Described as a mini-budget, or a fiscal event, there was enough affecting your finances in this statement to fill any full-scale Budget.
In the Spring, Rishi Sunak, when chancellor, pledged to reduce the basic rate of income tax by 1p in the pound before the end of the Parliament in 2024. Mr Kwarteng instead concentrated on a plan to cut benefits for those who do not adequately search for work.He said that would mean 120,000 more people on Universal Credit "take active steps to seek more and better-paid work, or face having their benefits reduced".How will the stamp duty change affect home buying?
Homebuyers in London and the South East of England pay 65% of all stamp duty as prices are higher and the tax is particularly focused on homes of more than £500,000, according to research by Zoopla. Three-quarters of stamp duty came from homes priced at more than £500,000.loomed large in this mini-budget.The Treasury said the change would save nearly 28 million people an average of £330 per year.
For example, somebody earning £20,000 will save about £93 a year, and somebody earning £100,000 will save £1,093, compared to now.
It's disgusting, those who earn more don't live here or say they don't, look how many tory MPs have off shore accounts for tax reasons or refer their income to family accounts 🙄 8
Pork Markets cabinet already showing how much they think poor people should just die off. That was the key announcement BBC.
We're now seeing the immediate consequences of putting a cokehead in charge of the economy.
Trickle Down Economics Trickle Down Economic Trickle Down Economi Trickle Down Econom Trickle Down Econo Trickle Down Econ Trickle Down Eco Trickle Down Ec Trickle Down E Trickle Down Trickle Dow Trickle Do Trickle D Trickle Trickl Trick
It means great times ahead!!! Assuming you are a billionaire tory donor. If not, you are completely screwed.
Rich Gifted Poor Shafted Tory 101
It you see local Tory MP out and about, tell them exactly what you think of them and don’t hold back. Make the streets ok the U.K. a place that is as hostile to them as their actions are to the UK public and society. Let them know EnoughlsEnough Conservatives minibudget2022
I'll sum it up for you. Rich get richer.
You’d best play GBNEWS Liam Halligan & Alastair Stewart
It was a mini budget in the sense that Russia in Ukraine is a ‘special military operation’. Seems to be going as well too….
Key announcements: £ is tanking along with our economy. Interest rates likely to be way over 5% by Easter. Don’t go on holiday to USA or EU anytime soon. Skip purchase of latest iphone et al
The big takeaway is that those on £150,000 a-year are £10,000 better off, which the rest of us have to pay for.
The pound nose dives and it is now clear that only those earning over £150,000 per annum will benefit. This “government” are out of control.
Thank you.
So sad to lose the Queen and the pound in the same month.
Increase borrowing and give to the rich, got it 👍🏻
BBCPolitics It was far from 'mini'.
Has he come down from the queen's funeral yet? He must be high still if he think this will please people,
Ponzi, tory garbage. indyref2
If BBC took time & went back over my tweets y would find my suggestions for benefits, unpaid carers, soc/housing, NHS savings & funding, that would have stopped us going into recession, created 14.7m tax paying jobs, increasing GDP by 15% & eradicating homelessness is less risky
Up the rich and F*** the poor. Pretty much how it always is
Tony Barber’s ‘Dash for growth’ all over again. How did that work out?
Sweet FA ! Maybe tenner a week, oh no of course as energy gone up, food gone up, mortgage gone up, credit cards gone up, no doubt council tax will go up ! Thank you Conservatives Tories crippled this country ! Except donors,rich,Russia donations! ToryCostOfGreedCrisis
It’s smoke and mirrors, a person on average earnings will gain about £150 from the income tax cut, but if the income tax threshold was raised by inflation the benefit would be £260. Effectively the poorer are worse off
It means I'll still get £69.70 a week carers allowance and still have to pay higher bills
Sweet fa
Outright circus
Rich get richer
Tax cut for the RICH , BBC laughing all the way to the Bank!
If you're a banker on £150,000 per year and due a big bonus soon, then the budget is great. Everyone else is fucked though.
The worse budget ever. It only benefits the rich. Truly awful.
Lovely. The opaquely funded IEA
What it means? If you are a billionaire banker, congrats. Everyone else - you are screwed
It's Reaganomics, helping the rich in the hope that they'll 'trickle it down' to the rest of us. They just hoarded the extra wealth then and they'll do so again now. A good example of this failed economic theory is the Premier League, enriching them was meant to help all 72 clubs
What they should have done is uplift the threshold at which income is taxed by 10%, that would benefit more people than a 1p tax cut from April.
Nobody thinks about the billionaires millionaires premiership footballers some of them have a social conscience, how are they going to feel now having to receive all this extra money to help the economy ? 🤔☹️🙏✌️🌹
I'll buy some bottles of Crystal Champagne and a new Ferrari now the Tories are cutting my income tax rate to 40% on my £1million earnings, thank you Kwasi-Modo MiniBudget
Means UK meltdown. Faster than ever
Economic armageddon
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