to ask how you will be affected by the budget announcements?

[manicinsomniac]

Sorry if there's another thread about this, I can only see lots of speculative ones.

Now that it's announced ... I admit I'm struggling to get my head around it. I don't think it's as bad as I thought? I don't think it can be that good though? I don't think there's a single thing in it that affects me. I'm not sure about any of that though because I find it all quite confusing!

So, ordinary people from ordinary families/households - how are you going to be affected, if at all?

There are several calculators that I've put figures in, apparently we'll be about 200 a year better off,. (two children in nursery, myself and DH work full time)

However, the calculator automatically comes out that we currently don't receive tax credits, but we do. So actually, not got a clue!

We are yet to find out exactly how it will effect us as the calculators don't seem to include our situation. Waiting for our accountant. I hope it can be offset somehow.

Although We won't be on the bread line and I don't want to jump the gun but I will be livid if dh has to pay more tax. Why shouldn't small business owners who have ambition and the responsibility of paying other people's wages pay less tax? I think they should. He should not be penalised for making his company profitable. Dh has all the pressure and responsibility of having his own business, every client he gains or looses could have an effect on his monthly earnings. People who are not self employed do not have this responsibility, they can pretty much rely on the fact that they will be paid the Same amount every month no matter what. They don't have the pressure of being a few steps away from make or break. Dh has worked for 15 years to get into a position where the business is making a great profit, where they have a buffer if things go quiet for a few months. Where they have slowly employed more and more people and have grown And expanded. It has not been an easy journey.

As a family dh and I are only just in a position where he earns a good wage, we have spare money for holidays, house modifications and to treat our dcs. Where we know how much we will be paid every month. Now it is potentially being taken away from us after all this time. How is that fair? How is that rewarding hard work and ambition?

I will be livid.

Before anyone asks, IMO big businesses who make huge profits and exploit employees and avoid tax should pay more. They should be taxed more and loopholes closed but not small business which are Doing well. The economy and country needs these small businesses

Exactly ego and hamiltoes. My ex pays minimum £240 per month when he earnt £35k. I earn about a third of that and pay all childcare so I can work.

On top of that ex decided to quit his job cos he didn't like it. No penalties for him.

I have to spend a fortune getting divorced to try and fix mess he's left me in. No help for legal stuff. He's in the fmh and isn't paying the mortgage either.

In midst of all this Ive got a good job with potential for future. Working v hard, studying too and looking after 3 year old alone. And Gideon is making it even harder.

Fine but get my ex to pick up the tab!

According to the IFS, 3 million of the poorest families will be £1000 worse off.
Oh, but hang on, how many of you said that the tories were looking after the poor...

I don't think anyone has ever said the bastard Tory party would help the poor have they. They are known for shafting the poor and looking after the rich.

cleo if he takes more than £5k per year in dividends it's going to mean an increase in tax.

cleo, how do you feel about the affects of this budget on the 3 million poorest families who will be £1000 worse off?

I don't think anyone has ever said the bastard Tory party would help the poor have they. They are known for shafting the poor and looking after the rich.
There really are quite a few threads where the Tories have tried to convince us that they really are the party for the poor and are looking after the best interests of said folk. I kid you not.

Yes bulldog/ cleo my dh reckons he'll actually be 3k a year worse off and he's a basic rate tax payer (he generally takes dividends up to that level). It isn't what the calculator said yesterday though. There is a 1% drop in corporation tax, then 5k tax free and then 7.5% tax. The higher rate bracket will be going up though which will help at the margins.

As has been said we're all in it together

There was a nursery owner on the radio this lunchtime, basically saying she couldn't afford to pay staff this new living wage as the funding from the government for the 15 free hours isn't enough to make it work. Most nursery workers are on minimum wage or fairly close to it. My husband is on the committee of our preschool and they will almost certainly fold unless the hourly funded rate per child is increased to cover the increase in wages. Budgets are tight and there is no spare money, and staff ratios are tightly controlled. I have this feeling that this free childcare hasn't been thought through.

We are going to be around £90 better off, and in no need of it, OH and I have agreed that money is going to go to an appropriate charity.

We'll be better off.
I can't understand how this useless government can justify having such a ridiculously inflated payrise for themselves and then screw the hard working people of this country.
These money grabbing bastard politicians make me sick.

Is some of this a question of some low earning people being expected to increase their working hours though from, say, 20 to 25. That's a genuine question and isn't it better that people earn the shortfall by working for it, rather than claiming it in benefits. Accept that view might be naive and prepared to read arguments against it.

Beaufort . .but it's not necessarily up to the worker is it? I'm single mum (not through choice) and applied for my fixed term part time job before husband told me he wanted out. I can't work more hours or unsociable hours in a second job as either couldn't get childcare or it would wipe out what I earn.

Had I had a crystal ball I'd have applied for more hours but I didn't know then this would happen. I loose a grand. Will do extra if I can but won't be able to make I shortfall up in the short term.

My child's father won't be affected .How is that right ?

Tories don't like women much imo.

tobysmum the corp tax rate drop is the year after this kicks in.

Beaufort.... I wish it was that simple for us, but it isn't. We are going to be losing a lot. I already work full time (put in over 40 hours a week and lose a lot more time travelling with work too).

My DH does not work, but that is because we cannot find a childcare provision for disabled DD.

Finding more work to fit around our situation, that actually results in us not being even worse off than we will be, is near on impossible. We have been trying for so long, and these changes have just made everything harder.

With a joint income of not far off £100k, we'll be £221 better off according to the bbc calculator. I'd much prefer that money (and more) to go to someone who needed it.

its all very complicated bulldog, we're ok though anyway..... unlike many others. I just wonder what it will take before people lose patience at benefits for pensioners, as they seem to be the ones resolutely unaffected by all of this. My parents live in a 4 bed house and get fuel allowance, in laws spend the winter in Barbados so do they .... Beggars belief but I'll be flamed for my agism in a minute I'm sure!

I understand what the two previous posters have said, but is there nothing you can do as families. For example, taking in ironing, babysitting when the other partner is home, etc. I am close to London and it's so hard to get reliable services here I'm always a bit dumbfounded.

With a joint income of not far off £100k, we'll be £221 better off according to the bbc calculator. I'd much prefer that money (and more) to go to someone who needed it.

The give it to someone who needs it. Talk is good, actions are better.

Beaufort ... Babysitting etc out of the question for us(dd's needs). Having played with the figures a lot (old system and new) and looked at the realistic amount of odd work available in our area (have looked at cleaning, gardening, odd jobs, deliveries, ironing, lots of fields), we can't bring in enough to not end up worse off.

We need to bring in a very substantial amount more (a lot over a full time nmw salary) to break even as we are now when the new regs come in. And still give care to DD.

I know some people may have more opportunities than us, however there are a lot of people in similar situations to ours, stuck between a rock and a hard place.

Beau that would be classed as income. It would be taken into account in the calculations and wouldn't really have any impact on their finances. To do it cash in hand would be benefit fraud.

And to put "break even" in context... We are far from rolling in money. We just about manage, but that is it.