Chancellor Rachel Reeves has indicated that the upcoming Budget will include both tax increases and spending reductions. As anticipation builds for her speech scheduled for Wednesday, various individuals have shared their perspectives on what they hope the Budget will address, particularly regarding financial relief measures.
Wesley Thorne, 52, a small business owner from Bristol, expressed a desire for the elimination of stamp duty, which he views as a significant barrier to moving to a larger home. He suggested that the tax, which applies to property purchases in England and Northern Ireland, adds an additional financial burden during house sales.
Meanwhile, Liam Davidson, a third-year student at the University of Aberdeen, is concerned about rising transport costs. He expressed a wish for the expansion of free bus travel to all students across the UK, highlighting the financial strain of commuting expenses.
Fatima Tehan Jalloh, a single parent living in council housing in London, works as a construction site supervisor apprentice. She supports tax increases resulting in greater funding for schools and social housing, affirming that she would be willing to contribute more if it leads to improvements in essential services.
On the more affluent end, Steve Williams, an IT contractor earning approximately £150,000, believes it is reasonable for those with electric vehicles to pay for road maintenance, particularly as rumors circulate regarding potential vehicle taxes.
Becki Oliver, a PA with a family in Bourne, Lincolnshire, expressed concerns over living costs and called for increased NHS funding, while Kat Watkins, who works for Disability Wales and relies on the Motability scheme, cautioned against potential cuts to the program that aids those with disabilities.
Lastly, Neal Stead, nearing retirement with a combined income of £100,000, noted his concerns about retirement funding and hopes for stability in tax arrangements for pensions. Overall, these perspectives underscore various financial challenges faced by individuals and families ahead of the forthcoming Budget announcement.
Source: https://www.bbc.com/news/articles/c9d6zwppjvjo?at_medium=RSS&at_campaign=rss