I mean I voted for this so can’t complain too much. I appreciate there has to be some rebalancing of public finance but I just hope they steer clear from pension tax grabs. You can’t incentivise people from saving into a private pension and then change the game half way through. Sick of pensions being such a political football.

What time is the budget landing? Will actually be interested in this one

As a relatively young business owner and employer, if this budget goes as I expect, I may well be looking to sell up and move to Dublin.

It’s hard enough being an sme and employing people (50+ in our case), but some of the policies being suggested are just targeting the wrong size of business, and generally seem to want to punish sme’s for no apparent reason other than they are there to be easily squeezed further.

Genuinely concerned for the long term macro prospects of the UK economy after multiple poor decisions made over the last decade or so. What is frustrating though is that these decisions are made by governments and ministers that wouldn’t know the first thing about running a successful business.

comment by Keanos Magic Hat (U10101)
posted 2 minutes ago
As a relatively young business owner and employer, if this budget goes as I expect, I may well be looking to sell up and move to Dublin.

It’s hard enough being an sme and employing people (50+ in our case), but some of the policies being suggested are just targeting the wrong size of business, and generally seem to want to punish sme’s for no apparent reason other than they are there to be easily squeezed further.

Genuinely concerned for the long term macro prospects of the UK economy after multiple poor decisions made over the last decade or so. What is frustrating though is that these decisions are made by governments and ministers that wouldn’t know the first thing about running a successful business.
----------------------------------------------------------------------
Dublin is seriously expensive mate

comment by Keanos Magic Hat (U10101)
posted 16 minutes ago
As a relatively young business owner and employer, if this budget goes as I expect, I may well be looking to sell up and move to Dublin.

It’s hard enough being an sme and employing people (50+ in our case), but some of the policies being suggested are just targeting the wrong size of business, and generally seem to want to punish sme’s for no apparent reason other than they are there to be easily squeezed further.

Genuinely concerned for the long term macro prospects of the UK economy after multiple poor decisions made over the last decade or so. What is frustrating though is that these decisions are made by governments and ministers that wouldn’t know the first thing about running a successful business.
----------------------------------------------------------------------

Budgets not out yet......

comment by Chris H (U15205)
posted 8 minutes ago
comment by Keanos Magic Hat (U10101)
posted 16 minutes ago
As a relatively young business owner and employer, if this budget goes as I expect, I may well be looking to sell up and move to Dublin.

It’s hard enough being an sme and employing people (50+ in our case), but some of the policies being suggested are just targeting the wrong size of business, and generally seem to want to punish sme’s for no apparent reason other than they are there to be easily squeezed further.

Genuinely concerned for the long term macro prospects of the UK economy after multiple poor decisions made over the last decade or so. What is frustrating though is that these decisions are made by governments and ministers that wouldn’t know the first thing about running a successful business.
----------------------------------------------------------------------

Budgets not out yet......
----------------------------------------------------------------------
I mean it’s not rocket science that it’s not going to be a positive one.

It is for the lowest paid.

Why not wait and see what the whole packagenis before panicking and reimagining your future.

comment by Hector (U3606)
posted 30 seconds ago
It is for the lowest paid.

Why not wait and see what the whole packagenis before panicking and reimagining your future.
----------------------------------------------------------------------

A lot has been leaked, so not too much imagination required at this stage bu lt certainly some filling in of the blanks

You often get the bad news leaked and the a couple give aways come out to soften the blow.

If there aren't any give aways for SMEs and especially hospitality then this will not land well with businesses and growth, which has already stalled after months of negative messaging.

Can’t be as bad as the Liz Huss kamakazee kwarteng budget

I mean I voted for this so can’t complain too much.

—

The op didn’t. He’s as tory as they come

comment by Irishred (U2539)
posted 1 hour ago
comment by Keanos Magic Hat (U10101)
posted 2 minutes ago
As a relatively young business owner and employer, if this budget goes as I expect, I may well be looking to sell up and move to Dublin.

It’s hard enough being an sme and employing people (50+ in our case), but some of the policies being suggested are just targeting the wrong size of business, and generally seem to want to punish sme’s for no apparent reason other than they are there to be easily squeezed further.

Genuinely concerned for the long term macro prospects of the UK economy after multiple poor decisions made over the last decade or so. What is frustrating though is that these decisions are made by governments and ministers that wouldn’t know the first thing about running a successful business.
----------------------------------------------------------------------
Dublin is seriously expensive mate
----------------------------------------------------------------------

I know, but have family / mrs is from there, plus corporation tax is half, plus better labour force available due to being in EU is far superior now compared to the UK.

Also just a bit demoralising at present operating in the UK feeling like we’re constantly in the firing line in a lot of different aspects.

Looks like a disproportionate amount of the burden *might* fall on SMEs, when we could (and should) be seeing the chancellor go after tax dodging big business, bringing CGT back in line with income tax, and/or looking at taxing unrealised gains.

We’re still in the position where we have a sluggish and unproductive economy in no small part due to uncontested, exorbitant wealth extraction (rather than reinvestment) by the top 10%, and a lack of spending power amongst the bottom 50%; and until there’s a significant rebalancing which addresses those facts, we’re just titting around really.

There’s still apparently a great fear of taxing multinationals and high wealth individuals, because if we deign do so, “they won’t invest anymore”. Reality check: they aren’t investing now.

I've had my own business since 1995.

Successive budgets have made little difference over those 30 years in the grand scheme of things.

The real elephant in the room is Brexit, which is funking disaster.

comment by rosso says the time has come to unlock the unlimited Pote-ntial of the Fernçalvenoo triumvirate (U17054)
posted 2 hours, 6 minutes ago
Looks like a disproportionate amount of the burden *might* fall on SMEs, when we could (and should) be seeing the chancellor go after tax dodging big business, bringing CGT back in line with income tax, and/or looking at taxing unrealised gains.

We’re still in the position where we have a sluggish and unproductive economy in no small part due to uncontested, exorbitant wealth extraction (rather than reinvestment) by the top 10%, and a lack of spending power amongst the bottom 50%; and until there’s a significant rebalancing which addresses those facts, we’re just titting around really.

There’s still apparently a great fear of taxing multinationals and high wealth individuals, because if we deign do so, “they won’t invest anymore”. Reality check: they aren’t investing now.
----------------------------------------------------------------------

Excellent post.

They didn't touch pensions as far as I can tell without having watched the budget and relied on the BBC coverage. Good move.

2nd biggest tax raising budget in history apparently.

From my first viewing, without lookin⁹g at details, it looks like lots more taxes, borrowing and spending. This combination will likely result in higher inflation and stiffle growth as employers and employees are hit.

I do not see how their measures are meant to stabilise the economy. They've attacked the very core of it while borrowing hugely.

comment by Devonshirespur (U6316)
posted 33 seconds ago
2nd biggest tax raising budget in history apparently.

From my first viewing, without lookin⁹g at details, it looks like lots more taxes, borrowing and spending. This combination will likely result in higher inflation and stiffle growth as employers and employees are hit.

I do not see how their measures are meant to stabilise the economy. They've attacked the very core of it while borrowing hugely.
----------------------------------------------------------------------
We weren’t seeing projections for strong jobs growth and it’s not like we have high unemployment, so I wouldn’t worry too much about the employers’ NI rise impacting jobs provided it doesn’t put SMEs under.

£100bn of additional spending on infrastructure will significantly boost growth (as well as creating employment opportunities anyway), as will increased real wages.

Measures like the CGT increase, if the revenue is spent wisely, are going to take large amounts of unproductive capital and get it circulating round the economy, which will help.

A big question is how well the govt (with the various tools at its disposal) can plug the gaps the UK private sector has been reluctant/unwilling to fill - basic research, R&D, product development, marketisation, knowledge sharing, etc. Hopefully the incubator programmes and the likes of GB Energy will help with that.

Their big investment plans will take years to come to fruition.

They've done nothing for the here and now other than hit businesses with taxes and I don't think you can talk that down as nothing to worry about when it takes 18bn out of businesses. That is effectively 18bn not being invested by them, per year. That will hit growth, it will hit wage growth.

How is this stabilising the economy. It seems aimed at long term investment and funding immediate public spending.

Labour pro business

comment by Devonshirespur (U6316)
posted 42 minutes ago
Their big investment plans will take years to come to fruition.

They've done nothing for the here and now other than hit businesses with taxes and I don't think you can talk that down as nothing to worry about when it takes 18bn out of businesses. That is effectively 18bn not being invested by them, per year. That will hit growth, it will hit wage growth.

How is this stabilising the economy. It seems aimed at long term investment and funding immediate public spending.

----------------------------------------------------------------------
It will hit wage growth, particularly for second quartile earners I’d expect, over the next two to three years; it won’t really hit investment.

British business doesn’t reinvest its profits (that isn’t opinion, by the way; that’s what the data says). And that’s the reason why we have dogshiiiiit productivity, have next to zero R&D going on, and are years behind the curve in most future tech industries.

It’s one of the new government’s biggest challenges, and I’m pleased to see they’ve recognised that the public sector is going to have to step in to fill the gaps where a short-termist private sector has spectacularly failed.

The typical British successful' Business scenario, is not to reinvest, but to sell it (usually to a foreign entity).

If that involves a knighthood en-route, then bingo.

Compare that with (say) Germany, where a lot of the really big manufacturers are still family owned.

comment by rosso says the time has come to unlock the unl... (U17054)
posted 5 hours, 11 minutes ago
comment by Devonshirespur (U6316)
posted 42 minutes ago
Their big investment plans will take years to come to fruition.

They've done nothing for the here and now other than hit businesses with taxes and I don't think you can talk that down as nothing to worry about when it takes 18bn out of businesses. That is effectively 18bn not being invested by them, per year. That will hit growth, it will hit wage growth.

How is this stabilising the economy. It seems aimed at long term investment and funding immediate public spending.

----------------------------------------------------------------------
It will hit wage growth, particularly for second quartile earners I’d expect, over the next two to three years; it won’t really hit investment.

British business doesn’t reinvest its profits (that isn’t opinion, by the way; that’s what the data says). And that’s the reason why we have dogshiiiiit productivity, have next to zero R&D going on, and are years behind the curve in most future tech industries.

It’s one of the new government’s biggest challenges, and I’m pleased to see they’ve recognised that the public sector is going to have to step in to fill the gaps where a short-termist private sector has spectacularly failed.
----------------------------------------------------------------------

Mate...you are talking big big business. That's not the life blood of the country. It's the SMEs and anything that squeezes their profits will see investment fall, whether in expansion or new staff of existing staff.

comment by Scouse (U9675)
posted 10 hours, 2 minutes ago
comment by rosso says the time has come to unlock the unlimited Pote-ntial of the Fernçalvenoo triumvirate (U17054)
posted 2 hours, 6 minutes ago
Looks like a disproportionate amount of the burden *might* fall on SMEs, when we could (and should) be seeing the chancellor go after tax dodging big business, bringing CGT back in line with income tax, and/or looking at taxing unrealised gains.

We’re still in the position where we have a sluggish and unproductive economy in no small part due to uncontested, exorbitant wealth extraction (rather than reinvestment) by the top 10%, and a lack of spending power amongst the bottom 50%; and until there’s a significant rebalancing which addresses those facts, we’re just titting around really.

There’s still apparently a great fear of taxing multinationals and high wealth individuals, because if we deign do so, “they won’t invest anymore”. Reality check: they aren’t investing now.
----------------------------------------------------------------------

Excellent post.
----------------------------------------------------------------------
No, it's the biggest pile of BS going.

Top 10% of earners is >£67k.

Anyone thinking that equates to 'exorbitant wealth' is off their fvcking rocker.