owre-weel Posted March 20, 2014 Report Share Posted March 20, 2014 (edited) What did you think about the budget? Do you think you'll be better off, worse off or see little difference Obviously he didn't have a lot if cash to play with, but I was expecting a lot worse. Not had much time to look at the detail, but was glad to see fuel will not rise. Need to study detail about pensions etc. but overall I suppose it seemed more positive than negative. Edited March 20, 2014 by owre-weel Quote Link to comment Share on other sites More sharing options...
paulb Posted March 20, 2014 Report Share Posted March 20, 2014 on the face of it we will be £298 better off. well we would be if the wifes wages were not capped at 1% so working that out we will be roughly £8 better off. Quote Link to comment Share on other sites More sharing options...
brian.smith Posted March 20, 2014 Report Share Posted March 20, 2014 I dont play bingo so not much change for me Quote Link to comment Share on other sites More sharing options...
MuckleJoannie Posted March 20, 2014 Report Share Posted March 20, 2014 The biggest change I saw is how you can access your pension fund when you retire From 2015, people reaching retirement age will be able to spend the money however they want, rather than having to use it to buy a guaranteed income. http://www.bbc.co.uk/news/uk-politics-26649162 Quote Link to comment Share on other sites More sharing options...
paulb Posted March 20, 2014 Report Share Posted March 20, 2014 which risks some folks wasting their hard saved pension. Quote Link to comment Share on other sites More sharing options...
crofter Posted March 20, 2014 Report Share Posted March 20, 2014 Excellent news. I never joined a pension scheme because I always thought those annuities were a bit of a con. As for paulb worrying about folks "wasting" their pension pots, I might be old fashioned but it seems better to let people have more control over their money? Even if an irresponsible minority of people do go out on a massive bender, it will be good for the wider economy. The biggest change I saw is how you can access your pension fund when you retire From 2015, people reaching retirement age will be able to spend the money however they want, rather than having to use it to buy a guaranteed income. http://www.bbc.co.uk/news/uk-politics-26649162 Quote Link to comment Share on other sites More sharing options...
paulb Posted March 20, 2014 Report Share Posted March 20, 2014 oh and it would be a very good one. Quote Link to comment Share on other sites More sharing options...
Anakena Posted March 20, 2014 Report Share Posted March 20, 2014 The comedian Al Murray commented that a penny off the price of a pint would have beengreat news..... if it was 1902. Quote Link to comment Share on other sites More sharing options...
brian.smith Posted March 20, 2014 Report Share Posted March 20, 2014 The pension thing is an utter con as you will pay your highest rate tax on any money you take therefore its just a rouse to get you money quicker Quote Link to comment Share on other sites More sharing options...
simples Posted March 20, 2014 Report Share Posted March 20, 2014 worrying to see the HMRC fascists extending their reach, they have slipped through a clause where they can now take any money owed straight from your bank account, this includes disputes or assumed money owed before the conclusion of investigations. Quote Link to comment Share on other sites More sharing options...
shetlandpeat Posted March 21, 2014 Report Share Posted March 21, 2014 I can see pension pots being used as house deposits for Grandchildren of perhaps another way to extract money from those who are very sick and need 24/7 care/housing leaving the spouse/young uns with nothing... There is however, really nothing for the saver. Interest rates are just harming pension funds, council funding and personal savings. Upping to £15k means nothing, when you take home less than that as many do. Quote Link to comment Share on other sites More sharing options...
owre-weel Posted March 21, 2014 Author Report Share Posted March 21, 2014 Interesting to see that no one so far reckons they are worse off. So I suppose you could consider this to be a reasonable budget despite the country still in recession and little goodies to give away. Quote Link to comment Share on other sites More sharing options...
paulb Posted March 21, 2014 Report Share Posted March 21, 2014 (edited) it could have been worse. however next year ours will be down by a lot thanks to there public pay deals. the 10.5 k tax allowance and the transferable bit of tax allowance does help what has been a serious drop in our income over the last 5 years. but you could argue that this is just the start of the pre election bribes. Edited March 21, 2014 by paulb Quote Link to comment Share on other sites More sharing options...
shetlandpeat Posted March 21, 2014 Report Share Posted March 21, 2014 The cuts to public services are to be hammered home over the next year, my savings are worth less than they would have been if the interest rate were not kept down to prevent home buyers from having to struggle due to the overall lower wage. Some in my work place have had overall cuts to their wage of 27%, if you add on the VAT rates and the increases in costs where goods are going up faster than wages, we are not getting any better. Also looking at the numbers of low hour employment, the situation will get worse. Quote Link to comment Share on other sites More sharing options...
ArabiaTerra Posted April 14, 2014 Report Share Posted April 14, 2014 This particular budget left me a little better off due to the rise in the personal allowance, but it doesn't make up for the rise in living costs over the last 5 years or so. And the rent rise that I've just been hit with pretty much wipes out the gain anyway. Quote Link to comment Share on other sites More sharing options...
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