Anyone else actually looking forward to the budget thingy tomorrow?

[Lucy_lu_84]

PP people on 40-50k get their tax credits reduced and those on 50+ get theirs taken away. People under 40k get theirs increased. its like taking from the 'rich' and giving to the 'poor'.

Yeah if you count £50,000 rich

well it certainly ain't poverty

That your opinion but certainly not mine.

I cannot imagine that with earnings of over £50,000 you are entitled to many benefits at all. I know when I looked into it with my OH's wage (which is no-where near that) we were only entitled to £545 a year.

If you take in to account the new tax bands, you will be £1000 better off (as the first £7400 will be tax free as opposed to the previous£6400), which I would imagine will cover any loss of benefits. Of course I could be wrong!

i would say anyone earning between £40k and £50k will be no worse off becasue they couldn't have got many benefits but will get the £1000 extra in tax relief.

OOh i was forgetting the tax bit... works out nicely for my with my tiny wage

 

[Blah11]

i dont understand the tax thing. Can someone explain?

 

[special_kala]

if you earn less then 7400 your not taxed its used to be 6400 so effectivly your getting a £1000 tax free

 

[special_kala]

https://news.bbc.co.uk/1/hi/business/10335476.stm someone just posted this in baby club its a calculater

 

[indy and lara]

if you earn less then 7400 your not taxed its used to be 6400 so effectivly your getting a £1000 tax free

Remember that you won't be getting that whole £1000. You are just getting an extra £1000 you don't have to pay tax on now. So it is about 20% of £1000 so about £200 a year that you will get.

 

[Blah11]

£130 better off.. big whoop

 

[special_kala]

£130 better off.. big whoop

surely thats better then worse though

 

[Lucy_lu_84]

https://news.bbc.co.uk/1/hi/business/10335476.stm someone just posted this in baby club its a calculater

Thank you £548 better off! Not gonna complain about that

 

[special_kala]

if you earn less then 7400 your not taxed its used to be 6400 so effectivly your getting a £1000 tax free

Remember that you won't be getting that whole £1000. You are just getting an extra £1000 you don't have to pay tax on now. So it is about 20% of £1000 so about £200 a year that you will get.

thats what i meant but couldnt word it properly

 

[bluebaby]

£140 worse off. I'll take that and run

 

[Blah11]

Yeah its better than nothing but no one is gonna notice £130 a year thats only £10 a month!

 

[indy and lara]

https://news.bbc.co.uk/1/hi/business/10335476.stm someone just posted this in baby club its a calculater

Well that made cheery reading...not £600 a year worse off. Grand.

 

[Blah11]

£600

 

[bluebaby]

£600 is alot - how come????

 

[special_kala]

Yeah its better than nothing but no one is gonna notice £130 a year thats only £10 a month!

its still £10 a month for nothing though right? your pretty lucky your better off as it was all about cuts

 

[polo_princess]

£444.50 better off here, better than what im getting now so i cant complain i guess, not 1p of that is in tax credits though, that part irks me, i pay a lot for childcare and dont get any help at all

 

[indy and lara]

£600

Aye, that is just great. Don't care what anyone says, you notice that! Especially as I don't work. If I had still been working we would have been £101 worse off. Big difference.

 

[strawberry19]

il be 8.91 better off

 

[leighbaby]

poo stix, we are going to be a few hundred worse off too. f*** it though...what can you do?!

 

[Ju_bubbs]

£450 better off here, can't complain with that tbh!

EDIT: Would have been £717.95 better off if OH was still here with his wages!