Have I Got This Right?

[Kardashev]

Opposition to the government's mini budget seemed to start with the 45p rate being abolished, apparently worth £2bn. Now all the big ticket items have also been undone including the help with fuel bills. So now, come April we are at the mercy of the energy companies. So it seems that the rabid opposition to a largely irrelevant item has caused the less well off to be even worse off. Thank you very much opposition parties.

[royfromaus]

I'm not sure, I will wait to see what TTT has to say on the matter.

[youngmafbog]

And dont forget the Bankers Bonus that many on here ranted on about!

The problem is too many people just listen to the media soundbites and in some cases downright misleading headlines than many dont seem to read past.

Well, they got their wish and the chickens are coming home to roost now. Hope they are happy.

[youngmafbog]

Why wait for TTT Roy, your opinion doesn't need to be anything to do with him.

[ichkeria]

I think you’ll find it was “the markets” and the Bank of England who were jittery.
I actually think the revised energy policy is perfectly sensible

[drmorgans]

The government will be doing a review of fuel pricing over the next six months with a view to implementing a more targeted support.

The government (Truss / Kwarteng) announced their plans without (apparently) consulting their cabinet colleagues and without telling the markets how the tax cuts would be funded - borrowing or cuts to spending in other areas. The cost of borrowing, for us and the government inevitably rose. Hence Hunt reining back the plans.

[ichkeria]

After April the “less well off” will allegedly still receive help. What Hunt has done is cancel the open-ended giveaway

[youngmafbog]

//I think you’ll find it was “the markets” and the Bank of England who were jittery.//

Hmmm, more like the City Spivs didnt want the market to be long term growth where they will struggle to make big short term gains and thus bonuses for them.

The BoE reacted because a hole has been exposed in the way
were pensions were invested. This needs fixing now but most dont seem to understand it so just let it go.

//and without telling the markets how the tax cuts would be funded //

It is none of the markets business, but what they should have done is costed it I agree.

[youngmafbog]

//After April the “less well off” will allegedly still receive help. What Hunt has done is cancel the open-ended giveaway//

You really believe that?

Its well known that trying to target certain areas of society actually costs more than paying across the board, especially on something that should not be medium or long term. And even ignoring the cost I can assure you the Civil service could not get their act together in 6 months (and that is if they started today, which they wont)

[drmorgans]

Maybe a "windfall" tax on the profits on renewable energy supplier which have seen profits soar?

[THECORBYLOON]

YMB, "Its well known that trying to target certain areas of society actually costs more than paying across the board"

Do you have examples and costings to demonstrate that?

[ichkeria]

He’s “calmed the markets” for now by not explicitly committing billions to helping with energy bills.
That’s what he has done.
I’m not offering an opinion on whether it’s right or not. It’s sticking plaster stuff but there was a nasty wound.
The key thing is in relation to the question, it’s not the “opposition parties” who have got us here.
Sadly

[barry1010]

There has also been rumblings about making NHS prescriptions and senior citizens bus passes free to only those pensioners in receipt of means tested benefits.
Those pensioners with an income of a couple of quid a week above the limit are already hundreds of pounds a year worse off than those on pension credit.

[Hopkirk]

Maggie reduced the top rate from 60% to 40%.

How long after she got into the hot seat did she do this?
6 years!

Liz Truss may have been trying to emulate her hero, but she should have given it more thought.

[THECORBYLOON]

BARRY, "Those pensioners with an income of a couple of quid a week above the limit are already hundreds of pounds a year worse off than those on pension credit."

As with any means-tested benefit, there has to be an upper limit of income and if it's exceeded, even by a penny, there is no entitlement to that benefit.

[ToraToraTora]

Barry: "Those pensioners with an income of a couple of quid a week above the limit are already hundreds of pounds a year worse off than those on pension credit. " -Yes Barry, as usual the lazy and feckless who contribute nothing get given everything, those that work hard to provide for their own retirement get it all stripped away by the state to give to the aforementioned parasites.

[THECORBYLOON]

TORATORATORA, "those that work hard to provide for their own retirement get it all stripped away by the state to give to the aforementioned parasites."

Why would all their savings be given to the Government?

[Peter Pedant]

so......... you demanded change
and now find you are worse off than before ?

what a surprise - I bet that has not happened beofre

[Peter Pedant]

erm savings arent taxed are they?
someone is gonna call me silly.....

[THECORBYLOON]

Tax is payable on any interest above £1,000.

[ichkeria]

"those that work hard to provide for their own retirement get it all stripped away by the state to give to the aforementioned parasite2

Or see their pensions made worth less by reckless "ecomonics" :-)