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#ukbudget

3 Beiträge3 Beteiligte0 Beiträge heute
Bytes Europe

UK chancellor will double down despite growing opposition – POLITICO byteseu.com/860793/ #BritishPolitics #Budget #Debt #EconomicGovernance #EconomicPerformance #FiscalMeasures #Germany #GreatBritain #Growth #Inflation #InterestRates #KeirStarmer #RachelReeves #Stability #Tax #UKBudget #UnitedKingdom #welfare

Bytes Europe · UK chancellor will double down despite growing opposition – POLITICOFurthermore, in an unwanted backdrop to Wednesday’s upcoming statement, the U.K.’s GDP fell by 0.1 percent in January, down from a rise of 0.4 percent in December. And government officials expect the Office for Budget Responsibility to downgrade its forecast of 2 percent growth this year to around 1 percent. This means financial markets are watching Reeves closely. The wobble that saw government borrowing costs rise in January (before falling back down) was a sign the chancellor still has to prove her mettle. She thus wants to take immediate action on Wednesday, showing her “ironclad” rules are still “nonnegotiable” and
A.Stringer

"In a report published on Wednesday, it said the #UK can reach #netzero #emissions by 2050 while spending as little as 0.2% of the country’s gross domestic product or about £4.3 billion ($5.4 billion) each year on average. That’s a 75% reduction from the committee’s previous estimate in 2020 of net costs of £16.1 billion each year between 2025 and 2050.

Why Reaching Net Zero Is Getting Cheaper in the UK - Bloomberg
bloomberg.com/news/articles/20

#ukbudget
#climatechange
#UKeconomy
#Renewables

Jennifer Moore 😷

good article on economics misinformation

... from @sjwrenlewis:

"Most journalists are overworked and have little time to think, let alone consult experts. ... It is therefore possible for the media to present readers or viewers with a completely distorted view of reality, and for most journalists to be almost unaware that this is happening or that it is a problem."

mainlymacro.blogspot.com/2024/

Aloniaxx

Imagine you have a very small house that's in poor condition because previous owners neglected maintenance. Things barely work, bits are crumbling but the front paint job is astoundingly good and there's a new fancy fence and half-made jacuzzi. You have a budget. You opt to fix the roof and windows first, of course you do. Then walls, floors, electric, plumbing etc. You have to work 2hrs extra a week to pay for this AND do the work. Not a brilliant analogy but.. #UKbudget

Aloniaxx

The Martin Lewis programme on ITV this evening which very manically ran through as much as it could on key aspects of Reeves' Budget was well worth a watch. I will delve further into the pensions part of it to see if any of that applies to me. I don't think it does, but like he says, it pays to check. #UKbudget

Aloniaxx

"Rachel Reeves extends the freeze on Inheritance Tax thresholds. She closes a Tory loophole. She gives 100% relief to businesses up to £1million, & 50% over it, protecting family farms etc.
Seems like the #Disinformation we've been subjected to since July was all...Disinformation!" posted by Bryan Smith. A voice I trust. #UKbudget

Elisabeth Anderson :bt:

Sunak: “So can I ask the Prime Minister to ensure that the Coast to Coast (Walk) does indeed become Britain’s greatest National Trail, and in preparation for my return to the back benches, would he meet with me to discuss it?”

Starmer: “I thought he was about to ask me to join him on the walk, but certainly I will meet him."

Alan Partridge relaxes on a bed holding a dictaphone. The caption reads "COAST TO COAST WITH SUNAK AND STARMER".
ALT
#UKPol#UKBudget
BicycleBen

And rail fares are going up by more than inflation again too, also in the context of the bus fare cap rise, while drivers receive another long-standing fuel duty freeze.

So, no effort to remove car dependency and encourage more sustainable transport choices.

Guardian Live Blog: "Regulated rail fares to rise by 4.6% next year Rail passengers will face an inflation-beating rise in faces next year, the Treasury Red Book shows. It says that the annual regulated rail fares cap will rise by 4.6% on 2 March 2025, one percentage point above the RPI inflation rate of 3.6% in July (the usual benchmark). This will be the lowest absolute increase in three years, the Treasury says. This year they rose by 4.9%, because the government chose to cap the rise below the RPI rate. Rail passengers may perhaps wonder why they are getting hit, while drivers will benefit from another freeze to fuel duty...."
ALT
#UKLabour#UKBudget#FuelDuty
fak

I'm less interested in the spending side of the budget, so made my lunch. A lot of what is announced will very much be a wait and see how it actually gets implemented and how many years the announced money will be doled out over. Disappointed to seeing money going to carbon capture and 'green' hydrogen which is just a subsidy to the oil and gas industry. bbc.co.uk/news/live/cp9zrg128g #budget #budget2024 #ukbudget #ukpol

BBC NewsBudget 2024 live: Rachel Reeves says Budget will raise taxes by £40bn as she pledges NHS and housing investmentThe chancellor says the government will raise £25bn from increasing employers' National Insurance contributions, as Rishi Sunak hits out at "record" tax rises.
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