Anyone else actually looking forward to the budget thingy tomorrow?

[Midnight_Fairy]

I wish they did a budget guide for dummies.. i don't get any of it

Snap

double snap lol can anyone simplify?? lol

 

[cherryglitter]

https://www.guardian.co.uk/uk/2010/jun/22/budget-2010-key-points

 

[Hayley90]

i think CTCs will go up as normal (whatever the normal increase is?)

and i followed the guardian update & the bbc update - combined they were v.useful

 

[LankyDoodle]

Basically:

Child Tax Credits:
The child element is being increased to £150 above inflation (if you can get the child element - we can't). The new baby element (the part you get for the first year of baby's life) is being scrapped from April 2011.

Tax Credits:
Being reduced for people on between 40 and 50k a year joint income. Being stopped completely for those on over 50k.

Child benefit:
Frozen at current rate for the next 3 years.

Sure Start Grant:
You can only get it for your first child (and still only if you qualify).

HIP grant:
Scrapped.

Income Tax:
Personal Allowance increased from 6475 to 7475 a year, so leaving people a few pounds a month better off.

VAT:
Increased to 20% from January but food and chn's clothes remain VAT-free.

Student Loans:
Being sold off.

Council Tax:
The govt will help councils to freeze CT for 1 year from April, but only if they show they can make decent cuts in spending.

Public Sector:
Public Sector workers earning 21k a year or more, will have a pay freeze for 2 years.

State Pensions:
They will go back to being linked to income, so those who earn the most will not get one.

 

[Midnight_Fairy]

https://www.guardian.co.uk/uk/2010/jun/22/budget-2010-key-points

Thanks, it sounds pretty good?

what about funding in schools for disabled children etc or was that not mentioned?

 

[Ju_bubbs]

What is the child element oc TC's? Thats been confusing me!

 

[cherryglitter]

https://www.guardian.co.uk/uk/2010/jun/22/budget-2010-key-points

Thanks, it sounds pretty good?

what about funding in schools for disabled children etc or was that not mentioned?

Wasn't mentioned hun. xx

 

[HannahGraceee]

Thank you for explaining lankydoodle BUT what is child element? x

 

[Midnight_Fairy]

If it wasn't mentioned does that mean it is the same for now? lol sorry x

I am glad about the HIP and sure start though for additional babys x

 

[indy and lara]

There are essentials that your LO needs but a lot of what we buy are extras that in reality we don't need. How many of us will be honest enough to say that their LO has outfits in their wardrobes which have hardly or never been worn before they didn't fit anymore? Do you really need to spend £800 on a pram? You may WANT to but that is not the same as NEEDING to.

We've spent £800+ on a pram and lots of other ridiculous things, but only because we can afford to do it - if you have the money to do it, and it is your money there's not an issue whatsoever.

However, if you are using someone else's money, i think you should obviously be spending the minimum and making the money stretch etc x

You want to know what I honestly think, even if it is your own money you should be questioning whether you need to spend that money. The things we are spending this money on will be used for such a very small period of time that it has never seemed worth it to me. I am also not convinced you necessarily get better quality the more you spend. We have a Mothercare travel system that I bought when I was pg with my son. After he died we decided to keep it to hopefully use in the future. However Em hated the car seat and we had to buy a Maxicosi one. It didn't fit on the travel system so my pal gave us a loan of her Bugaboo and in comparison to my 3 wheeler it is dead flimsy and we were so glad to not have spent that kind of money on a pram.

We are in a strong postion financially but I could never justify spending that kind of money on Em just now. Her room is gorgeous and she has lots and lots of pretty clothes but I worry about setting a precedent that everything needs to be top of the range or that we need every toy or gadget. Where does it stop?

Aww shame you find it flimsy, so many people recommended it to us - i can't complain one bit

If it's your money, you are entitled to do whatever you wish with it, we can justify it, and we are so lucky to be able to buy whatever we like - i don't mind spending £800+ on a pram seen as it is 0-4 years and can be used for our next baby
We've also got plenty of second hand clothes, groegg from ebay secondhand, carboot sale clothes, second hand bouncer, i love a bargain too

However, if you are using someone else's money i definately don't think you can be frivolous with it.

Be seriously careful when going up and down pavements...it just doesn't always make it. Our 3 wheeler does things like that easily. Also, it hasn't been great when we have been walks etc off road.

Bugaboo's are very good. Not a bad thing to say about them and always managed to get on a pavement with one x

The only thing i have to complain about is the pram envy haha xx

Late to respond as I have been away been away pushing my daughter in her non Bugaboo pram, apparently looking jealously at other people. Not sure if the envy comment is aimed at me, but I was making a fair point that we did not find it sturdy or great off road. Also hated having the take off the shopping basket in order to put it in the car. Better not comment though eh or I guess I am being envious.....not sure what of as the Bugaboo is lying in the garage unused

 

[cherryglitter]

If it wasn't mentioned does that mean it is the same for now? lol sorry x

I am glad about the HIP and sure start though for additional babys x

I should imagine it means it's the same for now, yes hun
Don't worrrry.

Yeah im really glad with the HIP going and the SSG for first babies only!!!! xx

 

[Midnight_Fairy]

I was just concerned as only just manage to get help for my son lol dont want it gone without warning!

All in all it sounds like a very good budget. Pleasantly surprised tbh x

 

[LankyDoodle]

Thank you for explaining lankydoodle BUT what is child element? x

Basically, someone like me can get the basic family element and the new baby element (each of which are 545 a year, 10.50 a week). After a year you lose the new baby element and just left with the family element. If you are on a lower income you can also get child element on a sliding scale depending on your income, but it is upto £2300 a year at the moment (£45 a week). If your child is over 1 and you are getting £55ish a week in CTCs then you get the full child element as well as your family element. Then you can get upto another £2715 a year if you have a disabled child and another up to £1095 a year for a severely disabled child.

All tax credits are made up of different elements.

 

[Lillipop]

The BBC says that all these cuts (sorry figures) are in regards to income.
Department cuts won't be decided until the Autumn!

I supose that means We won't know where cuts in councils spending, education ect, ect won't be known until then

I suck at this political malarky
x

 

[LankyDoodle]

Sorry, just to add:
What he is saying is, the tax credits follow inflation, but next year the child element of the child tax credits will rise £150 more than inflation (whatever that is). So if you get the full amount of child tax credits, your annual entitlement will increase by £150 more than inflation.

 

[cherryglitter]

Im off to do some cleaning! As you do when you're pregnant, it's been good ladies and im glad there's been no arguments ! xxx

 

[oOKayOo]

Compeltly confused , can someone please tell me whats going on with the tax credits etc. Basically anything child related xxx

 

[winegums]

Compeltly confused , can someone please tell me whats going on with the tax credits etc. Basically anything child related xxx

v

Basically:

Child Tax Credits:
The child element is being increased to £150 above inflation (if you can get the child element - we can't). The new baby element (the part you get for the first year of baby's life) is being scrapped from April 2011.

Tax Credits:
Being reduced for people on between 40 and 50k a year joint income. Being stopped completely for those on over 50k.

Child benefit:
Frozen at current rate for the next 3 years.

Sure Start Grant:
You can only get it for your first child (and still only if you qualify).

HIP grant:
Scrapped.

Income Tax:
Personal Allowance increased from 6475 to 7475 a year, so leaving people a few pounds a month better off.

VAT:
Increased to 20% from January but food and chn's clothes remain VAT-free.

Student Loans:
Being sold off.

Council Tax:
The govt will help councils to freeze CT for 1 year from April, but only if they show they can make decent cuts in spending.

Public Sector:
Public Sector workers earning 21k a year or more, will have a pay freeze for 2 years.

State Pensions:
They will go back to being linked to income, so those who earn the most will not get one.

 

[oOKayOo]

Thank you very much winegums.

From what i see i dont think we we will be effected

Glad HIPP grant is gone and the Surestart for more then one baby. Too many have babies as they know the state will give them that money to pay for things.

Pretty resonable budget

 

[coccyx]

Seems we were all getting our knickers in a twist for no reason. Thought it would be harsher