So - Good Budget or Bad Budget?

[d000hg]

Should have left the 50% alone.

I think either he should have left it, or got rid of it... having a 45% rate when the next level is 40% seems a bit pointless. Got to love Labour, who brought in the 50% rate as a temporary thing, up in arms at the idea it could be removed to "help the rich".

However, what on earth is the point saying he will do this next April, when we have another budget before that in which he can change his mind?

[AtW]

However, what on earth is the point saying he will do this next April, when we have another budget before that in which he can change his mind?

Next budget he will see even less revenues from 50% band, perhaps so badly that 45% won't make sense -

Budget 2012: how top-rate taxpayers can defer paying 50pc tax - Telegraph

Saying 50% is wrong but keeping it for another year is totally stupid - sounds like one of those deals in coalition when minor partners wants to get some changes just to show they are important.

40% is very high income tax already, especially with NICs on top of that - this has got direct effect on cost of labour and quality of life.

[d000hg]

But as he pointed out, we have very low company tax. So it kind of balances out.

[eek]

Saying 50% is wrong but keeping it for another year is totally stupid - sounds like one of those deals in coalition when minor partners wants to get some changes just to show they are important.

There is a reason why everything is now announced in one year to follow the following year. It never used to that way but since computers have arrived it takes a year for the changes to be programmed.

[oscarose]

Another budget, same old spin and bulltulip - regardless of who the current crop of s are.

[vetran]

You smile sweetly, say sorry this tax was put in by my predecessors and we need the money to pay off the debts built up by the bankers (bet most of the £200K+ people on PAYE are bankers) it means paying an effective tax rate of 43% on £200k, most people have put it off etc. its staying but if our anti avoidance measures work (go ahead try fiddling it into a dodgy offshore we can get penalties as well) then we can consider dropping it next year.

These people have fairly elastic wages otherwise they would be on £60k.

[d000hg]

Another budget, same old spin and bulltulip - regardless of who the current crop of s are.

I very much doubt we'd have seen Labour drop the tax from 50->45%.

[Peoplesoft bloke]

Should have left the 50% alone.
Offshoring of homes & mansion tax sensible level. CGT good.
evoidance actions maybe. Bet they get beaten.
Who didn't expect Fags,booze (yes it was pre announced) & food to get more expensive?

But why the Grannies? Makes no sense I'm all for simplifying tax (lets get rid of the winter fuel allowance and roll it in have £400 rise, you can tax that as well) but taking money from the aged is stupid.

WVMS

[Robinho]

Should have put the top rate down to 40%. Oh the whole i thought it was fairly good though.

[Sysman]

I'd line the ratings agencies up against the wall. They're like the Gartner Group, a waste of oxygen.

That'll be the lot who managed to include storage costs twice for the platform they didn't like in a price comparison.

Not impressed.