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UK Budget 2018: Highlights

Let's talk budget!

29th Oct was Budget Day, aka that time of year when the Chancellor of the Exchequer (the government's moneyperson-in-chief, currently Philip Hammond) gives a big speech to Parliament laying out all their spending plans for the year.

 

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Here's the speech highlights:

According to Phil, austerity is "coming to an end". (Bit awks, cos PM Theresa May said it was already "over"). That should mean no more big cuts to public spending.

The NHS will get an extra £20.5 billion over the next 5 years. The gov is also going to spend £2 billion a year more on mental health services.

The personal allowance - how much of your income you get tax free - is going up by £700 to to £12,500 next April.

Big technology companies like Facebook, Amazon and Google are going to have to pay a new digital service tax from 2020. (We don't know how much the tax will be yet).

Anyone using a mortgage to buy a home under £500,000 won't have to pay stamp duty (a tax).

The income threshold at which you are no longer eligible for Universal Credit (the welfare scheme that gives money to people on low incomes) is being raised to help the poorest.

The government is going to spend £30 billion fixing potholes and doing other road repairs.

There's going to be a new 50p coin to celebrate Brexit. #Priorities

 

What do you think of Philip Hammond's budget? Let us know on Twitter: #LetsTalkBudget

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  • RW

    Your right to a degree. You mentioned “the wandering Jew”.

    I elaborate that the Jewish people, historically have tended to migrate almost exclusively to locations that are economically and culturally vibrant already. I would speculate that Jews have thrived in these places and have often improved the bounds of their economies and knowledge base.

    You can also ask; how many massive entertainment conglomerates, Nobel winners or billionaires has Isreal developed? If Jews are so capable, why isn’t Tel Aviv the Rome of our time?

    Jews are successful because they value education, maintain a strong social cohesive, they actively monitor and have a good sense for Zeitgeist wherever they are and they carefully choose the places they settle and congregate themselves heavily in these choice locations.

    But most importantly (haulocaust increased the importance of this aspect), they actually designed their culture for success. They not only attend Harvard, they use what they learned to better the group as a whole. With as much, they studied intricate networking systems, adapted to it and in many cases improved upon them. (See how Japan acquired Aegis warships and made them better).

    Of course there is nothing wrong with any of this. It’s when you elaborately gain disproportionate power in any society where you would stand out, you must take care when attempting to make a society better (Civil Rights movement) and rewriting that society all together (mass immigration). Ask blacks in China, Mexico, Philippines or India how much opportunity they have? Go to businesses owned by their American diaspora and see how many blacks they hire. Go to Silicon Valley and see how many East or South Asian tech workers wish they could work with more black people. California might work as a state, but as a nation, I think your rolling the nuclear dice here. I hope we can succeed as a tolerant pluralistic superpower but at this stage in human societal development, it’s a pipe dream.

    And if Jews really are the icon for success, they would see that fundamental human successes happen over generations. Just look at the rest of the planet? Are we ready?