Safe Speed Forums

The budget is the "law", so I guess this is the right place for this:

http://www.petrolprices.com/blog/fuel-p ... e-106.html

The whole thing is an expensive nonsense!

Do they Really think that I (and others) am going to rush out and buy loads of stuff just because it is 2% cheaper??

And in any case would it help! (The sort of stuff that people might buy are only going to be imported manufactured goods. even if people DO go out and spend themselves silly it will only put the nation into even deeper debt with the Chinese! The UK has the second largest trade deficit in the world after the US)

If the government really wanted to help families (and in particular, poorer ones) then it is the "fixed" and "Unavoidable" living costs that need to be cut. VED would be a good start; eliminating VAT on fuels would be another.

If the government wanted to boost the economy a better move would be to spend money on specific infrastructure projects, ones that will deliver benefit to us in the future. Borrowing loads of money against the future to give everybody a small spending advantage on flat screen TV's is nonsense and will achieve nothing (apart from huge debts in the future, but what do they care, they will all be in their cushy EUSSR retirement jobs in Brussels by the time the chickens come home to roost!)

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"The road to a police state is paved with public safety legislation"

Funny, I thought that spending on roads and other similar spending was "infrastructure". Schemes scheduled for 2010 + have been brought forward.
As for foreign-made stuff...tough. Previous govs made "production" a second choice, so the chickens are busy roosting (as we speak). Now, even if the factories restarted we couldn't afford the goods made there anyway...too expensive...and the "infrastructure" required for production no longer exists. It's one of the problems of a "high-expense" economy.
We could solve many of the problems, virtually overnight, but the cost in social terms would be immense.
The gov could free itself of over 100 billion of spending by ending national health services, and letting people make their own provision for health care (many do anyway, either personally or via company schemes)
Removal of housing benefit would save another 5-6 billion....
The list is quite large.
VAT ?
Well, complete removal of any vat levy would be illegal under EU regulations. The minimum can only be 5% anyway, and once levied it cannot be removed.
Road tax is not going to be ended and put on fuel, that means that when fuel prices rise and mileage covered goes down, so would income...
The rate of vat falling to 15% on sales also lowers car prices...and accessories....and spares...
And, since everyone seems to be waiting for the gov to help things along....

I'd like to remind you that the banks got the world into this state, not the gov.
Even an idiot would not buy dept with no value.
The banks did.
Having dumped the world into the sh**, big time, they are now being baled-out by various govs.
Ours poured money into them (banks) to enable them to lend it to biz and peeps.
They took the money, and kept it.
Oh, sorry, they're busy buying shares at the depressed prices they are now, doubtless to sell later if/when/maybe there is a recovery.
Except one bank, that refuse our govs cash and took cash from the mid east instead....oh yes, the "deal" included interest at 14% (the govs was 12%) but hey...they can still pay themselves bonuses.....
Mine has just introduce a £60 PA charge for any overdraft at all, even if not used, and various other charges....
I wonder who the *ankers vote for (missing letter "B", but you can use your own letter) ?

At the end of the day, you can always vote for someone else....but the same people will always be running the country....so most policy will remain the same.

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The world runs on oil, period. No other substance can compete when it comes to energy density, flexibility, ease of handling, ease of transportation. If oil didn’t exist we would have to invent it.”

56 years after it was decided it was needed, the Bedford Bypass is nearing completion. The last single carriageway length of it.We have the most photogenic mayor though, always being photographed doing nothing

I think we are all to blame - except me of course. I always wondered how the average income
could be smaller than I often earn, yet I've got the oldest car. I expect it was all on hire
purchase/bad debt, and we can't entirely blame banks or government for that. The buck has to
stop somewhere, and I blame the people who owe money they can't repay.

On the other hand (as well as five fingers) I blame the Chancellor for the price of petrol. It's
no use having a job if you can't afford to get to it.

Do you think the shops will be quiet this weekend as everyone waits for the VAT reduction on monday?

If you were, for example, M&S, would you be marking down socks from £2.99 to £2.92? Thought not.

A boost for British business means leaving prices the same and taking the extra 2.5% as margin.

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Malcolm W.
The views expressed in this post are personal opinions and do not represent the views of Safespeed.

Exactly, whilst also taking an extra 0.5% National Insurance from us. I don't see anything here directly benefitting the individual.

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Regulation without education merely creates more criminals.

I wonder if the pound shops will have to put up new signs calling themselves the 97.9p shop?

On a more serious note, all buisnesses that currently reclaim the VAT on petrol & diesel will now find that there fuel costs have gone up as they can now only reclaim 15% rather than 17.5% as the additional duty is not reclaimable.

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Nick

Yes, I had only figured that out today.

Also, there are various problems in changing the VAT rate relating to proforma invoices, credit notes etc. which bridge different rate periods. Very user friendly for the small businessman.

EVERYONE I have spoken to sees this VAT change as a pointless gesture which will do nothing and the PBR is actually the precursor to a tax raising situation. It's also a bit of social engineering.

Raising the personal allowance substantially or giving companies an employer's NI holiday would have been a better bet. Raising NI really is a "tax on jobs".

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Malcolm W.
The views expressed in this post are personal opinions and do not represent the views of Safespeed.

The arm of my firm which deals with private clients has had loads of calls today from customers wanting their end-of-month invoice to be dated 1st December instead...

Thats fair enough, after all 2.1% off is better than a poke in the eye with a blunt stick. But these are clients who have already made the desicion to spend their money. 2.1% will not pursuade many to make purchases that they would not otherwise have done

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Nick

I should have said that all my firm does is B2B and thus VAT is a bit irrelevant.

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Malcolm W.
The views expressed in this post are personal opinions and do not represent the views of Safespeed.

I think the VAT thing was a total waste of good money.
If you want to restart the economy start where the problem started with housing.
as the government own Nortern rock it should offer traditional mortgages up to 90%ltv at a sensible rate above the bank of england base. It should offer 10 year capping of those mortgages at 7.5%. If the other banks want any bussiness they will have to offer a better deal. It will give people a good long term affordable option for buying a home.

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Speed limit sign radio interview. TV Snap Unhappy
“It has never been the rule in this country – I hope it never will be - that suspected criminal offences must automatically be the subject of prosecution” He added that there should be a prosecution: “wherever it appears that the offence or the circumstances of its commission is or are of such a character that a prosecution in respect thereof is required in the public interest”
This approach has been endorsed by Attorney General ever since 1951. CPS Code

The reason why I think that an employer's NI holiday might have been the best choice is this:

Removal of a 12.8% levy on employing someone is the difference between making one worker in 8 redundant after Christmas and keeping them on.

I think unemployment will skyrocket in the New Year.

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Malcolm W.
The views expressed in this post are personal opinions and do not represent the views of Safespeed.

I was rather hoping they'd make the socks 2.5% warmer, and keep the price the same.

The VAT cut has already cost me money.

Orange decided to start charging £2.98+VAT if you do not pay by DD, a bit steep on a £10/month contract, so I switched to paying by DD last month. Naturally my bill this month still had the charge, just above the line "thank you for choosing to pay by direct debit". I did not have to wait long to get through on the phone, no complaint there, the nice girl on the other end told me the amount would be refunded next month, I would see it as £2.98 before the VAT was added. I pointed out that the change in VAT would mean I would be out of pocket by 7p which stumped her, I took pity on her and said that would be fine, besides getting them to correct that would probably have eaten far too much of my time.

On the subject of time, I wonder how much it is going to cost to change the rate on business systems and correct more significant versions of my refund issue?

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Driving fast is for a particular time and place, I can do it I just only do it occasionally because I am a gentleman.
- James May

The CBI estimate that just investigating and planning this VAT change will cost British industry £40M (without the implementation cost).

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Malcolm W.
The views expressed in this post are personal opinions and do not represent the views of Safespeed.

I agree with you Abercrombie, apart from the income. I have always found the average income they quote to be much higher than I ever earn, (in this country). Of course the mean average is pretty meaningless anyway, after you put a few fat cats into the equation.

We all know that what we are given in one hand will be taken back sooner or later so I don’t intend to give it free rent in my head. I think I’m bothered more by the Government’s insult to our intelligence with the smallest token carrot I've seen in a long time. With special offers on goods up to 75% the fig leaf 2.5% pales completely into insignificance.

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The views expressed in this post are personal opinions and do not necessarily represent the views of Safe Speed.
You will be branded a threat to society by going over a speed limit where it is safe to do so, and suffer the consequences of your actions in a way criminals do not, more so than someone who is a real threat to our society.

Yes, the poor souls - they'll be unable to claim as much for the fake
business expenses and those phoney "meetings" at fancy restaurants
and golf courses!

Quite.
And don't forget the "pool" car that only they drive.
Not to mention the company fuel card their wife uses.
I promise not to mention the gas/electric/phone bill paid through the company....
Nor the salary being paid in share options, which only carry a 10% tax rate....

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The world runs on oil, period. No other substance can compete when it comes to energy density, flexibility, ease of handling, ease of transportation. If oil didn’t exist we would have to invent it.”

56 years after it was decided it was needed, the Bedford Bypass is nearing completion. The last single carriageway length of it.We have the most photogenic mayor though, always being photographed doing nothing

That's just bad planning.

VAT is and always was a variable, any system should have been designed to cope with a change to the rate.