Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
WITH 49 DAYS to go until the general election, today’s Budget announcement in the UK is being seen as an important moment for the coalition government.
Important – but not all that revolutionary.
Finance Minister George Osborne has repeatedly warned that there will be “no giveaways, no gimmicks” ahead of the vote on 7 May, with the Conservatives and Labour tied neck and neck in opinion polls.
With just hours to go before he unveils his sixth Budget at 12.30pm, here are a few things you can expect to see.
1. Osborne is playing the long game
Osborne has repeatedly said that this Budget will be about nailing down a recovery plan for the British economy, appealing to voters to stick to what they know when it comes to running the country.
“This is a budget for the long term,” he told the BBC at the weekend.
The coalition government implemented severe austerity cutbacks since coming to power in May 2010. Proponents argue that it has helped to fuel a solid economic recovery for the country, while critics, including Labour leader Ed Miliband, have argued that the economy has been damaged, poor people have been badly affected, and inequality has increased.
Osborne is likely going to use today to continue his cautious macroeconomic approach, asking voters to focus on what’s gone right during the coalition’s time in power and to trust him.
2. He’s copying Ireland when it comes to looking after older voters
It’s long been a canny election ploy in this country to appeal to older voters, who turn out in higher numbers to vote on election day. It seems likely that George Osborne will be aping this today with perks for these voters, including allowing pensioners to swap their regular fixed annual payments for cash lump sums.There is also speculation that higher tax reliefs on pensions might be introduced.
3. Osborne is taking on multi-national companies
This is one that could have ramifications for Ireland. It’s likely that one of the major announcements today will be a so-called ‘Google tax’ on companies that shift their profits overseas and avoid paying tax in Britain. This is likely to be coupled with more powers for the revenue service (HMRC) to combat tax avoidance.
4. He’s not forgetting about the much-neglected parts of the country
The north of England has often been something of an afterthought for consecutive government, with high unemployment and a distinct lack of investment across many parts of the country. Osborne is expected to flesh out plans today to boost investment in transport infrastructure, particularly in northern England, in a bid to encourage business and provide better links for the people who live there.
5. He’s still focusing on the base though
The Conservatives have reportedly put together a plan which will allow some parents to leave homes worth up to £1 million (€1.3 million to their children without paying inheritance tax, according to The Guardian.
The scheme would be of most benefit to the wealthiest fifth of households. A similar scheme was blocked by the Liberal Democrats last year, but seems likely to be revived by Osborne as a crowd please for the Tory base.
Additional reporting by AFP
Definitely time the banks update their systems. This is getting way too common. The fees have gone up, start using them to provide a service!
Most of the banks systems are ok. It’s just ulster bank who’s systems are outdated but will cost millions to update
Karl
Did you not hear of the Bank of Ireland problems?
THIS! Most banks still use mainframes for a lot of their nightly transactions. They need to rebuild!
Its Ulcer bank at this stage for its customers…
Perhaps if they try to FIX the problem rather than FOX it
as in your headline,the customers will be happier!
Thanks for pointing that out :) I’ve FIXED it now.
You FOX Michelle and your fixing !
Continually having computer problems, yet continually increasing fees. Left them a year ago, terrible bank to deal with.
Couldn’t have had a different experience with them myseflf. There was an issue about a year ago that was an inconvenience but I’ve never had another issue with them and always found their staff so helpful with everything. Mobile banking is down at the moment but you can still log on through normal means as well as using the full website through your mobile device. Very minor inconvenience unless you want to be offended by it.
Never took offence to them, just got fed up paying through the nose for a service they couldn’t supply. You obviously weren’t affected when their computer systems went belly up for weeks, direct debits were being taken out twice, wages not going in etc. a joke of a bank.
Yes I lost track of how much was in my account for a few days but it got sorted and they reimbursed me for two transactions that hadn’t happened! I pay no fees at all for my banking thankfully and they have branches open on a Saturday! Like I said some people go out of their way to be upset!
Ulster bank is one of the better banks surprisingly enough. They were the last to raise their fees and they’ve a good rep for business banking.
Had to leave AIB after 12 years with them – so rude and their fees were rocketing.
Believe me Ted I haven’t got time to go out of my way and get upset with a bank. Way to busy to be checking accounts all the time in case they’ve made more mistakes. That’s why they lost me and hundreds of other customers over the last year or two. I guess some people put up with bad service and some don’t. Like I said, a joke of a bank.
Thank god I’m not one of their 600 customers
Well I am a customer and I’m praying to Joe Pesci that they get it sorted soon
Call those 2 Canadian kids to sort it out.
I remember the good old days when banks used to at least pretend that they were looking after their customers,
when mobile banking was a lorry with a teller in the back.
I’m off to the credit union thanks.
No fee internet banking, direct debit, cash card facilities
run by volunteers who don’t cost us €100 billion every 20 years or so.
Feckin’ shower of bankers…!
HACKERS !
All those screenshots are from UK customers (Ulster bank in NI, RBS in UK).
Is there any proof of ROI customers affected?
NI is part of the UK. RBS in GB.
Meant to say that!
Thank god I left them after the last major F up. Their I.T section is absolutely useless
Working now – first thing I notice is the direct debits have been taken. Back to normal, or what passes for it in a nationalised bank.
Ulster Bank couldn’t find their arse with both hands and a map !
Ulster Bank still use pen and paper. I rang today told by them my loan was with collections because it was in arrears. I said it couldn’t be and it’s most likely in credit. On hold for 36 mins while some eejit worked it out manually. At the end and after telling me 3 iMessage that I was in arrears the first eejit tells me I’m in credit and my account has been removed from arrears. They are a joke of a bank and shouldn’t even be in business.
Can they please change their debit cards. Such bad quality.
have your say