Budget — Scope | Disability forum
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Budget

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woodbine
woodbine Community member Posts: 11,658 Disability Gamechanger
It's the budget on Wednesday, what are you expecting to see ? what would you like to see the chancellor do.?

Personally I'm hoping not to see tax cuts as I suspect they would be paid for by cuts in already overstretched public services , I suspect we may see changes to inheritance tax which will be good news for the rich!
We may see a cut in petrol duty as this would have a negative effect on inflation.

Other than that it might resemble the re-arranging of deck-chairs on the Titanic as the Tories prepare for a decade in opposition.
2024 The year of the general election...the time for change is coming 💡

Comments

  • Beaver79
    Beaver79 Community member, Community Co-Production Group, Scope Member Posts: 20,260 Disability Gamechanger
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    Not expecting much. I would like to see the tax bands have a higher limit.
  • bobby123
    bobby123 Community member Posts: 188 Courageous
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    Nothing for benefits
  • woodbine
    woodbine Community member Posts: 11,658 Disability Gamechanger
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    Beaver79 said:
    Not expecting much. I would like to see the tax bands have a higher limit.
    I think they have already been frozen
    2024 The year of the general election...the time for change is coming 💡

  • woodbine
    woodbine Community member Posts: 11,658 Disability Gamechanger
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    bobby123 said:
    Nothing for benefits
    All benefits will increase by 6.7% in April and SRP by 8.5%, these were announced in the Autumn statement.
    2024 The year of the general election...the time for change is coming 💡

  • MW123
    MW123 Scope Member Posts: 473 Pioneering
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    woodbine said:
    Beaver79 said:
    Not expecting much. I would like to see the tax bands have a higher limit.
    I think they have already been frozen
    In November, Hunt revealed that the freeze on personal allowance thresholds would be extended until 2028.
    I am in favour of lowering VAT which would benefit everyone, although I am not optimistic about it ever becoming a reality.
  • Ralph
    Ralph Community member Posts: 91 Pioneering
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    I would like to see them do nothing except invest any money saved by not giving tax cuts into building social housing. Actually build it, not just promise and forget. High rents are sucking people dry where people could be using that money and boosting the economy. Not going to happen of course. 
  • Rosie_Scope
    Rosie_Scope Posts: 2,244 Scope online community team
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    It'll be interesting @woodbine! I'm hoping there aren't tax cuts either. Seems like a vote-winner for some people, but, as you said, in the long run it just causes more issues with overstretched services. Not feeling particularly hopeful that there'll be anything very exciting in this budget, but you never know!
    Rosie (she/her)

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  • 66Mustang
    66Mustang Community member Posts: 13,677 Disability Gamechanger
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    I think that is a wise view r.e. tax cuts. Always have to remember: if they give you something with one hand they take it away with the other hand anyway. In some ways, the name of the tax doesn't really matter!

    woodbine said:

    We may see a cut in petrol duty as this would have a negative effect on inflation.
    I think you are on to something there. Maybe not a cut but another freeze - it's currently cut by 6p a litre but due to end in April I believe, perhaps will be frozen again at the current level?
  • Albus_Scope
    Albus_Scope Posts: 4,222 Scope online community team
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    Going by another thread, I think most people in this community would like free cake, but I'm not sure if that'll ever happen. 

    I'm not expecting too much from this to be honest, there's no money to do anything big, unless they attempt to skim more from elsewhere, which even they know they can't do now as everything is running at a bare minimum, or lower around the country. 

    I will be expecting a pre-election last push with a grand gesture that will ultimately be bad for the country long term, but will make the current government look good short term. 
    Albus (he/him)

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    Opinions expressed are solely my own.
    Neurodivergent.
  • Biblioklept
    Biblioklept Community member Posts: 4,682 Disability Gamechanger
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    I never quite understand all the budget stuff but saw there was talk of free cake in here?!?? I'll take some please <3 
  • woodbine
    woodbine Community member Posts: 11,658 Disability Gamechanger
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    MW123 said:
    woodbine said:
    Beaver79 said:
    Not expecting much. I would like to see the tax bands have a higher limit.
    I think they have already been frozen
    In November, Hunt revealed that the freeze on personal allowance thresholds would be extended until 2028.
    I am in favour of lowering VAT which would benefit everyone, although I am not optimistic about it ever becoming a reality.
    Reducing VAT  at the end of the day gives more to the rich as they but more/spend more 
    2024 The year of the general election...the time for change is coming 💡

  • MW123
    MW123 Scope Member Posts: 473 Pioneering
    edited March 3
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    woodbine said:
    Reducing VAT  at the end of the day gives more to the rich as they but more/spend more 
     I understand your perspective, Woodbine. However, I'm sceptical that reducing VAT would offer significant benefits to the wealthy, considering their substantial resources. They're likely to maintain their purchasing habits regardless of such changes.
     A reduction in VAT on essential goods could significantly benefit individuals with limited budgets and lower incomes. Such a measure would play an important role in levelling the economic playing field, ensuring fair access to necessities, particularly during periods of economic hardship. Given that VAT applies to nearly all everyday transactions, encompassing both goods and services, such a reduction could have far-reaching positive effects on household budgets and overall economic stability.

    Woodbine, your question was originally what would we like to see in the budget. I share the view  that a VAT cut could significantly benefit thousands of ordinary people while also providing a slight advantage to the wealthy. It's a trade-off I'm willing to accept as I believe lowering VAT will help many have a few more pennies in their pocket.

  • woodbine
    woodbine Community member Posts: 11,658 Disability Gamechanger
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    If you lowered VAT it would have to be by 5% to mean anything and that would cost around £13 billion a year, one move that would be popular is to abolish the 5% VAT on domestic fuel bills knocking around £75 a year off the average bill.

    My bet is that tax reductions of any kind might not happen as the UK's economic outlook isn't good at the moment.
    2024 The year of the general election...the time for change is coming 💡

  • MW123
    MW123 Scope Member Posts: 473 Pioneering
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    woodbine said:
    If you lowered VAT it would have to be by 5% to mean anything and that would cost around £13 billion a year, one move that would be popular is to abolish the 5% VAT on domestic fuel bills knocking around £75 a year off the average bill.

    My bet is that tax reductions of any kind might not happen as the UK's economic outlook isn't good at the moment.
    Alistair Darling's decision to reduce VAT during the global financial crisis, dropping it from 17.5% to 15% in 2008, for a year, sparked debate at the time, but I thought it was an excellent idea. Data indicated that ordinary people did increase their spending. 

     I agree Woodbine I cannot see any tax cuts coming are way soon. In fact, a new tax rumour circulating is about implementing a tax on vape juices, £1.60 on a 10ml bottle  which concerns me. Having quit smoking in March 2021 and switching to vaping, it appears another enjoyable habit of mine may become more expensive. 

  • bobby123
    bobby123 Community member Posts: 188 Courageous
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    As expected not much
  • yellowmoon23
    yellowmoon23 Scope Member Posts: 3 Listener
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    I wasn’t expecting much, and I was not surprised to see he spat in our faces yet again, they don’t hide their hostility, the contempt shown is deliberate, malicious, open, palpable, and vicious! The last person to show this level of unalloyed disdain for the disabled shot himself in a bunker in Berlin on 30th April 1945.

    I honestly think our best bet would be collecting money together, building a fighting fund, then openly bribe MPs to get some action.  If we could get them Cup Final tickets, maybe a nice holiday somewhere, nice car, they might be more inclined to act decently towards us, let alone act favourably.  The only place left in the country where it could be argued that  disability discrimination is alive, active, encouraged, and worse supported by the courts is the government in power and the sheer lack of action or outrage from the opposition.
  • woodbine
    woodbine Community member Posts: 11,658 Disability Gamechanger
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    There was little to say in the budget about benefits as the 6.7% increase from 6th April was announced in November.
    2024 The year of the general election...the time for change is coming 💡

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