Religion and Ethics Forum
General Category => Politics & Current Affairs => Topic started by: Nearly Sane on October 30, 2024, 09:16:21 PM
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A budget that a lot of people who might have been put off by the promises made in the election might have voted for had they been honest about it.
https://www.bbc.co.uk/news/articles/c86q31wlj39o
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A budget that a lot of people who might have been put off by the promises made in the election might have voted for had they been honest about it.
https://www.bbc.co.uk/news/articles/c86q31wlj39o
Given my current situation: semi retired, working two days a week and a drinker of draught beer, it wasn't too bad for me. The inheritance tax changes will affect me at some point in the next few years but given the money I receive that way will be completely unearned, I have no issue with them.
I'm glad I'm not running a business, small or otherwise.
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Kwami-Kwasi has admitted in the i that this budget is cleaning up his party's mess. I'd post a link, but there's a paywall.
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Kwami-Kwasi has admitted in the i that this budget is cleaning up his party's mess. I'd post a link, but there's a paywall.
Archived version
https://archive.vn/KqKz7
ETA Very odd article, sort of takes the blame but not quite. He's right about growth being needed. The worry from the budget is that it is a lot of 'fixing'. The capital projects will create some growth hence the initial small rise but they don't change the basic problems, hence the drop off in growth. Even then it's not clear that there is the all round capacity to allow for the capital projects in terms of resource and shovel ready projects.
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My heart bleeds
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More pushback
https://www.bbc.co.uk/news/articles/c0k8n1lpv1lo
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Reeves removes lie from her CV
https://www.express.co.uk/news/politics/1976516/rachel-reeves-CV-economy-correction
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Reeves removes lie from her CV
https://www.express.co.uk/news/politics/1976516/rachel-reeves-CV-economy-correction
And from LinkedIn
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'Winter fuel cut to put 50,000 into poverty next year'
https://www.bbc.co.uk/news/articles/c80l9lde5yjo
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'Winter fuel cut to put 50,000 into poverty next year'
https://www.bbc.co.uk/news/articles/c80l9lde5yjo
That's not what the article says.
The article says that an extra 50,000 pensioners will be put into relative poverty which is defined as having less than 60% of the median income.
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That's not what the article says.
The article says that an extra 50,000 pensioners will be put into relative poverty which is defined as having less than 60% of the median income.
Was going to make the same point.
People can drop into, or move out of, relative poverty on the basis of changes in national median income even if their financial position doesn't change one iota.
But there are further reasons why relative poverty is particularly unhelpful for people over 65 as it is calculated on 60% of total median income and doesn't take account of housing costs which are typically way, way less for the over 65s than younger groups. I've seen some recent data which shows that when housing costs are removed, then over 65s are the least likely age group to be in relative poverty.
But there are more factors - specifically deductions. Most age groups need to pay NI at source, while those over 65 don't so their effective tax rate is lower. Add to that that many of the younger age groups are now having further deductions at source for student loans and that's before you might add in costs of supporting children etc.
So matched income for income, over 65s will have much higher disposable income than other age groups and I would suspect that an over 65 person at the relative poverty threshold (the people that this article focusses on) is probably as wealthy (if not more) in terms of disposable income compared to someone in a younger age group on national median income.
That isn't to say that there aren't pensioners in genuine absolute poverty, but that using relative poverty is a particularly bad metric in this case.