to the fact that I will have to continue working until I'm 68 or whatever and that, realistically, I'm not going to have the earning power to now visit those places abroad I've longed to see. I have always worked hard and benefited from a good education but you have to deal with what life throws at you and count your blessings. Having a son with a disability meant we lost a big chunk of income when his mum had to give up work to care for him but it was absolutely the right thing to do. We were also integrating two families together at the time with the costs that raising kids obviously entails. We ultimately lost our house but now live in a beautiful part of the world and all our kids have done well for themselves and we are now also blessed with several grandchildren Yes, there are things I'd still like to do or have but, as the song goes, it's far more important to want what you have than have what you want!

Good reading and well done you for so much care in looking after your son. I have seen many who are loaded but are miserable with miserable marriages so money is not everything!

Remember too - pointless having assets way over the inheritance tax threshold as no way round it - the tax man will take 40% inheritance tax.

Don’t get those who are financially comfortable who can retire but keep working until they drop! Mr Hays Travel was the perfect example who was wealthy beyond belief and dropped dead in the Hays HQ with a heart attack. This guy could have been on a cruise or something so what a saddo! Don’t understand those either who are loaded way over the inheritance tax threshold in their old age who don’t gift money to their kids. Some must be turning in their graves when HMRC take 40% inheritance tax! I know a couple who had a 900,000 house and the pot is almost empty as the kids are paying five grand a month each for care home fees. Good on the kids though for putting them in a luxury care home as opposed to thinking any inheritance will come their way!

The one sentence of your post is the best - kids have done well for themselves. That’s the main thing and any parent can sit back and take pride in how their kids have developed by their own education, talent or work ethic!

[Omegstrat6]

Whilst I have no real interest in having a large house, expensive car or sitting by a pool in some sunny clime, I must admit to being a ****y bit envious of those who can afford to travel but have no regrets on choices we made. As a parent, I totally agree with you that your greatest achievement is seeing your kids do well and be happy in life. As Mick alluded to In an earlier post, you cannot pick your kids friends or partners and sometimes this can put a spanner in the works, but hopefully, and with time, all the effort you put in earlier and the values you tried to instill will pay off.

Strange how people-even family members- h ave different values. Some place achievements in work/career above family and others value possessions and money differently. Can understand getting pleasure out of owning particular items or having certain experiences but cannot fathom those who seem to have things for the sake of having them almost. As you say, having money doesn't necessarily make you happy in itself and you cannot take it with you so if you have it try and use it wisely. I suppose having lots of money and deciding how to use it presents its own problems.

We all of us make mistakes and have doubtless done things we regret but, regardless of our material achievements in life, maybe it's more about how we lived our lives and Ketts is right about judgement day!😁