19th March 2015

Budget 2015

How will it affect you?

This year’s budget has been announced with plenty of big changes to come and it affects everyone in some way, shape or form. But when we look at it from a student’s point of view it doesn’t actually seem too bad! Take a look at the main changes that are likely to affect you and you’ll see what we mean…

The fuel duty increase scheduled for September is cancelled

Duty on beer will be cut by 1%, while duty on cider, Scotch whisky and other spirits will be cut by 2%. Wine duty will be frozen.

The personal tax-free allowance will be increased to £10,800 in April 2016, and to £11,000 in April 2017 which means you can earn up to that amount annually before you pay tax.

From October the National Minimum Wage will rise by 20p an hour to £6.70.

A new Help to Buy ISA will be available for people buying their first homes. Save up to £200 a month and the government will boost it by 25% – that’s an extra £50 for every £200 saved!

Funding for wifi in public libraries

Plan for better mobile networks and ultra-fast broadband to the majority of homes in the country.

Bob over to Gov.uk for more details on the 2015 Budget: