Budget 2012 explained: Live webchat with Mark Dampier, Head of Research at Hargreaves Lansdown, Wednesday 21 March 12.30-2pm

[AntoniaMumsnet]

It's Budget day on Wednesday. What will happen to the 50p tax rate? Will we see a mansion tax? What about child benefit?

It could be a red letter day for your family finances. We are delighted to welcome Mark Dampier to Mumsnet for a live budget webchat. Mark is head of research at Hargreaves Lansdown, the independent financial adviser, and an all-round financial guru. He will be translating the Chancellor's statements as he makes them, and finding time to answer your comments.

Mark will be busy keeping an eye on Osborne, so please don't post questions about your own family finances here (we've got plans for a special Q&A about this later, see below). Do join us here at 12.30, when the fun begins.

Coming up: We've set up a Q&A with a panel of experts to take questions on your family finances after the Chancellor sits down.

Next week, Mumsnet favourite Alvin Hall will be in on Thursday 29 March for a live webchat on savings and investments.

It's all about the Money at Mumsnet HQ.....

Tell me more about CB, please?

As queen of biscuits says - by the time theyve administeredthat they will have eaten all the money up

Wait a minute doesn't that mean now that 2 members earning £98,000 will still get CB?

yes yes yes to £50000 cut off

personal allowance going up big increase to £1100

worth £220pa

it doesn't seem to remove the anomoly of two earners just under the threshold.

"Set the goal of raising the personal allowance..." Not a firm commitment..

£8105 this year (April)

£9205 next year

£9205 from April 2013

So what's tgat £12/3 per month from next April..... I'll get my thinking cap on then won't want to waste it.

Family income or individual??? So a couple on £98k would still get it? ARGH!

@Thetokengirl

Tell me more about CB, please?

So instead of £42,000 as the threshold for CB loss it will be £50,000. Above £50,000, you will lose 1% of CB for every £100 earned. By the time you earn £60,000 you'll get nothing.
Sounds tricky to adminster...

now just winding up

Basically a single person on £50,000 will get it lowered if they £100 over £50,000 or lose it at £60,000 but a couple on 90,000 will still get it i think

Who is that texting behind him????

Absolutely Miranda, all they've achieved is to reduce the complaints about how unfair it is as a lot of people will feel relieved.

Couples - yes.
Lone parents - no.
One working parent - no.

Child benefit, did he say that's household income or just one persons? Does that mean two people can still earn over 80k and get CB?

child benefit changes will be hard to administer.

@pumpkinsweetie

Basically a single person on £50,000 will get it lowered if they £100 over £50,000 or lose it at £60,000 but a couple on 90,000 will still get it i think

It looks like it. We'll track down the Budget documents and double check...

Even though £60,000 is a hefty wage for a single person- i also think he's picking on single parents by doing this which is wrong!!! Arrrrrggghh

I think everyone who works should pay some tax. Not in favour of no tax at all. There should be a feeling of contribution no matter how low.

with CB, did they address the issue of HRP?

How does this all tie in with the Universal Credits from next year...?

Will put this question here too because I really would like to know:

If it is going to affect as few families as he says then surely it is not that much of an expensive measure.
Why do it at all, then? Especially given the increased admin costs. Is it just moving a universal benefit to a means tested one for the principle of the thing?