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WearyRhino

Budget 2014 (Merged threads)

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It will also affect the well guided, well informed, protected, advantaged and smart - because if something goes wrong it'll likely be out of their control anyway.

Absolutely, but they'll be able to regale their family and friends with anecdotes on how nice it was to have had a choice!

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Of course the 1p of a pint is meaningless anyway. What will happen, if it happens at all, is that pubs will knock the penny off for a couple of weeks and then quietly restore the prices back up to their original price as beer is almost always rounded to the nearest 5 or 10 pence these days anyway. Knocking the price down by only 1p is a massive inconvenience to pubs; it means altering all their tills and a large increase in fiddly change. 

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Of course the 1p of a pint is meaningless anyway. What will happen, if it happens at all, is that pubs will knock the penny off for a couple of weeks and then quietly restore the prices back up to their original price as beer is almost always rounded to the nearest 5 or 10 pence these days anyway. Knocking the price down by only 1p is a massive inconvenience to pubs; it means altering all their tills and a large increase in fiddly change. 

 

Nonsense!  It's a massive boost to the booze industry.  Massive.  It's not a gimmick at all.

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I haven't looked at the detail of the pension changes but my first thought is that people will take the pot of cash, look at the options available to them in terms of buying an annuity or investing it, and then decide that the returns are either too low or risks too high. Then they'll go to the local estate agent and find themselves a buy-to-let property. Even if it's only a one bedroom flat and it's got a mortgage on half of it the returns will still be better than an annuity and the risk non-existent because prices are only going one way.

 

End result being a further bump in house prices and more young people unable to get on the property ladder (whilst being ineligible for housing benefit).

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Yes, let's sacrifice the misguided, misinformed, vulnerable, disadvantaged & unintelligent at the altar of choice.

Are you saying that retired people are misguided, misinformed, vulnerable, disadvantaged and unintelligent?

 

My, my.  What prejudice.

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Of course the 1p of a pint is meaningless anyway. What will happen, if it happens at all, is that pubs will knock the penny off for a couple of weeks and then quietly restore the prices back up to their original price as beer is almost always rounded to the nearest 5 or 10 pence these days anyway. Knocking the price down by only 1p is a massive inconvenience to pubs; it means altering all their tills and a large increase in fiddly change. 

Clearly the coalition should have raised the tax on beer then given that you think a tax deduction is meaningless.

 

I'm glad you're rich enough to take it so lightly!

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I haven't looked at the detail of the pension changes but my first thought is that people will take the pot of cash, look at the options available to them in terms of buying an annuity or investing it, and then decide that the returns are either too low or risks too high. Then they'll go to the local estate agent and find themselves a buy-to-let property. Even if it's only a one bedroom flat and it's got a mortgage on half of it the returns will still be better than an annuity and the risk non-existent because prices are only going one way.

 

End result being a further bump in house prices and more young people unable to get on the property ladder (whilst being ineligible for housing benefit).

Good grief.  Beware those evil seniors!

 

Don't worry though because them thar yungsters can always apply for funding under the Help to Buy scheme to assist them on that property ladder.  We must never have young people renting must we?

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I haven't looked at the detail of the pension changes but my first thought is that people will take the pot of cash, look at the options available to them in terms of buying an annuity or investing it, and then decide that the returns are either too low or risks too high. Then they'll go to the local estate agent and find themselves a buy-to-let property. Even if it's only a one bedroom flat and it's got a mortgage on half of it the returns will still be better than an annuity and the risk non-existent because prices are only going one way.

 

End result being a further bump in house prices and more young people unable to get on the property ladder (whilst being ineligible for housing benefit).

 

This was discussed yesterday during one of those responses that apparently didn't happen because no one said anything until the Tories released a poster.  It's certainly a strong possibility and will further hit HARD WORKING PEOPLE's ability to save as rents would likely follow prices upward.  There'd be unlikely to be any impact on prices negatively for a while because of a steady supply of PEOPLE WHO HAD TO LIVE IN BLACK AND WHITE IN THE 50s turning up with a nice wad of cash.

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Clearly the coalition should have raised the tax on beer then given that you think a tax deduction is meaningless.

 

I'm glad you're rich enough to take it so lightly!

 

A 1p cut on a £3.50 product is meaningless.

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Clearly the coalition should have raised the tax on beer then given that you think a tax deduction is meaningless.

 

I'm glad you're rich enough to take it so lightly!

 

 

A 1p cut on a £3.50 product is meaningless.*

 

It is meaningless because, as I've already explained, it's highly unlikely the retailer will actually pass the penny saving on. And even if they do pass the saving on, you need to buy 300 pints or so to get one free. I don't know about you, but it takes me quite a while to get through 300 pints, and if I could manage it in a reasonably short time I doubt I'd be in any fit state to notice I'd saved myself the price of one pint! :rolleyes:

 

 

 

 

 

 

 

 

* up here the product is about £2.80, but the effect is still the same. 

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Good grief.  Beware those evil seniors!

 

Don't worry though because them thar yungsters can always apply for funding under the Help to Buy scheme to assist them on that property ladder.  We must never have young people renting must we?

Actually, the concern is more about furthering an economic recovery that is built on buying and selling property. 

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It is meaningless because, as I've already explained, it's highly unlikely the retailer will actually pass the penny saving on. And even if they do pass the saving on, you need to buy 300 pints or so to get one free. I don't know about you, but it takes me quite a while to get through 300 pints, and if I could manage it in a reasonably short time I doubt I'd be in any fit state to notice I'd saved myself the price of one pint! :rolleyes:

 

 

 

 

 

 

 

 

* up here the product is about £2.80, but the effect is still the same. 

300 pints? That's one afternoon session at the bingo.

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And a 1 p rise?  No doubt Ginge would have been all over the forum like a rash, complaining about  it..

 

The truth of the matter is that whatever had been in the budget,  he and his  Labour mates on here would  have been agin it.   Almost as unedifying a spectacle  as ®Ed Miliband waving his index finger around in Parliament yesterday  when he'd have done us all a favour by muting his speech by re-inserting it his backside. 

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And a 1 p rise?  No doubt you'd have been all over the forum like a rash, complaining about  it..

 

Who?  Which of the posters on here are you Milibanding(*) at?

 

(* = "waving his index finger around")

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Yes, let's sacrifice the misguided, misinformed, vulnerable, disadvantaged & unintelligent at the altar of choice.

Hear, hear.  Food stamps for those on benefits next please, these poor waste it all on fags and bingo :ph34r:

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And a 1 p rise?  No doubt Ginge would have been all over the forum like a rash, complaining about  it..

 

The truth of the matter is that whatever had been in the budget,  he and his  Labour mates on here would  have been agin it.   Almost as unedifying a spectacle  as ®Ed Miliband waving his index finger around in Parliament yesterday  when he'd have done us all a favour by muting his speech by re-inserting it his backside. 

 

That works exactly the same in reverse. It's the nature of politics. Opponents disagree.

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That works exactly the same in reverse. It's the nature of politics. Opponents disagree.

 

JohnM's just upset cos I do actually owe him a pint and it's now going to cost me 1p less.

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JohnM's just upset cos I do actually owe him a pint and it's now going to cost me 1p less.

 

Hindle will now be racing to get me that pint he owes me from 6 or so years ago.

 

Likewise, I know that paying for my central heating is safe now that the debt I owe to South Wakefield Sharks has been reduced by 1p.

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Are you saying that retired people are misguided, misinformed, vulnerable, disadvantaged and unintelligent?

 

My, my.  What prejudice.

 

Based on the fact that thousands take their annuities from their original pension provider, there has been a lack of understanding and confusion in terms of shopping around for the best annuity. And based on my own experience as an IFA, people do the most stupid things when it comes to sorting out their finances and regret it later. 

 

A retired Doctor of sound mind lost over £270,000 on a share scam and mirrored by many more retired people from other scams. 

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Based on the fact that thousands take their annuities from their original pension provider,

I can't see how giving people a choice will make that any different.  They will still get scammed by their pension provider, probably still via an annuity

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Are you saying that retired people are misguided, misinformed, vulnerable, disadvantaged and unintelligent?

My, my. What prejudice.

Are you saying that none of them are?

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I can't see how giving people a choice will make that any different.  They will still get scammed by their pension provider, probably still via an annuity

 

Annuities are outdated in many ways and good riddance as far as I am concerned. However, the choice of taking cash will have dire consequences for those who decide to live today and sod tomorrow. It will be their fault of course, but sad nevertheless. 

 

As to the Doctor, the shares never existed. 

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Are you saying that none of them are?

 

Over the course of 26 years, I helped to build a pension pot of of £80,000 for a close friend and who was intelligent and wise. Nearing early retirement, he was 'persuaded' by an Halifax adviser to switch from his then very low-risk funds to high risk, leaving him £30,000 down. Suicidal stupidity. He still cannot fathom out to this day how he made such a huge mistake! People of all ages make financial errors to their cost, with some elderly sick people even more vulnerable. 

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A hidden gem in the budget

 

Anyone who thinks this is paranoia obviously has had few dealings with small and medium sized business ownership.  I know more than a few people who have had to go to court to get HMRC to back off over mistaken allegations of massive unpaid taxes, I've seen letters from HMRC to friends' companies saying the money is owed and they're going to court to get an order then coming in to essentially strip the company bare, this then gets the company to spend fortunes on independent forensic accountants who prove there's nothing owed and HMRC then slope off to the next target on their idiot list.  Now, they don't have to bother with that, the tax man can simply strip the company bare in advance then leave the company with no money to pay for an appeal or the independent expertise to prove they owe nothing.

 

A slow hand-clap for the idiots who think this is fair practice.  Yet another piece of idiot legislation and HMRC practice unfairly targeting small businesses.

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@simonblackwell on Twitter

 

Speaking of this:

 

_73690936_bingoad.jpg

 

Genuinely, if that Conservative beer & bingo ad had come up at a Thick Of It script meeting we’d have rejected it as being too far-fetched.

 

 

 

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