Budget 2007
Mar. 21st, 2007 02:42 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
ewx[Poll #951035]
My back-of-the-envelope calculation suggests that the break-even point is around £18,600: you win by about 2p on every pound you earn above that, and lose below it.
There are benefits changes at the bottom end which presumably ameliorate the doubling of 10% rate to some extent (e.g. working tax credit) but I'm afraid I don't know how those benefits work, so if you're affected by those you'll have to work it out yourself.
(no subject)
Date: 2007-03-21 03:05 pm (UTC)I like the ISA raise, I assume that applies from this April?
And the Inheritance tax threshold is a long overdue rise given real estate prices. Although I'm not generally in favour of inheritance, so I'm not sure I like that much.
Selling off student debt was rumoured, but I can't see if it is true...
(no subject)
Date: 2007-03-21 03:08 pm (UTC)(no subject)
Date: 2007-03-21 03:12 pm (UTC)(no subject)
Date: 2007-03-21 03:28 pm (UTC)(no subject)
Date: 2007-03-21 03:35 pm (UTC)(no subject)
Date: 2007-03-21 03:44 pm (UTC)I'm aware of the normal process of selling of debt in this way (I'm reading Stevenson, and Eliza has explained it all in very short words for the reader's benefit)... but this is debt that *I* owe, so I'm naturally more worried about it *grin*.
(no subject)
Date: 2007-03-21 04:18 pm (UTC)(no subject)
Date: 2007-03-21 04:36 pm (UTC)(no subject)
Date: 2007-03-21 04:28 pm (UTC)Nor is it clear what happens if the bonds default: the bondholders sometimes acquire the authority to replace the administrators of a failed asset-backed securities' collateral pool. However, that's a management issue which would probably manifest itself in the pursuit of arrears: the assets in the pool (namely: your loans) would remain the same - same interest, same repayment terms. The 'tail' of derivative securities does not wag the pool of assets, even if they do indeed turn out to be dogs.