Chancellor Jeremy Hunt has delivered his spring budget, which includes plans to extend free childcare, tackle inflation and encourage people to stay in work longer as the government tries to boost the stagnant economy.
Mr Hunt also extended help with energy bills by another three months and increased the amount people can keep in their pensions before tax in the fiscal statement billed as the “Back to Work Budget”.
Every year the government decides how much money it expects to raise in tax revenue and how much money it will spend on the NHS, schools, police etc. determines how it plans to spend on public services such as
The chancellor, who is responsible for the country’s finances, can choose to raise or lower taxes when he makes a statement to MPs in the House of Commons.
The Independent Below is a budget calculator created by tax advisory firm Blick Rothenberg to help you determine whether you’re better off or worse off after Wednesday’s announcement. To find out if your finances are high or low, enter a few details, such as how much you earn, whether you’re single, married, or have a family.
