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Coalition Budget

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The 1st coalition budget is underway. it will be a lengthy one according to commentators. but will it really deliver the needed changes to the economy, or just hit our pockets even harder?

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Both I guess. We are all going to get hit of course and depending on who and where you are, you may get a bigger whack!

I hope that the pain is tempered by a reduction in our deficit and more national financial stability as that may make it all worthwhile. But we may not find out for some years to come if it's been effective.

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BREAKING NEWS There will be a two-year pay freeze for public sector workers, says Mr Osborne, although the 1.7 million lowest paid will get a flat £250 pay rise.

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BREAKING NEWS VAT is to rise from 17.5% to 20% from 4 January next year, the chancellor announces.

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I like Harriet Harman! No - not in that way, she's an old woman, but she's good at this!

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Harriet Harman has to be the most vile woman in British politics. So full of hate.

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You say that as if it's a bad thing.

I completely disagree by the way - and I'm no labour voter. I vot Libdem because they always stand up for what they believe i.....ah, hold on a minute.

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I like Harriet Harman! No - not in that way, she's an old woman, but she's good at this!

yes, her reply to the chancellors budget speech was quite cutting and left Mr Osbourne little to retaliate with

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Apart from not raising CGT to 40% or 50%, I thought it was OK.

Particularly pleased to see the deficit being reduced to almost zero by 2015/2016

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Mervyn King, the Governor of the Bank of England, has signalled that interest rates will remain low to help offset the austerity package.

Thanks, bung the tax up and give me nothing for my savings......

Still, if it gets us out of the mess where the tax payer (including me) had to give huge sums of money to the banks to bail them out :)

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I like Harriet Harman! No - not in that way, she's an old woman, but she's good at this!

Anyone from Labour critising rises in taxation and cuts to welfare and spending is guilty of hypocrisy of the highest order.

After all, they created this monster

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Possibly, but I couldn't care less whether it's hypocritical or not; some of the things she said had a great deal of validity. From a personal point of view, I'm relatively happy with it, providing this is it.

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Makes a change to have a budget where you didn't need a translator.

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Makes a change to have a budget where you didn't need a translator.

Unlike our National Football team then.........

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I fail to see how Ms. Harman can bellyache against the VAT rise. it was widely predicted & expected, whoever got in, and NONE of the parties Chancellors, including Darling, ruled it out pre-election.

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i shall raise a glass of cider to the budget :)

all in all an exercise in trying to meet the needs of the current economic climate but keep the confidence in recovery going too. slight concern over freeze in public sector pay rises and hike in VAT as to what the knock on effect will be.

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Struggle to see how anyone can complain really - particularly anyone from within the labour party (or indeed anyone who has supported them in the last 15 years), as simple common sense dictates that if you spend more than you have, at some point you need to pay it back.

If you did it all with cuts then there'd be not a lot left at the end of it, so it needs to be done with a mix of cuts + tax, which is what has been announced today.

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Breath of fresh air - no blatant rhetoric for the cynics but seemingly plenty of common sense.

Perhaps the coalition really have found a synergy - for now. Further down the line when the economy looks like getting to a balance point will be when the divisions arise.

ffO.

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Harriet Harman has to be the most vile woman in British politics. So full of hate.

I wouldn't call Harriet Dromey that, Hazel Blears surpasses Mrs Dromey in my books.

Pensions are to be linked to earnings again next year.

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Only downside is still no action against silly lending. I guess they're depending on market forces keeping it down so one of the forces that helped create this problem is still there unattended.

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That's not really something for the budget though I wouldn't have thought - that'll be dealt with by the new regulatory body they put in place last week.

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That's not really something for the budget though I wouldn't have thought - that'll be dealt with by the new regulatory body they put in place last week.

Somehow I don't think it will be dealt with. Hopefully I'll be wrong.

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I have to say I'm pleasantly surprised by what I saw in the budget outline. There's some things that I agree with, some that I'm undecided on, and none that I strongly disagree with, which is probably the first time I could ever say that of a Budget.

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I think Labour are going to find it hard to countenace some of the Budget

They are going to find it hard to vote against......

The upgrade of the Tyne and Wear Metro, extension of the Manchester Metrolink, redevelopment of Birmingham New Street station and improvements to the rail lines to Sheffield and between Liverpool and Leeds will go ahead.

The basic state pension will be linked to earnings from April 2011, with the pension guaranteed to rise in line with earnings, prices or 2.5%, whichever is the greater.

Armed services personnel in Afghanistan will see their operational allowance doubled to £4,800 - as announced by David Cameron two weeks ago.

I think the VAT increase is there only real strong point and even then they did not say they would rule out such an increase.

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