It’s the first day of spring and along the south coast of England it’s a glorious sunny day.
(taken using Nokia 6233)
The general feeling when the sun is shining is positive but despite the beautiful weather many of us also feel a little apprehension over today’s budget.
It’s been announced that the cost of a pint of beer will rise by 1p and cider will rise by 1p per litre. Wine rises by 5p, sparkling wine sees a rise of 7p while there is to be no increase in the tax on spirits.
Cigarettes will see a rise of 11p per pack and to continue the governments drive against smoking and smoking related health costs the VAT on products that help people quit is to be cut to just 5%.
With regard to the highly publicised rise in the cost of road tax for gas guzzlers, cars that fall into the highest ‘environmental band’ (and purchased since April 2001) will see a rise of 30% to around £300 (rising to £400 next year) whereas high economy cars that fall into lower bands could expect a reduction of up to 30%.
Corporation tax will be reduced next April from 30p to 28p, £8 Billion has been allocated for the NHS, £5 billion has been allocated to Science and Development. More incentives for low carbon homes and targets for introducing biofuels into mainstream transport have also been announced.
Oh, and did I mention that from April next year basic rate tax will be reduced from 22p/£ to 20p/£?
The lowest basic rate for over 70 years!