Budget 2013

[SimonMac]

I think I am gonna be slightly better off, problem is that I won't know it until at least next year and by then the whole game will probably change again!

[GB9]

Employers yes - not sure it will apply to single person Ltd Co's BBC News - Budget 2013: National Insurance cut 'to boost jobs'

Ltd company PSCs are employers.

[Nixon Williams]

Employers yes - not sure it will apply to single person Ltd Co's BBC News - Budget 2013: National Insurance cut 'to boost jobs'

Lisa, there is no legal difference between an ordinary limited company and a 'one-man' limited company. So unless HMRC specifically exempt single person companies, which I doubt, I cannot see anything that would prevent this discount being available to all companies.

"1.19 National Insurance: £2,000 employment allowance – The Government will introduce an allowance of £2,000 per year for all businesses and charities to be offset against their employer Class 1 secondary NICs bill from April 2014. The allowance will be claimed as part of the normal payroll process through RTI.

The Government will engage with stakeholders on the implementation of the measure after Budget 2013 and is seeking to introduce legislation later in the year."

[DodgyAgent]

Lisa, there is no legal difference between an ordinary limited company and a 'one-man' limited company. So unless HMRC specifically exempt single person companies, which I doubt, I cannot see anything that would prevent this discount being available to all companies.

"1.19 National Insurance: £2,000 employment allowance – The Government will introduce an allowance of £2,000 per year for all businesses and charities to be offset against their employer Class 1 secondary NICs bill from April 2014. The allowance will be claimed as part of the normal payroll process through RTI.

The Government will engage with stakeholders on the implementation of the measure after Budget 2013 and is seeking to introduce legislation later in the year."

I can find you some employees if you like

[TheFaQQer]

The economy is in a mess and will be for sometime despite what any chancellor can do. it is almost entirely the fault of the last labour government and will continue to be so for some time to come. Although Osborne lacks imagination on how to build the economy one thing for sure is that thanks to the last labour government we cannot borrow even more.

We are borrowing more.

It's just that we are borrowing more to pay for Osborne's ineptitude. Borrowing (at record low interest rates) to fund infrastructure projects which create jobs which stimulates the economy isn't a bad thing.

[SimonMac]

The economy is in a mess and will be for sometime despite what any chancellor can do. it is almost entirely the fault of the last labour government and will continue to be so for some time to come. Although Osborne lacks imagination on how to build the economy one thing for sure is that thanks to the last labour government we cannot borrow even more.

What is really needed here is a Thatcherite government to blow away the huge wastage in the public sector and stimulate business with tax reductions and the removal of bureaucracy.

Your liberal friends with their "entitlement" to live off the wealth creators can P**s off into the fields and pick fruit.

The day's of the Tories blaming the past government for the legacy is bollocks, they have had plenty of time to start to reverse but the simple fact is their policies are not working

[DodgyAgent]

The day's of the Tories blaming the past government for the legacy is bollocks, they have had plenty of time to start to reverse but the simple fact is their policies are not working

Absolute rubbish. I do not know what people expect. How on earth could Osborne re vitalise the economy in the circumstances that were left? The damage done to economies has been huge. Usually in a downturn money saved is then invested in infrastructure building. Labour left the coffers completely empty. Furthermore the drastic cuts in public spending that are really needed by the economy would never have been passed by the liberals.

Our indulgence in liberal left wing political parties has cost us dear this time and unlike in the Thatcher era there are no quick fix solutions.

[d000hg]

The time it takes to properly change things, even the previous Tory government could be partly blamed for what the current one are addressing

[vetran]

Labour remortgaged > 3 times GDP


Debt - external - Country Comparison

9.9 Trillion

GDP (purchasing power parity) - Country Comparison

2.3 Trillion


Sold the Gold & bought all new infrastructure on PFI(credit card & HP style terms)

Hired loads more civil servants

http://www.ons.gov.uk/ons/taxonomy/s...tion=ASCENDING

Moved a good portion of your work to suppliers that are much cheaper than you and the clients know this.

put the old workers on generous benefits.

then the whole world went into recession.

3 years to fix that would be impressive.

Just slowing the rise is good.

List of recessions in the United Kingdom - Wikipedia, the free encyclopedia

[darmstadt]

Who built up this enormous deficit?

Who did indeed:

1997 - 2010 Labour Government
2010 - ? Conervative Governmemt



By my reckoning looking at that graph, Labour were seemingly consistent until the end of their term and then it just seems to have shot up. But as DA points out, and he is correct here (damn that hurt) but:

• Economic expansion which improves tax revenues and reduces spending on benefits like Job Seekers Allowance. However, the economic slowdown which has occurred since 2010 risks pushing the UK bank into a triple dip recession and therefore further squeeze on tax revenues.
• Improved performance of banks increases prospect of regaining financial sector intervention
• Government Spending cuts and tax rises (e.g. VAT) which improve public finances. However, the big issue is the extent to which these spending cuts could reduce economic growth and therefore hamper attempts to improve tax revenues