
White wine and opinions. Member @speechunion
UK
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Robert Corbishley retweeted
This deserves far greater publicity, so please repost.
The hidden tax measure in the Budget is huge for people paying tax under self-assessment - sole traders, partners, landlords, retired investors.
For 6th April 2028-29, you currently pay 50% of your income tax late in the tax year in question (in January 2029), 50% just after the year end (in July 2029) with any make-up payment in January 2030.
Under the new proposals you will pay your tax perhaps monthly or quarterly (TBC) from April 2029 onwards. A rough analysis suggests the impact is to draw about 50% of your tax bill forward, a huge cashflow boost to HMRC and a significant funding issue for the self-employed.
The Treasury recognises this, and expects to raise ยฃ1.3bn of additional tax in 29/30 as a result of this change.
The cashflow impact of the accelerated charge will send some businesses to the wall.
If the @Conservatives have anything left in them, this is the open goal that they should seize:
teapawt.net/BBCNews/status/2115818โฆ
'Painful' years ahead, think tanks warn, as living standards set to fall bbc.in/4jIAUoU
Robert Corbishley retweeted
The state is spending more per person than at any time outside the pandemic. Yet a third of us now use private dentists, record numbers have private health insurance, and nearly a third of pupils have had a tutor.
Welcome to Top-up Britain. My Spectator cover this week ๐
Robert Corbishley retweeted
NEW: No 10 clarifying that despite the Chancellor saying he would cut the welfare bill by the next election there is no commitment to do so
Nobody in the Cabinet has even run a business.
The hidden tax measure in the Budget is huge for people paying tax under self-assessment - sole traders, partners, landlords, retired investors.
For 6th April 2028-29, you currently pay 50% of your income tax late in the tax year in question (in January 2029), 50% just after the year end (in July 2029) with any make-up payment in January 2030.
Under the new proposals you will pay your tax perhaps monthly or quarterly (TBC) from April 2029 onwards. A rough analysis suggests the impact is to draw about 50% of your tax bill forward, a huge cashflow boost to HMRC and a significant funding issue for the self-employed.
The Treasury recognises this, and expects to raise ยฃ1.3bn of additional tax in 29/30 as a result of this change.
The cashflow impact of the accelerated charge will send some businesses to the wall.
Robert Corbishley retweeted
๐จ BREAKING: A UK bank chief executive has said of Healey's budget:
"Taxing the engines of growth to reduce VAT on gherkins is end-of-Rome level of stupidity"
ft.com/content/80acb561-34e2โฆ
Robert Corbishley retweeted
John Healey will cut ยฃ2bn from the defence budget despite boasting about filling a funding black hole.
Read more from our defence editors ๐
telegraph.co.uk/politics/202โฆ
Robert Corbishley retweeted
Can anyone please explain to me why the Chancellor paying ยฃ100 into my bank account to help me pay my energy bill - which I can easily afford and will be rising by far more than that sum anyway - is going to help the economy or deliver growth in every postcode?
This is insane fiddling while the economy burns.
Robert Corbishley retweeted
The Budget in summary:
We're going to Hell in a handcart but the Chancellor has applied a slight brake to our speed for a few months as we continue to hurtle towards the inevitable.
Robert Corbishley retweeted
Big row potentially brewing on defenceโฆ
Tories alleging that Healey - the man of principle who quit over DIP - might actually be *cutting* defence spending
In the next two financial years, the budget for the MOD will be ยฃ1bn a year less than Rachel Reeves planned when the DIP was published in June.
The total departmental spending can be calculated from the Budget Red Book pages 145-147. When compared to the DIP settlement, the Tories claim it shows that Labour are cutting ยฃ1bn a year from the MOD budget for the next two years.
Why? It appears that they are forecast to spend less than expected on pensions. Rather than the MOD being allowed to reuse this Resource Department Expenditure Limit, the Treasury has kept it
Cartlidge: โThis is a complete dereliction of duty from the Chancellorโ
Robert Corbishley retweeted
Also today... the OBR has calculated that the Employment Rights Act will have a โnegative economic impactโ as the cost to businesses will far outstrip any boost to workersโ productivity.
cityam.com/labour-workers-riโฆ
Robert Corbishley retweeted
LATEST Net migration to go up again to 230,000 by the mid-2031 under Labour, OBR forecasts show. More on the Budget now on @GBNEWS.
Robert Corbishley retweeted
Britain is broke. And to fix it, we need to start growing again.
Thatโs why Reformโs Economic Rescue Plan includes these 64 pro-growth measures Iโd take if I were Chancellor:
๐จ๐ป๐น๐ผ๐ฐ๐ธ๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ก๐ผ๐ฟ๐๐ต ๐ฆ๐ฒ๐ฎ
1. Approve Rosebank
2. Restart oil and gas licensing
3. Legalise onshore exploration
4. Abolish the Energy Profits Levy
5. Restore maximum economic extraction as the North Sea regulator's objective
๐ฅ๐ฒ๐ถ๐ป๐ฑ๐๐๐๐ฟ๐ถ๐ฎ๐น๐ถ๐๐ถ๐ป๐ด ๐๐ฟ๐ถ๐๐ฎ๐ถ๐ป
6. Abolish the Emissions Trading Scheme
7. Halt the Carbon Border Adjustment Mechanism
8. Repudiate AR7 contracts for difference and scrap AR8
9. Implement the Fingleton Review on nuclear in full
10. Automatically approve French and South Korean nuclear designs
๐๐ฒ๐๐๐ถ๐ป๐ด ๐๐ผ๐บ๐ฒ๐ ๐๐๐ถ๐น๐ ๐ถ๐ป ๐ข๐๐ฟ ๐๐ถ๐๐ถ๐ฒ๐
11. Cut affordable housing requirements on brownfield sites
12. Permitted Development Right for brownfield housing
13. Repeal Biodiversity Net Gain
14. Exit the Aarhus Convention
15. Repeal and reform the Habitats Regulations, including Nutrient Neutrality
16. End the boiler ban
17. Legalise air conditioning to meet overheating rules
18. Remove mandatory EPC improvements
19. Revoke the Future Homes Standard
20. Repeal the Renters' Rights Act
๐๐๐ถ๐น๐ฑ๐ถ๐ป๐ด ๐๐ฟ๐ถ๐๐ถ๐ฐ๐ฎ๐น ๐ก๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐น ๐๐ป๐ณ๐ฟ๐ฎ๐๐๐ฟ๐๐ฐ๐๐๐ฟ๐ฒ
21. Legislate approval for new runways at Heathrow and Gatwick
22. Auction airport landing slots
23. End 'target-consistent' carbon pricing in project evaluation
24. Ban carbon emissions considerations in planning applications
25. Fast-track all water reservoirs as nationally significant projects
26. Make Development Consent Orders a true one-stop shop
27. Restrict judicial review of ministerial planning decisions
28. Scrap Net Zero construction rules
29. Scrap the social value test in procurement
30. Lift launch limits at SaxaVord Spaceport
31. Open completed sections of East-West Rail
๐๐ผ๐ถ๐ป๐ถ๐ป๐ด ๐๐ต๐ฒ ๐๐ ๐ฅ๐ฒ๐๐ผ๐น๐๐๐ถ๐ผ๐ป
32. Review regulatory barriers to AI adoption
33. Permit on-site gas generation for data centres and industry
๐ฅ๐ฒ๐ฑ๐๐ฐ๐ถ๐ป๐ด ๐๐ต๐ฒ ๐๐ผ๐๐ ๐ผ๐ณ ๐๐ถ๐ฟ๐ถ๐ป๐ด ๐๐ฟ๐ถ๐๐ถ๐๐ต ๐ช๐ผ๐ฟ๐ธ๐ฒ๐ฟ๐
34. Cut Employer NI back to 13.8%
35. Introduce a migrant worker levy
36. Repeal the Employment Rights Act
37. Clarify that workplace rights don't require mandatory training courses
38. Let experienced tradesmen work on government contracts without CSCS qualifications
๐จ๐ป๐น๐ฒ๐ฎ๐๐ต๐ถ๐ป๐ด ๐๐ต๐ฒ ๐๐ถ๐๐ ๐๐ผ ๐๐ป๐๐ฒ๐๐ ๐ถ๐ป ๐๐ต๐ฒ ๐ฅ๐ฒ๐ฎ๐น ๐๐ฐ๐ผ๐ป๐ผ๐บ๐
39. Review bank capital requirements to boost lending
40. Rule out Net Zero in financial regulators' remits
41. Repeal climate-related financial disclosure rules
๐๐ฒ๐๐๐ถ๐ป๐ด ๐ ๐ผ๐๐ผ๐ฟ๐ถ๐๐๐ ๐ ๐ผ๐๐ถ๐ป๐ด
42. Scrap airport 'surface access strategies'
43. Abolish the electric vehicle mandates
44. Apply domestic GB hours to all UK HGV trips
45. Ban Low-Traffic Neighbourhoods
46. Back the M4 Relief Road
47. Move a new car's first MOT to four years
48. Abolish the Renewable Transport Fuel Obligation
๐จ๐๐ถ๐ป๐ด ๐๐ฟ๐ฒ๐
๐ถ๐ ๐๐ฟ๐ฒ๐ฒ๐ฑ๐ผ๐บ๐
49. Replace GDPR with a New Zealand-style Privacy Act
50. Fully re-legalise Imperial units
51. Review all unchanged EU law
52. Automatically repeal remaining EU law in 5 years unless retained
๐๐ฒ๐ป๐ฒ๐ฟ๐ฎ๐น ๐๐ฒ๐ฟ๐ฒ๐ด๐๐น๐ฎ๐๐ผ๐ฟ๐ ๐ ๐ฒ๐ฎ๐๐๐ฟ๐ฒ๐
53. Make quarterly Making Tax Digital reporting voluntary
54. Reduce legal obligations on SME Non-Executive Directors
55. Double permission-free event days from 28 to 56
56. Make pavement dining licences automatic and permanent
57. Let shops open until 10pm, except Sundays
58. Repeal board diversity and inclusion rules
59. Remove the Sustainable Aviation Fuel mandate
60. Abolish the packaging tax
61. Scrap BBC and Channel 4 priority on streaming platforms
62. Remove the Public Sector Equality Duty
63. Five-year sunset on all QUANGOs
64. Five-year sunset clause on all new regulations
And there are more to come!
Britainโs full potential is waiting to be unleashed ๐
Robert Corbishley retweeted
Also, the notion that Oxford Street was 'dominated by traffic' is just not true. Lately it's been dominated by vape shops, tatty tourist stalls, pickpockets, fraudsters, so-called American candy shops and other money-laundering outlets, and those hideous rip-off Tuk-Tuk things covered in garish lights playing loud music. If @MayorofLondon wanted to revitalise Oxford Street, he should have made it a bus and black cab-only zone and clamped down on those monstrosities.
Robert Corbishley retweeted
Welcome to the roads and motorways in Britain. Shameful. Itโs time to clean up Britain.
Robert Corbishley retweeted
But of courseโฆ
Cyclists are continuing to ride along the newly pedestrianised section of Oxford Street, despite being asked to dismount.
Around seven security staff have been stationed near Oxford Circus, calling out to cyclists to get off their bikes, with mixed success.
More on this story โก๏ธ bbc.in/3W32bbT
#OxfordStreet #London #Cycling #Pedestrianisation



























