Forum Topic

The Budget

Today's budget and its ramifications will be discussed in detail over the coming weeks and months by the financial wizards representing all parties and all news journals and media.Two things stood out for me in the Commons today:One, Rachel Reeves spoke for a very long time, and disregarding the content of her monologue, never faltered in her delivery, and proceeded without taking in water.Amazing and impressive.Second, Rishi's response to the budget showed his alter ego, and was a revelation.His thunderous criticism of every new tax imposed, his condemnation of every lie the government told the public preceding the budget, the non-existent black hole, the immense harm coming to poor pensioners, harm to small businesses, harm to growth- you couldn't stop him.This, his last Commons speech was great viewing, and took away the smug contented expressions on the faces of the Labour hierarchy.

Denis I. Fox ● 56d79 Comments

Yes, as reported on Radio 4 this evening, January and February will see many more job losses and bankruptcies. Rachel has really cocked things up big time. She should do herself a favour and ask Rishi for guidance on how to run the economy. She’s totally out of her depth.

Steve Taylor ● 7d

Plus more retail and hospitality businesses either going or closing some shops, staff made redundant it will be interesting to see the figures end of January/February I predict unemployment will be up, benefits bill up which doesn’t help anyone. Inflation will continue to rise as the tax hikes start to bite and prices have to rise to cover them pretty basic economics.

Jayne Thorburn ● 7d

“ The UK inflation rate has gone up for the second month in a row, rising at the fastest rate since March.”

Steve Taylor ● 7d

Believe me Campbell there is far more to life than idiot-baiting. You are simply a source of amusement.

N V Brooks ● 53d

Russell,I don’t read Cambell’s posts because he spews vitriol and nastiness.  However, I gather from your responses that you believe he is stalking you. You are probably correct because he selects individuals to stalk and try to bully. It’s actually more than just stalking because his posts are onanistic. He needs the  self therapy.  He gets off on it. He is a very sad individual.  Best to not feed the Troll. It will eventually starve.

Steve Taylor ● 53d

I haven't counted them Brian. Why do you ask?

Paul Campbell ● 53d

I can't desist doing something that isn't happening. Sorry about that.

Paul Campbell ● 53d

So when you go to the Copper Cow, an excellent watering hole I might add, how many drunks do you see or have you seen, say in the past month?

Brian Coyle ● 53d

Please desist in this unpleasantness and stalking.

Russell Pearson ● 53d

Russ, if you think this is stalking then I suggest you report it to the police or grow up.

Paul Campbell ● 53d

Please desist in this unpleasantness and stalking.

Russell Pearson ● 53d

DARVO.

Paul Campbell ● 53d

Please stop this weird stalking.

Russell Pearson ● 53d

I don't have a problem with you Russ. You're just a local pub bore with delusions of grandeur.

Paul Campbell ● 53d

You sounding like a stalker. What’s your problem with me?

Russell Pearson ● 53d

I don’t need to guess. You give yourself away too easily. Spending too much time with the drunks in The Copper Cow to realise how transparent you are.

Paul Campbell ● 53d

Ha ha. Have a guess.

Russell Pearson ● 53d

Ironic perfection from the man whose only purpose on this forum (and probably in life) is to swing and miss at me every time I post.

Paul Campbell ● 54d

Absolutely and Starmer (who caalls Sunak "PM") and his crew look set to perpetuate the ongoing fiscal disaster based on early feedback from the OBR and the reaction of the markets.

N V Brooks ● 54d

When you have something either insightful or mild ly amusing to post Campbell, olease do so. In the meantime, quaff off.

N V Brooks ● 54d

Lucky they didn't employ you Nigel with your arithmetic and economic prowess. a fiver a day, week, month or year would have been a scandalous waste of taxpayers' blood, sweat and tears

Paul Campbell ● 54d

Sure Russ. What are your literary theory qualifications? And please share with me your thoughts on right wing literary theory.The phony intellectual posing is as clear as day. You can’t even string a sentence together let alone posit a structured or deconstructed idea. I’m sure the daytime drinkers lap it up in The Copper Cow where you are a Lacan to the proles.

Paul Campbell ● 54d

The conservatives, from Thatcher onwards, have wrecked this country.'Private luxury, public squalor 'as JK Galbraith wrote in 1958.https://chatgpt.com/share/672541c8-6dd8-8009-bb12-e5e1e1f5f4d2

Ben Gemmingen ● 54d

You haven’t a clue what you’re talking about. It’s risible. Classic example of Dunning-Kruger. Really, this is so basic.

Russell Pearson ● 54d

How can you possibly enjoy a glass or two of champagne with you head pushed so far up your rectum? Have you checked out the 'delivery' record of the 'value for money' Tsar? Probably not, so you keep on making you cheap jibes and I'll continue to call an arse an arse. Seems fair to me.

N V Brooks ● 54d

“£950 per DAY and someone who has a sound track record of non-delivery“Yep - that’s how champagne socialists throw our money at their own. We’ve seen it time and time again in Moscow and Beijing.

Steve Taylor ● 54d

"why is he only on a one-day-per week contract?"Forget economics. The world of arithmetic can rest easy tonight while Nige paws meekly at the gate of its citadel.

Paul Campbell ● 54d

£950 per DAY and someone who has a sound track record of non-delivery. Only a fool would think that a sensible appointment.

N V Brooks ● 54d

A Conservative who thinks we should focus on an individual earning £950 per week instead of raising taxes and borrowing to fund education is not exactly threatening conventional economic theory. But good for you for having an idea.

Paul Campbell ● 54d

Russ, it is one thing to read, understand and apply literary theory. It is quite another to randomly quote it rom the internet. You gave yourself away by asking if I had read left literary theory. There is no other kind as any literary theorist knows. Reactionary and conservative can be two different things. And they can also be one thing in combination. We have abundant empirical evidence of the existence of the latter every day on this forum. You yourself have been a great contributor to the overwhelming volume.

Paul Campbell ● 54d

I can try. I suspect he thinks Richard is a Trot, and Steve an Everton fan, he’s so far off the mark.

Russell Pearson ● 54d

Really wouldn't expect a champagne socialist to understand. Off you quaff!

N V Brooks ● 54d

Althusser. They’re 2 different things btw, the reactionary and the conservative.

Russell Pearson ● 54d

Why is Eagleton a cove? Jameson might have found it difficult to imaging the end of capitalism but he hadn't met the reactionary conservatives of the Chiswick forum who imagine it every morning when they read the paper since they lost the election.

Paul Campbell ● 54d

You talked about moving the needle, or the dial. Zizek reminded us of Jameson’s famous quote that it’s easier to imagine the end of the world, than the end of capitalism. Eagleton is a cove, ever read his works? Or any left literary / political theory?

Russell Pearson ● 54d

No but I read Terry Eagleton's review of his last book. Why don't you explain the relevance of Zizek's obituary to this topic? It would be interesting to see you attempt to construct a lucid and logical argument.

Paul Campbell ● 54d

Not from me matey boy. I loathe all that Bannon stands for and his politics are repugnant. As for that theory, it’s utter hogwash.

Russell Pearson ● 54d

Did you read Zizek’s obituary of Fredric Jameson?

Russell Pearson ● 54d

Spoken like a true Bannonite. They must love hearing all about the Great Replacement Theory down at The Copper Cow

Paul Campbell ● 54d

Yeah start with the really big and important things that will move the needle.

Paul Campbell ● 54d

Well, we could start by not paying the 'value for money' Tsar, who has presided over project after project which has blown the origial costs out of the water (great skills there) £950 per day. Given the supposed black hole, why is he only on a one-day-per week contract? Smellier than a month old bloater.

N V Brooks ● 54d

No, please stop showing your political illiteracy, it’s embarrassing.

Russell Pearson ● 54d

"but in London it’s frequently being unable to afford to live locally to where they work."So if we want a better society with high quality free education available to all we might need to pay teachers more? I think you might be on to something ....

Paul Campbell ● 54d

Sure thing Russ. Press ctrl alt-right - wink wink.

Paul Campbell ● 54d

One of the biggest problems Simon is scale point drift. Teachers normally receive an annual increment. It is therefore in the interests of the school to reduce your number of experienced staff in favour of NQTs as they don't make such a significant dent on the fixed staffing budget.

N V Brooks ● 54d

No ways in hell will this bunch of clowns be able to recruit 6,500 new qualified teachers. It’s all lies. Getting back to champagne socialists, yes they are the most despised species of sub humans on the planet, on a par with irresponsible, law breaking, Lycra clad cyclists. Vermin!

Steve Taylor ● 54d

Getting back to state schools, one of the problems of promising thousands of new teachers is that a lot of schools have major issues with staff retention. Often it’s because the school isn’t very well run, but in London it’s frequently being unable to afford to live locally to where they work. Long commutes coupled with long hours don’t make for an enticing work/life balance, and the remuneration doesn’t make up for it.

Simon Hayes ● 54d

Ha ha, that’s amusing. And you’re barking wrong btw, in the most hilarious way.

Russell Pearson ● 54d

You always forget that I saw your Twitter timeline before you deleted it

Paul Campbell ● 54d

What on earth has that eejit got to do with anything? Baffled as a brush. So I guess you just like boring old state socialism and eschew anything, shall we say, more revolutionary?

Russell Pearson ● 54d

That is nearly ten years you've been stewing on that article Russ. Bannonites are quite a snowflakey bunch.

Paul Campbell ● 54d

QED The same kind of 'socialist' who thought that mushy peas were a form or warm guacamole they were that far out of touch with reality.

N V Brooks ● 54d

Raise a glass to Fully Automated Luxury Communism 😜https://www.theguardian.com/sustainable-business/2015/mar/18/fully-automated-luxury-communism-robots-employment

Russell Pearson ● 54d

Having just put a bottle of Deutz from my cellar into the fridge for this evening I am very happy to embrace Jayne's weak and cliched attempt at an insult.

Paul Campbell ● 54d

‘Champagne socialists are the worst’.  This insult seems to imply that someone with the taste or means to afford expensive things should not espouse left wing views, rather, that they be viewed as a hypocrite.  But why?  The underlying assumption can only be that their wealth obligates them to hold conservative, right wing views.  But again, why?  There are plenty of working class, underprivileged Tory voters.  How would you insult them I wonder?  Let’s just be honest about our good fortune in having the means to live comfortably in this pleasant neighbourhood and accept that we arrive at different political opinions for various reasons but independently of how rich we may or may not be.

Alastair Banton ● 54d

RR talking about the OBR predicting 1.7% growth after the next parliament hardly a growth strategy she has got it all wrong went way to hard too fast typical Labour no clue on how to balance anything

Jayne Thorburn ● 54d

A slow Truss?“ In the run-up to Liz Truss entering No. 10, there was an assumption on the part of Trussonomics backers that the markets would see the bigger vision for the UK economy, and would be willing to lend to Britain during that transition process: one that would hopefully lead to better services and higher growth.That assumption turned out to be wrong. One wonders if Labour had similar hopes – which markets, for now, seem to be dashing.” Kate Andrews

Russell Pearson ● 54d

Champagne socialists are the worst….

Jayne Thorburn ● 54d

Children also had jobs they did from home at weekends, I remember myfriend painting designs on lampshades for a Company they would drop offso many at a time, they were flat before being assembled and she would get them done over the weekend, another one was threading charms on forbracelets, the young people worked hard.

Janice Evans ● 54d

Amazing that he has has time to contribute to the economy.

N V Brooks ● 54d

Yes schools here are reducing their fees before adding the VAT.Chris, I know you live in a big expensive house in a very expensive and prestigious part of one off the most expensive cities in the world. And that you like buying luxury cars and that you send your children to private school. For all I know you have a second house in the country or abroad. I am not envious of you. The difference between us is that I am fully aware of how privileged I am to be in a similar position to you and I consider it crass and selfish to complain about what amounts to a meagre level of wealth distribution to make society less unequal and fund better public services. And I am more than happy to spend some of my time pointing out how selfish and wrong people are to complain about the loss of a small part of their immense privilege.

Paul Campbell ● 54d

Interesting point - is private tuition also going to be subject to 20% VAT ? If it is an individual doing the tutoring, then they will probably not reach the threshold at which they have to register for VAT, but if it is a tutoring business, what is their VAT status before and after this budget ?

Richard Greenhough ● 54d

No I'm saying they are givers.

Paul Campbell ● 54d

As for Paul Campbell ... I have no time for his Politics of Envy crap. He knows nothing of my situation and in his sweeping assumptions he presumes to know everything.Still, if it keeps him busy ...

Chris Blackwell ● 54d

I believe our school has reduced its fees and managed to get the VAT down to 13% but this still pushes the fees up to over £10k per term.

Chris Blackwell ● 54d

Humpty has very little grasp on how anything works except his own mindset and I am not fully convinced that he has a full grasp on that.

N V Brooks ● 54d

I'm going back awhile but some pupils going to state schools were having private tuition of an evening which could be an option for some parents now. Also believe some religious groups also do this evening schooling as well as day school, or used to.

Janice Evans ● 54d

So what you are saying is that the schools should reduce their fees before charging the 20% VAT because they can now reclaim input VAT ? Given that a significant proportion of their costs are staff salaries, and they will have to pay the increased employers NI on them, I am not sure how well that will work out.

Richard Greenhough ● 54d

Schools should certainly not be passing on the full 20%. After deduction of input tax paid on capital expenditure and purchases of educational supplies (not including books, which are zero-rated), on average schools are expected to be liable for VAT amounting to approximately 15% of fee income.

Robert Fish ● 54d

Are you really suggesting that people who are able to pay for private schools for their children are takers from the state, not givers ? That suggests you have very little grasp of how our progressive tax system works.

Richard Greenhough ● 54d

No I am personally a giver to the state not a taker from the budget. This is why I find the lack of self-awareness of the people complaining so crass and ugly. They should try to develop a social conscience.

Paul Campbell ● 54d

The politics of envy, Humpty - and that from someone who lives in Grove Park and allegedly drives a big car. Hope you enjoyed reading your Daily Telegraph this morning. Now calm down, put on your helmet and go for a cycle ride along CHR.

Richard Greenhough ● 54d

You should do a double-page sob story in the Mail Chris. They will mention the value of your house and your love of luxury cars though. Schools are not passing on the full 20% Average is 10%. A bit higher in West London's competitive market. Which is quite revealing of the profit margins they have been making on all these people who consider themselves to not be wealthy while living in multi-million pound houses, driving luxury cars and having several family holidays every year.

Paul Campbell ● 54d

It is a popular misconception that only very wealthy people send their children to private school. A lot of people are going to find it difficult to find the extra £2,000 per term due to the imposition of VAT on school fees. That's an extra £6,000 per year for us so thank goodness our eldest has left school because finding an extra £12,000 per year would have been difficult.

Chris Blackwell ● 54d

The colours used to depict a lot in politics, not so much anymore.

Janice Evans ● 54d

What a mess, so farmers are targeted not big business bit small family run farms for many generations who will not survive, charities who provide so much where government falls short, private & independent schools who provide a lifeline for disabled children going to court, small business in the consumer service sector hit, pensioners WFP the list goes on. Market jitters let’s see what happens next after 14 years we had hoped Labour would pursue a more centralist line rather than hard left this will not rebuild the foundations of our  country or encourage investment and growth very sad time for many.

Jayne Thorburn ● 54d

Well said DI Fox

Richard Atterwill ● 54d

‘It would be odd indeed to increase spending rapidly this year and next, only to start cutting back again in subsequent years. I’m afraid, at least on the surface, this looks rather like the same silly games playing we got used to with the last lot – pencil in implausibly low spending increases for the future in order to make the fiscal arithmetic balance.’ Paul Johnson,  IFS‘ A gilt sell-off saw government borrowing costs almost hit their highest level in 2024 this afternoon, with the ten-year gilt yield reaching 4.52 per cent and the five-year gilt yield reaching 4.41 per cent.’

Russell Pearson ● 55d

All show from fishi Rishi. He's the one who wrote the cheques out totalling around £500b during the Covid scam - all supported by Sir Keir. They've worked together, I'm afraid, in purposely destroying society - mentally, physically and financially. They are front men for the same evil forces. Red or blue pill - it makes no difference..

Michael Brown ● 56d