Emergency Budget 12:30PM Weds 3/3/21

[arista]

This Wednesday
Rishi Sunak is giving a Budget within Lockdown
so many are calling it an Emergency Budget.

Helping buying Homes
is a big move with Government
will back the youngers debt.
Well Risky.


[Rishi Sunak: UK economy to face
'enormous strains' following lockdown
Sunak is expected to include a host of actions to kickstart
the economy in Wednesday's Budget.]
https://news.sky.com/story/rishi-sunak-uk-economy-to-face-enormous-strains-following-lockdown-12230212



Budget 2021: Mortgage guarantee to help buyers with 5% deposit
https://www.bbc.co.uk/news/uk-56218952

[The chancellor is also expected to announce a £126m
scheme for traineeships in England.]

[Government borrowing has reached £271bn for the financial year.]

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[Oliver_W]

Sounds interesting, I might snap up a flat while the goings good, put it up for rent and sell it later.

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Shadow Chancellor Anneliese Dodds
has gone round all the media today
making up
a rumour as fact. She claims Rishi Sunak
said " he told Conservative MP's he would raise taxes now
so he cut them before than the election"

Rishi Sunak told Marr BBC1HD
on his long interview
That is Not True.

https://pbs.twimg.com/media/EvTpEtgXIAEUacF?format=jpg&name=small

Dodds must stop making up lies.

[Toy Soldier]

Sounds interesting, I might snap up a flat while the goings good, put it up for rent and sell it later.A lot of these guaranteed/low deposit mortgages are for live-in owners only and have specific conditions that say you can't buy to rent.

I considered it last time they were doing 5% deposits because at the time there were one-bedroom flats in a town near here going for £20k and renting for £450/month. I had dreams of being a slim landlord :flutter:. But alas, no, you need a specific type of mortgage to rent out.

Officially anyway. You could always rent to someone dodgy if they're willing to pay cash in hand [emoji23]

[Vicky.]

:laugh: Its a good thing they are protected in that way really though. God, dealing with landlords is stressful enough nevermind some guy down the road owning my house off a bloody tiny payment..

[arista]

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Pubs all over the UK are Boarded Up
for now.

[Toy Soldier]

:laugh: Its a good thing they are protected in that way really though. God, dealing with landlords is stressful enough nevermind some guy down the road owning my house off a bloody tiny payment..

To be fair, the two best landlords I've had were both "small" landlords with one property. One was a guy who had basically done what is being described here, but with a view to actually living in the place eventually - he had bought but was still living at home, renting it out to get it paid off fast, with his plan being to then live there himself. It meant that if anything broke or needed replaced, it was done to a really high standard. Generally landlords who are simply renting out multiple properties for profit will go with the cheapest option/fix.

e.g. I've never actually met my current landlord. We've lived here for 7 years! All we see of them is whatever dodgy cowboy they send round to deal with any issues. Though to be fair the plus side of that is getting to treat it not like a rental at all - within the first year they gave us a carte blanche "Whatevz" in terms of redecorating and even major changes (we had an old fireplace ripped out, lol) because I think they frankly don't care much about the property and are just using it as an easy extra income. I suspect they'll sell when we leave.

[Vicky.]

To be fair, the two best landlords I've had were both "small" landlords with one property. One was a guy who had basically done what is being described here, but with a view to actually living in the place eventually - he had bought but was still living at home, renting it out to get it paid off fast, with his plan being to then live there himself. It meant that if anything broke or needed replaced, it was done to a really high standard. Generally landlords who are simply renting out multiple properties for profit will go with the cheapest option/fix.

e.g. I've never actually met my current landlord. We've lived here for 7 years! All we see of them is whatever dodgy cowboy they send round to deal with any issues. Though to be fair the plus side of that is getting to treat it not like a rental at all - within the first year they gave us a carte blanche "Whatevz" in terms of redecorating and even major changes (we had an old fireplace ripped out, lol) because I think they frankly don't care much about the property and are just using it as an easy extra income. I suspect they'll sell when we leave.


Haha well tbf I dont think I have ever actually had a 'small' landlord. I only 'know' how much **** about it would be because when my grandma died my mam was left her house and considered renting it out for a while, but she did not have the capital to basically..sort out any potential issues so ended up selling instead.

Luckily have only ever had council or housing association besides that (our current HA are dicks about fixing some stuff like..but I think thats 'cos covid' rather than them being crap)

Just the thought of someone who..if like the rest of most of the population has no/very low bloody savings..having control of my house fills me with dread :laugh:

[arista]

[The chancellor is expected
to give £408m to help museums,
theatres and galleries to reopen in England
as coronavirus restrictions ease.]

https://news.sky.com/story/sunak-prepares-to-pump-cash-into-covid-recovery-as-tax-rise-debate-continues-12233223

[Vicky.]

Rishi needs to find a bigger money tree I think. These places are going to need ongoing support for a while realistically..its not good just supporting them, til they open then expecting them to deal.

I feel really bad for him tbh. Its a hard enough job to start with, nevermind being in this situation ontop!

[arista]

Rishi needs to find a bigger money tree I think. These places are going to need ongoing support for a while realistically..its not good just supporting them, til they open then expecting them to deal.

I feel really bad for him tbh. Its a hard enough job to start with, nevermind being in this situation ontop!


He has that
so long as in a few years Taxes go up.

[arista]

The Budget Tomorrow Starts at 12:30PM

ITV1HD 12:15PM
BBC2HD 11:15AM (Long Politics Live)
SkyNewsHD 11AM

LBC
Times Radio DAB

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[arista]

Long programme
11:15AM - 3PM.



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[Cherie]

Great to see the Furlough extended, such a relief to anyone on it

[arista]

Sunak is now Live.


ITV1HD
SkyNewsHD
BBC2HD
LBC
Times Radio DAB

[arista]

Furlough extended
to the end of Sept.

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[12:53 Chancellor confirms government
guarantee for 95% mortgages
Rishi Sunak says 95% mortgages will be guaranteed by
the government as part of government plans
to turn "generation rent into generation buy".
"I’m pleased to say that several of the country’s
largest lenders including Lloyds, NatWest, Santander,
Barclays and HSBC will be offering these 95% mortgages
from next month, and I know more,
including Virgin Money will follow shortly after,"
the chancellor says.]

["A policy that gives people who can’t afford a
big deposit the chance to buy their own home."]

[arista]

12:58[Chancellor says it will take decades
to pay back COVID borrowing

"The amount we’ve borrowed is only
comparable with the amount we borrowed
during the two world wars," Rishi Sunak explains.

"It is going to be the work of many governments,
over many decades, to pay it back.
"Just as it would be irresponsible to
withdraw support too soon,
it would also be irresponsible to allow
our future borrowing and debt to rise unchecked.
When crises come, we need to be able to act.
"And we need the fiscal freedom to act.
A freedom that you only have if you start
with public finances in a good place."]

[arista]

[Corporation tax will increase to 25% in 2023,
Rishi Sunak announces

"This new higher rate won’t take effect
until April 2023, well after the point
when the OBR expect the economy
to have recovered," the chancellor explains.
"And even then, because corporation tax is
only charged on profits,
any struggling businesses will, by definition, be unaffected.
"Second, I’m protecting small businesses with
profits of £50,000 or less, by creating a
Small Profits Rate, maintained at the current rate of 19%.
"This means around 70% of companies – 1.4 million
businesses - will be completely unaffected."]

[arista]

[For the next two years, when companies invest,
they can reduce their tax bill by
130% in a super deduction, Rishi Sunak announces
"Under the existing rules, a construction firm buying £10m of
new equipment could reduce their taxable income,
in the year they invest, by £2.6m.
With the Super Deduction,
they can now reduce it by £13 million.
We’ve never tried this before in our country,"
the chancellor says.

"The OBR have said it will boost business
investment by 10%; around £20bn higher per year.
"It makes our tax regime for business investment
truly world-leading, lifting us from 30th in
the OECD, to 1st. And, worth £25bn during
the two-years it is in place.

"This will be the biggest business tax
cut in modern British history."]

[arista]

Parmy :

[Planned increases in duties for spirits,
wine, cider and beer will be cancelled,
with all alcohol duties frozen for a second
year in a row, Rishi Sunak tells MPs

Fuel duty will also be frozen,
the chancellor announces.]

[arista]

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Early Today.

[arista]

Rishi Sunak announces 'Help To Grow'

["We're going to help small businesses develop
digital skills by giving them free expert
training and a 50% discount on new productivity-enhancing
software, worth up to £5,000 each," the chancellor says.]



[Rishi Sunak says there will be visa reforms aimed
at highly skilled migrants,
including an unsponsored points-based visa
for talent in science, research and tech,
with new improved visa processes for entrepreneurs
A further £1.6bn in funding will be provided
to continue rollout of coronavirus vaccines
and improve future
preparedness, Rishi Sunak confirms]



[A further £1.6bn in funding will be provided
to continue rollout of coronavirus vaccines
and improve future preparedness, Rishi Sunak confirms]

[arista]

[Rishi Sunak announces eight freeports
The chancellor says these are "special economic zones
with different rules to make it
easier and cheaper to do business".

["Our Freeports will have: Simpler planning – to allow
businesses to build; Infrastructure funding – to
improve transport links; Cheaper customs – with
favourable tariffs, VAT or duties; And lower taxes – with tax
breaks to encourage construction,
private investment and job creation," Mr Sunak says.

The eight freeports are: East Midlands Airport,
Felixstowe and Harwich, Humber,
Liverpool City Region,
Plymouth, Solent,
Thames and Teesside.]

https://news.sky.com/story/budget-2021-live-updates-chancellor-rishi-sunak-gives-statement-after-pmqs-interrogation-for-boris-johnson-12234436

[arista]

The Labour leader
just said they BLOCKED the Circuit Breaker?

"The"

That was a Labour Choice,
Keirs Circuit Breaker idea
Never a Government plan..............

[arista]

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Early today

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5PM Sunak
Live 10 Downing St.

[Vicky.]

I swear am starting to get a crush on bloody Rishi.. :blush2:

[arista]

I swear am starting to get a crush on bloody Rishi.. :blush2:


Yes many are the same.

[arista]

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[arista]

Rishi is Live On his Own.



His 3 Part Plan,




Not on BBC1HD

SkyNewsHD
LBC
Radio 5

BBCnewsHD with Sign Language fella

[AnnieK]

Great to see the Furlough extended, such a relief to anyone on it

:sad:

It's a double edged sword for me. On one hand its good its been extended but I would rather it hadn't. It gives my work another 6 months to procrastinate about bringing us back. I would rather it had ended at the end of April and then they would have had to decide if they were going to bring us back etc.

[arista]

[17:13 The chancellor is asked (BBC) what he would say to
the million or so people who will
end up in the higher tax band?


Mr Sunak stresses that nobody's current
take home pay will be affected as a result
of the change in policy.
And he says that the threshold freeze means
those on the lowest incomes contribute much
less than those on higher incomes.
Mr Sunak says that the government
continues to believe in supporting business - and
says that the UK's corporation tax rate will
remain the lowest in the G7.]

[arista]

[17:19
Are you worried about being the chancellor
with the highest tax burden?

SkyNewsHD Ed Conway shows the chancellor
this chart that reveals tax as a percentage
of GDP will be at the highest level since the 1960s.
Mr Sunak says the chart doesn't show whether
other chancellors have had pandemics to deal with.

"I think it's reasonable to expect that what we
have to do in response to all of those things
is going to be a bit different to what's
happened in the past," he explains.

He adds that these taxes are being used
to fund strong public services - and asserts
that he believes he is making the right
decisions for the UK and economy.]

[joeysteele]

Overall more I like than don't.
I think he's done a pretty good assessment of the situation.
To be fair.

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[Vicky.]

Loads I know are whinging about the future tax rises. How on earth did they expect us to pay for this all really?! The past year has cost an astronomical amount, and couldn't be helped realistically either. People shocked that taxes will have to rise, are being ridiculous.

[arista]

Loads I know are whinging about the future tax rises. How on earth did they expect us to pay for this all really?! The past year has cost an astronomical amount, and couldn't be helped realistically either. People shocked that taxes will have to rise, are being ridiculous.


Tonight 8:30PM ITV1HD
Martin Lewis has recorded a 15mins interview Rishi
while he is at that Stockton.... Free Port
for his 28mins programme.

He says he asked questions no one else asked.

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