So Boy George delivered his Big Bad Budget on Tuesday. It was anxiously anticipated, with many fearing a return of the Nasty Party Tories crushing the little man and saving the rich.
As a 20-something single (well single in the eyes of the law) with no dependents and working in the private sector it will not affect me that much. Fuel, fags and booze remain the same and cider duty has gone back down (the Boyfriend let out a cheer).
VAT will obviously make a difference, although it will be as little as the difference it made when they lowered it by 2.5% (depressingly many of the London public seemed incapable of grasping the new VAT rate - I had loads of people claiming that buying something that was previously £100 for £120 was outrageous. I did try to explain that it would now cost only £102.50, but in many cases it seemed to be to no avail...)
It is people that get pregnant, claim benefits or work within the public sector that will feel the effects the worse. Or the wealthier among us paying capital gains tax (I for one hold little sympathy for such characters).
Child benefit and public sector pay are to be frozen (some people claiming this is actually a pay cut as due to inflataion their money won't go as far). Housing allowance is to be capped (although not to a measly, unrealistic amount - £250 per week for a 1 bed flat seems fairly decent to me. Especially in Stockwell; moving down to Tooting and that will get you a palace, and going up to Wigan you could get an entire 4 bedroom family house with garden and no I kid you not).
Start-up costs for those that get pregnant will be cut, and anyone claiming disability allowance will need to reassessed.
Hopefully it will make a positive difference. We are all getting a little tired of this recession. And for all those worried about VAT going up listen closely. Chocolate covered biscuits (eg choc covered shortbread) - luxury item therefore pay VAT. Bakery items (such as cakes, flapjacks, etc) and choclate biccies with choc chips - not classed as luxury item, therefore no VAT.
So lesson learned - buy a Maryland not a penguin.
As a 20-something single (well single in the eyes of the law) with no dependents and working in the private sector it will not affect me that much. Fuel, fags and booze remain the same and cider duty has gone back down (the Boyfriend let out a cheer).
VAT will obviously make a difference, although it will be as little as the difference it made when they lowered it by 2.5% (depressingly many of the London public seemed incapable of grasping the new VAT rate - I had loads of people claiming that buying something that was previously £100 for £120 was outrageous. I did try to explain that it would now cost only £102.50, but in many cases it seemed to be to no avail...)
It is people that get pregnant, claim benefits or work within the public sector that will feel the effects the worse. Or the wealthier among us paying capital gains tax (I for one hold little sympathy for such characters).
Child benefit and public sector pay are to be frozen (some people claiming this is actually a pay cut as due to inflataion their money won't go as far). Housing allowance is to be capped (although not to a measly, unrealistic amount - £250 per week for a 1 bed flat seems fairly decent to me. Especially in Stockwell; moving down to Tooting and that will get you a palace, and going up to Wigan you could get an entire 4 bedroom family house with garden and no I kid you not).
Start-up costs for those that get pregnant will be cut, and anyone claiming disability allowance will need to reassessed.
Hopefully it will make a positive difference. We are all getting a little tired of this recession. And for all those worried about VAT going up listen closely. Chocolate covered biscuits (eg choc covered shortbread) - luxury item therefore pay VAT. Bakery items (such as cakes, flapjacks, etc) and choclate biccies with choc chips - not classed as luxury item, therefore no VAT.
So lesson learned - buy a Maryland not a penguin.
Oh, and just to settle the age-old debate, the Jaffa Cake is classed as a cake, thus proven because we do not pay VAT on said bakery item.
No comments:
Post a Comment