Summer Budget 2015

HRF1T2007

I would add if a family in social housing started of needing the house and as social housing is there to help over time people get jobs etc and slowly better themselves and say earn a figure £32000 jointly

They pay the rent never claim benefits paid into the system and the general opinion is right out you go into the world again
They would struggle again, I have no issue with families earning money and saving to be able to get a mortgage etc but as already paying rent it is harder to do in all sectors
Then they will also now be hit with a market value rent,all this will do is not empty houses it will keep people in them and either make it harder to better themselves or will force people to buy the house as the mortgage will be cheaper than the rent which is the whole plan of this I think.

It could also drive wages down as if somebody was £2000 over the cut they could request a wage cut and save money
Again none of this helps people who want to improve, there is a bad vibe that very small % makes everybody in social housing a sponger and work shy
You won't see TV programmes on people working and trying that are the majority of social housing tenants that care and improve their surroundings themselves

Sve

It is put to one side, like when you build a new house, you always have 10-20% extra for those unforeseen circumstances.

domtheone

So who'll be listening in then

No headphones on the PC so i'll make to with the BBC update feed.

Personal allowance is set to rise substantially slower over the next 2 years than it has done of late.

Would be nice to see GO change this and push this on rapidly towards the 12K mark and take any min wage earners out of income tax range.

Some monster changes/hints at future changes on NI would be welcome too.

tapzilla2k

My initial reaction -
Osborne's budget speech is akin to a greatest hits of his budgets from 2010-15. But with new spin and harsher measures.

domtheone

Harsh?

Deficit reduction kicked down the road again.

New car duty rates.  Will see what the detail is there.  Crap on the motorist again i'm sure.

Clearly, motorists are switching to low emission cars en mass and the treasury is losing income hand over fist so he has to plug that gap given that spending is still astronomical.

Good moves on welfare though, half measures.

Something negative re BTL investors?  Clearly a half measure again.  BTL needs stamping down on.  Way too much of it, imo.  Just fuels the rocket even more.

domtheone

So he has changed this.

Not as rapid as i would have liked but every little helps.

Cliff

Have to say, Osborne has to be congratulated on this budget.
And the National Living Wage--  
Well pulling that one out the hat was a surprise. Just put the icing on the cake.

domtheone

Big rise in the minimum wage.

That means those on said wage (full time) will still be paying tax for years to come.

Pity the personal allowance cannot be increased a lot more but that may happen when spending is under control.

The distinction between going out and getting a minimum wage job or sitting at home doing nothing, is moving in the right direction.

Overall, most things progressing to plan.

EarthRod

I am reluctant to say it, but I agree - very pleasantly surprised at how well balanced the budget is. Here's a BBC article on the summer budget:

Budget 2015: Osborne commits to national living wage - BBC News

"Chancellor George Osborne has vowed to introduce a 'national living wage' of £9 an hour by 2020 in the first Tory budget since 1996.

The chancellor scrapped student grants, froze benefits and cut billions from tax credits and other welfare payments.

But he said he would spread the £12bn in welfare cuts promised in the Conservative election manifesto over three instead of two years.

He also cut housing benefit for most people aged under 21."

I'm pleased about this, was expecting a fierce and hard cutting budget.

tapzilla2k

It's just an increase in the minimum wage, the actual Living Wage is around £7.85. Osborne has rebranded the minimum wage. Tough luck if you are under 25 on the wage front.

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Once again the sick, mentally ill and disabled have been hammered. Not that a lot of you will care about that one though.

Overall it's a masterstroke budget from Osborne in purely political terms. He reversed his tactics from the election campaign and set new traps for Labour.