StoneRoad2013's photos with the keyword: budget

UK taxes pay for many things ... International comparisons are actually quite fraught with pitfalls, mainly are the situations actually comparable. For example 1) the level of defence spending and the international commitments that represents such as treaties and bases overseas. 2) the NHS in the UK is normally free at the point of use as it is paid for out of the general tax revenue. . Not my Image : fair use & public education

NATO would like it's members to spend at least 2% of their GDP [Gross {pre-tax} Domestic Product] on their Defence. This infographic / map is for estimated spending for 2023. The crisis with ru55ia invading Ukraine in February 2022 has brought this to the forefront of the political arena. In 2024 wide-spread suggestions were made that the 2% should be 2.5% or even 3% ... UK currently [2024] spends 2.3% and is debating an increase to 2.5% www.bbc.co.uk/news/articles/cp3nv7j1xkxo . Not my Image : fair use & public education

New official forecasts say the government will collect 37.1p per pound of GDP in 2028/29 - the highest level in nearly 80 years [bbc on 6th March 2024] In his Spring 2024 Budget, the UK chancellor claimed to be reducing the tax burden. Agreed, he did take the equivalent of a pound off National Insurance and but added a £1:30p extra in other taxes, so actually one is at least 30p worse off - not to mention the freezing of the personal tax allowance - so more people will be paying taxes overall, Even the pittance of a tiny private pension added to the state pension is enough for you to be liable for tax ... . Not my Image : fair use & public education

An almost catastrophic fall in the value of Sterling as the money markets reacted - badly - to Kwarteng's tax cut / budget giveaways, demonstrating a distinct lack of confidence ... . Not my Image : fair use & public education

Liz Truss' chancellor Kwarteng has made the largest tax cuts since Barber's tax cuts for the rich in 1972 - which within a year or two resulted in stupidly high inflation & bank base rates both hitting record levels. Oi - Truss ! That there budget ain't going to stimulate anything other than inflation. . Not my Image : fair use & public education