Everytime the government increase the financial burden on business the media say that companies will have to "absorb" some of it. Just how much do they think they can absorb? They don't absorb any of it. It all ends up in the price of the product, which is partly why everything is so expensive, and why so many find day-to-day living such a struggle. And yet they will still champion extra costs on the businesses supplying them with the things they need, thinking that the money is taken from shareholder funds. It most certainly is not.
The most important aspect of taxation is who is paying it, why is this never reported? This budget appears to place the burden more on those who can afford it.
I agree, I watched the entire budget, I couldn't place fault with anything aside from maybe the thresholds for NI employer contributions. I thought it was a well explained well thought out budget, of course Tory client media will bank on the fact that the average person isn't going to watch the whole thing, much of sunaks response to the budget was actually debunked within the budget statement, and they totally forget that the obr is releasing their report tomorrow and covering all of sunaks nonsense. He also forgets that hunt tried to block the report altogether claiming political shenanigans, it was meant to be released directly after the budget, but it's been moved to tomorrow instead
It may help if media presenters had to declare their personal tax interest before they pose as unbiased arbiters. Rigby looked like she'd been literally slapped.
@@Mattarm2720 Let's hope the public will see through the misrepresentations in the press, and see this budget for what it was - a good first step towards recovery.
@@Mattarm2720 Headlines are tonight in TV, and tomorrow morning in print. By 11am tomorrow, enough people will have 'seen' the budget to not bother looking again and the OBR report can be buried.
The workers/consumers will be the ones paying it in my opinion. Companies may be forced to offer less pay rise and/or increase cost of products and services. If UK businesses have to find £20b in their cost of doing business, then they will have to review their margin requirements in line with ROCE.
I've worked my socks off for 40+ years of my working life. I've never employed anyone and I've never required capital. But I've lived frugally and saved/invested hard. Me and my small one-man limited company are going to be hammered. So much for being responsible and saving for my retirement.... [same with my health: I've eaten healthily and kept fit - but, I know my medical 'needs' as far as the NHS is concerned, are less than the obese drinkers/smokers ahead of me in the queue...].
lol what? Labour are the party for multinationals. They much prefer everyone working for big corporations instead of starting their own business or finding their own path.
Need to take into account the black hole in the budget at the end. Comparing the March OBR figures is disingenious as they said their figures would have been materially different if given the full information
I agree this was really irresponsible analysis... I'm all for giving the government a hard time but outright misrepresenting data to put them in a bad light is wrong.
Tax and borrowing to increase enormously to the highest ever level in order 'to drive growth' - and the growth forecast is actually downgraded significantly as a result. Genius. Great job. Not
So good of them to place an extra big burden on many businesses that are still recovering from covid, rising interest on Covid loans, 2 times increases in wage costs in the last two years and now further wage costs and ni costs to employers. Where has any incentive gone to take a risk and start your own business or even try to maintain one. Might as well just work for the government which it seems we are effectively going to be doing from now on in. Hardly going for growth in my opinion. This and the previous governments incompetence and level of waste is a disgrace.
People shouldn’t be starting businesses though that’s part of the point. Like it or not we are a nation of workers. It’s wrong that people in the right place, time or with the privilege to have start up funds can earn so much more than the rest of us and not contribute more.
@@ArcadeStunfisk It is...we can't afford this borrowing. Put into perspective...we are now paying MORE in interest...EVERY YEAR...on the borrowing than we do for our schools.
But remember that 1993 was a crisis budget? So is this. The Tories have been frittering away money to multinationals and desperately hoping they would get voted out so they could try to put the blame on Labour. The Tories plans are pointless to compare to - no-one seriously believes that had they got in, they would have actually done that. They knew they were losing, so they could promise what they wanted. Had they given a serious (and honest) manifesto economically, it would have looked dramatically different.
Yes - how on earth do they expect that to play out; how is that going to encourage growth, there might be a short term gain, but then all the affects will be negative. They don't know what they are doing.
Taxing the super-rich will also mean they will just up sticks and leave the country. Why not stop illegal immigration, and all the spend that goes with it? Seriously.
It's funny how no one ever mentions Brexit anymore.. Look at how bad the UK economy was in the 70s before UK joined EU.. and now we are back to the same economy levels of 70s.. every other country moves forward in time.. we somehow went back 🤔🤔
"Just look at how much higher that line is and that may not look like an enormous difference between those two lines, but believe me it is". Proceeds to look at line and its 1% More at most. Sick of main stream media, nothing but click bait and propaganda peddling.
With regard to secondary Class 1, Class 1A or Class 1B National Insurance contributions, the amounts paid are part of the employment-remuneration costs for the employer that are deductible as an expense in computing the taxable profits or losses of the employer's trade, profession or vocation. So in other words, the national insurance contributions that an employer pays its tax deductible,as it is classed as a business expense! so when a business works out the profit for a tax bill, they look at business expenditures, which can be deducted from the tax bill. Guess what national insurance contributions falls into this category for a business.
Unintended consequences: more borrowing for DEI social programmes = lower future growth (including lower efficiencies) --> lower future tax receipts --> more borrowing. Rinse. Repeat....
@@nurby1824 Everyone I know who bought a council house are very pleased and it changed their lives. Fair comment to say that they should have built more to replace. No leader is perfect its mostly far from it, Pole was unfair and her greatest screw up. How ever, we could do with her now rather than the elite spineless cretins both sides of the spectrum now have.
A more material criticism of the tax burden is that from the 40s to the late 70s, marginal tax rates were 90% or near that. It made no sense for investors to take money out of their companies, they just reinvested profits into them so the businesses would expand. Achieving the same tax burden while the top 1% pays relatively nothing is obscene.
@@SillySatire Right, and now ask yourself what percentage of the income they get. The reason they pay more than they used to in recent times is that their share of income has increased disproportionately. Even getting them to pay the same average rate as the people working for them will require far more drastic measures, to include the other sources of income they have (i.e. other than working).
@@ANH-1977or we could temporarily reduce the absurd expenses that weve been engaging in like giving billions in foreign aid or tens of billions in carbon capture and green energy plans
@@ANH-1977 then we enforce border control to stop illegal immigration and increase the requirements for for legal immigration to slow that aswell. There was a time when we were only taking in 40 thousand people a year, we can go back to that if we wanted to
This budget is intending to bring in money, but in the long term. By investing in public services (via increased taxation) it creates jobs and encourages investment from both in and out of the UK, helping the economy. There is no budget which could have simply grown money and solved the issues we are experiencing in the UK without any suffering, there is no easy fix!
And what do we get for this? MORE UNION POWER. MORE STATE CONTROL. LESS WEALTH IN OUR POCKETS. LESS INDIVIDUAL FREEDOMS. LESS INVESTMENT. LESS ENTREPRENEURS INVESTING. LESS FOREIGN INVESTMENT. This woman is terrible for the uk. Time to protect our wealth.
I get the impression that the Government plans to borrow more - so higher interest repayments, tax businesses more - so they have lower profits for investment in new plant, kit, equipment, systems and spend more on day to day operating costs. No wonder the OBR says this budget will boost short term rather than long term growth. The presenter needed a chart of international growth comparisons. We are amongst lowest growing economies post Covid. Brexit effect?
We have low productivity, skills shortages, low unemployment, £3tn national debt. Tax has to be raised. Where it comes from (and where it’s spent) is the issue. Just saying that tax overall will increase, with no nuance or context, is just propaganda.The question is, will it hit the most or least able to carry the burden.
They need to take on more tax because we are expecting 315,000 migrants to arrive every year for the next five years.. that’s a lot of hotels .. but remember none of them will be paying taxes.. just us mugs.
Imagine giving up freely trading with the biggest market in the world (over 500 million) that's on our doorstep so that we could get a trade deal with a country on the other side of the world, market size 1/20 of the EU and who push lower standard of agricultural products into our supermarkets.
More taxes and debt a good budget? For every taxes collected, that is money taken away from consumers. The inflation is also forecast to be higher, which means mortgage rates would be higher for longer.
@@andrewwaller5913 let's just allow public services to crumble then. A police force, NHS and care system not fit for purpose. Or tax companies more (still less than any other G7 country) and put the money in the right places as we have had 14 years of the complete opposite which has put us in this mess
@@dareilori6413 I'm no labour fan but they won't want to borrow large amounts of money if inflation is up. This will mean having to pay back more due to higher interest rates.This looks to me like they are thinking interest rates are going to be coming down in the future hence the borrowing
Why? It's a great budget and is going to actually move the country forwards after 14 years of Tory stagnation. Just look at the markets reaction to the budget.
@@britcan4067 I heard a spokesperson for small business on channel 4 give it a positive view. 14 years of Tory corruption (VIP lanes, lying to the Queen, lying to the country). I guess some people might be bitter at having missed out on the free money.
look at what the Conservative party have done to the NHS ! How they’ve been trying to dismantle it and underfund it, so it’s not fit for purpose. I personally would rather pay higher taxes and have an NHS that works. What did the Conservative party do? They would use the national insurance what is the national insurance for? It’s for the NHS. Most people would agree that they would prefer to pay slightly more national insurance and have a fully working NHS then losing it. Austerity has been proven to be a false economy. It literally had a mistake on a spreadsheet that said it would work when, in fact, when the figures were done correctly said it was detrimental to an economy ! which has been proven.
So everyone who said tax the rich, well who’s the rich that even living in the uk, since the election an estimated 15,000 millionaires have already gone but I guarantee the rest will go now
Unemployment and inflation are going to soar.
Everytime the government increase the financial burden on business the media say that companies will have to "absorb" some of it. Just how much do they think they can absorb? They don't absorb any of it. It all ends up in the price of the product, which is partly why everything is so expensive, and why so many find day-to-day living such a struggle. And yet they will still champion extra costs on the businesses supplying them with the things they need, thinking that the money is taken from shareholder funds. It most certainly is not.
Every time? The burden has been on the people for how long now? Businesses need to pay up
@@MrIDFWUbusinesses won’t pay a penny extra, it’ll trickle down to the consumer and employees in a flash.. because the businesses can make it happen
Those hotel bills must be overdue.
So is your dole money
Migrants hotels cost 8million a day. Which is billions annually.
@@lynxo5695 the Tories are to blame for immigrants in hotels, Labour are actually processing asylum claims meaning the hotels are emptying
@@anatolydyatlov5196yeah giving them residency, which no one wants!
3bn a year on housing boat arrivals. 3bn on Ukraine every year....until as long as it takes.
The most important aspect of taxation is who is paying it, why is this never reported? This budget appears to place the burden more on those who can afford it.
I agree, I watched the entire budget, I couldn't place fault with anything aside from maybe the thresholds for NI employer contributions. I thought it was a well explained well thought out budget, of course Tory client media will bank on the fact that the average person isn't going to watch the whole thing, much of sunaks response to the budget was actually debunked within the budget statement, and they totally forget that the obr is releasing their report tomorrow and covering all of sunaks nonsense. He also forgets that hunt tried to block the report altogether claiming political shenanigans, it was meant to be released directly after the budget, but it's been moved to tomorrow instead
It may help if media presenters had to declare their personal tax interest before they pose as unbiased arbiters. Rigby looked like she'd been literally slapped.
@@Mattarm2720 Let's hope the public will see through the misrepresentations in the press, and see this budget for what it was - a good first step towards recovery.
@@Mattarm2720 Headlines are tonight in TV, and tomorrow morning in print. By 11am tomorrow, enough people will have 'seen' the budget to not bother looking again and the OBR report can be buried.
The workers/consumers will be the ones paying it in my opinion. Companies may be forced to offer less pay rise and/or increase cost of products and services. If UK businesses have to find £20b in their cost of doing business, then they will have to review their margin requirements in line with ROCE.
So to summarize- much higher taxes, higher government borrowing, somewhat higher investment but still lower growth? 😢😮
Seems like most of the taxation was placed on multinationals companies and billionaires.
Nonsense. It's all gone on small private business.
I've worked my socks off for 40+ years of my working life. I've never employed anyone and I've never required capital. But I've lived frugally and saved/invested hard. Me and my small one-man limited company are going to be hammered. So much for being responsible and saving for my retirement.... [same with my health: I've eaten healthily and kept fit - but, I know my medical 'needs' as far as the NHS is concerned, are less than the obese drinkers/smokers ahead of me in the queue...].
lol what? Labour are the party for multinationals. They much prefer everyone working for big corporations instead of starting their own business or finding their own path.
If it has, wave goodbye to multinationals companies and billionaires, and say hello to higher prices and mass unemployment.
@@jivebunny3765not true, small businesses are actually better off with this budget, they don’t have to pay ANY NI for their staff
I bet they could raise £B's on taxing all the gifts/bribes MP's get 😂😂😂😂😂
just claw back tory corruption and it would raise billions
it just about covers the 37 billion spent on track & trace
Need to take into account the black hole in the budget at the end. Comparing the March OBR figures is disingenious as they said their figures would have been materially different if given the full information
The “black hole” is what they want to pay themselves they are self serving, arrogant thieves
Absolutely. Not clear at all that this has been accounted for. Ergo, the comparison is unlikely to be valid
So, what are those lines hidden from OBR? Compensation? We look forward to seeing what OBR did not know in March that now known?
I agree this was really irresponsible analysis... I'm all for giving the government a hard time but outright misrepresenting data to put them in a bad light is wrong.
Lies beget lies
The UK is a sinking ship.
They don't want to compete with American companies like Intel, Twitter, Apple, Boeing and as a result the country becomes poorer.
But the brits told me “Brittania rules the waves” 😂😂😂
@@suntzu94 How's the weather in Moscow?
@@dancoy09 Economically better than the UK
It already has ! It's a submarine.
Tax and spend, we all knew it, a leopard never changes its spots
We all know, this is not a budget for Growth! It's a disaster for the UK! Labour, need to go!
We gave the conservatives a 14 year chance let’s relax and watch
Tax and borrowing to increase enormously to the highest ever level in order 'to drive growth' - and the growth forecast is actually downgraded significantly as a result. Genius. Great job. Not
So good of them to place an extra big burden on many businesses that are still recovering from covid, rising interest on Covid loans, 2 times increases in wage costs in the last two years and now further wage costs and ni costs to employers. Where has any incentive gone to take a risk and start your own business or even try to maintain one. Might as well just work for the government which it seems we are effectively going to be doing from now on in. Hardly going for growth in my opinion. This and the previous governments incompetence and level of waste is a disgrace.
People shouldn’t be starting businesses though that’s part of the point. Like it or not we are a nation of workers. It’s wrong that people in the right place, time or with the privilege to have start up funds can earn so much more than the rest of us and not contribute more.
@ so if people weren’t starting or operating businesses who employs everyone?
Good budget. Actual spending on the economy and developing the country.
Paying for hotels that's all we're doing
@@Dan-ze4qz Don't forget the attack submarines.
Great budget? - The forecast is now projecting lower growth as a consequence of the increased taxes.
Yep. Although joining Single Market would benefit everyone.
This is exactly what the Tory's failed to do. They were to busy looking after their friends, and robbing the poor.
We all knew after furlough our taxes in the future would increase. It's just happened a lot sooner than most were ready for.
Hopefully they do go after people who fiddled it, like she said.
should slash spending
If it were to pay for furlough you'd see taxes increase and borrowing come down; borrowing is actually increasing a lot too though.
@@PJH13 yep. Never balanced the books in 20 years. The government keep making a crisis to borrow more.
This is clearly the worst budget in a century.
Don't talk stupid
Where is all the money coming from if the country owes so much already
Boris Johnson and Liz Truss added 1 trillion to the debt. Hunt left a 22bn black hole. What a car wreck to work with.
Fed mate. keep printing the money= Inflation
More debt
100% transfer of money from private business to the state.
@@HS-sr9ww Unsuprisingly Mr Bot, the UK does not have a 'Fed' - we are not a federation.
All I see is us working class suffering even more, money taken from our hard work to be used for their gain and not ours.
Big taxes and big borrowing. Labour will destroy the economy as always. 😮
Can’t be any worse than the Tories have destroyed it over the past 14 years
@@ArcadeStunfisk It is...we can't afford this borrowing. Put into perspective...we are now paying MORE in interest...EVERY YEAR...on the borrowing than we do for our schools.
@@ArcadeStunfisk But I understand from the manifesto that Labour had a plan?
@@dovetonsturdee7033 Yes...but it wasn't a cunning one!!!
I don't like Sky, but they have some mathematically literate people who are great with graphs.
Great with gaffs too.
But remember that 1993 was a crisis budget? So is this.
The Tories have been frittering away money to multinationals and desperately hoping they would get voted out so they could try to put the blame on Labour.
The Tories plans are pointless to compare to - no-one seriously believes that had they got in, they would have actually done that. They knew they were losing, so they could promise what they wanted. Had they given a serious (and honest) manifesto economically, it would have looked dramatically different.
IncreasingNI contributions for Business, will come back to bite employees,in the form of Less increasing wages going forward,bad move👎👎
Or less employees who are expected to do all the job roles.
Mate they haven't increased out wages for time unless forced anyway. Employees very rare increase wages without force
Yes - how on earth do they expect that to play out; how is that going to encourage growth, there might be a short term gain, but then all the affects will be negative. They don't know what they are doing.
They don't raise wages anyway!!
Maybe some people shouldn’t be in business to begin with if they can’t pay their employees a decent wage….
Didn’t effect the migrants in any way what so ever
DEFORM types obsessed with migrants- what the feck does this have to do with that?
Free workforce 🎉
How do the cavemen always shoehorn migration into every topic. If only they applied that determination into improving communities. 😂
Staying in free accommodation is a job now 😂
Probably the most knobby comment thus far
Taxing the super-rich will also mean they will just up sticks and leave the country. Why not stop illegal immigration, and all the spend that goes with it? Seriously.
Sounds too much like common sense to me.
Their assets won’t leave they’re not magicians
Let the banks build cheap houses And rent them out to everyone
Banks are only in it for the money. If it wasn't for the law, the banks would charge 75% interest on late and missed payments. Loan sharks 🦈
i breath out CO2 ,
the next green tax
Hysteria
The road to serfdom.
4:08 In short, say hello to the Four Horses of the Apocalypse: fiscal deficit, money printing, devaluation and inflation.
not really any other option after 14 years of sell offs
Besides promising NOT to raise taxes, the increase for the NHS was conditional on reform.
This has been dropped and the media has simply not noticed.
Tax them rich! Love it and look at the Russian bots here trying to downplay everything
Yeah instead they're just taxing small businesses
@@leonmorris7862 make sure to really look at the budget. Research pls!
Growth in 2026 was Never going to be 2.2% a 10 year old could see that.
Indeed fiddled number orginally by the tories ofc
@spacetime3 So.
WEF - tax and control the people - Starmer loves WEF over The Commons - wake up - we are the people this affects
It's funny how no one ever mentions Brexit anymore.. Look at how bad the UK economy was in the 70s before UK joined EU.. and now we are back to the same economy levels of 70s.. every other country moves forward in time.. we somehow went back 🤔🤔
"Just look at how much higher that line is and that may not look like an enormous difference between those two lines, but believe me it is". Proceeds to look at line and its 1% More at most. Sick of main stream media, nothing but click bait and propaganda peddling.
1% of a nations GDP is a lot of money 😂
@@oipoip3exactly, some ppl really need to study a financial course 🤣
bro doesnt know what GDP is
Sure this will be unpopular, but it has to be done.
Eliminate ILLEGAl entry to this country might save a couple of quid
Ultimately Ai and US corporates are going to decimate UK economy over the next 10 years. So not sure any of this will help.
Same old Labour, eventually they will run out of other peoples money!
2:25 The words public sector and investment don't really compute!😂😅
With regard to secondary Class 1, Class 1A or Class 1B National Insurance contributions, the amounts paid are part of the employment-remuneration costs for the employer that are deductible as an expense in computing the taxable profits or losses of the employer's trade, profession or vocation. So in other words, the national insurance contributions that an employer pays its tax deductible,as it is classed as a business expense! so when a business works out the profit for a tax bill, they look at business expenditures, which can be deducted from the tax bill. Guess what national insurance contributions falls into this category for a business.
London's about to get a whole lot richer and the rest of us are about to get a whole lot poorer, gunna be some fun times ahead.
Unintended consequences: more borrowing for DEI social programmes = lower future growth (including lower efficiencies) --> lower future tax receipts --> more borrowing. Rinse. Repeat....
OH look, when Thatcher was in power the burden was at record lows
Maybe it was all the money from flogging our public services and council homes?
And opportunities for young people leaving school was non existent. Typical Tory comment.
It would be she sold everything off and tried to implement the poll tax after screwing eveybody over and we all know how that ended for her.
@@nurby1824 Everyone I know who bought a council house are very pleased and it changed their lives.
Fair comment to say that they should have built more to replace.
No leader is perfect its mostly far from it, Pole was unfair and her greatest screw up.
How ever, we could do with her now rather than the elite spineless cretins both sides of the spectrum now have.
Good. The big companies need to pay up more 🎉
Problem, a dangerously indebted country, the Labour party's answer, more grossly irresponsible borrowing. The future is bleak indeed.
Borrowing from their puppet masters like they all do
They said it's a budget not to spook the markets, so why has the Euro gone down
A more material criticism of the tax burden is that from the 40s to the late 70s, marginal tax rates were 90% or near that. It made no sense for investors to take money out of their companies, they just reinvested profits into them so the businesses would expand. Achieving the same tax burden while the top 1% pays relatively nothing is obscene.
I think not. The top 1% pays 30% of all income tax.
@@SillySatire Right, and now ask yourself what percentage of the income they get.
The reason they pay more than they used to in recent times is that their share of income has increased disproportionately.
Even getting them to pay the same average rate as the people working for them will require far more drastic measures, to include the other sources of income they have (i.e. other than working).
A lot of extra the taxation is for long term public capital projects.
UK is toast😂
All this government does is increase tax tax and tax, regulate regulate and regulate. So un-innovative!!
We need to keep learning the same thing over and over.
Increases taxes and increasing spending leads to disaster...always.
Next: taxes inevitably put up inflation. Interest rates up, people losing homes. More NHS £managers doesn't make me happy.
That government borrowing chart is scary... Reform will have a right mess to clear up come 2029.
Great charts, thks.
Out of the frying pan, straight into the fire.
increase taxes on working people to put more economic migrants up in social housing
Lazy comment. Go get a better job.
How about they stop funding the war in Ukraine and give to people in need in the UK that are starving
We are going to be poor under Labour than under the previous government. I’m a Labour voter I can’t believe I said that.
I think the main question is how does this affect the price of Freddos 😂 thats a real deal breaker
15 billion a year in foreign aid, charity begins at home.....
We've got £3 trillion debt and they want to borrow more?
@@ANH-1977or we could temporarily reduce the absurd expenses that weve been engaging in like giving billions in foreign aid or tens of billions in carbon capture and green energy plans
@ANH-1977 who are they? Can someone define?
@@ANH-1977 then we enforce border control to stop illegal immigration and increase the requirements for for legal immigration to slow that aswell. There was a time when we were only taking in 40 thousand people a year, we can go back to that if we wanted to
@@Peter-xx6tz Who's going to tell him that brexit happened!
3 trillion debt caused by corrupt tory mismanagement
UK ready to bring back the Window Tax 🤦♂️
I'm sure that i will survive the tax exemptions on private schools and private jets
This is an EU style budget and sets the UK firmly back in the EU mould.
Is this budget some kind of revenge attack against people who have physical components to their job?
the 3bn given to the ukraine could be used to pay the heating for the pensioners wot a crap budget
This is just a recirculation of our money budget. She is spending more of our money by taxing us more rather than a budget to create and grow money.
This budget is intending to bring in money, but in the long term. By investing in public services (via increased taxation) it creates jobs and encourages investment from both in and out of the UK, helping the economy. There is no budget which could have simply grown money and solved the issues we are experiencing in the UK without any suffering, there is no easy fix!
More debt longer inflation
Are we any nearer to a proper definition of a Working Person from Labour after this?
Raising taxes for those who CAN easily pay higher taxes.
Should rename the Labour Party the Pinnochio Party.
pinnochio is hunts avatar
They didn't lie about anything though
And what do we get for this?
MORE UNION POWER. MORE STATE CONTROL. LESS WEALTH IN OUR POCKETS. LESS INDIVIDUAL FREEDOMS. LESS INVESTMENT. LESS ENTREPRENEURS INVESTING. LESS FOREIGN INVESTMENT.
This woman is terrible for the uk. Time to protect our wealth.
Boris Johnson and Liz Truss added 1 trillion to the debt. Hunt left a 22bn black hole. What a car wreck to work with.
We never had a 3 trillion debt back in 1993. Things are not going to get better under Labour or Tories.
Who is paying this tax burden is most important. Great budget.
but this will lower wages and negatively impact the employment rate - both terrible for growth which is ultimately our best way out this hole
And this is only the first budget
For “public investment” read giving the public sector, IE the unions that fund labour, more money for doing even less.
How does raising taxes encourage growth?
Supporting the young and poor, and taxing the rich is really bad, say the rich
I get the impression that the Government plans to borrow more - so higher interest repayments, tax businesses more - so they have lower profits for investment in new plant, kit, equipment, systems and spend more on day to day operating costs.
No wonder the OBR says this budget will boost short term rather than long term growth.
The presenter needed a chart of international growth comparisons. We are amongst lowest growing economies post Covid. Brexit effect?
Starmer has `hit the ground stumbling`
We have low productivity, skills shortages, low unemployment, £3tn national debt.
Tax has to be raised. Where it comes from (and where it’s spent) is the issue.
Just saying that tax overall will increase, with no nuance or context, is just propaganda.The question is, will it hit the most or least able to carry the burden.
It will. No small business will absorb the tax bill. The prices for consumers customers will go up.
But the taxes are raised only for businesses and very wealthy selling assets
So... 3bn a year for Ukraine but 1.5bn for NHS beds, hubs and scanners... 🤔
Fish and chips was less than 2 bob in 1940s compare that to today of a tenner.... Tony cuenca
They need to take on more tax because we are expecting 315,000 migrants to arrive every year for the next five years.. that’s a lot of hotels .. but remember none of them will be paying taxes.. just us mugs.
Putting a negative spell of course, the things will look terrible
But actually, I think that a budget for the future and will help a lot in long-term
Simplest way to boost Growth= get into Single Market
DOH 😂
Yep the world's largest trading unit which is just 20 miles from our shores
Imagine giving up freely trading with the biggest market in the world (over 500 million) that's on our doorstep so that we could get a trade deal with a country on the other side of the world, market size 1/20 of the EU and who push lower standard of agricultural products into our supermarkets.
then eat British and we barely use supermarkets
They are comparing the growth forecast for the Tories which the OBR has now said was wrong due to being mislead. That's a bit dishonest.
Sterling crisis on the immediate horizon.
They can always debase the currency 🙃
Great news for our EU membership application.
REFORM UK WILL SORT THIS MESS OUT WHEN THEY GET IN 🇬🇧🇬🇧🇬🇧🇬🇧
the uk will be too broken to fix by then, wake up the uk is finished.
As much as I despise Starmer, this is actually a great budget.
More taxes and debt a good budget? For every taxes collected, that is money taken away from consumers. The inflation is also forecast to be higher, which means mortgage rates would be higher for longer.
Deluded nonsense
@@andrewwaller5913 let's just allow public services to crumble then. A police force, NHS and care system not fit for purpose. Or tax companies more (still less than any other G7 country) and put the money in the right places as we have had 14 years of the complete opposite which has put us in this mess
@@dareilori6413 I'm no labour fan but they won't want to borrow large amounts of money if inflation is up. This will mean having to pay back more due to higher interest rates.This looks to me like they are thinking interest rates are going to be coming down in the future hence the borrowing
Higher taxes, higher debt, higher inflation AND stagnant growth (as per the OBR)?!
Get labour out ffs
1000000%
Why? It's a great budget and is going to actually move the country forwards after 14 years of Tory stagnation. Just look at the markets reaction to the budget.
@@TurtlesandStuff. ask the small businesses owners!
@@britcan4067 I heard a spokesperson for small business on channel 4 give it a positive view. 14 years of Tory corruption (VIP lanes, lying to the Queen, lying to the country). I guess some people might be bitter at having missed out on the free money.
@@britcan4067Brexit.
The rich people are all freaking out! GOOD! Signs that it was a great budget.
This is all Sunak's fault for making himself unelectable with his mad grinning and even madder policies.
a bit harsh these taxes m'lord
look at what the Conservative party have done to the NHS ! How they’ve been trying to dismantle it and underfund it, so it’s not fit for purpose. I personally would rather pay higher taxes and have an NHS that works. What did the Conservative party do? They would use the national insurance what is the national insurance for? It’s for the NHS. Most people would agree that they would prefer to pay slightly more national insurance and have a fully working NHS then losing it. Austerity has been proven to be a false economy. It literally had a mistake on a spreadsheet that said it would work when, in fact, when the figures were done correctly said it was detrimental to an economy ! which has been proven.
glad i left uk, tax is out of control
A weaker economy is called a recession.
It's not. A recession is 2 consecutive quarters of negative growth. Positive growth however small is still growth.
So everyone who said tax the rich, well who’s the rich that even living in the uk, since the election an estimated 15,000 millionaires have already gone but I guarantee the rest will go now
A great budget for us working people.
Really?