Will the Budget cut taxes and get rid of these traps?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 23 February 2024

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

With the Budget tipped to be the Chancellor’s last roll of the dice before a General Election, expectations over tax cuts are growing.

But what taxes could Jeremy Hunt choose to cut and why – and is there hope that he will sort out the tax mess that Britain has got stuck in.

The higher income child benefit charge creates marginal tax rates above 50 per cent, meanwhile the removal of the personal allowance bakes in a 60 per cent income tax rate between £100,000 and £125,140.

Should these tax traps and painfully high stamp duty be removed? On this week’s podcast Simon Lambert argues that Mr Hunt needs to have a clear out, chuck a load of stuff in the stupid tax box and bin it.

Simon, Georgie Frost and Lee Boyce look ahead to what could be in the Budget and what it would mean for you.

Also, on this week’s episode, energy bills are due to fall as the price cap is cut but how much will this save you?

It’s not just tax catching people out, student loans are also proving difficult to shift as interest mounts up due to high inflation. Does the student finance system need a sort out too? And what is Simon’s triple lock for student loans plan?

And finally, don’t get spear phished or tap jacked, Lee talks us through the new scams you need to know about.

Transcript

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0:00.0	Welcome to This Is Money podcast, sponsored by Charles Stanley Direct.
0:05.7	I'm Georgie Prost and joining me and Simon Lambert today is Lee Boyce.
0:10.0	And coming up, the Chancellor's last throw of the financial dice before the election,
0:15.1	but what will be in the budget next month?
0:17.5	We're hoping for tax cuts, but will we get them?
0:20.3	The energy price cap will drop again in
0:22.1	April. Is it time to fix? Simon asks, have millions of young people been missold student loans?
0:28.7	We hear from one reader whose debt has increased 10 grand in just six years since graduating.
0:35.4	And don't get spearfished or tap jacked. Lee tells you the five new
0:40.3	scams you need to know about. Don't forget you stop. Stay with all the latest breaking
0:44.8	money news, just go to this ismoney.co.uk or download the app.
0:50.3	Charles Stan Lee Direct. Investing made easy. Cost effective and flexible. Using our website or app.
1:02.8	With our comprehensive range of investments, trade in shares, funds, investment trusts and
1:09.2	ETFs, there's a range to suit all levels of investor.
1:12.6	Choose your own or consider our ready-made solutions.
1:16.6	Charles Stanley Direct.
1:18.6	Sign up now.
1:19.6	Investment involves risk.
1:20.6	But first, on the 6th of March, Chancellor Jeremy Hunt will unveil his spring budget.
1:25.6	It will likely be the government's last chance to woo
1:29.1	the great British public before a general election. But what tasty tax morsels will be thrown
1:35.4	in our direction, if any. Hunter's already announced several tax reductions in last year's
	...

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