The 2024 Labour Budget

[Robbie 𝕏 @Robbie_NCFC]

This is a thread to discuss new announcements in the first Labour budget for over fourteen years.

What do this Government have in store for us Pensioners & working people?

Let's begin with the Speaker Sir Lindsay Hoyle, making it very clear to the House, that he's not a happy chappie about important elements of the budget being leaked to the press before the budget speech, which could be a very serious breach of the ministerial code, that in the past has led to resignations. 

Can the Chancellor survive?

 

[Robbie 𝕏 @Robbie_NCFC]

Taxes under the Tories were at record levels, now this government is raising taxes by another £40Billion & going to borrow up to £70Billion more, raising the Nation Debt.

Pensioners, working people & business will bear the brunt.

Pensioners are going to suffer this winter, because the Chancellor is going to take off the Pensioners to fund some of her vanity projects.

Income tax thresholds frozen till at least 2028, which will hit pensioners because the State Pension will be above the tax threshold.

Yes Pensions will rise by £470 per annum from April, but most will have 20%of that taken off in taxes. But that money will come from April.

In the meantime thousands of Pensioners will lose their winter fuel allowance, because they have just a small private pension in addition to the State Pension.

But that's not all. The Chancellor has increased the taxes on jobs, by raising employers NI contributions. That policy will actually reduce wages & lose jobs, 

This budget is a tax on pensioners, working people, employers, investors, & house owners etc 

 

[Robbie 𝕏 @Robbie_NCFC]

The change to the inheritance taxes by this Labour Chancellor, is going to prove disastrous for the farming industry resulting in higher food prices, according to the NFU 

 

[Piethagoram 𝕏 @piethagoram]

Hey @Robbieif we were still in the Single Market and Customs Union, that would be delivering an additional £40bn tax revenues annually.

But hey, "take back control"... = higher taxes for all of us

I ask you again, please refrain from posting items from GB News ( ownership based in Dubai). They are not a credible source of news.

[Robbie 𝕏 @Robbie_NCFC]

Hey @Piethagoram if you think this is a good budget for pensioners, working people, small to medium sized businesses, the pension industry, Farmers, the national debt, & the fact that the UK have to pay £90billion a year in interest payments alone to service that debt, enlighten me.

[Piethagoram 𝕏 @piethagoram]

Hey @Robbie the last Tory govt left a £22bn black hole in the Government finances? Yes, I am a Pensioner and it will hurt but what else could she do to repair the fiscal damage... the non action by the Tories to fix the NHS, concrete failings in schools, 

That £40bn lost tax revenues by being outside of the EU's SM & CU could have helped the Exchequer by helping pensioners. Brexit ideology over economic common sense strikes again.

Its all right criticising Labour's budget but not mention the budget of Liz Truss's government, which cost this country billions. Inflation shot up as there was no fiscal prudence shown. Tax cuts for the richest.

I will leave it there Robbie.

[Robbie 𝕏 @Robbie_NCFC]

The Government is saving, wait for it, just £1.4billion by taking away the winter fuel allowance from vunerable pensioners. 

There was absolutely no justification for ending it.          The Government are raising £40billion in extra taxes & borrowing up to a further £70billion to fund different things. £1.4 billion is a drop in the ocean.

They could easily have kept that going & SAVED lives this winter. This government is not for pensioners. They've made that absolutely clear.

The vast majority of pensioners who have lost this winter payment like myself are very upset & feel let down by this government.

[Robbie 𝕏 @Robbie_NCFC]

More Labour Budget Reaction.

This is so depressing.

 

[Piethagoram 𝕏 @piethagoram]

2 hours ago, Robbie said:

The Government is saving, wait for it, just £1.4billion by taking away the winter fuel allowance from vunerable pensioners. 

There was absolutely no justification for ending it.          The Government are raising £40billion in extra taxes & borrowing up to a further £70billion to fund different things. £1.4 billion is a drop in the ocean.

They could easily have kept that going & SAVED lives this winter. This government is not for pensioners. They've made that absolutely clear.

The vast majority of pensioners who have lost this winter payment like myself are very upset & feel let down by this government.

Dear Robbie,

Your vote for Brexit threw away £40bn tax revenues for the UK government.

The "vulnerable pensioners" are now suffering because of that decision.

I don't like it, you don't like but that is the economic reality. Wake up and smell the coffee!

[Robbie 𝕏 @Robbie_NCFC]

Labour can no longer blame anyone or anything else. Labour own what they have done today lock stock and barrel.

This is what Labour do. They always put up taxes and borrow money the Country doesn't have. People of my age have seen it all before.

Now Labour have upset & alienated farmers, pensioners, landlords, small & medium sized businesses.

When food prices go through the roof because Labour have destroyed our farming industry, Labour will still try to blame something else for it, just as they are doing now 

But the reality is, the British people are the ones that will pay for it, & suffer because of it.

[Robbie 𝕏 @Robbie_NCFC]

Wow. Even Bef can't believe this budget.

But those who are old enough will know.

It's just a typical socialist budget. Tax, borrow & spend.

 

[Piethagoram 𝕏 @piethagoram]

10 hours ago, Robbie said:

More Labour Budget Reaction.

This is so depressing.

 

 

[Robbie 𝕏 @Robbie_NCFC]

Oh dear, how many Labour lies in just over a minute & a half.

 

[Piethagoram 𝕏 @piethagoram]

No increases VAT, NIC, Income tax as per manifesto. Truth hurts @Robbie ?

£13bn set aside for the infected blood scandal and the Post Office Horizon scandal. The Tories kept kicking the proverbial can down the road...At least a Labour government takes the issue on and settles it. 

[Robbie 𝕏 @Robbie_NCFC]

Please listen to these powerful words from Welsh farmer

 

[Robbie 𝕏 @Robbie_NCFC]

1 hour ago, Piethagoram said:

 @Robbie 

£13bn set aside for the infected blood scandal and the Post Office Horizon scandal. 

That's really good news & will be welcomed, but not setting aside just £1.4billion for hard up Pensioners is criminal, when Labour can set aside billions for other things.

Pensioners are not on Labour's priority list.That is very sad.

And you know why? Most pensioners don't vote Labour.

[Fan of Big Tone 𝕏 @mainstandpie]

It seems to me that in the main the budget is taking money from the people who are more able to shoulder the cost of years of neglect of the NHS, schools, road maintenance etc.

People keep saying that they are hurting pensioners but the majority of pensioners are well off and those that aren’t get pension credit. I don’t need £300 to help with heating and I think if people were honest the majority would say they didn’t either. If that money helps the NHS, schools, mends pot holes etc then I’m all for it.

They put 50% tax increase on private jets, good!

People who can afford to send kids to private school will pay more, they can afford it.

Just my two pennorth for what it’s worth I’m sure others will disagree no one’s mind will be changed by debating these things.

[Robbie 𝕏 @Robbie_NCFC]

26 minutes ago, Fan of Big Tone said:

 

People keep saying that they are hurting pensioners but the majority of pensioners are well off and those that aren’t get pension credit. 

People who can afford to send kids to private school will pay more, they can afford it.

 

Majority of pensioners are well off?

I think you need to get out more mate because all the pensioners I know are not well off.

Most have just a small extra pension, or no pension at all, & have to carry on working to make ends meet & I'm sure that's reflected all across across the Country.

I had a man come to clean out my gas heaters, He's over 70 & he keeps working to make ends meet.

Just because pensioners live in their own house doesn't make them well off.

As for people can afford to send their children to private school.

My parents scrimped and save to send me to prep school till I was eleven.

My Father was a miner, & my mum cooked school meals, & we lived in a rented Pit house. We never went on a foreign holiday till I was 14.

Many hard working people do the same thing to give their children the best education. 

Why shouldn't people desire the best for their children?

But Labour don't want that do they. They preach class envy. They would rather make it into a class thing when it is certainly not that at all.

[Fan of Big Tone 𝕏 @mainstandpie]

@Robbie as I said pensioners like the ones you know who are struggling to make ends meet will get pension credit and still get help with heating bills.

There are millions of pensioners who do not need the heating allowance, the cruise ships I sometimes holiday on are full of pensioners, all of whom were getting £300 to help their energy bills, one friend of ours called it his “wine fund” the Labour government have stopped that waste of public money whilst still ensuring the people who you mention still get help.

There will be people like your mum and dad who scrimp and save to pay for private education but there are also lots who can afford to pay more and should do so in my opinion.

Our boys went to state school and had a very good education both went on to get very good jobs.

As I said those that can afford to shoulder the burden should do so, we have to rebuild the country and it’s going to hurt after years of neglect.

By the way you were lucky to go on a foreign holiday at 14 I didn’t go abroad until I was married and then it was only camping in France, I didn’t go on a plane until I was over 60.

My dad was a postman my mam was a home help and school dinner lady, we lived on Grainger Street off Meadow Lane in a two up two down rented house with outside toilet and no bathroom.

[Robbie 𝕏 @Robbie_NCFC]

@Fan of Big Tone said

"By the way you were lucky to go on a foreign holiday at 14 I didn’t go abroad until I was married and then it was only camping in France, I didn’t go on a plane until I was over 60"

When I went to Spain it was a once in a lifetime trip where we went with my Aunties & Uncles who all chipped in so we could go, otherwise we wouldn't have gone abroad, & by the way, we all went by car.

You didn't know that, but still you were quick to judge, but judged wrongly. And that poor judgement could apply to those pensioners on a cruise ship.

Just because they are on a cruise ship doesn't mean they are well off. Could be a once in a lifetime trip paid by their children or relatives, or an anniversary gift, or by equity release on their home. You don't know all the circumstances.

As for the pensioners I know, they are not on pension credit, but still struggle with the heating bills.

Some people see things as the number of £ notes. I see it as individual circumstances, & that is entirely different.

That's another problem with this government, who see it as just down to £ notes.

And they have got some people comparing themselves with others, who's better off than them or worse off, separating & dividing.

At the end of the day what this government has done is mean, & they haven't taken into account individual circumstances & there's no defence for it.

[Fan of Big Tone 𝕏 @mainstandpie]

As I said before it’s pretty pointless debating these things, I have my opinion and you have yours neither of us will change our minds so I’ll leave it there, I just want to say the Labour Government isn’t perfect but it’s a damn site better than we’ve had for the last few years.

[Robbie 𝕏 @Robbie_NCFC]

@Fan of Big Tone we can agree to disagree but I think this government will prove disastrous, for the British economy & the people of this Country & our standing abroad.

[Robbie 𝕏 @Robbie_NCFC]

Our farmers are being truly shafted by this Government budget.

And it will be consumers like ourselves who will finish up with the burden of higher food prices as a result.

 

[Piethagoram 𝕏 @piethagoram]

@Robbie Yet again Martin Daubney doesn't understand the detail on inheritance tax for farmers. Here is a tax expert...

 

[Robbie 𝕏 @Robbie_NCFC]

@Piethagoram You can roll out anyone you like who doesn't understand the farming industry..

I'll trust the NFU and what they are saying about the affect of the Labour budget on Farmers thanks.

And as I post this the Pound is tanking. The Bond market is in turmoil too. What a mess.