British ISA & Tax Cuts - But Are We Better Off?

Today, we will likely see the last budget before the next general election. Let's see what happened.

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Links from video
ISA Consultation:
Resolution Foundation:

Timestamps
00:00 - The last budget
00:14 - Brit ISA
03:11 - Child Benefit
03:59 - Non Dom
05:30 - Multiple Dwelling
06:16 - Tax Cuts
07:40 - Cost cutting

ISA Consultation:
Resolution Foundation:

[DamienTalksMoney]

We also covered this topic in today's newsletter. If you're interested in more timely updates on major events in the UK, you can sign up here:

[Alex-cwrz]

The average wage will gain just over £30 a month, yet since 2022 the average wage in real terms has dropped by almost 200 a month. Let alone that disposable income is 10, 000 pounds lower than it was in real terms than 2010

[maxodidily]

Thanks Jeremy. I can now pay 0% tax on my 0% gains.

[imbarmstrong]

Hunt: The number of ISAs are too complicated!
Also Hunt: Let’s create a 5th ISA that is a subset of the Stocks and Share’s ISA but is more limited in what goes into it.

[TheRealMerl]

Switching the light off made me burst with laughter, what a Legend! Never change Damo!

[henghistbluetooth]

If they had introduced a UK-invested SIPP instead based on the idea of giving newborns £10k to replace the state pension and investing that in the UK - that to me would make more sense than a UK ISA. A UK ISA giving an additional £5k is going to be largely of benefit to the wealthy - or at least those who can max out everything and just wanted a bit more headroom.

[Hustwick]

Other European countries may pay more tax but they get a LOT more from it (education and healthcare). We seem to be getting taxed to death yet relying on private dentists, a crumbling NHS, and schools that are stretched to the limit (population growing but no new schools being built).

[JW]

I think you summarise the sentiment of the British population very well. We, as a nation, are in a bit of a pickle with no light in sight and a reducing faith in our political system. I am glad you touch on politics even though you are a 'Finance Guru'.

[michaelbalfour]

5:08 this exactly, watching the 2 benches fight during the budget today was disgraceful. It was like a pub debate where each team has to slander the other. Truly pathetic.

[ukunknown]

Damo, this video is liquid gold! You've beautifully articulated the sentiment with the people on the ground. Well done!

[KliffHoughey]

Such a good video Damien. Clear, unbiased analysis of the budget with an insight into how politicians put themselves and their party above the constituents. I've valued a lot of your content in the past. Think this could be your best and most important piece to date. Thank you.

[KohrakGKOH]

About the politicians in this country, as an immigrant from South America I expected them to be a lot more professional and serious but the debates in the parliament are a circus. A politicians job is to solve problems in the country not make anything/anybody look good or bad but all they do is trash on each other instead. A good idea/proposal is good no matter who proposed it and it shouldn't be stopped from being implemented just because the opposite party brought it up

[locationeverywhere]

I always feel better informed for watching your videos. Thank you!

The lights are pure gold.

[krupboom]

SUPERB. Absolutely summed up the problem we have with binary politics: us good, them bad. Ideas should be judged on their merits not the colour of the political stripe on its back.

[stephenmatura]

Scrapping stamp duty on share purchases would help.

[biohack]

I wanted to catch up with the budget and for the first time I landed in your channel. I can't pinpoint it, but there is something I really like about you.

[Naylesh]

👏🏽👏🏽 Brilliant as ever! Measured, even-handed appraisal of today’s budget, yet slicing through the mendacity and hypocrisy so well. Thank you!

[cloudyskies]

Lincolnshire residential street lights go off at midnight, been in place for 2 years. They have also been changed to white LED bulbs.

[auricgoldfinger]

Great idea on the non UK tracker then UK in the new ISA. I wonder if it will be available on the usual platforms like H&L

[DBk]

Thank you Damien, looking forward to all your videos on this budget 2024... thanks so much.. your delivery and narration is so slick and gets all of the points understandably to us so well.