Wednesday, March 12, 2008

Budget Day

The main losers in this years budget announced today by the Chancellor of the Exchequer were smokers, drinkers and drivers.

Even although the Budget fell on No Smoking Day Alistair Darling decided to increase the price of a packet of cigarettes by 11p.

The price of alcohol will also rise from Sunday with a bottle of wine costing an additional 14p, a bottle of spirits increasing by 55p and the cost of a pint of beer went up by 4p.

Drivers of environmentally unfriendly cars will be hit as the Chancellor outlined reforms to vehicle excise duty which will be based on the amount of pollution produced by the vehicles. The good news for drivers was that the 2p increase on fuel prices has been delayed from April to October.

The main winners from the budget are pensioners and families on benefits.

Pensioners gain through a £50 increase in the Winter Fuel Allowance bringing this up to £250 for the over 60s and £400 for the over 80s.

The Chancellor will also ensure that families on benefits will be better off in work by changing the current eligibility for housing and council tax benefits. He also announced that Child Benefit will be increased to £20 a week from April 2009.