Page 2 of 14 FirstFirst 1 2 3 4 12 ... LastLast
Results 11 to 20 of 135

Thread: Mini Budget

  1. #11
    Join Date
    Aug 2008
    Location
    W.A.
    Posts
    20,976
    Thanks (Given)
    11527
    Thanks (Received)
    12194
    Likes (Given)
    17180
    Likes (Received)
    67298

    Default Re: Mini Budget

    #10 Similar as yourself Keith and I reckon if I had stayed in the UK I would still be paying off my mortgage . Here most workers get a lump sum payment called Super on retirement from work and can pay off all debts . The OAP although people complain about is liveable on without too many luxuries , so the bums and stiffs you see here are there through the fault of themselves in the long run. If you can work you are not going to starve or live on the streets. It is mostly self inflicted. JS
    R575129

  2. #12
    Join Date
    Mar 2022
    Location
    Prenton
    Posts
    609
    Thanks (Given)
    101
    Thanks (Received)
    319
    Likes (Given)
    514
    Likes (Received)
    1221

    Default Re: Mini Budget

    Average house price in the UK in 1970 was 4054, Average house price today is 295,000. Kids are having problems enough trying to save for a deposit for there first home. Those who have managed to get on the property ladder the last thing they need is increasing interest rates which will impact their mortgage repayments. If interest rates keep rising and homes are being reposessed by banks and building societies only to be sold off at knock down rates so fat cats can buy them to rent out to those who used to own them. No doubt the Bankers will get a dam good bonus for making people homeless.
    I for one am not interested in seeing kids made homeless as interest rates go up so the elderly can get a few quid more interest.

  3. #13
    Join Date
    Mar 2010
    Location
    USA
    Posts
    2,041
    Thanks (Given)
    2069
    Thanks (Received)
    2559
    Likes (Given)
    3072
    Likes (Received)
    5587

    Default Re: Mini Budget

    Johno re #7 and US tax rate:

    Sorry mate but the US does not have a flat tax rate:

    Federal tax rate.

    Taxable income bracket

    Tax owed

    10%

    $0 to $9,950

    10% of taxable income

    12%

    $9,951 to $40,525

    $995 plus 12% of the amount over $9,950

    22%

    $40,526 to $86,375

    $4,664 plus 22% of the amount over $40,525

    24%

    $86,376 to $164,925

    $14,751 plus 24% of the amount over $86,375

    32%

    $164,926 to $209,425

    $33,603 plus 32% of the amount over $164,925

    35%

    $209,426 to $523,600

    $47,843 plus 35% of the amount over $209,425

    37%r

    $523,601 or more

    $157,804.25 plus 37% of the amount over $523, 601.

    This is taxable income net after deductions. a basic deduction for single or married with dependents etc.

    or you can itemize deductions such as interest paid etc.

    In addition, we have a state income tax which varies depending on your states rate, a graduating scale with a max of 5% in Oklahoma.

    Cheers, Rodders

  4. Thanks happy daze john in oz thanked for this post
  5. #14
    Join Date
    Mar 2022
    Location
    Prenton
    Posts
    609
    Thanks (Given)
    101
    Thanks (Received)
    319
    Likes (Given)
    514
    Likes (Received)
    1221

    Default Re: Mini Budget

    Rumblings afoot on the tory back benches. Letters being drafted for a vote of no confidence in the new PM.
    Spotted the above in a Independent comment. https://www.msn.com/en-gb/news/uknew...6eb057889e3e19
    Very quiet from the back bench members here.

    Anyone see the chancer ilor being pestered on the news this morning while walking somewhere or other. Looked very sheepish and may have actually turned a bit pale.
    Last edited by James Curry; 26th September 2022 at 11:03 PM.

  6. Likes Tony Taylor liked this post
  7. #15
    Join Date
    Aug 2008
    Location
    W.A.
    Posts
    20,976
    Thanks (Given)
    11527
    Thanks (Received)
    12194
    Likes (Given)
    17180
    Likes (Received)
    67298

    Default Re: Mini Budget

    1970 the wages were what ? And interest rates were 8 % , a lot of crap is being stirred here. Get used to it your still better off today. If your worried about the kids then give them some of yours. JS.
    Last edited by j.sabourn; 27th September 2022 at 12:03 AM.
    R575129

  8. Thanks cappy thanked for this post
    Likes vic mcclymont, cappy liked this post
  9. #16
    Join Date
    Jun 2008
    Location
    Sunbury Victoria Australia
    Posts
    22,741
    Thanks (Given)
    6977
    Thanks (Received)
    9240
    Likes (Given)
    95705
    Likes (Received)
    41093

    Default Re: Mini Budget

    In 1970 bought the first house for 4500 and had interest at 3% on a special gov deal for low income earners.
    I was on about 50 a week then.

    As percentage there is very little difference in prices today.
    Same problem here in Oz, young say they cannot get into the housing market, what a load of bull dust.
    Problem for many is they was a property that needs a $10,000 per week wage to buy it when they are only on a $6000 wage.

    Low pound is good for exports.
    According to polls Labor is well head in UK, which means maybe a new gov in 2024 with the same problems and I doubt any better ideas to fix them.

    Here in Oz we have a mini budget next month.
    We are told the gov will ensure multi national companies pay more tax.

    Couple of small problems there.
    These companies can afford to employ the smartest accountants across the globe, men who know more legal ways to reduce tax liability than any gov ever thought of.
    The if you push such companies too hard they move off shore to lower taxing nations.

    But the latest figures from an international finance business shows that Australia is the wealthiest nation there is.
    We have amongst our 26 million some 2.2 million millionaires.
    But there are also more who like us are asset rich but income poor.
    With our house and money in superannuation etc we are in the millionaire bracket.
    Happy daze John in Oz.

    Life is too short to blend in.

    John Strange R737787
    World Traveller

  10. Likes thomas michael liked this post
  11. #17
    Join Date
    Apr 2011
    Location
    Long Eaton
    Posts
    5,016
    Thanks (Given)
    734
    Thanks (Received)
    5313
    Likes (Given)
    13933
    Likes (Received)
    16236

    Default Re: Mini Budget

    A lot of uniformed nonsense posted on this posting.
    Last night Ken Clarke ex chancellor and an economist were interviewed.
    Ken said the taking a penny off tax rates was wrong as more people would pay more tax. He would have raised the tax bands making more people pay less tax.
    Both agreed insignificant amounts of money was lost due to lowering tax to 40%.
    Both generally agreed the badge wasn't that bad.
    Under the Torys energy price cap is for two years, Labour was for six months and wasn't fully funded -its Labour so what's new?
    Over to fairy land where Rachal Reeves the would be Labour chancellor is going to hire extra doctors, extra nurse by raising the tax back from 40% to. 45%. How many will she hire with insignificant amount raised.
    She went on to say Labour will do this do that, not one word of where the money is coming from, will she use labour's magic money tree, oh she can't 'cause Labour's money tree is empty as their promises.
    Vic
    Last edited by vic mcclymont; 27th September 2022 at 08:08 AM.

  12. #18
    Join Date
    May 2012
    Location
    Lincolnshire ex Liverpool
    Posts
    1,803
    Thanks (Given)
    518
    Thanks (Received)
    1502
    Likes (Given)
    2277
    Likes (Received)
    6746

    Default Re: Mini Budget

    The pound sterling is now worth a little over one US dollar, interest rates for borrowing have risen to four and half percent predicted to rise even further. At the present rate it will add 10 billion more to the nation's borrowing debt. Treasury and Bank of England in conflict, the Chancellor's tax changes and huge borrowing costs causing inflation to increase while the bank will have to raise interest rates to bring the figures under control. Stock markets around the world have reacted showing they have no confidence in the Chancellor's budget plans.

  13. Thanks happy daze john in oz thanked for this post
    Likes James Curry liked this post
  14. #19
    Join Date
    Aug 2008
    Location
    W.A.
    Posts
    20,976
    Thanks (Given)
    11527
    Thanks (Received)
    12194
    Likes (Given)
    17180
    Likes (Received)
    67298

    Default Re: Mini Budget

    #16. In 1963 I bought my first house 2450 pounds my salary was 76 pounds a month and came within the limits for capability of repaying the mortgage. If I couldn’t I wouldn’t of been giving a loan from the building Society. The only time the interest rate fell below 8% for me was when I reborrowed the mortgage money from JIJacobs my employers at 4 % interest. However they went to the wall 3 years later and I had to redeem the mortgage and go back with a building Society , I was given 12 months to do so. We had to work to own a home , today they expect it to come to them by the good fairy, there are plenty of now legal fairies around but I question the word good.
    JS
    Last edited by j.sabourn; 27th September 2022 at 09:13 AM.
    R575129

  15. #20
    Join Date
    Mar 2022
    Location
    Prenton
    Posts
    609
    Thanks (Given)
    101
    Thanks (Received)
    319
    Likes (Given)
    514
    Likes (Received)
    1221

    Default Re: Mini Budget

    Labour have a 17 point lead over CONservatives and that is by YouGov. Tuss -9% approval rating since becoming PM knives being sharpened. Maybe Rishi Sunak might be getting a phone call soon.

    Under the Torys energy price cap is for two years, so all well and good but how are they funding it??? is it by borrowing 150 billion so that old kicking the can down the road again eh!!. What happens after the 2 years. Ah!!! right it will no longer be a Tory problem it will be a new Labour governments problem.
    Sorry but this government are a laughing stock and made the UK into joke.

Page 2 of 14 FirstFirst 1 2 3 4 12 ... LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •