The Autumn Statement 2023 - My Take
ฝัง
- เผยแพร่เมื่อ 28 ก.ย. 2024
- Join our coverage of the UK Autumn Statement 2023 at 7pm GMT on the 22nd of November. During this live stream, I will be examining the new tax cuts and their macroeconomic implications, especially in the context of inflation. These fiscal adjustments have the potential to alter disposable income and could influence inflationary trends so I will also be assessing the impact on both your wallet and the nation's economic health. Join the conversation and share your perspectives with us in the comments.
If you want to learn more about investing then why not become a pensioncraft.com member? To find what we offer and how you can join our friendly community click here www.pensioncra...
What Else PensionCraft Offers:
💡 Book a coaching session with Ramin so he can answer your questions in a one-to-one video call via Zoom: pensioncraft.c...
📰 Sign up for our free weekly market roundup to get news and views about what's going on in the stock market and wider economy pensioncraft.c...
📖 Understand investment in more depth with my online courses pensioncraft.c...
❓ Join PensionCraft on TH-cam and you’ll be supporting me to make more content and I will answer your questions and respond to your comments on TH-cam as a priority www.youtube.co...
🎧Check out our free weekly podcast "Many Happy Returns" on your podcast provider of choice or here many-happy-ret...
I Use The Following Data Sources To Help Me Create My Videos
(Some of these links provide new users with a special offer and may also provide me with a small commission)
✔️ Stockopedia - New users of Stockopedia get a special 25% discount on any annual plan if they use this link stk.pe/pension...
✔️ Koyfin - New users of Koyfin get 15% off when signing up through this special link koyfin.com/?vi...
✔️ Sharepad - sharescope.co.... 2nd month free for monthly subscribers & Additional free 13th month for annual subscribers
✔️ Cbonds - cbonds.com for a high quality and comprehensive source of bond market data
Where Else You Can Find Me
🌐 Website - pensioncraft.com/
📱 Twitter - / pensioncraft
👨 Facebook - / pensioncraft
🔗 LinkedIn - / pensioncraft
Take A Look At Some Of My Other Videos & Playlists
📹 Investment Strategies playlist • Investment Strategies
📹 Income Investing playlist • Income Investing
📹 Investing With Vanguard playlist • Investing with Vanguard
📹 Portfolio Building Blocks playlist • Portfolio Building Blocks
DISCLAIMER
All information is given for educational purposes and is not financial advice. Ramin does not provide recommendations and is not responsible for investment actions taken by viewers. Figures that are quoted refer to the past and past performance is not a reliable indicator of future results.
This fiscal drag is getting ridiculous. To think this may continue until 2028 is bonkers.
Not in the UK, but love to hear your thoughts and news from Britain!
Martin Lewis is reminded that some the UK blind and severely disabled have not received any of their legally entitled incomes and support payments since the 2nd June 2022. This was the result of the collapse of the DWP payments systems at the post office for the most vulnerable in our society. Inspite of warnings from parliament in January 2022 This is the biggest disaster for this government in living memory. Clearly sunak will now be excluded by law of his legal right to stand for reeliction in may 2024. The charities have called for sunaks imprisonment and resignation which the law provides for.
Martin be actuate,
This group of people have not received any cost of living payments since 2022 confirmed by the DWP.
The will not receive any cost of living payments in 2023-24 confirmed by the DWP,
Michael Gove wants a parliamentary enquiry and group compensation scheme for those effected similar to the post office counters disaster.
Kier starma wants a judicial enquiry.
Jeremy Hunt MP is clearly misleading parliament and has to resign this week as he has breached the ministerial code. Alleged genocide of the uk blind disabled children and adults
Must lead to the arrest of hunt and sunak this dying government,
👍Well done for explaining clearly and simply and practically the good news/bad news of holding existing gilts against buying them now anew 👍(My belief, though, is that the BoE will soon again revert to desperate QE gilt-buy-backs !)
The NI reductions are a drop compared to the reinstatment of index linked personal income tax allowances that was really needed. Index linked pensions but not index linked income tax free amounts, whether all those pensioners votes will really be bought and enough to rescue them seems pretty doubtfull.
Spot on
Hello, Can you please explain the difference between vwrp that im all in on for my pension and isa, against the new vhvg apart from the fee. Thankyou.
How accurate have the OBR forecasts been in the past?
I've just transferred a DC pension into another DC pension to consolidate them. It took about 5 weeks and a lot of paperwork. Standard Life dragged their heels between closing their funds and sending the payment to my other provider.
5 weeks. That’s quick compared to Vanguard. I transferred my SIPP to Freetrade and they dragged their feet for months.
You didn't mention the OBR has changed the way it does the GDP forecast and that's why it looks better than March
Useful information as always. Thanks.
So nice of you @mikehardwicke23
Why has the chancellor take up the recommended creation of severely disability isa .RING FENCED AGAINST ALL MEANSTESTING FOR BENEFITS. The reason behind this is to build financial resilience for those on the bottom of the income scale from inflation and dependency on the government incomes. Why cant the blind and severely disabled been excluded from paying into a private pension ?
This is against the law so when this will be normalised?
i heard that the budget is to run the ship aground ahead of a new captain taking charge. But that ship is us
Do you have any information on where the UKs lagging productivity actually comes from? The US hasn't seen productivity issues that the UK has, so whats the difference? Is it cultural, technical, adoption of newer methods, make up of the economy? It might be the billion dollar question as I imagine if we knew where the productivity deficit comes from governments would target those deficits.
you're doing well keeping this up Ramin, most creators burn out by now..
If we as a country are being taxed at the highest rates for many decades why isn’t debt falling?
Public services and benefits
Cos they are spending even more.
A lot of people voted for the Tories because they used to be fiscally responsible. The last few years have shown not to be the case. Liz Truss is a case in point and an absolute disgrace!
bloated government.
Because we have a high public sector workforce
You can't fix productivity with either tax cuts or hikes, or fiscar drags, whatever, I strongly believe based on everything Ive seen. Its WHERE the tax money is going that matters. If its going to SUCCESSFUL investments - infrastructure, education, technology/science - then its likely. But it seems that UK - very roughly speaking - has been spending on consumption - AND EVEN CUTTING THAT SPENDING - more than it does on investment. I think its desperate with this bunch of Tories, they dont seem to be keen on investment, instead cutting projects lately. Maybe Labour could shift this, but I have my doubts. The UK is in trouble.
Could we describe Headroom as “girl maths”. No real savings involved just “savings I will make if I do this thing I want to do anyway”
Yes I remember video on momentum value quality companies from the FTSE small cap. Do you have the link to that video pls?
Hi @petercape2331 here it is th-cam.com/video/IoUNTQ6_Wak/w-d-xo.html
Love your work
Thank you! @recca12
A most underwhelming budget - I think we will see little up tick in conservative popularity.the NI change is far outweighed by the fiscal drag of tax and interest rates . Nothing in IHT or ISA allowances.
I will be amazed if they win the next election
Great content :)
Glad you enjoyed it @johnnyworzel3741
No time stamps?
Where is the best place to to invest my money at the moment
Etfs
Love your content usually Roman but on this occasion you’ve let your left leaning politics show a little bit too much. ❤
I disagree with you, our debt has nearly trippled so what has austerity done? If we wanted to spend, we should have done it at low interest rates and upgraded our broadband, railways and public infrastructure, highways less so as we do need less reliance on cars. Now you want to spend and borrow at higher rates thus bringing our debts higher.
the forced to work for benefits will be horrendous, the job center is notorious for penalizing you for next to nothing. i can 100% see them saying "ok dave i know your 58 and have a bad back and kness but your being sent to do some labouring lifting sands bags" he refuses he gets benefits stopped, he goes and hurts himself first day, benefits stopped.
You should learn to spell then your comments may have more impact...
It's you're (you are) and not 'your'
@@kevinsyd2012bore off
Should society be expected to subsidise a persons lifestyle for ever? The US don’t seem to think so. Many countries in the EU only pay unemployment benefits for a maximum of 2 years. How do you motivate people to get out and work?
@@paulmaggs3212 easy, don't give then benefits
I wish you could be more positive about the UK, you constantly talk it down 😊
What is there to be positive about?
I don't get the point about the NI cuts helping jobs. If the cuts were to employers NI then yes it would reduce the cost of employing poeple. But these reductions are to the amount employees pay - the employer will simply pay the same but the money goes to the employee and is not deducted and sent to the tax man. So no reduction in costs for employers and so no more jobs?
Amazing update as always Ramin! VHVG is USD and not hedged? I thought we were to avoid that...
People who can’t work…. Never met one before. If they are disabled they won’t have anything to worry about with this rule change. It’s a rule to deal with households with several generations of non working families.
Many employers will already pay into your SIPP instead of their pension scheme and if you change employers regularly I would say it's always better to move pension funds from the old employer into a SIPP rather than transfer to the new employer as you have more choice of assets to hold and it's easier to keep track of everything.
Russias invasion of Ukraine didn't affect energy prices - the sanctions imposted afterwards did.... an important differentation.
Excellent video as usual. Listened to the podcast today and really good, happy to recommend it.
Thanks for listening @ianschofield8259
Lower income earners will pay more tax and sooner as they hit the cap quicker. Everyone is going to pay more income tax. Business rates are why there's store closures coming from left right and centre. Look at your local towns or city shopping centres look at all the pretty stickers hiding the massive decline in stores in the last year.
Ridiculous that it took so long for Vanguard to add the accumulating version of their own funds.
Great update, Ramin. Shame I missed the live!
Thanks @TomsPersonalFinance
Hi great video. So in 2024 at the start of the tax year. Does this now mean we'll be able to pay into 2 different stocks and shares Isa in the same tax year.?
It seems so. See 5.38 (page 90) of the Autumn Statement 2023.
Of course, the day after the Autumn Statement energy costs went up - even though prices lower on energy markets. Inflation likely to go up judging by many commentators - energy, cost of housing, wages all up. That will give an interesting debate.
Love the content and in Seth review. Constructive criticism, add time stamps
Excellent analysis, as per usual.
Much appreciated! @JLL12345
high inflation environments will presumably result in a greater disparity between the change in GDP and the change in the tax base.... i guess inflation has had a larger impacted on the tax base
I think videos would benefit from an intro and outro with music or graphics