ThisisBigBrother.com - UK TV Forums - The Budget 22/11/17: Stamp Duty Stopped

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The Budget 22/11/17: Stamp Duty Stopped

He said it will be for 95% of all buyers.

Many builders Said this was needed

up to 300,000
From Today

Only for first time buyers.

Quote:

Originally Posted by Livia (Post 9704202)

Only for first time buyers.

Yes True

first time buyers are the key to the housing market without them no one moves

Corbyn is shouting away now.

The Next General Election
is re set to 2022.

So long time to go.........................................

Quote:

Originally Posted by Cherie (Post 9704206)

first time buyers are the key to the housing market without them no one moves

Yes very true.

£300 is quite a lot for a first time buyer... although you'd get a bedsit for that in some parts of London. I suppose it's a start, but more help is needed for those getting on the housing ladder.

From ITV1HD News ends at 2PM

BBC2HD ends at 3:30PM.

Positive from 3 of 4 panel
Live in Fareham. just now (ITV)
Massive Giveaways ITV just said

SkyNewsHD started early.

Scotland, Wales and Northern Ireland:
£650m extra for NI.
£2bn extra for Scotland.
£1.2bn extra for Wales.

Another disproportionate rise.

Quote:

Summary of Budget 2017: Key points at-a-glance

16 minutes ago

Philip Hammond has delivered his second Budget as chancellor. Here are the key points of his speech.

Housing

Stamp duty to be abolished immediately for first-time buyers purchasing properties worth up to £300,000

In London and other expensive areas, the first £300,000 of the cost of a £500,000 purchase by first-time buyers will be exempt from stamp duty

80% of all first-time buyers will not pay stamp duty

Long-term goal to build 300,000 homes a year by the mid-2020s

£44bn in government support, including loan guarantees, to boost construction skills

100% council tax premium on empty properties

Compulsory purchase of land banked by developers for financial reasons

Review into delays in permitted developments going forward

£28m for Kensington and Chelsea council to provide counselling services and mental health support for victims of the Grenfell fire and for regeneration of surrounding area

New homelessness task force

Alcohol, tobacco, gambling and fuel

Tobacco will rise by 2% above Retail Price Index (RPI) inflation while the minimum excise duty on cigarettes introduced in March will also rise, as will duty on hand-rolled tobacco

Duty on beer, wine, spirits and most ciders will be frozen

But duty on high-strength "white ciders" to be increased via new legislation

Vehicle excise duty for diesel cars that do not meet latest standards to rise by one band in April 2018

Tax hike will not apply to van owners

Existing diesel supplement in company car tax to rise by 1%

Proceeds to fund a new £220m clean air fund

Fuel duty rise for petrol and diesel cars scheduled for April 2018 scrapped

Personal taxation

Tax-free personal allowance to rise to £11,850 in April 2018

Higher-rate tax threshold to increase to £46,350

Short-haul air passenger duty rates and long-haul economy rates to be frozen, paid for by an increase on premium-class tickets and on private jets

The state of the economy

Growth forecast for 2017 downgraded from 2% to 1.5%

GDP downgraded to 1.4%, 1.3% and 1.5% in subsequent years before rising to 1.6% in 2021-22

Productivity growth and business investment also revised down

Annual rate of CPI inflation forecast to fall from peak of 3% to 2% later this year

Another 600,000 people forecast to be in work by 2022

Brexit

£3bn to be set aside over next two years to prepare UK for every possible outcome as it leaves EU

Public borrowing/deficit/spending

Annual borrowing £49.9bn this year, £8.4bn lower than forecast in March

Borrowing forecast to fall in every subsequent year from £39.5bn in 2018-19 to £25.6bn in 2022-23

Public sector net borrowing forecast to fall from 3.8% of GDP last year to 2.4% this year, then 1.9%, 1.6%, 1.5% and 1.3% in subsequent years, reaching 1.1% in 2022-23.

Debt will peak at 86.5% of GDP this year, then fall to 86.4% next year; then 86.1%, 83.1% and 79.3% in subsequent years, reaching 79.1% in 2022-23.

Pensions, savings and welfare

£1.5bn package to "address concerns" about the delivery of universal credit

Seven-day initial waiting period for processing of claims to be scrapped

Claimants to get one month's payment within five days of applying

Repayment period for advances to increase from six to 12 months.

New universal credit claimants in receipt of housing benefit to continue to receive it for two weeks

Business

VAT threshold for small business to remain at £85,000 for two years

£500m for 5G mobile networks, fibre broadband and artificial intelligence

£540m to support the growth of electric cars, including more charging points

A further £2.3bn allocated for investment in research and development

Rises in business rates to be pegged to CPI measure of inflation, not RPI

Income tax to be applied from April 2019 on digital economy royalties relating to UK sales which are paid to a low-tax jurisdiction, raising about £200m a year

Education (England only)

£40m teacher training fund for underperforming schools in England. Worth £1,000 per teacher

8,000 new computer science teachers to be recruited at cost of £84m

Secondary schools and sixth-form colleges to get £600 for each new pupil taking maths or further maths at A-level at an expected cost of £177m

Nations/infrastructure/transport/regions/science

£320m to be invested in former Redcar steelworks site

Second devolution deal for the West Midlands

£1.7bn transport fund for city regions

£2bn for Scottish government, £1.2bn for Welsh government and £650m for Northern Ireland executive

Scottish police and fire services to get refunds on VAT from April 2018.

Health and social care

£2.8bn in extra funding for the NHS in England

£350m immediately to address pressures this winter, £1.6bn for 2018-19 and the remainder in 2019-20

£10bn capital investment fund for hospitals

http://www.bbc.co.uk/news/uk-politics-42056452

The snippet I heard in passing was the number of home owners in the 25-35 age range had dropped by 20% in the last 15 years. That's not acceptable, end of.

Quote:

Originally Posted by bitontheslide (Post 9704262)

The snippet I heard in passing was the number of home owners in the 25-35 age range had dropped by 20% in the last 15 years. That's not acceptable, end of.

Lots of giveaways
Its getting good reviews.

No money left now

Brexit is Next

Next General Election
is re set to 2022 May 5th.
Lots of Folk are not aware of that.

Quote:

Originally Posted by James (Post 9704242)

http://www.bbc.co.uk/news/uk-politics-42056452

Pretty good Budget tbh

Three things jumped out at me:

100% council tax premium on empty properties.

Compulsory purchase of land banked by developers for financial reasons.

Review into delays in permitted developments going forward.

For the man who told me on here last week that this isn't a problem, the government obviously think it is!

As for the rest. Where are the big numbers like the £350million a week for the NHS? They are getting their £350million but that has to see them through the entire winter.

No mention about how we are going to find the huge costs for Brexit. The only clue that they are expecting trouble ahead is the expected fall in growth to 1.3% in two years time. To suggest a piddling £3bn is going to see us through any crisis is baffling.

As expected, its a cautionary budget of very low numbers.

Quote:

Originally Posted by arista (Post 9704264)

Lots of giveaways
Its getting good reviews.

No money left now

Brexit is Next

Next General Election
is re set to 2022 May 5th.
Lots of Folk are not aware of that.

The queen as the head of state has the power to call an election when ever she want utter fact

:bawling: looks like hubby and I will have to split up...
Unless lovely daughter comes home and stays in the bungalow.
100% extra council tax on top of already having to pay 2.:fist:
I can see the reasoning behind it though.

If they are lifting so many out of tax as well as those currently on the higher rate how is the govt making money?

'a higher-rate payer will save £340 a year.'thinks it's odd that diesel cars are being targeted but not vans? :/

http://www.telegraph.co.uk/money/con...llowance-goes/

Quote:

Originally Posted by Kizzy (Post 9704532)

I think the reason is that vans are usually used for business as against cars for personal use.:shrug:

Quote:

Originally Posted by smudgie (Post 9704567)

I think the reason is that vans are usually used for business as against cars for personal use.:shrug:

Unless you're a taxi...
But how is a van driven for commercial use cause less pollution than a car driven for personal use?

Another glaring omission for me was social care... remember when they announced council tax hikes were said to be for the shortfall in social care budgets? Well central govt has forgotten them again what does that mean another 4% hike in April?

What was the reaction to the question of social care? Jeers what an uncaring shambles we have in govt!

http://www.independent.co.uk/news/uk...-a8069656.html

Lets face it whatever he did would not please everyone, it didn't seem a bad budget to me.

i don't think it was a bad budget, lets face it, it could have been a lot worse.

We have never had growth fall below 2% This budget was made a few tiny shifts but the real budget here was a future forecast for further cuts in growth and that's before Brexit!

The majority tend to be happy if they see something on a budget that will help them without caring or even understanding about future forecasts of our failing economy. Hammond simply gave us all a carrot which is enough to take our eye away from the white cliffs of Dover.