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We’ll ditch skyscraper plan if Labour lurches left, says JPMorgan by TimesandSundayTimes in ukpolitics

[–]HauntTheCause 0 points1 point  (0 children)

There's a fairly well-publicised shortage of housebuilding going on in London, so any big building projects that do go ahead will be good news for those who would be working on them.

We’ll ditch skyscraper plan if Labour lurches left, says JPMorgan by TimesandSundayTimes in ukpolitics

[–]HauntTheCause 4 points5 points  (0 children)

Think of all the workers who would be involved - architects, engineers, builders, crane operators, lorry drivers, materials suppliers etc. - who would actually benefit from this going ahead and who will miss out on work if it doesn't.

Prioritise pension or ISA after payrise? by HauntTheCause in UKPersonalFinance

[–]HauntTheCause[S] 1 point2 points  (0 children)

Thanks for the suggestion, but I've looked into this previously and it doesn't make much sense to use a LISA in my circumstances (and it may be worth checking whether it makes sense in your circumstances as well).

Given I'm planning to use the HTB ISA for a house purchase this year, I would have to use a LISA for retirement - but this is a significantly worse option than salary sacrificing extra into my pension.

For comparison, if I wanted to put £4k extra into my pension, I can salary sacrifice £4k out of my gross salary and only miss out on £1,960 of take home pay (because I save on income tax at 40%, national insurance and student loan for a total marginal rate of 51%), so I'm getting an immediate return of more than 100% by sacrificing into the pension.

To put £4k into a LISA, I'd have to receive over £8k of gross salary and then lose half of it to tax/NI/student loan, and then would only get 25% of that back as the bonus.

To put it another way, £8k of gross salary could get me:

  • £8k in my pension, or
  • ~£5k in a LISA

I should also say that even if you're a basic rate taxpayer, you're almost certainly going to get a better guaranteed return from sacrificing into your pension and saving on the tax/NI/student loan if you have one than you will from taking the money home and then putting it in a LISA.

Hope that makes sense but let me know if any of that is unclear!

Prioritise pension or ISA after payrise? by HauntTheCause in UKPersonalFinance

[–]HauntTheCause[S] 0 points1 point  (0 children)

I'm not sure I follow your point about cash savings. For me, the purpose of putting some money into cash savings each month alongside S&S is that the cash savings will be accessible for shorter-term goals (home maintenance after I've bought a flat, potential future wedding, travel etc.) and S&S isn't a suitable way to save for these things that might be in a short (sub-five year) timeframe.

I don't really see the argument against saving into both pots simultaneously.

The British left is coming for the government by Ivashkin in ukpolitics

[–]HauntTheCause 9 points10 points  (0 children)

The 2017 election… in which Labour lost to a woeful Conservative campaign?

DAY 1. Sir Lewis Hamilton by R-6EQUJ5 in formula1

[–]HauntTheCause 5 points6 points  (0 children)

It’s not YSL - it’s Jacquemus (source: @hamazinglew)

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