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?

Due to the Tax Credits cut I will be worse off by about £100 per month!

I have no idea where I'm supposed to find £100 saving??

Will HB and CTR increase as a result of Tax Credits decreasing?

Slight benefit from increased personal allowance but offset by likelihood of having to pay more car tax on next car and increase in insurance premium tax. Other than that pretty neutral. I know people on low wages though who will benefit from this new minimum wage in the long run.

I will be worse off due to changes to dividends

I will be £1400.00 worse off according to the calculator on the Independent online. Single parent part time worker in the public sector. Excellent budget :-(

I work for the NHS so my pay will be capped at 1% for another four years. This is a pay cut in real terms since our pension contributions and professional registration fees have risen sharply and our pay had already been frozen for a few years before we were awarded our 1%. It's no great surprise though.

We don't claim any benefits (apart from CB) so the other changes don't impact us. Although we stand to benefit from the changes to IHT when my parents pass away I don't feel good about it given how the poor and vulnerable are being shafted and likely to keep on being shafted by this government.

Not a clue at present.
One child with disabilities so not sure just how much Tax credits we'd lose or wages we'd gain with the new Personal Allowance as DP is self employed and we are estimating £20k earnings. So I should be able to keep my HA house.

I'm confused on the different rates for London vs rest of Country. I've seen some sites refer to just London for the upper rate and others have said that South East/Home Counties will be included in the higher London rate.

I thought I would be ok but according to that calculator I'll be £1700 worse off. Lone parent, 1 child, work full time already..... doesn't bode well

Me too prepper. Awaiting email from accountant.......

Day to day financially I think we'll be better off as we don't claim anything more than child benefit, we're not landlords and are both employed tax payers.

I work with young children who will be in families that will be more badly off and some are already be in vulnerable situations so my job will be more difficult in various ways.

Outside of this budget what this government is doing to schools and the NHS worries me a lot.

It genuinely disgusts me that the MPs are hurrahing and fist pumping over a budget that caps a 1% pay rise for public workers in light of the MPs proposed pay rise. Sickening.

Marginally better off, I assume due to tax changes.

it went too far the other way by being more lucrative than working.
and because a few, and they really were a few took advantage you supported the slashing of the incomes of people with disabilities.

Over £1200 worse off

I don't understand how they can justify slashing people's incomes by what looks like £100 per month (according to the feedback here), without replacing it with something. Where exactly do they expect people to find the money to offset the changes?

Am I the only person who will be better off? About £250 a year so not masses but not much effect on us.

Slightly better off due to tax allowance increase, although I suspect some prices will rise due to employers passing on the NMW increase to consumers, but that's speculation.

£2000 worse off a year, there are no more savings we can make, we have no luxuries, our rent is half our income. I don't know where anyone is supposed to magic this money from, if I could have saved £2k on my bills I'd have already fucking done it. I just love paying so much rent

Apparently £189 better off. If I go back to work as a low earner I'll also benefit from the compulsory living wage, so pretty happy.

Bulldog and Prepper, DH is a contractor.

Summer Budget 2015 denounced as 'bad' for contractors :: Contractor UK
www.contractoruk.com/news/0012118osborne_four_fold_attack_contractors.html

Will lose about £100 a month from tax credit threshold being reduced from 6000 to 3850. Will gain from basic tax rate allowance being changed to 11000

I know the 1% a year public sector pay increases are not great but in the private sector, many companies are still not giving pay rises. I haven't had a pay rise for 7 years now.

Almost £2,000 worse off. Work 30.2 hours a week. Thank god DD is going to school next year and my childcare fees will be minimal.

1700 worse off (according to that calculator). Things are already tight, I'm not sure how we're going to manage.

We'll have to think of something. I know there are many worse off than us though. Sad times.

I'm a nurse but have yearly increments as I'm not at the top of my pay band yet. We are fortunate that we won't be pushed into any financial difficulty with this budget.

O great dh has just jacked in a paye job and hopes to be a contractor if he can't find work.