You know us. Always happy for a bit of experimentation. Well, this time we've decided to cover the Budget using the same software we have used for live chats in the past. So keep an eye on this page for all the headline announcements and give us your feedback using the box that will appear at the bottom of the page at 12pm.

 http://www.fwi.co.uk/Articles/2009/04/22/115239/budget-2009-details-and-your-comments.html

Alternatively, post on this thread.

I think I will have to watch from behind the sofa its going to be scary. Cant wait for more nonsense on the "green economy".

Each year for the past twelve years Gordon has "lifted 1.5 million people out of poverty." if Alastair does the same that will mean that New Labour has lifted 18 million people out of poverty unless, of course, it is the same 1.5m and each year they lift them up and then dash them down again.

You can come out now....

Oh my word things are bad. I am considering moving behind the sofa for the next 5 years. Debt is not just high it is stratospheric, Get out of Sterling now. The greenwash was there as expected, offshore wind gets what exactly? Onshore wind gets taxed to a standstill. Lets see what other devils lurk in the detail. Only good thing is herselfs old Toyota is now worth £2000, pity we cant afford to change it.

I must take advice from Hhs. I have a twenty year old Mitsubishi 4x4 and a twelve year old Mercedes station wagon. Replacement cost for new would be about £55k. The £4k on offer from Mr Brown is, I'm afraid not going to make me dash out and exchange. What should I do?

For the energy side see http://newenergyfocus.com/do/ecco.py/view_item?listid=1&listcatid=32&listitemid=2540§ion=Legislation

. I doubt it will make any difference. The problems of offshore wind are a bit bigger than the amount given can possibly overcome. Small scale systems may be worthwhile for farms but are stalled by planning and paperwork delays. Take it from someone who actually builds the "green economy" none of this is anything other than spin.

He his-self:

For the energy side see http://newenergyfocus.com/do/ecco.py/view_item?listid=1&listcatid=32&listitemid=2540§ion=Legislation

. I doubt it will make any difference. The problems of offshore wind are a bit bigger than the amount given can possibly overcome. Small scale systems may be worthwhile for farms but are stalled by planning and paperwork delays. Take it from someone who actually builds the "green economy" none of this is anything other than spin.

Perhaps whe should stick MPs on posts as they seem to spin more than a lot of turbines well more than anything for that matter ;)

There is some really good input from advisors Mike Butler and Carlton Collister on this page now.

http://www.fwi.co.uk/Articles/2009/04/22/115239/budget-2009-details-and-your-comments.html

 Well worth reading the stuff towards the bottom.

 

Here's the NFU's full reponse:

The NFU has given an initial positive reaction to today's budget announcement by the Chancellor Alistair Darling, claiming a number of wins for NFU lobbying. 

NFU Deputy President Meurig Raymond said the NFU was pleased that the Chancellor had heeded the NFU's call to extend Agricultural Property Relief to agricultural property in other EU States, following a request from the EU Commission.

Other key successes include:

• Increases in the first-year rate of capital allowances for new investments
• The creation of a new strategic investment fund for advanced technologies including green technology and R&D
• And proposals to deliver universal broadband access by 2012 which will benefit farmers and rural inhabitants

Tenant farmers and landlords were also given a boost by the announcement of an amendment to the Agricultural Holdings Act 1986. This will address the problem of the rent review cycle restarting whenever there is a rate change in VAT.

Mr Raymond said: "This budget sees some positive moves for farmers and growers although the devil will be in the detail for some of the measures. To echo the Chancellor, agriculture can literally help ‘grow the UK economy out of recession'. Some of the measures announced today will help though it is important that agriculture and horticulture are not over-looked, especially the role they can play in renewable energy.

"However there was a sting in the tail with an announcement that an additional £75m of savings will be found within Defra bringing total cuts to the department of £381 million under the Comprehensive Spending Review.

 "I do not disagree with the principle of efficient delivery of service. But I am deeply concerned about proposals to ‘streamline' flood defence funding to the EA. This is code for possible cuts which will damage our ability to protect vital productive farmland.

"Moreover today's statement pre-empts the outcome of the ongoing consultation on cost and responsibility sharing for animal disease citing budget savings of £44m in respect of animal health."

The NFU has also expressed some concern over the lack of detail in the Chancellor's announcement of the introduction of new carbon budgets. The NFU has previously argued that the Government needs to take into account the advice of the independent Committee on Climate Change, which has specifically recommended against including agriculture in greenhouse gas targets at this stage because of lack of good data and scientific understanding for non-CO2 GHG emissions.

Bad news (unless someone knows better) is herselfs Toyota is not eligible for the scrap scheme as its a grey import [:'(]But good news for my neighbour, he has a positively ancient Escort van now worth £2000. Yes vans are eligable too, time to bin that old Landy and get a new one (shame I havent got one)

I'm not sure as the fine detail doesn't seem to be available anywhere yet, but if it was imported abnd registered here before Mar 1999, I don't see why not.

Mrs J's 1999 Ford Explorer (replaced with an 06 Jeep last December) with a bu**ered transmission will make a nice trade-in now for a new van as the old van is worth a lot more than the Explorer and under ten years anyway.

  Qote  phil clarke:  12.49    More money to help young people find a job or additional training? Bet that does not extend to any kind of new entrants scheme for young farmers, as has been so successful in France.

 

A bit of encouragement for the older generation to retire, would give a bit more space for a new entrants scheme for budding young farmers, and a bit more space for fired up new entrants.

Built 1995 and first reg in the UK 2004, so no luck for us.

I text a friend, on holiday in France,' wonderfull budget, off to pub now while I can still afford it'. He replied, 'To late, Alister Darling allrady been there and got 'p------d', how else would he believe his forecast for a turn round'

           It has been pointed out frequently, that those in the middle range with, say, five to ten year old cars do not gain from the £2000 allowance. The answer is, therefore, to buy a clapped out banger for, say, £50, and put it in with your decent car which you are trading in and claim the £2000.

I never watch the budget itself, I prefer the glorified morcels the evening news bulletins are filled with. Less likely to fall asleep

You guys have lost me, "watch the budget"??  What does that mean, is it on TV??  No matter what happens, you can't be in any deeper hock than we are here.

Kansas the Chancellor (finance minister) makes a speech setting out the future cash set up of UKplc. It was on tv yesterday, probably the worst set of figures in history. Debt is several times the US level on a like for like measure. Top tax rate (inc nat insurance) is now 65%. We don't get a penny from the car scrap scheme but we do have to pay the new fuel tax. Not a thing for renewable energy either just a kind word and a fraction of the cash needed to replace the effect of the banking crisis on project finance. Overall catastrophically bad. The one hope, a collapse in sterling.

         Yes, Kf, The Chancellor's  hour long speech was borne by those of us inclined to watch it. However, the speech itself only covers the highlights and the details remain to follow.

          With regard to the 50% tax on the High earners. I am of the opinion that any form of income tax is eventually borne by those who raise the money to pay for it. Wage rise gives price rise. I am sure that those high wage earners will adapt there income to bring their net earnings back up to or near to what it is at the moment. The same applies at all earning levels.

          The big question is: "should all those on £150000 plus be earning that amount in the first place." Many of them are working with Government affiliated quangos and provide an excellent method of extracting more money from the people of which a proportion is drawn off by the Chancellor. We will all take a part in repaying some of these wages.

Ally £150000 is not very much, lots of small business owners and oil workers round here make much more. National insurance and pension changes along with the 50% income tax rate mean 65% total tax. Many will leave taking their cash and companies with them. Renewables are crippled by red tape, oil exploration has been ignored, farming hammered by more fuel tax. Things are dire.

Bonjour,

All this talk of a penny here a percent there does seem rather petty when you look at some of the numbers for the things that count!

The size of the hole is truly staggering, how an economy that was doing well ten years ago can become one in such a bad a position is the frightening question.

Why didn't the democratic process prevent this?

Is collective decision making really this useless?

Comparing the IMF and UK Government predicted borrowing requirements, it looks like no one dare admit how bad things are or does anyone really know?

Let's hope if things go wrong so fast they can be put right quickly too. I suspect there aren't enough folk prepared to make that effort neither in UK or France.

Bon Courage,

JC.

I've just stumbled upon this website : http://www.bankofengland.co.uk .

kansasfarmer:

You guys have lost me, "watch the budget"??  What does that mean, is it on TV??  No matter what happens, you can't be in any deeper hock than we are here.

KF to give you an overall picture:

In April each year the government of the day in the form of the Chancellor of the Exchequer presents to parliament his/her finance Raising proposals for the coming year. This practice goes back to the time when the King's representative had to go to parliament to say what he wanted for the coming year.

In, I think, October each year, the Chancellor tells parliament what he plans to Spend  during the coming year.

It was originally intended that the budget should be balanced ie. Expenditure = Income = Happiness.  However, some British politicians of a leftish persuasion believe that they have discovered a new universal law, which is that expenditure can exceed income and that Utopia will result.

craman:

I've just stumbled upon this website : http://www.bankofengland.co.uk .

Ha Ha!  Good word 'stumble' when considering the UK economy!

Did you by any chance click in the link for Quantitative Easing? 

That is the quaint term devised to describe what used to be called printing more money.  The way the bank is doing this is by buying back from the market previously sold government securities.  At the same time we are borrowing more money from the market by selling new government securities. 

If there is any logic to this I'm afraid it has passed me by!