Budget 2020: expectation ruins the event

I had the rare opportunity this weekend to read the weekend papers and to have a look online at what many people have been saying about the upcoming Budget. Funnily enough, as much as I love to gaze into my crystal ball and to speculate; this year I’m going to take a very different attitude:

Wait and then Read the damn thing in full!

I think that human nature is to talk incessently about what you think about something but not to actually bother taking the time to look into things in depth. Think of something fun like Global Warming – people will read what someone they agree with says and not read any actual proper reports. And when was the last time you saw someone watch a football match with a copy of the FA Rule Book in hand? Willful ignorance is what it is.

Last week Scotland had its Budget and there were no massive surprises (except for poor Derek MacKay who lost his job after making poor choices – although throwing good money after bad isn’t seen to be as bad). But the devil is in the detail and the details need to be read, not just the headlines.

Away from the distracting headlines, the budget is actually worth reading for its own sake. It gives you an idea of what the Scottish government wants to do.

Similarly for the UK Budget this March 11th – I’ll be reading the document when it comes out from cover to cover (albeit speed reading in places) and not paying any attention to the click bait headlines that you’ll see in every paper which are there to evoke emotion and not to provide any insight, education or enlightenment.

So for the next month, when headlines flash passed my eyes of changes to tax, ISAs, Pensions, Mansion tax, vehicle excise duty, HS2 (or 3/4/5???), the NHS – I’ll just ignore them all. Half the stories are put out as feelers for how voters feel, half are just speculation, hearsay or people with their wires crossed, half are made up for a laugh or to provoke rage or fear and the rest are there just as a form of disinformation.

Of course it’s very important to understand what the implications of the Budget are for your and your finances. But you won’t find out about the implications until it’s been released – anything before then is just like a random Daily Mail headline – entertaining if you know that you shouldn’t take it seriously or likely to cause a rage attack it you don’t!

daily mail

This image came from the great parody site Daily Mail front page generator – for those who don’t know the Daily Mail it’s a terrible paper for terrible people.

Happy reading come March 10th!

4 comments

  1. I think I can have hours of fun with that Daily Mail front page generator, haha!

    I check out the Daily Mail every day, not for news but to see what the masses are getting hysterical over.

    I too will try to read the actual Budget come March – too easy to get caught up in the headlines.

    Liked by 1 person

  2. I’ve just tried the Daily Mail front page generator and got ‘Are the Poles Molesting the Countryside’!

    I must admit I have been indulging in budget speculation with This is Money Podcast discussion of potential changes in pensions tax relief – I’ll go sit on the naughty step!

    Liked by 1 person

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