Labour’s £40bn tax increase in Autumn Budget | LBC analysis

So....to invest in shares or not to invest in shares?

We need to plug the hole from somewhere. Yes, I'll be worse off, but at least it won't last forever.

When Tories cry, the country wins.

By per capita GDP the average Brit is poorer than Mississippi, the poorest State of the Union. During 2023 that gulf became wider as MS pulled even further ahead of the UK. This budget will further degrade the performance of the UK economy.
Trump/Vance, 2024

From what I've seen it seems sensible, on the whole. I do think people will be very put out if they don't see an improvement in their lives in the next 4 years. It doesn't have to be huge or in every area, but a direction of travel needs to be felt.

I love how the main stream media is hanging their hat on "40bn in tax increases".

The taxes increased affect mostly the people that have broad enough shoulders to weather these costs.

Poor Fogarty not getting the response from this guy that she wanted ha ha

Looking forward to JOB desperately trying to positive spin this. ​​⁠50% rise. In bus fares Use the bus everyday that is minimum of over £365 a year.. ok

Of course the change in employer NI will have an impact. I have a meeting scheduled Monday to discuss job cuts and dropping the planned 2025 pay rises to offset the impact.

What growth since Brexit?

If we give 3bn to ukr every year, i want an apartment on kyiv.

All those Mum's with part time self employed childcare and cake baking microbusinesses have just been tax spanked. Labour's message is clear - you're not earning enough fiddling around at home and you need to be forced to close up shop and get a 'real' job paying tax so you can hand it to layabouts and pensioners. Bet you didn't think Labour would target y'all when you voted for them in droves girls!

Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments..

IMF bailout in years to come , they broke us in the 1970’s and Labour will do it again. Absolute BS that they inherited a mess , look around you

IMF bailout in years to come , they broke us in the 1970’s and Labour will do it again. Absolute BS that they inherited a mess , look around you . They will bloat the public sector even more .

Always preaching expansion and growth. Never let's take what we have now and strengthen and fix it make it future sound and proof. Nope just expand and get bigger and stretchhhhh to keep up with other technologies and populations while getting thinner and thinner weaker and weaker like an ever expanding cobweb until pop. While we can remain competitive as multi islands we cannot ever win a population race with Europe or anywere of importance for that matter. Wonder if the scandenvians obsess about growth and ermm home assest ownership . Probaly not 😂 and look at them

Robin Hood Reaves.
Taking money 💰 from the rich to give to the poor. like a proper labour Chancellor 👏 👌 👍

I cant believe i am still hearing sky news lying about the budget, they are honestly priceless.

Im all for closing the gap between rich and poor and helping the country to be prosperous, but taxing education (in any form) is really not the way to succeed. This is just a populist move which seems great on day one (raises some tax money) but actualy in the long term is very negative. All that will happen is people will slowly move away from private school (meaning leee tax for the budget) and will instead become dependents on the system. They will save money, some of which will be taxed, but they will spend it on non-productive things. Investing in education is investing in our future. Like brexit, the damage will be felt slowly, in the future, with little to no accountability to this decision.

A perfectly similar philosophy would be to raise taxes on private healthcare (the rich can afford it, right? And it raises money for the NHS yayy problem solved) but actually what you get is less people using private and more coming back to NHS, making longer waiting lists and costing the nation again. Wheras before they were paying for it out of their own pocket, now they will ask you to pay for it. Its the same idea

The budget is better than nothing but why aren't the super rich directly targeted. Now we know who rules Britain

Simple, you take money from people’s pockets, they spend less, demand shrinks, supply chain slows. = Labour led recession.

This is just a government fiscal correction after 14 years of cuts austerity and incompetence in deference to a warped small government ideology. Nothing works because of said ideology.

Shame you had to bring on someone connected to the evil that is the IMF. That organisation has done the bidding of the worst neoliberals in the world and destroyed millions of lives.

😂 - Sunak talking about COVID and Ukraine as to why the UK has less buying power but Zero mention of Brexit which devalued the pound and has made it massively difficult for British businesses to do business with it's biggest market.

Growth? Is he mad.....

As someone on minimum wage I'm very happy. Thank you, Chancellor 😊

😂😂😂😂😂😂😂😂😂😂

I will happily pay more to restore public services....

Tax doesn't pay for government spending, it simply removes excess money from the economy.
To ensure that money is available when needed to pay bills, tax collection is not a stable income or guaranteed to supply money when required, government create new money. This budget removes greater amounts of money from circulation than is needed to control inflation, this will leave many unable to pay for essentials, remove the ability for vast numbers to spend thereby reducing the economy.
If an individual cannot afford to buy something that money doesn't circulate through the economy. Reduced circulation reduces the number of viable businesses. Reduced numbers of businesses reduces jobs and incomes and decreases availablity and choice, this in turn increases prices and therefore inflation. That increases the cost of welfare payments and health costs alongside creating disorder and greater policing costs.
We saw all this happening during the last few years of the Tory government. Reeves and Labour are only making it worse.
If only Chancers of the Exchequer understood that government finances are not like personal/family/business finances. Books don't have to balance, black holes don't exist because government can and does create money to fill the gaps.

The budget is a belief that we will have welief. -Wachel Weeves

In the last decade number of billionaires in UK has doubled and their wealth has doubled. Sharing the burden is a myth. That wealth is invested in assets and tax havens. That does not create wealth for the country or its people. I wish there was a direct tax for that. There would be investment in public services which is used by 99% people. There would be infrastructure spending. This country is in dire straits in terms of infrastructure against comparable economies. Without physical and digital infrastructure productivity does not improve. This government is trying to address that. There are big challenges with what they are left with.

We have the best and hottest economy in the world here in the united states.

The tories were never going to fix the country. This is the only way to fix things and the tories were too rich to shoot themselves in the foot by taxing them and their friends.

Growth, outside Europe, is a pipe dream.

Remember, along with the increase to employer NI came an exemption for businesses which employ fewer than four people at the minimum wage rate. The really little businesses are going to get a boost, which will allow them to shoulder the minimum wage increase. And the minimum wage increase? That's going to increase disposable income, which is the driving factor of a consumerist economy.

Growing budget deficit over the years which remains unsolved by consecutive Conservative governments needs to be tackled. It's not the toughest measures anyways, they need to raise tax and they're taxing those who can afford it. The taxes on houses are for those buying 2nd homes for example, which I think won't hurt the people who are on low or middle incomes. Additionally, other increases such as increase in passenger air duty for private air planes, increase in private school VAT, all helps. The wealthiest bracket of the population should be paying more toward the taxation revenue, they certainly earn enough. Furthermore, EMPLOYER's NI contributions have been increased, so to not bear the brunt on majority of workers unless self-employed contractors. Finally, inheritance tax revenue has also been increased, which is great, as there is vast amounts of wealth being passed down from families, it is rightful they pay into the community in the process - that is just common sense and decency.

However, the Labour government has certainly tilted the taxation schemes in the correct way to start reducing the budget deficit, more effective action will likely need to be taken for a more significant impact but let's see what happens.

I'm happy to pay more tax if things are sorted out to be honest, everything is broken, nothing works...

No wealth preservation by the USURIOUS bankers.

There wouldn’t be any more growth - her own forecasts have down graded growth

National Insurance tax rises combined with increases in the minimum wage will destroy tens of thousands of small businesses and boost the gig economy business model which will simply undercut them. It's over for the Labour Party. They are so smug and self satisfied in their London bubble but they've just sowed the seeds of their own destruction.

Lies Lies Lies from this despicable government.

Brilliant budget.

How do we get a statement?
How much has been plundered on terrorist nations, like Israel and Ukraine?

First smart guy

It won’t be better growth for our farming industry - prepare to loose our British farmland to foreign investment companies- nice job labour

Blame Brexit LBC that’s your only story

Wish they increased the cap gains tax further, while slightly reducing the regressive VAT.

How is growth possible with tax increases ?

The rich were getting too rich and the poor poorer. Someone had to come and put a stop to this Nonsense.

THE LABOUR GOVERNMENT HAVE LIED TO THE COUNTRY EVERY TIME THEY HAVE OPENED THEIR MOUTH!