[JimmyJames]

So far ...

Mortgage rescue scheme extended for another 6 months (convienient timing)

[JimmyJames]

Guardian stated that stamp duty freeze will come to an end in january as planned



And bingo duty cut!

[ziknik]

JimmyJames,

Thanks for posting. I’m stuck at work at the moment and the Live BBC Text feed isn’t really giving any details.

Keep it up :bigemo_harabe_net-108:

[JimmyJames]

Growth forcasts remain the same

Grow by between 1 and 1.5% next year

+ 3.5% for 2010/11

Losses to bank bail outs revised down to £10 billion

[JimmyJames]

Contraction for this year revised down to - 4.75% (some economists thought would be - 4.5%) - may help explain why the projected bounce back figures could be healthier than previously

[JimmyJames]

Borrowing for this year to rise to £178bn, up from earlier forecast of £175bn

Net debt as a share of GDP will fall by 2015-16

Consumer price index inflation (CPI) forecast to rise to around 3 per cent in early 2010 before falling back

Looks messy

[JimmyJames]

Vauge stuff about a £550 billion small business fund, with 'details to be announced later'

Net debt as a share of GDP will be 56 per cent for the current year and rise to 78 per cent in 2014/15 before falling

Some fairly limp wristed measures to deal with climate change - with, da da!, a boiler scrappage scheme! A grand total of 125k households to benefit - but which ones?

[JimmyJames]

Wo-ho!, The tax increases bit!

Bank tax - no windfall tax, but looking at bonuses. 'Giving them a choice - if they use profits to build capital base or if they irresponsibly pay bonuses'

One off levy of 50% on any bonuses above 25k - to be paid for by the bank not the employee

To be used to help older people getting back into work (right..).

Freezing individual cut in inheritance tax

This post has been edited by JimmyJames: 09 December 2009 - 01:07 PM

[ziknik]

I want a hand out Godammit!

Where is my hand out :bigemo_harabe_net-86:

[JimmyJames]

Offshore accounts crackdown

More tax detail - Inheritance tax allowance frozen at £325,000, suspending raise to £350,000

50 per cent levy on any individual discretionary bonus in the banking sector of over £25,000 introduced immediately; expected to raise £500m

[JimmyJames]

2010/11 continue to spend in projected government spending + 2.2%

Then cut cut cut

“Taking these decisions from a position of strength” (cue riot in HoC)

No public spending review

[JimmyJames]

From 2011-12, public spending across the board will increase by just 0.8%. Some programmes will have to be cut altogether.

Lots of wishful thinking about 'efficiencies', "cutting quangos"

Cap on public sector pension payments

Public sector pay - a cut in senior service pay 'to take the lead'. All public sector pay to be capped at 1%, a clear difference with the Tories, although I imagine if government departmental budgets are cut as drastically as they appear to be then this may not mean much.

[JimmyJames]

NI going up by 0.5%!

Apart from those earning less than 20k

Although won't kick in until April 2011

This post has been edited by JimmyJames: 09 December 2009 - 01:19 PM

[JimmyJames]

Editorial close from Darling and it's over

Boy Osbourne up now, laying it on thick, and I'm getting bored...

NI measure - "Labour's new tax on jobs"

[JimmyJames]

Brown "rode a massive property bubble"

Err... I'm off to get a sandwich. Full report probably on the Treasury website around 2 if anyone fancies more pain and boredom.

[Cletus VanDamme]

Why the hell is the basic state pension rising by 2.5% next year? He just doesn't get it - we can't afford it, there should be no rises next year, not in pensions, not in child benefit, not in welfare benefits.

Boiler scrappage scheme? Mate of mine has a condensing boiler. They're only efficient if they are working flat out and on all the time - net result is a huge gas bill.

[ziknik]

JimmyJames, on Dec 9 2009, 01:33 PM, said:

Brown "rode a massive property bubble"

Err... I'm off to get a sandwich. Full report probably on the Treasury website around 2 if anyone fancies more pain and boredom.

Sterling seems fairly stable.

Thanks for your posts.

[frugalista]

I see they're putting Work Tax up by 0.5%.

frug.

[Cletus VanDamme]

frugalista, on Dec 9 2009, 01:46 PM, said:

I see they're putting Work Tax up by 0.5%.

frug.

It's insane isn't it? Increasing welfare benefits and further disincentivising work. They just can't stop themselves.

[AgeingBabyBoomer]

Cletus VanDamme, on Dec 9 2009, 01:51 PM, said:

It's insane isn't it? Increasing welfare benefits and further disincentivising work. They just can't stop themselves.

But you're not working right now, you are living off (educational) benefits, right?
ABB