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Wednesday, March 20, 2013

The Joy Of The 2013 Budget

In 2011, the budget calculator calculated that I would be £90.66 a year better off in the coming financial year.

In 2012, I just posted a picture of some gravy.

For this coming financial year, I will be a massive £289.00 better off.

So why do I like this budget?

1. 1p cut in beer duty and 3p rise scrapped.  Good for drinkers and landlords.
2. Fuel duty rise scrapped.  Yet again.  Good for all that drive.
3. Public sector pay increases for the already overpaid public sector will be limited to 1% in 2015/16.  Good for the underpaid private sector workers who pay their wages.
4. Lowering corporation tax further to 20%.  This will make it the most competitive rate in major countries (unless you count Ireland as major?).  Good for jobs.
5. Tax breaks for fracking.  Good if you want cheaper energy in the medium to long term (just look at the prices of gas in America)
6. Personal income tax allowance increased to £10,000.00 from next year.  Good for workers.
7. The first £2,000 taken off national insurance paid by every company.  Good for the 450,000 smallest businesses, and hence good for jobs.

It is a shame that there is no house-building announced, perhaps the measures announced in the 'help to buy' scheme will help, and I will just have to hope that there is a pre-election announcement on government house building.

You may ask why I have not given a more balanced review - this is because I expect the doom-mongers and the socialists at the BBC will be able to pick lots of holes once they have been advised by the Labour spin doctors on how to present the news over the coming days so I am just trying to add some overall balance.

Albeit I have still not quite got the reach of the BBC yet.