Mar 15, 2023
What the Budget means for you and your money
Policies directed at getting people into work, and keeping them there, are central to the Budget - leading to key changes on childcare and pensions. Prepayment meter customers will pay the same rate, but those who pay quarterly by cash or cheque will still pay more. The government's independent forecaster, the Office for Budget Responsibility, now expects the inflation rate - which charts the rising cost of living - to drop to 2.9% by the end of the year, having peaked at over 11%. The target set for inflation is 2%. Prices will still rise in the shops, but not as fast as they have been. You start to pay income tax on annual earnings of more than £12,570, charged at 20%. You then pay tax of 40% on earnings over £50,270 a year, although the bands are different in Scotland. A host of wage disputes in the public sector - such as for teachers and rail workers - are continuing as workers feel their pay has failed to match the rising cost of living.
Related companies
Make a complaint about Budget by viewing their customer service contacts.
