Autumn Statement 2023: NI tax cut, min wage up, small ISA changes & more

[@pip1723]

Last chance electioneering nothing could make me vote for this government .

[@musicstolemymind]

Thank you for taking the time to produce this video - very helpful, informative and easy to digest😊

[@minimad8793]

cheers for the clarification Andy. Look forward to seeing the ISA providers rates be more competitive from April onwards.

[@ifeanyi212]

Great summary thanks!

[@baidarius]

Thanks for short and cleasr explanaition!

[@jameswyeth8223]

Great info ref class 2 and how that works with future pensions etc.

[@user-mk6eg2nz6q]

Thank you. Very clear information. 👍

[@sender5804]

typical, once I leave a job they reduce tax by 2%, would have saved me £750+ next year

[@ryanredmond5559]

Ni cut more like NHS budget cut

[@daviddawson9099]

Good run through thanks

[@samc2]

Thank you for the video explaining! 😊

[@davidellis279]

All they had to do to help everyone was to take the VAT off gas and electricity,job done but they haven’t the brains to work that out,not raising the tax threshold is nothing short of criminal,pensioners over the next few years are going to get battered, they’ll give it us with one hand and take it off us with both hands from the tax take.

[@ivor1957]

Taking the VAT off gas and electricity for domestic customers wouldn’t help much at all. If your bill is £300 a month you would save £15 each month. Hardly job done.

[@Eb3nez3r]

Doubt I'll notice much difference with the NI 2% cut thanks to dumping a lot of my salary into pension salary sacrafice :) Nice to have though as NI was getting out of control esp with the recently scrapped levy. The downside of course frozen tax thresholds/NI cut/high council tax is of no help if retired :(

[@loony457]

Hi not an expert like you … but can you state if this will mean higher interest on an fixed isa in couple weeks ? Thankyou ..

[@ikkec2674]

Useful

[@rosegreensummer]

the problem is compulsory work placements can cost more to get to - most longterm unemployed don't have cars, it's often one of the problems - so either there's no bus or train, or the cost is far higher than your benefits. For instance, i had to get two one-day bus passes with two different bus companies for £14.30 total to go to a town that is one hour and £2 by petrol car. Rural bus fares are phenomenally high here. Five minutes' drive is five quid in bus fare (return). But with 60mph narrow road, no verge just ditches and no path, multiple blind bends, i prefer not to die. By taxi 18 miles is £50 - because so few people are taking taxis. The other big problem is childcare for single parents or if their partner is working

[@alenakeegan5815]

This won't make me want to vote for them

[@SirRodhood]

Don't worry Labour Will reverse the lot and have all income taxed to high heavens

[@ivor1957]

maybe not but no way i would trust the other party - look where they left us last time they were in power

[@swampthing20]

​@@ivor1957In what way was that then?

[@ivor1957]

@@swampthing20 try the deepest recession since the Second World War for starters

[@aidandesilva]

I mean it literally followed the biggest financial crisis of our generation. It affected the globe and it hit us harder because thanks to Thatcher and beyond we were heavily reliant on real estate for our economy. @@ivor1957

[@Goady1000]

Why don't they ever say if your on minimum wage you'll save a pint of beer

[@WOOOPdoctorFROGhere]

marketing execs would tell you that everything these days is measured on "the price of a cuppa coffee". And if you're building something big, like a new hospital, or a train station, then the go-to phrase is "that's roughly the size of 12 football pitches!"

[@rosegreensummer]

nb having been longterm unemployed (which is actually just 6 months, it sounds like years), i can say 99% of people are either older people, usually in physical jobs eg construction, sometimes on industries that have died suddenly eg photo printing, or people with learning difficulties mild enough they could do any manual job but obvious, like me, so you're the last to be hired the first to be fired. No government has ever addressed these, except to retrain every elderly person to do carework at one point in the 1990s

[@Makalon102]

Tobacco tax going up and alcohol tax being frozen along with drugs like cannabis being illegal is so dumb and illogical

[@JoshHall936]

Does anyone else think it seems daft to be reducing NI by 2%? This will have minimal impact for those who need it most - surely a flat rate e.g. £450 rebate for NI will be more impactful in the current cost of living crisis. This would cost the government the same amount but have a more progressive impact

[@PeachesandCream225]

Yes but it is the Torys, they are only here to benefit the well off and the rich

[@norman7527]

Daft is an understatement. We're run by certified lunatic banksters

[@aidandesilva]

Absolutely. The people who get the most from it need it the least. They never do means tested measures for taxes like this - which given how many billions this costs, it's really a poor way of trying to balance the scales.

[@kinggeoffrey3801]

Wouldn't be surprised if it's being put in place so it will reduce people's state pension when they retire. Especially the self employed.

[@kevinsyd2012]

The government still needs to keep a lid on inflation so keeping families' disposable income tight is still key to reduce spending. A 2% tax cut via NI means that those in work do see a small increase to the money in their pockets - making work pay is still the mantra of the government

[@jackcrane6668]

Why isn't there anything about help to buy isa's ?! so annoying why has England just gone to pot

[@whyyoulidl]

The HtB ISA is no longer available to new customers, nor do many providers actively market them. If your current provider's interest rate is shockingly poor, you Can transfer out to a more favourable account. Have a search on his website or the usual places as there are a number who do this. Remember, you MUST let a new provider do the transfer paperwork and not to withdraw the £ yourself 👍

[@oipoip3]

Look into a lifetime ISA, it’s basically the same thing as the old help to buy ISA.

[@whyyoulidl]

@@oipoip3 The LISA is not available for anyone over the age of 40! For those who are eligible, there are terrible implications should you not be in a position to use your built up pot for a mortgage. Andy and Martin Lewis regularly highlight this; the government held their stance in their recent ISA update 😣

[@notwkrail]

Quick vote Conservative.

[@motiveintentionsincerity]

funny thing about wage increase, eventually finds its way to the consumer, and thus the it all begins again like a dog chasing its tail

[@ivor1957]

Probably because we don’t have money trees

[@RJD2838]

the 18s months is fat to generous 6 months is enough time to find a job

[@dixienormus7452]

So could u in theory open multiple cash ISA's and not pay tax on any interest earned?

[@samc2]

The £20,000 ISA limit is still in place, so you can only pay £20,000 spread across whatever selection of isas in a given year

[@dixienormus7452]

ah ok thank you 👍@@samc2

[@Goady1000]

Minimum wage going up everyear just means more of us are minimum wage workers. You want me to clean toilets or want me to be a keyholder and be responsible for a 1000s tasks, hmm let me think

[@LS-id5hc]

The Minimum wage became the maximum wage 🤯 for a lot of folks

[@Goady1000]

@LS-id5hc yes which is stupid as fuck

[@leojilka]

Please can you make a Spotify upload so I don't need to watch KZbin

[@stephen6262]

Probably vote Conservative now To scared to vote on labour

[@MatthewMills.]

Some are easily swayed.

[@danielriddell441]

There are other parties. Don't give cons and Labour your vote, they don't deserve it any more

[@YG-wy8fs]

some good calls made on the NI cuts, multiple ISAs (although LISA changes would have been good) and the sanctions. Tories all the way. Was never going to vote for Labour anyway!

[@lawrencer25]

I'll stick with the Tories. Labour anti Landlord and anti investor ❤

[@WOOOPdoctorFROGhere]

whereas you are anti logic and anti common sense

[@MatthewMills.]

That makes up for the rest of the country being on fire.

[@Never4Ever1978]

Why would anyone want to vote for the two main parties at this point?!

[@WOOOPdoctorFROGhere]

@@Never4Ever1978 because unlike you, we realised decades ago that it isn't about "vote who you like", the reality is "vote who you least dislike". You'd have to be enormously stupid to allow Tory scum to continue just because you might not particularly like Keir Starmer.

[@travellingtom6091]

​@@WOOOPdoctorFROGhereThis is just meaningless. Either make a salient point or don't comment at all. 😂