Budget days have always been busy in my life, and yesterday was no exception.
The Office for Budget Responsibility's leak changed the course of the day in many ways, but I'm not particularly complaining about that. It succeeded in making Rachel Reeves' attempts to create drama look futile, and that might be a good thing for the future. Maybe budgets in this style are even over.
The day was long.
I was pleased to note that our morning video attracted more than 50 times more traffic than Rachel Reeves' HM Treasury video did.
The early-afternoon video I recorded outside the BBC was a new departure for me. I am not alone in thinking that recording in an open space with people walking around you is not easy, especially when you are talking and recording at the same time, but it worked really well, and this is making us think that there are new opportunities available for video production that we have not previously given much thought to.
Then, once back at base, we recorded the video for this morning in a single 23-minute take, which required a lot of editing because there are many charts in it, and I'm grateful to Tom for working on it until late into the evening.
The effort, however, was not without reward.
We had more than 110,000 views on YouTube by the end of the day.
Yesterday was the best day on this blog this year, with 50,000 views.
And our new PDF download shop saw more than 500 downloads during the day, of which over 300 were for the Alternative Budget, with many who came for that reason picking up others in their basket at the same time, which is exactly what I hoped for. I am also grateful to all those who made donations during their visit. This is much appreciated.
The day began at 6:15 and ended at about 21:15, with only a few breaks on the way. But it's important to point out just what the scale of the crisis that we face as a consequence of our mainstream political parties' dedication to antisocial neoliberal economics really is, and that is what makes this effort worthwhile.
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Thanks again to a busy, busy “”Team Murphy” for its socio-economic clarity.
What might be the presented and actual reasons and/or purposes for the currently mainstream political parties continuing with an evidently society failing Neoliberal policy?
Might these national Neolberal policies, in reality, amount to governance of the U.K. by a non-accountable, significanly foreign, plutocratic, amorphous entity promoted by the “City of London”?
Yes, in a word.
Richard, do you think that all the focus on Zack Polanski (including Reeves’ frankly appalling ad hominem attack on him in her speech) is the beginning of some light appearing through the cracks? Thanks for all your analyses and videos, really helpful.
The world is getting very frightened by him and his obvious belief in MMT
I was very impressed with Zack Polanski on Radio 4’s PM programme tonight. Very quick thinking, good at using the questions to make links with other topics that the Greens know about. Big contrast with MPs last night, soundng like a football crowd but lacking a football crowd’s common understanding of what they were watching.
Your filmed summary outside the BBC was epic!!
Well bloody done Richard!
Thanks
I appreciate ALL the effort that goes into these blogs, the PDFs etc. Many things become clearer thanks to your efforts.
Don’t forget to take breaks and go birdwatching though.
The weekend is coming. i am going to need this one.
Just want to say thanks to you and the team. I have been using what I have learned/ confirmed here to comment on the blog of our local Conservative MP who seems to think it is a bad budget because it is being spent on ‘welfare’ and should be cutting taxes. Other people commenting seem to like what I say.
Every little helps-I hope.
Thanks for the coverage and I’m looking forward to hearing your interview with Ava-Santina on my lunch break.
“Yesterday was the best day on this blog this year, with 50,000 views.”
I think I remember advising you in a previous thread to post what you wanted to post when you wanted to post it. The increase in the traffic of the Funding the Future blog and YouTube channel has to some degree proved my advice correct.
Not every thread you post is for everyone but each day everyone can find a least one thread that aligns with their individual interest.
The “in-house” videos have massively improved in quality but what I have really enjoyed are the videos of the podcasts where you make a guest appearance. Keep posting the podcast appearance videos.
Thanks
Great job Richard. I am waiting with bated breath at the point at which the Guarantee Credit Pension Credits threshold, i.e. the Minimum Income Guarantee for those state pension age, reaches the Income Tax Personal Allowance threshold and effectively goes OVER it.
For 2026-27, the Minimum Income Guarantee will be £238 / week or £12376.00 for 26-27. Now, this means that when we reach 2027-28, People on Guarantee Credit Pension Credit will go over the Personal Allowance of £12570. I bet you! This is because, the Minimum Income Guarantee HAS to increase with the rates of benefits. So what do you do then? Pension Credits is not taxable. Let’s think about this.
A person/ pensioner contributing 10 years for their New State Pension (which requires 35 years NI), i.e. they have NOT contributed their 35 years. They will get a pro-rate New State Pension. They will claim Pension Credits to make up the difference to the Minimum Income Guarantee. Oh.. but, here we go, they will NOT be taxable even if OVER the Personal Tax Allowance. BUT the pensioner living on a State Pension for which they have contributed, and which will reach the same income as the pensioner now on Guarantee Credit Pension Credits, will be TAXABLE.
Go and Figure… this is coming up soon… I bet by the tax year 2027-28.
And they have no idea what to do.
Indeed, they haven’t got a clue. However, importantly, this is the point at which the Poverty Line set in Welfare Policy (i.e. the Minimum Income Guarantee under which the law says someone is at risk of poverty and needs support) meets the fixed Personal Tax Allowance until 2031 (as things stands), only one tax year away. From there onward, the momentum will grow as the Personal Tax Allowance is “left behind” that line.