UK Budget 2021

[KDave]

Any thoughts on the budget?

Looks to me like they want the workers to be paying for the result of their lockdown, with tax thresholds frozen until 26. Many more people will be in 40 percent bracket by the end and many already in it will be getting rinsed unless they play games. Add inflation on top and they are effectively further impoverishing the working populace. 

I plan to hide a lot more into the sipp and ultimately pay less tax. Raise taxes and watch tax take fall. **** them. 

[Minimalist]

Well, I declare enough to pay down the mortgage and I doubt the SNP are going to raise more after adding 1% towards my tax bracket (touch wood). The remaining earned income will be distributed towards further Gold purchases for the pension/early retirement, offshore bank account and maybe a holiday to the Netherlands if the missus behaves because shes doing my tits in at the moment.

[Roy]

1 hour ago, KDave said:

Many more people will be in 40 percent bracket by the end and many already in it will be getting rinsed unless they play games.

Ha!

The 40% Tax Club, motto: Indocilis Privata Loqui

 

[Roy]

1 minute ago, Minimalist said:

if the missus behaves because she's doing my tits in at the moment.

You've got the instruction manual upside down!

[KDave]

At least BT is doing well out of the budget, every cloud 

 

[Stu]

Housing bubble has to collapse at some point, how much longer can the government keep propping it up?

[Minimalist]

2 minutes ago, Stu said:

Housing bubble has to collapse at some point, how much longer can the government keep propping it up?

I cant see it collapsing anytime soon, I wish I was wrong and see a massive correction but I cant. I suspect the Bank of England are copying the Federal Reserves "Term Asset-Backed Securities Loan Facility" where they are creating CDOs for hundreds of thousands of UK mortgages. All this MMT is absolutely insane.

[KDave]

49 minutes ago, Stu said:

Housing bubble has to collapse at some point, how much longer can the government keep propping it up?

Soon. Short term house prices are going up imo, 95 percent mortgages are back, stamp duty is gone, nothing has changed. They will prop them up until they can't. 

Only when interest rates rise will the game end. Inflation then rates go up, a few months left before first rate rise, maybe a couple of years left of house market steam, all imo.