PensionCraft 
This is a budget of firsts. The first budget of the Labour government in 14 years, the first ever budget by a woman and the first budget to use new fiscal rules. Hear what it means for you in simple terms in our Live Stream at 7pm UK time on the 30th of October 2024.
đ¸If you want to learn more about investing become a pensioncraft.com member. To find what we offer and how you can join our friendly community click here https://www.pensioncraft.com/investor-education/membership/
đ§Check out our free weekly podcast “Many Happy Returns” on your podcast provider of choice or here https://many-happy-returns.captivate.fm/listen also now on YouTube! @ManyHappyReturnsPodcast
What Else PensionCraft Offers:
đĄ Book a coaching session with Ramin so he can answer your questions in a one-to-one video call via Zoom: https://pensioncraft.com/power-hour/
đ° 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 https://pensioncraft.com/market-roundup/
đ Understand investment in more depth with my online courses https://pensioncraft.com/courses-we-offer/
â Join PensionCraft on YouTube and youâll be supporting me to make more content and I will answer your questions and respond to your comments on YouTube as a priority https://www.youtube.com/pensioncraft/join
I Use The Following Data Sources To Help Me Create My Videos
(These links provide new users with a special offer and may also provide me with a small commission)
âī¸ Stockopedia – New users of Stockopedia get a special 25% discount on any annual plan if they use this link https://stk.pe/pensioncraft
âī¸ Sharepad – https://sharescope.co.uk/pensioncraftsp 2nd month free for monthly subscribers & Additional free 13th month for annual subscribers
âī¸Cbonds – provides you with a high quality and comprehensive source of bond market data and up to 50% off their private investorsâ dedicated plans when you use this link https://bit.ly/47nekIM
Where Else You Can Find Me
đ Website – https://pensioncraft.com/
đą Twitter – https://twitter.com/PensionCraft
đ¨ Facebook – https://www.facebook.com/pensioncraft/
đ LinkedIn – https://www.linkedin.com/company/pensioncraft
00:00 Introduction and Overview
00:31 Initial Reactions to the Budget
02:31 Tax Changes and Their Implications
10:41 Market Reactions and Economic Impact
17:39 Inflation and Fiscal Policies
20:21 Debt Measures and Fiscal Headroom
29:25 Q&A and Closing Remarks
33:57 Pension System Stability
34:42 Inheritance and Economic Impact
35:52 Employer National Insurance Contributions
38:01 NHS and Economic Models
40:08 Public vs. Private Sector Employment
41:04 Small Cap Portfolio Performance
43:23 Gold in Investment Portfolios
46:41 Pension Inheritance Tax Changes
54:00 Long-Dated Gilts and Market Analysis
01:03:26 Final Thoughts and Community Engagement
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.
If you need financial advice, Unbiased, the UKâs leading online directory of financial advisers, can connect you to an Independent financial advisor for free. Additionally, if you use our link to register with Unbiased, your first consultation with a financial adviser is free. https://imp.i337888.net/c/4012142/1936845/11746 (This link provides you with a special offer and we will also earn a small commission)
source
About The Author
You have a lovely way of making difficult and often felt to be quite boring concepts and principles, really interesting. Is Teddy learning independence? Warm congratulations on your influencer award.
Re CGT rates, is this purely based on your taxable âworkingâ income, or does the value of gained asset get included too?
Say for example I am a lower rate tax payer, but have a gain of ÂŖ150k on a second property – would I pay the lower 18% as Iâm a lower rate tax payer or the higher 24%?
The thought that Rachel Reeves went into politics to improve school infrastructure, honestly is for the birds.
Is CGT on stocks applied net or gross? Can you bundle gains and losses together in one year?
How come is no-one talking about the fact that within the next 2 years anyone receiving the New State Pension (confirmed at ÂŖ12,016 next year) will be paying basic rate tax (threshold ÂŖ12,570 until 2028) on their state pension?
Gold performed badly between 1975 to 1995 during a period of high inflation.
Can you recommend any finfluencers?
Why do u pronounce your name Romin, as in Robin, rather than the way it's spelled, rAmin ?
Word of the day – Persnuffle. Oh and congratulations on your award.
I'm making that statistician's book my next Audible purchase. I love anyone with something relevant to say.
I can see an increase in assisted dying in the next two years if that legislation goes through to avoid IHT bills.
Best analysis of the budget. I imagine youâll be invited onto the BBC to provide analysis one day.
One thing Iâve not heard anyone talk about is the reduction in repayment of national debt as a result of falling interest rates over time. I think a 50bp fall would give c. ÂŖ12 billion pa. Any opinion?
The agricultural changes are big if your a family farm
You made it sound as if selling a second home incurs a stamp duty charge!
Torsten Bell's book "Great Britain?" includes a good outline of a more appropriate way to organise public accounting and debt measures. Made sense. Some of his other stuff a little socialist but this area made sense.
Sadly the Labour Chancellor doesn't understand that the poorest in society are being robbed by the employer NI tax increases.
Workers in the agency labour supply industry are paid an assignment rate that incorporates employer's NI!!! It is processed by third party payroll companies. Both Agency and Payroll companies have been colluding for many years now over paying the worker an assignment rate where the worker foots the employer's and the employee's national insurance tax.
This is blindness by the Labour Party. The result is a tax on the poorest.
That is first budget put brake on business and slow dawn
Dear Ramin
Evade CGT by selling Pensioncraft to Teddy. Anyone can see that he has a real nose for business.
Also, his Biltong treats are tax deductible, and you can still work for him behind the scenes.
Hi Ramin. I like you hold Tritax big box, since the budget the price has fallen, Would this be simply down to the fact that it is expected that savings interest rates are likely to stay higher for longer therefore making the dividend from the Reit less attractive or maybe from some other implementation of the budget?
"Gone in harder" More tax?
"Business friendly government" what planet are you on?
it's never over. anything could happen down the line.
When a person buys stock or loans money (buys guilts or equivalent) the capital IS being used to finance investment.
So one does not need to spend their savings on widgets (or services) to make "better" use of the capital.
I doubt whether the OBR model has taken account of self employed Boomers at or near retirement age who may be nudged into retirement by this budget
I am guessing you either have a small pension (post divorce) or no children to pass it on to. In any case you do sound rather left wing on this issue.
Seems to be a continual transfer of wealth from every generation to the Baby Boomer generation, this never seems to change.
for gods sake reduce the numnber of adverts…1 or 2 is enough but this had about 10….
Bringing pensions into IT could end up with triple taxation. 40% IT, 40% loss of tax free IT allowance if that takes you over the 2m threshold then 40% tax by your inheritors đą
Prices up, staff laid off. Thanks Rachel!
The government is a greedy piglet that suckles on a taxpayerâs teat until they have sore, chapped nipples.
Just starting to catch up on all the videos after the summer break. đ
Lovely update thank you very much
These tax changes are all part of the globalist agenda… destroy small businesses, destroy the middle class, become reliant on the state, bring in the social credit system like China, introduce Universal Basic Income, and introduce CBDCs (programmable money)…
Capital Gain Tax; seems a bit odd that basic rate taxpayers were given a higher increase (8%) than higher rate taxpayers (only 4%) since I doubt if they have 'broader shoulders'.
Any idea why?
Best I can come up with is that higher rate payers have more freedom to take tax avoiding action like delaying a CGT triggering sale, but fully admit that it sounds very unconvincing.
Ramin where can we put our money to save ourselves from the impending GBP crash. Gilts are going ballistic.
GBP is totally screwed and is going on a long term death spiral.
Isn't most money in pension funds simply used to purchase 2nd hand securities, meaning no additional money is being provided for the use of the companies who issued the securities – is it really correct to call it 'investing'?
I think it is disingenuous for them to claim that it is a budget for growth. It likely won't work and they will then have to tax people even more.
And you have won an award. Should have gone in harderâĻ. đ. the day after the pound is down 1 1/2% the bond market level is now the same the Liz Truss fiasco..
Labourâs policy – if you make it, weâll take it.
Thankful I left the U.K. and have become non-resident so none of this concerns me, but, I feel for friends and family.
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support Godâs work and the church.
The problem is that there is too much government borrowing and too much debt . I do not trust the government on anything they say or promise. If there is one learning of the last year then it is how dishonest our leaders really are
I fear this budget – though good in parts ( NHS SCHOOLS) is going to do more harm than good
You say about the amount of money that we (77 Yr old) hang on to when it could be spent. My hanging on is informed by my M In L RIP who spent last 3 years in care at ÂŖn00 a week. If the care system were sorted out payed for over a life time then we wouldn't be so insecure in our later years. I started paying tax at 15 working 12 weeks a year on a farm and at that age I thought that care would be sorted for me (as much as I thought about anything long term)
The extra funding for public services and the nhs is very welcome.
What about the changes to LCWRA work capability assessment??