It's Budget time again, to be honest it's budget time in my world 24/7 but obviously I mean the Government's Budget. At one time a yearly event but now twice yearly for good measure. I have a very clear memory from my childhood of my Mum sitting all day long, watching the Budget, pen and paper in hand, trying to work out what it all meant for us as a family. The one thing I learned from my experience growing up is to pay little heed to the Budget, certainly do not waste a day sitting watching it on the television, glorious day it has been too, would have been a sin to sit watching that lot bumping their gums all day long! Being glued to the news all day would not change the outcome, why bother worrying yourself about it. One thing for sure is what is given with one hand will be sure to be taken with the other!
So after Googling for the highlights I'll give you my lighthearted take on the Budget 2012!
There's been an Income Tax cut for high earners, I'm really pleased about this because those earning over £150,000 a year must have really been struggling. Mind you this is balanced out by higher taxes for those buying homes with a price tag of over 2 million, I'm assuming anyone with this amount of wonga to splash on a new pad is probably earning in excess of £150,000.
Child Benefit will be cut for those earning in excess of £50,000, again an earnings figure that is outwith my comprehension but initially on the face of it seems fair enough until you realise that this figure of £50,000 is not a family income of £50,000 but rather an individual in the family earning £50,000, therefore you can have the scenario whereby you have one family with only one parent working and earning £50,000+ who will experience the Child Benefit cut and another family where both parents work, earning say, £40,000 each, total household income of £80,000 and they will keep the Child Benefit, seems a bit skewed if you ask me.
Mr Osborne was very concerned that no families "fall off a cliff edge" but looks like he had no qualms about 'shoving his granny aff a bus', scrapping Income Tax breaks for Pensioners and freezing age related allowances, all this causing #grannytax to trend on Twitter.
As usual the three things to give up are drinking, smoking and driving, we'd certainly all be healthier and wealthier for it!
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