The Official Budget 2021 thread

[jamesbrown]

The IFS link I posted is asking for your NET income, not GROSS.

Enter your post taxation earnings and then spot the difference if you enter that you have two children. Your income and wealth are greatly affected by how many children you have.

Ah, true, but it's equivalised household income and Labour's definition of "rich" is £70k per person. It remains true that the far right of that chart is the top decile, which is a strange definition of "rich", and it's also fairly pointless to divorce after-tax income from the cost of living when discussing "richness" (equivalised disposable income would be a better measure).

[Whorty]

Ah, true, but it's equivalised household income and Labour's definition of "rich" is £70k per person. It remains true that the far right of that chart is the top decile, which is a strange definition of "rich", and it's also fairly pointless to divorce after-tax income from the cost of living when discussing "richness" (equivalised disposable income would be a better measure).

If we look at income, I'm poor. Only work 2 days a week and this via employed since last year (I went perm to make it easier to look after Mrs W). Look at net worth though and I'm top 1%.

Knowing people who both have little net worth and average incomes, I think they would be rather annoyed if I rocked up and classed myself as poor.

Like I said previously, it's all relative; I'm affluent compared to the majority of the UK, but 'poor' compared to a minority of others.

[AtW]

The real wealth is having your CUK buddies on here


That and a few million quid in a bank.

[Whorty]

The real wealth is having your CUK buddies on here


That and a few million quid in a bank.

Someone's started on the sherry early today

I use CUK on my tax return as a deductible

[Whorty]

The beeb is now talking about Rishi extending the stamp duty holiday so looks like the Tories have been leaking again. No details though yet, so keeping fingers crossed here I (and the other 2 in my chain) are included

[jamesbrown]

If we look at income, I'm poor. Only work 2 days a week and this via employed since last year (I went perm to make it easier to look after Mrs W). Look at net worth though and I'm top 1%.

Knowing people who both have little net worth and average incomes, I think they would be rather annoyed if I rocked up and classed myself as poor.

Like I said previously, it's all relative; I'm affluent compared to the majority of the UK, but 'poor' compared to a minority of others.

Why would you class yourself as poor? Regardless of where you choose to draw the line between “rich” and “not rich”, the “not rich” are obviously not all poor. Rich is a comparative thing. Here, we’re talking about upper quantiles as the point of comparison. The lower q0.99 are not poor, rather the lower q0.01, if you want to be symmetric about it.

Sure, income and wealth are two completely separate things and the term “rich” is widely applied to each of them separately and both of them together. If you’ve owned property in London for a decade or more, you’re relatively likely to be in the top 1% by assets.

[ladymuck]

I'm poor. Plz send bitcoin

[d000hg]

Agree with this. The future for youngsters is entirely bleak. I still don't understand why couples are having so many kids ... do they not see what is coming?

Only bit I have an issue with is about the youth rebelling .... don't think they have it in them .... you are talking about the woke and post woke generation.

Protesting is what they DO. BLM, XR, etc.



Anyway, I reckon Rishi can buy one more budget of being "nice" due to Covid. He's going to 'get real' with us about the state of the economy then push it back a year to aid the recovery. Meaning the government remains popular now, and setting the stage for tax rises next year without any real complaint because everyone can see they are needed.

[Whorty]

Hi has one job to do tomorrow ... ensure the stamp duty holiday is extended so I save £15k. After that, I'm pretty relaxed on the budget

The spawn from the loins of the breeders can pay for the debt in future years.

[SueEllen]

Hi has one job to do tomorrow ... ensure the stamp duty holiday is extended so I save £15k. After that, I'm pretty relaxed on the budget

The spawn from the loins of the breeders can pay for the debt in future years.

Bit of a problem there and even if you ignore the pandemic -

The first half of 2020 marks the eighth consecutive year that birth rates fell in England and Wales – following a trend throughout Europe as births drop and the population ages.

If the current rate continues, this year will mark the lowest birth rate on record – 3.6 percent lower than in 2019, according to the UK's Office for National Statistics.

In the first part of this year, only 1.6 children were born for every woman. In 2001, the old record, that rate was 1.63 children born for every woman.

This is part of an eight-year continuous decline that started in 2012, when 1.93 babies were born per woman.

And the England and Wales are not alone. In the rest of Europe, birth rates are also declining.

In 2018 Portugal, Finland, Luxembourg, Greece, Cyprus, Ukraine, Italy, Spain and Malta were all among the countries with the 20 lowest birth rates globally, according to the World Bank.

https://newseu.cgtn.com/news/2020-12...hzq/index.html