The Budget

Pretty much summed it up at the end; 'The rich pay the most, the vunerable protected.'

Sounds fair to me.
 
Well, apart from VAT to 20%, not THAT bad a budget really, not as scary as was made out. I thought he was quite reasonable.
 
simulatorman said:
The tax-free personal allowance on income tax will be increased by £1,000 in April, giving 23 million people up to an extra £170 per year and taking 880,000 out of the tax system altogether, the chancellor says.
Click to expand...

I'm liking that. Means I get more money for my work, yet have to think twice before splashing out due to the VAT increase.
 
So that means every single (non essential) good in the country is going to be 2.5% more expensive.

Which is about the same as having a 2.5% pay cut.

If you GOT a 2.5% paycut, you'd be gutted. But 2.5% VAT increase? That's cool?

Hmm ..
 
Overall pretty good I think.

Very pleased at the cap in housing benefit, some claims are just stupid. I mean £104,000 a year in housing beenfit? WTF?
 
Can someone clarify the public sector pay freeze for me.

Obviously we in the past have gotten our Yearly increment rise on whatever pay-scale you are on until you reach the top of it. And then you got inflation increase also.

So is this a freeze on both increments for 2years and inflation or one of them ?
 
Key Points:

VAT to rise from 17.5% to 20% from 4 January next year
Income tax allowance to rise by £1,000
No rise in alcohol, tobacco or fuel duties
Child benefits frozen for three years; medical examination for new disabilities living allowance claimants
Link between basic state pension and earnings to be restored
Capital gains tax for higher rate tax payers to rise to 28%
Two-year pay freeze for public sector workers earning more than £21,000
Levy imposed on banks
 
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