Social housing and tax credits in Budget.

[smokinaces]

Can someone please explain if this budget is going to have a big impact on me or if I'm just being a bit scared?

Currently very lucky to be in a council house. Have been here 13m, so now secure tenancy. Am in a 3 bedroomed (small) house with 2 boys aged 4 and 2 (were eligible for a 2bed, but none available at the time, very few and far between availability wise on the bidding system here)

I earn a little working 16hrs per week.I pay half of my £80 rent weekly - the other £40 comes from housing benefit.I receive no council tax benefit.

I receive 80% of my childcare paid for as a single parent earning £8k a year, and free prescriptions. I also get working tax credit.

Am I going to be forced to leave my home with this new budget? Will I lose my housing benefit? and what about my tax credits?

I kind of get the gist of the budget, but have no idea how it actually affects me and am a little worried.

No smoke - the housing benefit is being stopped at £400 a week for a 4 bed house. So as long as you are not in a £1600 a month property you will be fine.

Tax credits are stopping for anyone earning in excess of £40k which seems alot but would imagine in London for example is not such a good income.

So - should not affect you at all apart from things like the VAT increases. The big thing to increase as a result will be domestic fuel so your electric might go up a bit next year. No VAT on clothes or food - just the so-called luxury items (although I wouldn't class heating as a luxury).

I thought gas and electricity were currently at 5% vat or is that just for businesses? Or will it go up to 20%?

Thanks Jolly.I think the main bit that worried me was the whole living in a house bigger than I technically need. I know its selfish, but the third bedroom is not going to be much use once DS2 is in a fullsized bed. And this was my home after my ex-H left - I have done everything to it and am not emotionally strong enough to have to give it up and downsize. I know thats really selfish.