Budget

Craiglxviii

Senior Member
Joined
Sep 6, 2015
Messages
17,781
Reaction score
7,426
Location
Cambs UK
Your Mercedes
970 Panamera Turbo; W221 S500L AMG Line, C215 CL500, W251 R350L AMG Line, plus several more now gone
Overall, given the current situation, it's not to bad a budget. I don't really understand what this actually means: -
- £400m to regenerate housing estates and £1.1bn to unlock strategic sites for development

- Which housing estates?
- Where is the £1.1Bn to be spent "to unlock strategic sites - and who gains from it?

- The "new" NHS money "Hammond announced an immediate £350m boost for this winter followed by £1.6bn more next year for the front line above the rise already planned.

- Is it new money or an old budget dressed up again>?

- On the Beeb page it says NHS leaders have already warned waiting times will continue to worsen.

From gov.uk:

Estate regeneration – The Budget provides £400 million of loan funding for estate regeneration to transform run-down neighbourhoods and provide new homes in high‑demand areas.

Land Assembly Fund – The government will provide £1.1 billion for a new Land Assembly Fund, funded from the NPIF. The new fund will enable Homes England to work alongside private developers to develop strategic sites, including new settlements and urban regeneration schemes. (1)

More here: https://www.gov.uk/government/publications/autumn-budget-2017-documents/autumn-budget-2017#housing

The Housing section looks actually quite well thought-out. They're putting a decent element of incentives and assistance into releasing land for housing, building the houses and helping people to buy them.
 

KeithJG

Senior Member
Joined
Dec 31, 2014
Messages
143
Reaction score
16
Location
Dover, Kent
Your Mercedes
C320CDI Sport Edition S203 2006 V6 7g
that shouldn't happen. last I heard 'new' cars could be held in stock for no longer than 6 months before being registered. given the vast changes in appearance between the 203 and 204, I find it hard to think that ANYONE would be unable to notice the difference
I do know what you mean and there is a thread about an 08 reg w203 and they argue that it is a w204 but it isn't.
Back to the budget and one Tax band higher.......the new diesel motor being first registered on 1st April 2018 is not a motor that does not have the new standard as they all have to have it but they are being penalised by having to be taxed one band higher than they should be to deter buyers of diesel motors.
 

turbopete

Senior Member
Joined
Feb 4, 2009
Messages
14,209
Reaction score
331
Age
48
Location
Spennymoor
Your Mercedes
2017 '17' Ford Mondeo 2.0TDCi ST Line X 180 (sorry)
building the houses and helping people to buy them

great to a point. that point being even with the 'help to buy' and the part ownership thing, I know of very few, if anyone around here who could actually buy a house. most of the people I know are single people on minimum wage contracts for 30 hours per week. how could they POSSIBLY save up enough of a deposit AND get a mortgage on a tiny shoebox house (and new builds are so small its ridiculous, they should be forced to enlarge rooms by at least 50% as most furniture wont fit in, the showhome stuff is specially made to size, smaller than the stuff you can buy on the high street) costing (even around here) almost £100k for a 2 bed (sorry 1 bed plus box room) new build, or ex council houses (in a reasonably decent area, not a slum area) for £60k?? they can cut stamp duty all they like, but rising house prices and lower (in comparison to house prices) salaries are NOT going to get people buying homes.
 

turbopete

Senior Member
Joined
Feb 4, 2009
Messages
14,209
Reaction score
331
Age
48
Location
Spennymoor
Your Mercedes
2017 '17' Ford Mondeo 2.0TDCi ST Line X 180 (sorry)
I do know what you mean and there is a thread about an 08 reg w203 and they argue that it is a w204 but it isn't.
Back to the budget and one Tax band higher.......the new diesel motor being first registered on 1st April 2018 is not a motor that does not have the new standard as they all have to have it but they are being penalised by having to be taxed one band higher than they should be to deter buyers of diesel motors.

from what ive read, euro 6 cars will not be affected, although my euro 5 diesel (which is all I can afford to own and run at the moment) probably WILL be affected. I just hope the jump to the next tax bracket isn't too high. I also don't see how they CAN tax at a higher rate than the bracket dictates. they set the rates and emissions rules cant (to my knowledge) be retrospectively applied. the best thing they can do, in my opinion, is leave things as they are for older cars and let them die out naturally, as they are doing, and clean up their own acts by getting clean buses and taxis, cleaner trains, boats and planes etc.
 

geraldrobins

Senior Member
Joined
Jan 20, 2013
Messages
835
Reaction score
61
Location
gloucester, UK
Your Mercedes
C Class/2011/200cdi
from what ive read, euro 6 cars will not be affected, although my euro 5 diesel (which is all I can afford to own and run at the moment) probably WILL be affected. I just hope the jump to the next tax bracket isn't too high. I also don't see how they CAN tax at a higher rate than the bracket dictates. they set the rates and emissions rules cant (to my knowledge) be retrospectively applied. the best thing they can do, in my opinion, is leave things as they are for older cars and let them die out naturally, as they are doing, and clean up their own acts by getting clean buses and taxis, cleaner trains, boats and planes etc.
I think the tax hike is only for new cars that don't meet the highest current requirements.
 

ajlsl600

Senior Member
Joined
Nov 18, 2013
Messages
9,031
Reaction score
6,029
Location
france
Your Mercedes
clk3202001,sl6002003 with everything regrettably sold ,A class 170cdi auto. NG/TF1800 ML250
as i said, france AINT perfect,BUT i and many others think we have a better quality of life for at the end of swings and roundabouts is ,probrably the same overall costs. and from a personal point of view i dont exceed the 180 days so i am not involved with the well known torture ,with the french tax regime
 

LostKiwi

Senior Member
Joined
Aug 25, 2006
Messages
31,328
Reaction score
21,575
Location
Midlands / Charente-Maritime
Your Mercedes
'93 500SL-32, '01 W210 Estate E240 (RIP), 02 R230 SL500, 04 Smart Roadster Coupe, 11 R350CDi
I also don't see how they CAN tax at a higher rate than the bracket dictates. they set the rates and emissions rules cant (to my knowledge) be retrospectively applied.
Sadly they can do as they please!
 

Craiglxviii

Senior Member
Joined
Sep 6, 2015
Messages
17,781
Reaction score
7,426
Location
Cambs UK
Your Mercedes
970 Panamera Turbo; W221 S500L AMG Line, C215 CL500, W251 R350L AMG Line, plus several more now gone
great to a point. that point being even with the 'help to buy' and the part ownership thing, I know of very few, if anyone around here who could actually buy a house. most of the people I know are single people on minimum wage contracts for 30 hours per week. how could they POSSIBLY save up enough of a deposit AND get a mortgage on a tiny shoebox house (and new builds are so small its ridiculous, they should be forced to enlarge rooms by at least 50% as most furniture wont fit in, the showhome stuff is specially made to size, smaller than the stuff you can buy on the high street) costing (even around here) almost £100k for a 2 bed (sorry 1 bed plus box room) new build, or ex council houses (in a reasonably decent area, not a slum area) for £60k?? they can cut stamp duty all they like, but rising house prices and lower (in comparison to house prices) salaries are NOT going to get people buying homes.

No. Very true. It will help some but not all. What is needed to help more people is both an increase in the number of people in work, AND rising wages for those already in work. That means that Productivity AND Employment have to grow. They're not mutually exclusive but one is a numerator of the other, decreasing unemployment reduces productivity for instance. So what is needed is the ability to increase the profit out from the revenue in of UK Plc.

This is what the latest budget has to say about that.

Backing innovators and investing in R&D – the government has already committed to the biggest increase in R&D spending by any government in the last 40 years.45 The Budget invests a further £2.3 billion in R&D in 2021‑22 from the NPIF, and increases the R&D expenditure credit to 12%, demonstrating clear progress towards the government’s ambition to raise the level of investment in R&D in the economy to 2.4% of GDP. This means that, based on current forecasts, total support for R&D will increase by a third by 2021-2246 (22)

  • Skills and jobs for a new economy – the Budget makes a step change in transforming lifelong learning, with a unique partnership between employers, unions and the government to deliver a new National Retraining Scheme to help people adapt to the changing world of work (31)
  • Stimulating long-term business investment and exports – the Budget takes a radical step to stimulate investment in high growth, innovative businesses with a plan to attract £20 billion of new funding into these firms
And some more:

5.9 Supporting labour market productivity

NLW and National Minimum Wage (NMW) – The percentage of full-time jobs that are low paid is at its lowest in at least 20 years.54 Following the recommendations of the independent Low Pay Commission (LPC), the government will increase the NLW by 4.4% from £7.50 to £7.83 from April 2018. The LPC estimate this will benefit over 2 million workers.55 In total, earnings for a full-time worker on the NMW will have increased by over £2,000 a year since the introduction of the NLW in April 2016.56

The government will also accept all of the LPC’s recommendations for the other NMW rates to apply from April 2018. For youth rates, this represents the largest increase in 10 years.57 The recommendations include:

  • increasing the rate for 21 to 24 year olds by 4.7% from £7.05 to £7.38 per hour

  • increasing the rate for 18 to 20 year olds by 5.4% from £5.60 to £5.90 per hour

  • increasing the rate for 16 to 17 year olds by 3.7% from £4.05 to £4.20 per hour

  • increasing the rate for apprentices by 5.7% from £3.50 to £3.70 per hour
 

HERBIEMERCMAN

Senior Member
Joined
Dec 15, 2008
Messages
1,407
Reaction score
40
Location
PRESTON, LANCS.
Your Mercedes
97. E300.TD. 7 SEAT.ELEGANCE. EST.TOYOTA SUPRA MK4. RS. VAUX. CORSA.GLS AUTO. SPORT.
The attack on older diesel cars is an absolute pathetic nonsense, if he has done it to help pollution in cities, i am sure everyone of you can see that the pollution is not from older cars, it is from transport and vans and trucks etc. This is pure politics kicking an inocent dog as this lot do not have the balls to kick the main offenders. Also i think the majority of old diesel car owners are not wealthy and do not do much mileage.
What is the current penalty for not taxing your car, be great IMHO if thousands did this like they did with the "bedroom tax". Herbie.
 

Craiglxviii

Senior Member
Joined
Sep 6, 2015
Messages
17,781
Reaction score
7,426
Location
Cambs UK
Your Mercedes
970 Panamera Turbo; W221 S500L AMG Line, C215 CL500, W251 R350L AMG Line, plus several more now gone
Or the Poll Tax.........
 

anglaslt

Senior Member
Joined
Feb 20, 2016
Messages
90
Reaction score
44
Location
Lithuania and UK
Your Mercedes
LHD B63S Brabus (CL63 AMG) and RHD BMW X3 M40i
Hammonds statement in the House was not clear about what was meant by "latest emissions standards". From what I've read since the increase will apply to all diesels not meeting RDE-2 emissions (not EU6 as I had imagined). As RDE-2 is not likely to be introduced until 2020 (I think), and for diesels maybe never, all new diesels will therefore be affected.

Diesels currenty owned will increase next year by RPI, about £5-10, I believe.
 

Craiglxviii

Senior Member
Joined
Sep 6, 2015
Messages
17,781
Reaction score
7,426
Location
Cambs UK
Your Mercedes
970 Panamera Turbo; W221 S500L AMG Line, C215 CL500, W251 R350L AMG Line, plus several more now gone
Air quality – In support of the National Air Quality Plan published in July, the government will provide £220 million for a new Clean Air Fund. This will allow local authorities in England with the most challenging pollution problems to help individuals and businesses adapt as measures to improve air quality are implemented. The government is launching a consultation alongside Budget on options that could be supported by this fund. (62) This will be paid for by:

  • a Vehicle Excise Duty (VED) supplement that will apply to new diesel cars first registered from 1 April 2018, so that their First-Year Rate will be calculated as if they were in the VED band above. This will not apply to next-generation clean diesels – those which are certified as meeting emissions limits in real driving conditions, known as Real Driving Emissions Step 2 (RDE2) standards (61)

  • a rise in the existing Company Car Tax diesel supplement from 3% to 4%, with effect from 6 April 2018. This will also apply only to diesel cars which do not meet the Real Driving Emissions Step 2 (RDE2) standards (60)
 

Frontstep

Senior Member
Joined
Apr 22, 2007
Messages
9,201
Reaction score
3,436
Your Mercedes
T210 320cdi
Many people I know gave up house building when social housing requirements came in, it left the market for the bigger players who want green field sites where they can.
They build small homes crammed onto estates with minimal facilities.

The problem at the heart of the so called housing crisis is uncontrolled immigration and low wages.
It is not the immigrants fault, who can blame people for wanting to come and live in this country with me !!!!!!!

At the moment world wide large volumes of capital are being funnelled into the hands of very few people and institutions.
It is not at all helpful to mention the rather specious figures of tax payed by a small minority.

We need a better distribution of money and that is certainly not about handouts to the feckless.
 

Frosty149

Senior Member
Joined
Jan 9, 2017
Messages
2,363
Reaction score
761
Location
Garden of England
Your Mercedes
W207 '63 E350 coupe amg sport
My family and I live in north Kent, house prices are above the national average (2 bed terrace, averages around £300k) new build property is pushing up that average - it’s normal for developers to push the average by +15-20%.
The suspension of stamp duty may only serve to put more upward pressure on prices.
For my kids the starting point is £25-30k deposit + a mortgage in place to the tune of approx £250k+, of course key workers, nurses, firemen, etc are all equally impacted by the unreachable purchase prices.
Until, the above scenario changes, the budget measures are little more than lip service to my kids and those earning less than around £80-90k minimum.
 

Craiglxviii

Senior Member
Joined
Sep 6, 2015
Messages
17,781
Reaction score
7,426
Location
Cambs UK
Your Mercedes
970 Panamera Turbo; W221 S500L AMG Line, C215 CL500, W251 R350L AMG Line, plus several more now gone
Many people I know gave up house building when social housing requirements came in, it left the market for the bigger players who want green field sites where they can.
They build small homes crammed onto estates with minimal facilities.

The problem at the heart of the so called housing crisis is uncontrolled immigration and low wages.
It is not the immigrants fault, who can blame people for wanting to come and live in this country with me !!!!!!!

At the moment world wide large volumes of capital are being funnelled into the hands of very few people and institutions.
It is not at all helpful to mention the rather specious figures of tax payed by a small minority.

We need a better distribution of money and that is certainly not about handouts to the feckless.

I fully agree with the better distribution of money. Give it all to me, and I'll see it's distributed fairly.......................
 

Craiglxviii

Senior Member
Joined
Sep 6, 2015
Messages
17,781
Reaction score
7,426
Location
Cambs UK
Your Mercedes
970 Panamera Turbo; W221 S500L AMG Line, C215 CL500, W251 R350L AMG Line, plus several more now gone
Many people I know gave up house building when social housing requirements came in, it left the market for the bigger players who want green field sites where they can.
They build small homes crammed onto estates with minimal facilities.

The problem at the heart of the so called housing crisis is uncontrolled immigration and low wages.
It is not the immigrants fault, who can blame people for wanting to come and live in this country with me !!!!!!!

At the moment world wide large volumes of capital are being funnelled into the hands of very few people and institutions.
It is not at all helpful to mention the rather specious figures of tax payed by a small minority.

We need a better distribution of money and that is certainly not about handouts to the feckless.

I fully agree with the better distribution of money. Give it all to me, and I'll see it's distributed fairly.......................
 

A.J.

Senior Member
Joined
May 31, 2015
Messages
21,258
Reaction score
9,581
Location
Norwich. UK
Your Mercedes
UnMerc - 2020 VW Polo 2.0t GTi Plus, DSG. Flash Red, Traditional VW GTi Tartan seat trim.
My family and I live in north Kent, house prices are above the national average (2 bed terrace, averages around £300k) new build property is pushing up that average - it’s normal for developers to push the average by +15-20%.
The suspension of stamp duty may only serve to put more upward pressure on prices.
For my kids the starting point is £25-30k deposit + a mortgage in place to the tune of approx £250k+, of course key workers, nurses, firemen, etc are all equally impacted by the unreachable purchase prices.
Until, the above scenario changes, the budget measures are little more than lip service to my kids and those earning less than around £80-90k minimum.
I don't know how that stands pro-rata but when I bought my first hose back in the early 70's it was a 4 bed end of terrace in Bedfordshire and the cost was £11,000.

After a deposit of, if I remember rightly, £1.000 it left a Mortgage of £10,000 which had to be less that 1.1/2 times your salary. And that was your salary and not a combined salary of the two of you.

I remember that being a struggle then so I do feel for the youngsters of to-day who almost invariably have to rely on the bank of Mum and Dad, inheritances or earn the big bucks themselves.
 

AIB understand your special Mercedes deserves a special insurance policy. We have a refreshing attitude to insuring high performance, modified, imported or classic and vintage cars and deal with the UK’s leading insurers. We offer discounts for length of ownership, where the vehicle is kept overnight and limiting the mileage and can also cater for those clients who need higher mileage and business use. To obtain a quotation please call the team on 02380 268351 or visit us atAIB Insurance
Top Bottom