Uk Budget Not Good News For Pensioners

[theblether]

Who is going to pay the pensions if there are no kids???????

And the worlds population continues to rise ad infinitum, cannot go on.

Population growth is not an issue with the indigenous UK population.

[theblether]

THeblether.............. I am very happy with the raising of the allowance to £9205, soon it will be £10,000, the first objective of the libdem part of the coalition, but if it is to be fair to pensioners ( and dont forget they have had the savings decimated by the .5% base rate) then I think its a bit "rich" to think the 5 million pensioners can help out here. There are a lot pensioners here so it is going to effect them from 2013 when allowances will not change, It looks like 2 years before we join the single allowance maybe 3, so added to the subject we dont talk about for a while, yesterday was not a good day. It might an idea for anyone who is a trifle miffed to look at parliament.uk , find you MP's email and fire off a few broadsides to them.

I say again raising the allowances for the less well off in society I fully support, asking the pensioners to fall into line and help pay for it I do not!

I am not unaware of the problems faced by pensioners as a result of yesterdays budget. I see the allowance has been brought into parity for next year and that is bad news, however I have a shock for you.

Many pensioners are prepared to accept this, as it is obvious to everyone that the public finances need all the help they can get. there is a report that as of next year it could leave a certain band of pensioners as much as £197.00 a year worse off. These are not the poorest pensioners, they are the middle bracket, the one's with an income of between £10,500 - £24,000 a year approx.

The interesting thing is, the first vox pops by pensioners in this bracket have been in favour of the move. We are all in it together is the cry.

I'll tell you where we are liable to fall out exeter...........the best laid plans of mice and men go wrong............the current pensioner generation are by far and away the richest and healthiest in history, with longevity going through the roof.

We were all warned about the costs to the country of the baby boomers retiring, and not enough money was set aside over the last thirty years to pay for it. now the and we are in crisis.

Everybody has to pay exeter.............everybody...........and that includes the pensioners.

[F1fanatic]

Except "everybody" is not paying. Those earning over 150 grand are getting a tax cut and doing quite nicely.

[theblether]

Except "everybody" is not paying. Those earning over 150 grand are getting a tax cut and doing quite nicely.

That those bad people who represent 1% of the workforce but pay 27% of the income tax? They are very naughty........especially when they choose to move overseas and just not pay into the UK economy at all.

Look around you f1 , you are surrounded by ex-pats on massive salaries who are skipping away from high taxation Western economies. There is a balancing act to be done here, between getting the tax at a level where it is fair, and at a level where that band will accept it and remain domiciled in the UK.

This category are now being hit with a 7% sales tax on homes over £2 million, that will hit them right where it hurts, in their elective spending. However many people choose to ignore that new tax band as the 50% reduction makes all the headlines.

[F1fanatic]

Except "everybody" is not paying. Those earning over 150 grand are getting a tax cut and doing quite nicely.

That those bad people who represent 1% of the workforce but pay 27% of the income tax? They are very naughty........especially when they choose to move overseas and just not pay into the UK economy at all.

Look around you f1 , you are surrounded by ex-pats on massive salaries who are skipping away from high taxation Western economies. There is a balancing act to be done here, between getting the tax at a level where it is fair, and at a level where that band will accept it and remain domiciled in the UK.

This category are now being hit with a 7% sales tax on homes over £2 million, that will hit them right where it hurts, in their elective spending. However many people choose to ignore that new tax band as the 50% reduction makes all the headlines.

Except many don't pay anywhere near the applicable tax rate - their tax accountants ensure that. Not to mention those companies that were 'let off' the tax bill by the wonderful man in charge of taxation.

You may be surrounded by ex-pats on massive salaries, but that is not my experience. Yes, there are many wealthy ex-pats around, but few are employed.

The 7% stamp duty on properties worth over 2m? That may annoy them, but most are happy where they are living and either will not move or, are so wealthy it will not seriously hurt them.

[transam]

Many people in the UK think its their absolute right to have a kid whether they can afford it or not, it always amazes me usually on their second/third marriage.

To keep this Thailand related, many are the foreign men in Thailand who have dumped their kids in the UK, pay nothing for their upkeep and start a new life, new family in Thailand.

Hmmmmmmmmmm, the folk you are talking about are now paying for kids that Thai blokes have dumped.

Very sorry, forgot, but reading your point of view, what is your opinion of farang parents who's kids emigrate for a or their better life and leaving ma and pa behind. ?

[theblether]

Except "everybody" is not paying. Those earning over 150 grand are getting a tax cut and doing quite nicely.

That those bad people who represent 1% of the workforce but pay 27% of the income tax? They are very naughty........especially when they choose to move overseas and just not pay into the UK economy at all.

Look around you f1 , you are surrounded by ex-pats on massive salaries who are skipping away from high taxation Western economies. There is a balancing act to be done here, between getting the tax at a level where it is fair, and at a level where that band will accept it and remain domiciled in the UK.

This category are now being hit with a 7% sales tax on homes over £2 million, that will hit them right where it hurts, in their elective spending. However many people choose to ignore that new tax band as the 50% reduction makes all the headlines.

Except many don't pay anywhere near the applicable tax rate - their tax accountants ensure that. Not to mention those companies that were 'let off' the tax bill by the wonderful man in charge of taxation.

You may be surrounded by ex-pats on massive salaries, but that is not my experience. Yes, there are many wealthy ex-pats around, but few are employed.

The 7% stamp duty on properties worth over 2m? That may annoy them, but most are happy where they are living and either will not move or, are so wealthy it will not seriously hurt them.

Tax avoidance and tax evasion are two separate issues.........the government is well aware of that. The best way to avoid paying tax is to sit in Monaco and run a UK company, just as Philip Green does, and there is nothing that can be done about it.

These people already pay a vastly disproportionate amount of the income tax bill, they are not the problem, the biggest problem is the amount of people sitting idle, either voluntarily ( which drives us all mad ) or through no choice of their own ( which makes us despair ).

Where I live and work the level of welfare dependency is scandalous, I think it's the highest in the UK. This is the primary problem for the country and this is where the government has to be commended for trying to encourage people back to work by removing the income tax burden from the low paid.

edited for grammar

Edited March 22, 2012 by theblether

[F1fanatic]

Except "everybody" is not paying. Those earning over 150 grand are getting a tax cut and doing quite nicely.

That those bad people who represent 1% of the workforce but pay 27% of the income tax? They are very naughty........especially when they choose to move overseas and just not pay into the UK economy at all.

Look around you f1 , you are surrounded by ex-pats on massive salaries who are skipping away from high taxation Western economies. There is a balancing act to be done here, between getting the tax at a level where it is fair, and at a level where that band will accept it and remain domiciled in the UK.

This category are now being hit with a 7% sales tax on homes over £2 million, that will hit them right where it hurts, in their elective spending. However many people choose to ignore that new tax band as the 50% reduction makes all the headlines.

Except many don't pay anywhere near the applicable tax rate - their tax accountants ensure that. Not to mention those companies that were 'let off' the tax bill by the wonderful man in charge of taxation.

You may be surrounded by ex-pats on massive salaries, but that is not my experience. Yes, there are many wealthy ex-pats around, but few are employed.

The 7% stamp duty on properties worth over 2m? That may annoy them, but most are happy where they are living and either will not move or, are so wealthy it will not seriously hurt them.

Tax avoidance and tax evasion are two separate issues.........the government is well aware of that. The best way to avoid paying tax is to sit in Monaco and run a UK company, just as Philip Green does, and there is nothing that can be done about it.

These people already pay a vastly disproportionate amount of the income tax bill, they are not the problem, the biggest problem is the amount of people sitting idle, either voluntarily ( which drives us all mad ) or through no choice of their own ( which makes us despair ).

Where I live and work the level of welfare dependency is scandalous, I think it's the highest in the UK. This is the primary problem for the country and this is where the government has to be commended for trying to encourage people back to work by removing the income tax burden from the low paid.

edited for grammar

See my earlier post .

Edit - as for people like Philip Green, the loop holes could be closed. Unfortunately that is not a priority for any government in the UK, as they are either enjoying the 'breaks' or intend to do so...

Edited March 22, 2012 by F1fanatic

[MAJIC]

Who is going to pay the pensions if there are no kids???????

We can just up the pension age. Who ever heard of a busy exec getting Alzheimers?

That's the whole point of raising the Pension age,if you survive to pick up your Pension you will have a meagre existence to look forward to,assuming you don't have serious illnesses,that will see you off quicker..... A politicians dream.

[nong38]

Who is going to pay the pensions if there are no kids???????

And the worlds population continues to rise ad infinitum, cannot go on.

Is your solution then to import a few million youth from Pakistan, Bangladesh, Indonesia, Congo etc.?

Heaven forbid, or allah come to think of it.

[nong38]

If you have a look at todays budget you will see that the personal allowances for ordinary working people has a rise to £9205 for year begining april 2013. For a pensioner it is frozen at £10500, it will continue to be frozen until the personal tax allowance for working folk catches up. There is to be no difference between working and pensioner allowances eventually, You need to be aware of this, you are going to see a few years of no increases until the equilibrium is reached, this not good news.

Just to clarify 2011-2012 allowances are as below

Personal Allowance

2011-12 tax year

Basic

£7,475

Age 65-74

£9,940

Income Limit £24,000

Age 75 and over

£10,090

Income Limit £24,000

In 2012-13 the Age Allowances will be 10,500 and 10,660 respectively with an increased limit of 25,400. So they have not been "frozen" this year and they have actually been increased, albeit at a lesser rate.

It's from 2013-14 onwards that the age allowances they will then be frozen at these levels, until the standard PA reaches the age allowances and they are aligned

Not too bad this year as everyone is getting an increase, with the PA looking generous in isolation. You can bet tho' that once they're aligned it's likely in the future increases in PAs across the board will be poor.

AS orignally stated by OP 2013 is the date when things start to change and it will not benefit pensioners, esp those on a tight budget here in Thailand.

[nong38]

Who is going to pay the pensions if there are no kids???????

And the worlds population continues to rise ad infinitum, cannot go on.

Population growth is not an issue with the indigenous UK population.

It will be when the non indegineous population are not working need taking care of and the original English dont aprreciate the sistuation, not being racist here, jst being realist. You cannot keep increasing the workers to pay for whats gone on before as NZ found some years ago, This problem needs adressing soon not keep pushing it away, just give people the time to re adjust, the alternative is a breakdown of law and order.

[nong38]

Except "everybody" is not paying. Those earning over 150 grand are getting a tax cut and doing quite nicely.

That those bad people who represent 1% of the workforce but pay 27% of the income tax? They are very naughty........especially when they choose to move overseas and just not pay into the UK economy at all.

Look around you f1 , you are surrounded by ex-pats on massive salaries who are skipping away from high taxation Western economies. There is a balancing act to be done here, between getting the tax at a level where it is fair, and at a level where that band will accept it and remain domiciled in the UK.

This category are now being hit with a 7% sales tax on homes over £2 million, that will hit them right where it hurts, in their elective spending. However many people choose to ignore that new tax band as the 50% reduction makes all the headlines.

Except many don't pay anywhere near the applicable tax rate - their tax accountants ensure that. Not to mention those companies that were 'let off' the tax bill by the wonderful man in charge of taxation.

You may be surrounded by ex-pats on massive salaries, but that is not my experience. Yes, there are many wealthy ex-pats around, but few are employed.

The 7% stamp duty on properties worth over 2m? That may annoy them, but most are happy where they are living and either will not move to or, are so wealthy it will not seriously hurt them.

7% only applicable when you move, so dont move, no tax paid!

Too many people setting up ltd companies and paying themselves the minimum wage before tax and a dividend to make the difference up, this is not sharing the grief and it is a appaling to think that pensioners will have to help bail out these folks.

[nong38]

THeblether.............. I am very happy with the raising of the allowance to £9205, soon it will be £10,000, the first objective of the libdem part of the coalition, but if it is to be fair to pensioners ( and dont forget they have had the savings decimated by the .5% base rate) then I think its a bit "rich" to think the 5 million pensioners can help out here. There are a lot pensioners here so it is going to effect them from 2013 when allowances will not change, It looks like 2 years before we join the single allowance maybe 3, so added to the subject we dont talk about for a while, yesterday was not a good day. It might an idea for anyone who is a trifle miffed to look at parliament.uk , find you MP's email and fire off a few broadsides to them.

I say again raising the allowances for the less well off in society I fully support, asking the pensioners to fall into line and help pay for it I do not!

I am not unaware of the problems faced by pensioners as a result of yesterdays budget. I see the allowance has been brought into parity for next year and that is bad news, however I have a shock for you.

Many pensioners are prepared to accept this, as it is obvious to everyone that the public finances need all the help they can get. there is a report that as of next year it could leave a certain band of pensioners as much as £197.00 a year worse off. These are not the poorest pensioners, they are the middle bracket, the one's with an income of between £10,500 - £24,000 a year approx.

The interesting thing is, the first vox pops by pensioners in this bracket have been in favour of the move. We are all in it together is the cry.

I'll tell you where we are liable to fall out exeter...........the best laid plans of mice and men go wrong............the current pensioner generation are by far and away the richest and healthiest in history, with longevity going through the roof.

We were all warned about the costs to the country of the baby boomers retiring, and not enough money was set aside over the last thirty years to pay for it. now the and we are in crisis.

Everybody has to pay exeter.............everybody...........and that includes the pensioners.

As regards the vox pops I saw one in Northallerton, one pensioner thought it was o, the rest did not, like most things in life people do not realize what has happened until it happens to them! Edited March 22, 2012 by nong38

[letitbe]

Come on exeter........£10500 a year tax free is beyond what anyone would have expected years ago. The budget has been excellent for low income people of working age, and it has to be commended for removing a lot of people from taxation.

No one expected the personal allowance to get to this level so quickly.......so a little solidarity with the poor working class is called for here.

Come on exeter........£10500 a year tax free is beyond what anyone would have expected years ago. The budget has been excellent for low income people of working age, and it has to be commended for removing a lot of people from taxation.

No one expected the personal allowance to get to this level so quickly.......so a little solidarity with the poor working class is called for here.

+1 its nonsense that someone earning less than 15000 gbp a year let alone 10 should pay any tax at all

[theblether]

Well at the end of the day........the big bill has to be paid. Some win, some lose......sounds like every budget I've ever heard.

[GuestHouse]

I'm not sure what all the fuss is here. £10500 tax free is very generous. Pensioners who are using all of this allowance are living way above the standard of living of pensioners who only have the State Pension to live on.

Pensioners I talk to in the UK all seem to be of the opinion that they are better off now than they have been at any time in their life.

The people who are suffering are working families with young children - and as I see it this has been a good budget for them.

[Kwasaki]

I'm not sure what all the fuss is here. £10500 tax free is very generous. Pensioners who are using all of this allowance are living way above the standard of living of pensioners who only have the State Pension to live on.

Pensioners I talk to in the UK all seem to be of the opinion that they are better off now than they have been at any time in their life.

The people who are suffering are working families with young children - and as I see it this has been a good budget for them.

I agree, good on you, you make a good poignant point.

Edited March 22, 2012 by Kwasaki

[theblether]

Added without comment...........

http://www.bbc.co.uk/news/business-17473721

except to say all is not what it seems at first glance.

[theblether]

I'm not sure what all the fuss is here. £10500 tax free is very generous. Pensioners who are using all of this allowance are living way above the standard of living of pensioners who only have the State Pension to live on.

Pensioners I talk to in the UK all seem to be of the opinion that they are better off now than they have been at any time in their life.

The people who are suffering are working families with young children - and as I see it this has been a good budget for them.

I must agree with you Guesthouse, my Aunt could not believe her luck when she turned 60. She said she didn't know what people were complaining about however as a caveat, she had been on unemployment benefit / income support after losing her job at 57. The pension resulted in an uprating in her income.

I can see why people leaving employment and taking a pension would find it hard to adjust.

[elliss]

Who is going to pay the pensions if there are no kids???????

We can just up the pension age. Who ever heard of a busy exec getting Alzheimers?

That's the whole point of raising the Pension age,if you survive to pick up your Pension you will have a meagre existence to look forward to,assuming you don't have serious illnesses,that will see you off quicker..... A politicians dream.

[elliss]

Who is going to pay the pensions if there are no kids???????

We can just up the pension age. Who ever heard of a busy exec getting Alzheimers?

That's the whole point of raising the Pension age,if you survive to pick up your Pension you will have a meagre existence to look forward to,assuming you don't have serious illnesses,that will see you off quicker..... A politicians dream.

the right horrible george osborne MP.

i intend offerIng tax relief, for pensioners,

opting for voluntary euthanasia.

[MAJIC]

I'm not sure what all the fuss is here. £10500 tax free is very generous. Pensioners who are using all of this allowance are living way above the standard of living of pensioners who only have the State Pension to live on.

Pensioners I talk to in the UK all seem to be of the opinion that they are better off now than they have been at any time in their life.

The people who are suffering are working families with young children - and as I see it this has been a good budget for them.

Yes I also believe that is correct,but it must said, that was brought about by the previous Government,even this years Pension increase (5.2%) was created by inflation.

[exeter]

I watched the budget and have seen various interviews since. The chancellor and his assistants are trying to use the up coming £5 increase in the pension to cover for the amount of cash soo to be lost to pensioners. As has been said this will not come into effect until 2013 when people will start notice that things are not as good as they thought they were going to be, so people today may think its ok soon they may not.

Winston Churchill put these measures of a high tax allowance for pensioners in place 100 years ago, I think he would not be happy with this decision today and to say that pensioners have not played there part for the country is not true IMOP the holding down of interest rates has hit there spending power in their savings whilst home buyers/owners have benefited from low mortgage rates.

As is always the case in emotive issues, it how it affects you and the points you wish to raise to bolster your view. One day, with luck, everyone will be a pensioner, if you are not one now, perhaps you will think anew as that time approaches.

Incidentally the chancellor did say that all pensioners will benefit from the £5 a week increase, a slip of the tongue no doubt.

[bendix]

One day, with luck, everyone will be a pensioner

I certainly hope not. If everyone is a pensioner that will effectively mean the end of the human race . . . .

[GuestHouse]

840,000 people on low incomes have been taken out of paying income tax and people are whinging about pensioners not being given an increase in their tax free allowance which is already a higher allowance than given to people who are working and carrying pensioners and everyone else who does not work on their pay packet deductions.

A helping hand to 840,000 people at the bottom of the ladder -that's not good news, it's great news

[bendix]

840,000 people on low incomes have been taken out of paying income tax and people are whinging about pensioners not being given an increase in their tax free allowance which is already a higher allowance than given to people who are working and carrying pensioners and everyone else who does not work on their pay packet deductions.

A helping hand to 840,000 people at the bottom of the ladder -that's not good news, it's great news

But sadly - in the whingy whiney non-thinking climate that is modern day Britain - people prefer to focus on the reduction of the 50% top rate, a tax which raised no money at all - indeed could be argued to have cost the country money as high tax payers like me left the UK shortly after its introduction - and was a pathetic populist political gesture by Darling, Brown and his mob.

[nong38]

If everyone lives to pensionable age, then one day everyone will reach the pensioner status eventually. After the current events have unfurled and a few years further down the road there will no doubt we new measures to consider how they affect us.

Pensioners dont like the proposed new measures and I can understand that,but, looks like I will have to get on with it, unless the home pensioners rise up.

The higher rate of tax allowances for working people of course is good news and I fully support it, long may those sort of increases be seen in future budgets!

[GuestHouse]

.... people prefer to focus on the reduction of the 50% top rate, a tax which raised no money at all - indeed could be argued to have cost the country money as high tax payers like me left the UK shortly after its introduction....

It seems then that the 50% tax did benefit the country afterall.

If only to encourage you to depart and take your hubris with you.

[cardholder]

.... people prefer to focus on the reduction of the 50% top rate, a tax which raised no money at all - indeed could be argued to have cost the country money as high tax payers like me left the UK shortly after its introduction....

It seems then that the 50% tax did benefit the country afterall.

If only to encourage you to depart and take your hubris with you.

"hubris" has now become my word of the day.

I will seek to introduce it into every conversation if at all possible.