A non-event budget…

Well, our “beloved” chancellor has given the budget – and given that the election is a matter of weeks away (the date has yet to be confirmed, but most commentators are fairly sure that it will be May 6th) the budget was full of non- surprises – barring one.

I’ve taken the main points (i.e. the bits that affect me and my family) from the BBC website, and put my own comments below.

Fuel, Cigarettes & Alcohol Duties

3p fuel duty rise to be phased in, in three stages between April and January 2011 rather than in one go next month.

This kicks in on April 1st (rather appropriate), with further rises planned for October 1st and January 2011. I get the impression that the government panicked at the thought of 32 million fuming drivers voting in the election…

Cider duty to rise by 10% above inflation from midnight on Sunday.
Wine, beer and spirit duties to rise by 2% from midnight on Sunday and further 2% rise planned for two years from 2013.

Tobacco duty up 1% from midnight on Sunday and by 2% in real terms each year until 2014

As if this government hasn’t done enough to kill the pubs already. This will be almost the final nail in the coffin of the local pub. I guess that they (the government) are trying to hit the drinkers as the smokers are giving up.


Help for Business

£385m to maintain road network

Start repairing some bloody pot-holes! I thought that was what my road theft (sorry – road fund) licence was for!

Other Taxes & Allowances:

Limits on Individual Savings Accounts to rise in line with inflation
No changes to VAT or income tax planned
Inheritance tax threshold frozen for four years

Hmmm – talk about stealing the oppostion’s thunder. The Tories have been talking about inheritance tax for the past three years or so… The VAT has been left alone, because it caused more trouble than it was really worth and didn’t bring in as much money as was anticipated. Individual Savings Accounts (ISAs) at the moment are almost worthless, as the bank rate sucks if you’re a saver (it’s 0.5%) – good if you have a mortgage though…

Ah well, guess I should call this quits – I’m supposed to be w*rking, not blogging.

Back later, if I get the chance.


Karen

Now some things you hold on to - and some you just let go
Seems like the ones that you can't have
Are the ones that you want most