The Budget: What it means to you (From Tewkesbury Admag)
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The Budget: What it means to you
Updated 2:43pm Wednesday 20th March 2013 in News
This live event has finished
Latest
- George Osborne delivers his fourth budget today, and will detail how he plans to save £2.5 billion over the next two years.
- We will be following events live, explaining how his decisions will affect Worcestershire people.
- Let us know what you think.
- Leave a comment at the end of this story
- Tweet using #BudgetWN
- Text 80360 WN News
- Emaim news@worcesternews.co.uk
2:43pm
2:43pm
2:41pm
Thanks for following this live report of the Budget.
We'll have a full round-up and explain how it will affect people in Worcestershire in tomorrow's Worcester News.
2:26pm
@NicolandCo amongst others got to be pleased that Chancellor gives help to home-buyers #happydays #budget http://t.co/mWl8VGoTb8
— @rich_nicol 20 March 2013
2:25pm
Labour party leader Ed Miliband delivers his reaction to Chancellor George Osbourne's Budget as the shadow chancellor Ed Balls shows a copy of the Evening Standard in the House of Commons.
2:23pm
2:22pm Wed 20 Mar 13
worcswolf says
Nice to see the new tax bracket for low income earners. Felt the beer trade needed more than a 1p cut and the fuel escalator might as well be abolished as he is earning more than enough from it already. As a labour supporter would love the right miliband brother to comeback and lead the party. Fed up with John the banker I want some real policies.This tory party still slices the pie towards the wealthy but a fair budget.
2:22pm
Ed Miliband reaction
Labour leader Ed Miliband attacked a "more of the same" Budget from "downgraded Chancellor" George Osborne.
He seized on growth forecasts from the Office for Budget Responsibility which had been slashed from 1.2% this year to 0.6% and said "Britain deserves better" than it was getting from the coalition Government.
"Every Budget he comes to this House and things are worse, not better for this country," Mr Miliband said.
"Compared to last year's Budget: growth last year down, growth this year down, growth next year down, growth in 2015 down.
"All he offers is more of the same: higher borrowing, lower growth ... a more of the same Budget from a downgraded Chancellor."
He added: "Britain deserves better than this."
2:07pm
Budget round-up
The Chancellor cut the price of beer and had some good news for taxpayers as he delivered his 2013 Budget.
But he also painted a gloomy picture for the economy, as the official growth forecast was slashed in half and George Osborne admitted the recovery was taking "longer than anyone hoped".
He confirmed that September's planned fuel duty rise has been scrapped.
He said a planned 3p rise in beer duty tax was being scrapped and replaced by a 1p cut on a pint of beer.
And he brought forward a rise in the personal allowance to 2014, meaning no income tax is paid by anyone on the first £10,000 of their earnings.
He also announced a new employment allowance which will take the first £2,000 off employer National Insurance bills for every company in the country - a move he described as "taking tax off jobs".
2:04pm
#DickTips - Chancellors: save over £50 million a day simply by leaving the EU!
— @DickDelingpole 20 March 2013
2:02pm
My constituents will be very pleased with #Budget2013 especially £10K tax free, deficit down 1/3rd; #FuelTaxCut #BeerTaxCut to help pubs...
— @HBaldwinMP 20 March 2013
1:55pm
@Ed_Miliband Ed from what I have just seen you have grown into a Future Prime Minister. Your speech after the Budget was inspiring #budget
— @TezStimson 20 March 2013
1:55pm
Milliband turning a budget response into some sort of childish playground argument. More reasons not to vote labour. #bbcbudget
— @joewinter11 20 March 2013
1:44pm
Never seen Ed this animated. What's he been taking? #BudgetWN
— @tomedwardsWN 20 March 2013
1:43pm
best tweet ever :) "@StanCollymore: Budget summary. See you in the pub.A penny off a pint!!"
— @benc13 20 March 2013
1:42pm
Another nasty sneering look from Gideon for @EdMilibandPM #budget
— @BernardMcEldown 20 March 2013
1:42pm
I dont own my own house, i dont need childcare, dont qualify in any case, cant afford to save, only one wage, so that budget isnt for me
— @spursruleok 20 March 2013
1:39pm
Red Ed calls it "more pain, more spending cuts" #BudgetWN
— @tomedwardsWN 20 March 2013
1:39pm
Ed says "three years, no progress, all he offers is more of the same" #BudgetWN
— @tomedwardsWN 20 March 2013
1:36pm
Ed says the Chancellor has been "humiliated" over the loss of the AAA rating #BudgetWN
— @tomedwardsWN 20 March 2013
1:36pm
Fair bit of scepticism at the FSB conference over Ed Miliband's comments #BudgetWN
— @tomedwardsWN 20 March 2013
1:35pm
Ed: "He's the wrong man in the wrong place at the wrong time for this country" #BudgetWN
— @tomedwardsWN 20 March 2013
1:35pm
Ed Miliband says the whole budget was in the Evening Standard before Osborne's speech. True. #BudgetWN
— @tomedwardsWN 20 March 2013
1:34pm
And what did Lindsay Hoyle have for breakfast? A great budget performance from him as Chairman of Ways and Means too.
— @PeterJLuff 20 March 2013
1:33pm
RT @David_Cameron: Help for an #AspirationNation in tough times from @George_Osborne. Good news on deficit, housing, beer, petrol & tax. #Budget2013
— @1_tw 20 March 2013
1:32pm
Ed says "growth is down, it's more of the same from a downgraded Chancellor" #BudgetWN
— @tomedwardsWN 20 March 2013
1:32pm
The Chancellor is done and now Ed Miliband is in his feet #BudgetWN
— @tomedwardsWN 20 March 2013
1:32pm
He calls it an "employment allowance" - cheers here at the FSB conference #BudgetWN
— @tomedwardsWN 20 March 2013
1:30pm
Chancellor George Osbourne delivers his Budget to the House of Commons.
1:26pm
Up to £2,000 cut from national insurance contributions #BudgetWN
— @tomedwardsWN 20 March 2013
1:25pm
Personal allowance raised to £10,000 next year, instead of 2015 #BudgetWN
— @tomedwardsWN 20 March 2013
1:25pm
Osborne wants the nation to get drunk to lift the mood, clearly. Hiccup. #BudgetWN
— @tomedwardsWN 20 March 2013
1:24pm
Can't believe the government is pushing people towards taking out loans. So wrong #budget #budget2013
— @TezStimson 20 March 2013
1:24pm
OBR have confirmed that the PM's EU budget deal will save Britain over £3.5bn #budget2013
— @Mark4WyreForest 20 March 2013
1:21pm
Beer duty escalator AXED altogether. I'll drink to that. Beer duty cut by 1p #BudgetWN
— @tomedwardsWN 20 March 2013
1:21pm
Osborne is now onto pubs - says we've lost 10,000 in the last decade #BudgetWN
— @tomedwardsWN 20 March 2013
1:21pm
Fuel duty will be frozen, September's planned rise is scrapped. Breathe easy #BudgetWN
— @tomedwardsWN 20 March 2013
1:21pm
There will also be a mortgage guarantee scheme #BudgetWN
— @tomedwardsWN 20 March 2013
1:21pm
It will be shared equity, with the buyer needing five per cent #BudgetWN
— @tomedwardsWN 20 March 2013
1:21pm
New £3.5bn scheme with the Government offering home loans of 20 per cent to buyers - will be interest free for first five years #BudgetWN
— @tomedwardsWN 20 March 2013
1:17pm
Social care costs for elderly capped at £72,000 from 2016 #BudgetWN
— @tomedwardsWN 20 March 2013
1:15pm
Leak apology
The political editor of the Evening Standard apologised today after details of Budget were published on Twitter before the Chancellor delivered his speech to MPs.
While Chancellor George Osborne was on his feet delivering the 2013 Budget, the Labour front bench were closely studying photocopies of the Standard splash which had been tweeted.
1:13pm
Flat rate pension of £144 a week brought forward to 2016 #BudgetWN
— @tomedwardsWN 20 March 2013
1:13pm
That's up to £1,200 towards the costs of child care for working parents #BudgetWN
— @tomedwardsWN 20 March 2013
1:13pm
Osborne confirms the child care voucher scheme first revealed yesterday #BudgetWN
— @tomedwardsWN 20 March 2013
1:12pm
Corporation tax will be incredibly low. It's 29 per cent in Germany #BudgetWN
— @tomedwardsWN 20 March 2013
1:12pm
What are your thoughts on the Budget so far?
Add your comments on the end of this report.
- Tweet using #BudgetWN
- Text 80360 WN News
- Email news@worcesternews.co.uk
1:09pm
Nothing in the Budget yet for Welfare & Families?
— @Steve_Greenhill 20 March 2013
1:08pm
Corporation tax reduced to 20 per cent in 2015 #BudgetWN
— @tomedwardsWN 20 March 2013
1:08pm
This is looking like a pro-business, pro-enterprise but very anti public sector budget so far #BudgetWN
— @tomedwardsWN 20 March 2013
1:07pm
Tax incentives for new business start ups too #BudgetWN
— @tomedwardsWN 20 March 2013
1:04pm
Watching the budget #budget2013 #dontgetit
— @aml21 20 March 2013
1:00pm
He is clearly pinning his hopes on private sector employment getting the UK out of this hole. #BudgetWN
— @tomedwardsWN 20 March 2013
1:00pm
He says infrastructure spending will be boosted by £3 billion a year from 2015/16 #BudgetWN
— @tomedwardsWN 20 March 2013
1:00pm
Osborne says the Government is building the "most competitive tax system in the world" - on this point, he is right #BudgetWN
— @tomedwardsWN 20 March 2013
1:00pm
Osborne: "All decisions on pay are tough and difficult but if we didn't take them it would be worse" #BudgetWN
— @tomedwardsWN 20 March 2013
12:55pm
Public sector pay increases limited to one per cent in 2015 - Osborne says this is "tough but fair" and will save jobs. #BudgetWN
— @tomedwardsWN 20 March 2013
12:55pm
Schools and NHS budgets will be protected, he says #BudgetWN
— @tomedwardsWN 20 March 2013
12:54pm
Schools and NHS budgets will be protected, he says #BudgetWN
— @tomedwardsWN 20 March 2013
12:54pm
Most departments to get a 1 per cent cut in funding, says Osborne #BudgetWN
— @tomedwardsWN 20 March 2013
12:54pm
He was smiling this morning. How will he be feeling once he's delivered his Budget?
12:51pm
There will be tax cuts in the budget, but they will be paid for by spending cuts. #BudgetWN
— @tomedwardsWN 20 March 2013
12:50pm
Budget's getting pretty rowdy!
— @PhilWeatherill 20 March 2013
12:49pm
Chancellor: This is a budget for people who aspire to work hard and get on " But Taxes go up and up" what rubbish it DONT hit the rich.
— @Steve_Greenhill 20 March 2013
12:49pm
The OBR is predicting growth of 1.8 per cent in 2014 and 2.3 per cent in 2015. #BudgetWN
— @tomedwardsWN 20 March 2013
12:47pm
Ed Balls is holding up a leaked front page of the Evening Standard, flapping his arms around like a madman. #BudgetWN
— @tomedwardsWN 20 March 2013
12:46pm
The OBR always predicts a better tomorrow, and when tomorrow comes it rarely is. #BudgetWN
— @tomedwardsWN 20 March 2013
12:46pm
Three years ago the OBR predicted 2.9 per cent growth for 2013. There's your context. #BudgetWN
— @tomedwardsWN 20 March 2013
12:46pm
The OBR says we will avoid a second quarter of negative growth #BudgetWN
— @tomedwardsWN 20 March 2013
12:46pm
He says reducing the size of the public sector workforce has been "unavoidable" #BudgetWN
— @tomedwardsWN 20 March 2013
12:45pm
Growth forecast just 0.6 per cent in 2013, says Osborne #BudgetWN
— @tomedwardsWN 20 March 2013
12:45pm
The chancellor states this is a budget for our aspiration nation "What" ???
— @Steve_Greenhill 20 March 2013
12:35pm
It's started!
The Chancellor of the Exchequer George Osborne rose today to deliver his Budget statement to the House of Commons at 12.32pm.
Mr Osborne said: "This is a Budget for people who aspire to work hard and get on."
12:34pm
Cameron is now fending off calls to scrap the bedroom tax. He says only the Labour Party call it a tax. Really? #BudgetWN
— @tomedwardsWN 20 March 2013
12:28pm
David Cameron has just praised Jaguar Land Rover in the commons for being a major success story. Here here. #BudgetWN
— @tomedwardsWN 20 March 2013
12:27pm
Unemployment rise undermines Osborne's rosy budget speech hopes http://t.co/0wC4TiBJHH
— @BusinessDesk 20 March 2013
12:19pm
Ken Wigfield, regional head of the FSB says businesses are crying out for people to start talking up the economy #BudgetWN
— @tomedwardsWN 20 March 2013
12:16pm
Chancellor of the Exchequer George Osborne walks away from 11 Downing Street heading to the House of Commons to deliver his annual Budget statement.
12:13pm
Today's Budget will show the Government "sticking to the course of tackling the deficit whilst continuing to support aspiration", Prime Minister David Cameron's official spokesman said.
As he prepared for a crucial statement delivered to the House of Commons against a backdrop of gloomy economic news, Chancellor George Osborne promised "a Budget that tackles the economy's problems head-on, helping those who want to work hard and get on".
12:11pm
There is speculation the budget could reduce the annual pension allowance - which limits the amount of annual tax-advantaged pension saving
— @rjbradley 20 March 2013
12:08pm
The FSB say they want fuel duty tax rises to be cancelled completely #BudgetWN
— @tomedwardsWN 20 March 2013
12:08pm
Not much confidence among the business community here. Fuel cited as the biggest issue among employers. #BudgetWN
— @tomedwardsWN 20 March 2013
11:10am
Off to Sixways for an FSB Budget day event - be interesting to see what businesses make of Osborne's balancing act...#BudgetWN
— @tomedwardsWN 20 March 2013
11:08am
Slowest recovery from #recession ever - why aren't the Government changing tack? What they're doing obviously isn't working #budget
— @ShazCook 20 March 2013
11:07am
Oh dear God, it's Budget Day, how concerned are you?
— @jsktec 20 March 2013
8:50am
The Ross family, from Worcester, have appealed for help from the Chancellor today. Read their story here and let us know if you agree.
8:12am
RT @George_Osborne: Today I'll present a Budget that tackles the economy's problems head on helping those who want to work hard & get on http://t.co/20nyTj0UCF
— @ClaireNewton79 20 March 2013
worcswolf says...
2:22pm Wed 20 Mar 13