Budget Predictions & thoughts

[0iD]

For those who are interested Outside of rises in duty on Alcohol, Tobacco & (possibly) Fuel, what are people's predictions for todays budget announcements?

[MD]

I still reckon fuel duty will be delayed for the election boost and I am also hearing under £250k stamp duty will be scrapped which is a good thing I think.

Either way, given Im off to the US next week I just hope the budget has something to stimulate the rate - its in freefall at the moment...

[TheAnimus]

CGT will rise or some other way of taxing those rich people.

As mentioned fuel duty rise will be postponed because most voters are moronically thick and fickle.

[kalniel]

CGT will rise or some other way of taxing those rich people.

As mentioned fuel duty rise will be postponed because most voters are moronically thick and fickle.

Agreed.

I would have liked to see less VED, more fuel duty, alcohol duty based on unit strength.

I'm liking the sound of the 250k stamp duty exemption rise though

[badass]

CGT will rise or some other way of taxing those rich people.

As mentioned fuel duty rise will be postponed because most voters are moronically thick and fickle.

Couldn't have put it better myself. Labour pandering to Labour voters

[Phage]

Apart from Dooooooomed ?
It's going to be an election budget. Green investments, increases everywhere but fuel. Of course this makes no difference as the new parliament will not honour it anyway.

[Spud1]

I think we'll see a scrapping of stamp duty under 250k..but only for First time buyers (suits me fine,looking to buy in the next 6 months) and it will have a time limit on it.

He'll probably suspend fuel duty for another <x months> due to current high prices at the pumps, and i'd guess that if he can he will try and limit rises on alcohol + tobacco.

looking forward to seeing in a few hours!

[Phage]

It had better be fairly harsh though, as investors will be looking to see the Govt control debt quickly. Otherwise the cost of borrowing will increase, which will feed through to us.

[TheAnimus]

Apart from Dooooooomed ?

[Phage]

Who is that ? Looks like something from Pink Floyd's The Wall ?

[oolon]

Lots of promises which all will be deferred 1-2 years so they have to do nothing. Taxes up.. via stealth, (perhaps bringing tax measures forward). Bank tax extended (as it got more money than expected). CGT up, allowances frozen.

[mikemikemi]

Ideally looking for stamp duty under 250k to be scrapped, since I want to buy a house soon.

Delay on fuel duty is a bonus as my car is real thirsty.

[Salazaar]

Who is that ? Looks like something from Pink Floyd's The Wall ?

It's Ms. Bitters...

[TheAnimus]

Ideally looking for stamp duty under 250k to be scrapped, since I want to buy a house soon.

Delay on fuel duty is a bonus as my car is real thirsty.

Right, hate to tell you this wont help you, if anything it will increase the gap between rich land owners and you.

This is why I get so fed up, people vote for something that will have the exact opposite effect to what they should be asking for.

Ok, so stamp dutey on a £200k place gets axed, but that's true for the other people buying it too.

The total cost of the property you can buy might well look like

TotalAffordable = (CashDeposit + Mortgage) - (StampDuty + ConvancingFees + SurveyFees + MortgageFee)

So, if we set that stampduty to 0, its the same for everyone right?

Now if we assume that house prices are suply and demand based (which they generally are)

HousePrices = Max(Buyers{TotalAffordable})

With me?

House Prices will rise.

So all this does is to help the land owners, like me, and even then I'd rather they didn't because I'm concious of the deficit.

[Zak33]

Animus is right (heaven forfend)

If Stamp duty goes on those houses, they'll go up in price immediately.

I wonder what is gonna happen to CARS, and CAR TAX, and COMPANY CAR TAX.

Cos after all.... people who drive are evil

[TheAnimus]

Animus is right (heaven forfend)

Why do people find it shocking and surprising when they agree with me?