Budget 2021 - what are your thoughts?

To me I was surprised by the very little real fundamental change. I was expecting (hoping?) for a more fundamental shift to help even up the rising inequality.

I was expecting the billionaire rich, particularly tech giants to be taxed more.

Pushing 95% mortgages in my mind is just asking more people to get in debt, but likely help power the future buy to let market rather than help home owners!

What are your thoughts?

I could write an Essay, on how bad this budget will be. Econ nerds like myself tearing our hair out. It’s all cosmetic, no substantive change. Also, masking deep cuts to the NHS of all things! £30bn I think.

They actually put in Tax cuts for big business, nothing of substance for SMEs other than a 2 year head start on the impending corp tax rise. Not to mention nothing for Education, social care, or affordable housing!

Worrying for Eastleigh, is that there was no mention of increases to local government funding. With Hants County and Eastleigh Borough Council’s finances in the state they are this could have disastrous effects.

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Cuts for the NHS?! That seems …bold.

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Am limited by what I can comment because of work. But this is now in the guardian as well. Labour: £30bn DHSC budget cut will hit emergency NHS funding | Society | The Guardian

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Biggest thing for me was the gap in funding for local councils. Mental health and social care services are already in the toilet and there’s nothing for either.

I find extremely frustrating.

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What’s the communities thoughts on this?

I think that makes the treasury about £19 billion over the period.

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It’s a stealth tax, plain and simple. This outdated deficit hawk economics is a form of ideological extremism. Will cost us so much, it makes me so angry!

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Agreed. In real terms it drives wages down after ten years of wages being driven down.

Shock, horror, who’d have guessed who’d be paying the Covid bill…

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