The Budget – whats in it for me?
April 22, 2009 2 Comments
I suspect that is the question most people ask when they try to analyse the effect the budget has had. What effect will it have on my household income.
Well I turn 34 tomorrow, so I don’t benefit from the money being injected to create jobs for the under 25s. It’s a shame this Governemnt still haven’t realised that small businesses create jobs not governments.
Then there is the 50% tax rate. Not the best message to send to entrepreneurs is it. Succeed and we will tax the hell out of you. Of course with NI contributions they won’t see anything like 50p in every pound at that level.
But lets move onto the less well off. Petrol up, Fags up, booze up. That isn’t going to hit the “rich” hardest, it will hit those with smaller disposable incomes.
Then savings. Was I right or was it just the over 50s who benefit from the increased ISA threshold this year? OK – so my mum who has more money, and has a bigger disposable income benefits solely down to what age she is compared to me?
Then we look at the idea of getting £2,000 for your clapped out 10 year old motor. And who will that benefit? Second hand car dealers and motor manufacturers (not many left in the UK are there).
So here I am, with a small business, no kids, trying to sell a house, still paying tax, still forking out £8,000 a year train fare, knowing that this budget hasn’t helped me, or thousands like me one bit.
Don’t work hard, don’t be an entrepreneur, don’t save, don’t create jobs… welcome to the UK under Labour!