Budget 2014 – what it means to you

0
34
budget 2014 word cloud

Our breakdown of how Osborne’s budget will affect housing, wages and welfare.

Housing

  • Stamp duty will increase to 15 per cent for properties over £500,000 bought by corporations
  • £150m for home builders in new ‘right to build scheme’
  • Help to Buy scheme will be extended to 2020 and focused on new builds

 Wages

  • No income tax for first £10,500 of earning
  • The increase in tax-free allowance will begin in April 2015

Welfare

  • Welfare will be capped at £119bn for 2015/16 will rise in line with inflation to £127bn for 2018/19
  • The cap does not state pension or Jobseeker’s Allowance