Within a short space of time UK Chancellor George Osborne will get to his feet in the House of Commons and detail his Spring Budget. People around the UK will all be hoping that he does not announce changes which will hit their pockets hard. More people will be hoping that he announces changes which will positively affect them. Of course he cannot please everyone. A fair and balanced budget is what we should all be hoping for.
The Budget used to be top secret. In the past even the UK PM was not privy to the budget before budget day. That is if you believe the hype. These days the UK Conservative government share power with the LIberal Democrats in a Coalition Government. This means that the budget was debated between Cameron, Clegg, Osborne and Alexander. The leaders and Chancellors of both parties.
Apart from that though the media seems to have got hold of budget details too. At least a few. If they are right the personal allowance before we all pay tax will be increased slightly more than expected. It will not be to the £10,000 wanted by the Liberal Democrats but at least it is a start.
It is also expected that Osborne will scrap the 50% tax rate for high earners. He may not do this in one fell swoop but rather staggered over a period of time. At the same time he is set to close the loophole which has allowed the Wealthy in the UK to avoid tax by off shore house ownership.
According to David Cameron today the budget will be one full of core Coalition values.
Check back soon to see if predictions are correct and what else the Chancellor has in store for us.
The Budget used to be top secret. In the past even the UK PM was not privy to the budget before budget day. That is if you believe the hype. These days the UK Conservative government share power with the LIberal Democrats in a Coalition Government. This means that the budget was debated between Cameron, Clegg, Osborne and Alexander. The leaders and Chancellors of both parties.
Apart from that though the media seems to have got hold of budget details too. At least a few. If they are right the personal allowance before we all pay tax will be increased slightly more than expected. It will not be to the £10,000 wanted by the Liberal Democrats but at least it is a start.
It is also expected that Osborne will scrap the 50% tax rate for high earners. He may not do this in one fell swoop but rather staggered over a period of time. At the same time he is set to close the loophole which has allowed the Wealthy in the UK to avoid tax by off shore house ownership.
According to David Cameron today the budget will be one full of core Coalition values.
Check back soon to see if predictions are correct and what else the Chancellor has in store for us.
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