Reeves has said there will be no additional income tax for the man in the street but it is rumoured the current tax threshold will be frozen until 2028.
This means pensioners will be hit again, some on the State Pension will start paying income tax on it and Private Pensions will also see a rise in income tax deductions.
is Labour hoping that the current crop of pensioners who voted Labour will have popped their clogs so their votes won’t count.

No rumour it is 2028.
The pre budget rumour via news is to extend it to 2030.
But Reform will gain power in 2029 giving every worker a excellent pay rise.
Plus pension wont be taxed.
Remember 20 k earnings before tax.

But fully expecting Labour to offer some kind of arselicking olive branch 2028.

But some people will still carry on voting for them…I know pensioners who are whining like a runaway jet, yet voted them in…er, cause and effect…?

Reform UK says it will fund these tax costs with £70bn of savings and additional revenue, but it provides few details. Their proposal to change Bank of England reserve rules is over-stated by at least £15bn, and the cost would likely fall on businesses and consumers, not banks.

These two factors mean that Reform UK’s plans have a total unfunded cost of at least £33bn – about twice the unfunded cost of Liz Truss’ ill-fated 2022 “mini-Budget“ !

You live in a dream world KPG and obviously have little or no knowledge of how governments raise money, it’s called tax, they might give it to you in one hand but take it back in the other. Farage has spent more time in the States than he has in his constituency which wouldn’t be difficult because he hasn’t been there once since being elected as an MP.

its not just pensioners its the lower paid especially in areas or jobs that the minimum wage is the maximum one. if the tax shreshold is not increased then it shows how close to the tory party labour are and some old proper labour MP.s will be turning in their grave by what this lot are doing. the less you earn the more money you need as a pint of milk costs the same no matter what you earn. yet some will bleat on about labour being the party for the poorly paid because they have less old etonians in the cabinet.

This tax code freeze is a con. It is a tax rise pure and simple and when Labour were in opposition they heavily criticised it.

If this comes to pass they will be proved to be massive MASSIVE hypocrites and nearly all sensible people will see through them.

Forget about Reform…Labour’s the problem that’s causing all this crap.

Labour ready to hit the ground running was what they said. Utter bullshit, 14 years to prepare for government and they're clueless. Fail to prepare at its most obvious.

Don't underrate my knowledge.
You'd be surprised how fiscally well better off I am than you.

Don't live in a tree house for starters to avoid tax.

To be continued in 2029!
In the meantime tax off

im sure we are all long enough in the tooth gents to know these parties are all exactly the same.

sure they can say what they like until they get into power and see the real mess the country is in.

shes going about it in the wrong way and her new policies are crap and make her look the hyprocrit for sure - but a think all parties just do the same and look after themselves and by that i mean themselves and their pals - she will only do what benefits those in london like the tories always have done - we are just meer puppets on the board once again and just get bent over everytime. Im sure she didnt realise how bad the books where and something needs to be done - this is apparent sometimes but yeh its all utter bullshit and they all the same and alwaysd will be !

On Thursday I am going to buy the FT and digest the budget in it's entirely. Only then will I comment as there is too much speculation at the moment.

The easy targets are those workers and pensioners who do not have enough to be able to pay accountants to dodge their "fair share" of tax. For years we have heard people say simply tax those with high wealth more but that's obviously more and more difficult as more and more people use the same tricks to avoid paying their "fair share".

The number of people I know who have put property into trusts to avoid paying inheritance tax or care costs is ridiculous but when you hear others have been doing it for years who can blame them?

Aye but the undercarriage was made of balsa wood……

Forget the rest, Labours in for five years and while all Party’s have their balls ups, this shower excell…what happened to the real Labour Party, looks like it’s been hijacked by a bunch of middle class Islington chancers with the collective personality of an electric blanket that’s been pissed on .

Or forget about reform because they'll never ever be in a position to govern.

The way politics are going Worzel Gummidge could be in power in five years time.

Buy a floor safe, cash in on any nest egg savings you have..They're coming after every little bit you have tucked away this week..

Not sure what you mean by fiscally ?
I don't live in a tree house, I pay U.K. income tax on my savings and my pensions, there is no way round it, if you have a solution let me know KPG.
Read Reform U.K. manifesto where they propose to make health insurance mandatory for everyone, I thought that’s why we paid National Insurance ?
American insurance companies already own 70 GP Surgeries in England and they would rake it in if everyone had to have mandatory health insurance.
Your brain is locked into this £20000 before you pay tax, that has to be funded some how, it’s not for free.

Johnson has already had a stint in the hotseat.

Even Hangus mite fancy a comeback.

NI used to be ring fenced for NHS and State Pension but that was changed years ago, it's now just thrown into the coffers as general taxation and distributed as the government of the day sees fit. Same as Road Tax, used to be ring fenced for new road projects and road repairs but not any more.

Slightly of topic.
NMN forecast to go up 6% in April generating a windfall taxation for the government.

Great news for the younger generations getting on the works ladder.
Beyond me why these students go to university to create debt and how many actually end up with a top notch job.

many forms of tax avoidance are totally legal. the government would be more popular if they closed all these especially those on PAYE and would surely fund keeping the poor out of taxation.

In 2023, the average annual salary for graduates in England was £40,000, while the average for non-graduates was £29,500.
Between the ages of 23 and 31, graduates' average earnings grow by 72%, compared to 31% for non-graduates.

What's NMN?

National Minimum Wage.

Just read on the BBC website that someone pleading poverty on 33k a year on benefits.

Beyond belief.

There is tax avoidance which is legal, tax evasion is illegal, people employ accountants to assist with tax avoidance, no accountant would do anything illegal, I used to have submit my accounts to my accountant, I had to sign and declare everything I provided was factual. My accountant got jailed for 18 months for fiddling his own affairs, he is back practicing again.

not really as there must be numerous kids involved to reach that level of payment. its a case of being unable to use that money as it could and possibly the oven is used to put the take away menu,s in and new clothes bought to save on washing the old ones.

exactly. you hear the word freeze and you think its something good for you rather than something that will cost us more and more until its increased. do not know but i doubt even thatcher went down that line.

Only half the story KPG, read the facts, she is disabled, would you like to be in her position, she previously worked as a civil servant and in digital marketing, but hasn't been able to work for the last few years due to several disabilities, including a connective tissue disorder that causes their joints to dislocate. She is not receiving anything she is not entitled to, would rather her go into a nursing home costing the government a lot more.

think we have all made mistakes when commenting on half a story rather than getting the full facts. mind you lefties do the same but will not admit there mistakes unlike i will.

More of a worry how that poor lass on £150k can't manage because she has to pay for child care and doesn't get child benefit which means she needs to live on "only" £5k a month. Maybe we should start a JustGiving page for her.

If you are referring to me I am not a lefty, I was only correcting half a story.

no i,m making a comment on what i wrote on the subject before getting the full facts.

it was called norfolk maximum wage when i lived there as most were on it.

I corrected myself the other week regarding the Bobby shooting the black fella.

I’ve heard you’ve got a collective of Goldfish called Trotsky, Lenin, Stalin , Marx and Adolf.

You left out Kier Snowy. He's a striped one with a black mask (designer donor material)

Nooooo….he's not a goldfish…..they have a backbone…more of a jellyfish….

Indeed.

WH Smith only sell the FT on a weekend...........it will have to be the Star then!

the interesting point is how much this budget is going to cost the average low earner for me. totally no interest on things that do not concern me even if they might a few years down the line like costs eventually going up after businesses take a hit.

When she makes the budget announcements in Parliament it’s only about the major changes, the ones in the small print you never hear about until they effect you.

Wonder who's Gunna start the
Budget thread off in an hour!!!??

No matter what happens unless there is revolution Labour will be in power for the next 5 years not unless they implode which is always a possibility.