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Wednesday, 21 March 2012

Budget - main details

A Budget for the millions - not the millionaires is how ministers are describing today's tax and spending plans by George Osborne.

The Chancellor's raising the tax threshold to just over nine thousand pounds next April - meaning we'll all be 220 pounds better off.

But there's been criticism of the politically sensitive decision to reduce the highest rate of tax from 50 to 45 pence.

To fund the cuts - spending has been slashed elsewhere and pensioners are going to feel the pinch.


The Treasury's admitted 4-and-a-half million will be worse off because additional age-related allowances are being phased out.


The thorny issue of child benefit allowance has been reassessed.


Households with at least one person earning above 50 thousand pounds will see their payments taper off.


And in a few hours' time smokers will see the price of their cigarettes go up by 37 pence a pack.
posted by Radio Jackie News Team @ 4:17 pm  

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