UK Budget 2009

[administrator]

Hi All,

The budget is fast approaching and I am interested to know what you all think will be announced this year.

I am still of the thought that the government will not want to introduce too many tax hikes with an election due in the next year or so but with talk of having to go to the IMF I do wonder if Labour have no choice but to raise taxes now.

This may be even more likely with Ireland now having taken this approach:
http://news.bbc.co.uk/1/hi/business/7986862.stm

Will it be a nothing budget or are we all about to be hit with massive tax increases?

[PM-Junkie]

Hi All,

The budget is fast approaching and I am interested to know what you all think will be announced this year.

I am still of the thought that the government will not want to introduce too many tax hikes with an election due in the next year or so but with talk of having to go to the IMF I do wonder if Labour have no choice but to raise taxes now.

This may be even more likely with Ireland now having taken this approach:
http://news.bbc.co.uk/1/hi/business/7986862.stm

Will it be a nothing budget or are we all about to be hit with massive tax increases?

As usual you can ignore what is announced at the dispatch box as that will be a pack of lies and/or spin. Labour budgets have to be analysed over the following 48 hours.

[AtW]

Brown won't cut public spending even though he knows he can't win elections - backbenchers will want spending to continue as they would not want to lose their own seats even if Govt is no longer in power.

There will be some deferred (until next election) taxes for sure, but I doubt anything new - Brown is flying jumbo jet into the ground and won't stop until it hits it.

[moorfield]

Will it be a nothing budget or are we all about to be hit with massive tax increases?

No obvious tax rises, that will happen in Chancellor Balls' first emergency budget after the general election (if, collective muppets that we are, we vote ZanuLabour in again).

More stealth taxes and fiscal drag again this time around. Suspension of higher rate pension contributions and ISA contributions for the next few years.

[darmstadt]

Booze, fags, anything to do with cars will go right up and possibly VAT a percent or 2 I reckon.

[Doggy Styles]

What? Labour will run the country further into the ground for the next 14 months to try and win an election? Shirley some mistake.

[Gonzo]

I suspect that they will attempt to muddle along for the next six months.

They will try to make out that the measures announced in the pre-budget report are still valid. They will probably raise the tax on booze and fags on the basis that this is necessary for the country and good for people, but other than that I don't think they will deviate from the previous statements for now.

I don't think that they will take measures now to sure things up as the Irish are doing.

It is the person that is left holding the baby at the end of the year that I feel sorry for.

[expat]

Hi All,

The budget is fast approaching and I am interested to know what you all think will be announced this year.

I am still of the thought that the government will not want to introduce too many tax hikes with an election due in the next year or so but with talk of having to go to the IMF I do wonder if Labour have no choice but to raise taxes now.

This may be even more likely with Ireland now having taken this approach:
http://news.bbc.co.uk/1/hi/business/7986862.stm

Will it be a nothing budget or are we all about to be hit with massive tax increases?

You mean you're going to do an article and you want us to write it for you?

[EternalOptimist]

I cant see any more big stimulus measures, not after fast Eddies intervention the other week and the failure of the gilts auction.
Maybe some talk about green shoots and lets wait for the current measures to take effect.
In the meantime, tax immigration, big cars, fags , booze. Freeze public sector recruitment and freeze the TV Licence fee.

[SallyAnne]

I think they'll make radical changes to try and win votes - that's all they've got left now, and they surely know it.

They'll want to win at both ends - business and the little man on the street.

I wouldn't be suprised if they reduce Corp tax or at the very least introduce a "spread your payments over 2 or 5 years" scheme.

They'll probably also reduce tax for the lowest paid, and possibly introduce new payments for those who've lost their jobs during the recession.

The "middle class" worker and higher bracket worker will get stuffed though - tax hikes on those who can afford it basically. They're going to loose those votes to the Tories anyway, so what do they care?