Budget 2021: Eight reasons why Rishi Sunak's speech affects you and your finances

There is plenty of evidence of prices going up in the shops and on bills, with the cost of living expected to rise by 4% over the next year according to official forecasters. About 60% of the price you pay for fuel is tax - a mixture of fuel duty and VAT.However, there were no measures to assist householders with rising domestic gas and electricity bills. National Living Wage for those aged 23 and over: From £8.91 to £9.50 an hour. National Minimum Wage for those aged 21-22: From £8.36 to £9.18.National Minimum Wage for 18 to 20-year-olds: From £6.56 to £6.83.National Minimum Wage for under-18s: From £4.62 to £4.81.The Apprentice Rate: From £4.30 to £4.81.Public sector staff will also receive a pay rise in April when the freeze on wages in place during the pandemic is lifted. Drinking is getting more expensive, with pub chains warning that higher wages and energy costs will mean much higher prices for a pint.

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