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Thread: Should the Budget be moved until after Christmas?

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    Politics.ie Member NewGoldDream's Avatar
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    Default Should the Budget be moved until after Christmas?

    Some rep from the world of retail was talking about this on the radio today. He made the point that a Budget in the run up to Christmas is bad timing, and that in the UK it's a short time into the new year. I guess no time is a good time for a Budget, but can understand why pre-Christmas is particularly troublesome for many. He said that the Minister has had representations about this and has said they would be considered.

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    Politics.ie Member ruserious's Avatar
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    You mean ruin the January sales with VAT increases
    Boycott the "Irish" Sun rag.

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    Quote Originally Posted by NewGoldDream View Post
    Some rep from the world of retail was talking about this on the radio today. He made the point that a Budget in the run up to Christmas is bad timing, and that in the UK it's a short time into the new year. I guess no time is a good time for a Budget, but can understand why pre-Christmas is particularly troublesome for many. He said that the Minister has had representations about this and has said they would be considered.
    Can see your point - but with the amount of kite flying we get these days the people are more scared in the lead-up to the budget than they are after it. It could result in depressed seasonal retail activity.

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    Politics.ie Member ruserious's Avatar
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    Boycott the "Irish" Sun rag.

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    Surely not practical? The tax year is the calendar year and tax changes have to be reflected in tax certificates for the new year.

    With the budget in early Dec its possible to get the new certs issued in time for the new tax year starting 1.1.2013.

    If the budget is in early 2013 then in Jan 2013 workers will be taxed using 2012 certificates then they will get in effect hit for back tax when the actual 2013 certificates are issued.

    of course if there are no increases in tax rates, reductions in tax bands or tax credits or increases USC or new charges with fancy names not using the word tax then it won't matter. But I don't think this will be the case!

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    Politics.ie Member harshreality's Avatar
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    Can't really see any practical reason for such a thing to happen.

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    Politics.ie Member hammer's Avatar
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    It does need to be moved all the same

    I would bring back self employed returns to September 15th from November 15th and I would have the Budget second week in October.

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    Politics.ie Member NewGoldDream's Avatar
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    Quote Originally Posted by harshreality View Post
    Can't really see any practical reason for such a thing to happen.
    I guess the practical thing, for the retail sector, is pre-Christmas sales, and the impact of belt tightening measures and how they affect consumer spending. That's why they want it changed. Yes, the Budget will happen at some stage, but to announce it weeks before the biggest spend of the year...I can see why the retail sector would want it at another time.

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    Politics.ie Member Norman Bates's Avatar
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    My understanding was that when the financial year was changed to the calendar year, the intention was that the Budget would be moved back to October. Like everything else, it never happened.

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    Politics.ie Member Spanner Island's Avatar
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    Quote Originally Posted by NewGoldDream View Post
    Some rep from the world of retail was talking about this on the radio today. He made the point that a Budget in the run up to Christmas is bad timing, and that in the UK it's a short time into the new year. I guess no time is a good time for a Budget, but can understand why pre-Christmas is particularly troublesome for many. He said that the Minister has had representations about this and has said they would be considered.
    Budgets should be in the spring when at least people have longer days to look forward to even if the weather doesn't deliver...

    As for the current just before Christmas budget boll*cks... probably the worst time of the year for budgets...

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