On Wednesday, the upcoming Budget will outline individual tax obligations and government spending on essential services such as the NHS, education, and transportation. BBC News has gathered insights from individuals across various income levels regarding their expectations for the Budget and their concerns about potential impacts.
Hannah Clarke, a mother of two from Rutland in the East Midlands, has transitioned from two part-time jobs to studying full-time for a midwifery degree while working part-time as a beauty technician. With a monthly income of around £1,800, largely from a non-taxable student loan, she manages to cover her increased mortgage payments, bills, and fuel costs but often finds it challenging. Hannah advocates for universal free school meals and suggests lowering the eligibility threshold for existing programs. She also opposes any increase in fuel duty that would burden drivers with higher costs.
Luken Coleman, a Level 3 business administration apprentice earning approximately £1,500 monthly, lives with his parents in Newbury. Despite paying £200 in rent and managing his own bills, he feels unable to afford independent living due to high local rent prices. Luken believes apprentices should receive better pay to reflect their work contributions and alleviate financial pressures on young adults living at home.
Yasmin Taylor from Kent works as a tech consultant and is a single mother of two. Her primary expense is £2,600 monthly for childcare. Although she earns £150,000 annually—classifying her as a high earner—she does not qualify for any child-related financial support. Yasmin expresses concern over rising energy costs this winter and has an eye on potential changes to capital gains tax that could affect her future financial plans.
Kirsty Brett works part-time as a cleaner earning minimum wage and is seeking affordable housing after moving in with her sister. She suffers from osteoporosis and believes that the National Living Wage should be raised to at least £15 per hour to keep up with rising living costs.
Nicole Healing rents a flat in Brighton for £1,250 monthly but faces challenges due to disabilities that hinder employment. While currently receiving several benefits, Nicole worries about possible cuts that could affect their financial situation significantly.
Andrew Cunningham, a blogger and web developer in Glasgow, is apprehensive about proposed caps on tax-free savings accounts (ISAs) which could discourage saving among middle earners like him. He fears that changes in pension tax relief could negatively impact his retirement savings.
Ben Howard from Bristol anticipates financial strain after his mortgage payments increased significantly. He calls for better childcare support so parents can continue pursuing career goals without excessive financial burdens.
Allana Lamb, a retired social worker and veteran facing rising living costs, feels anxious about potential government decisions that may further disadvantage low-income individuals while favoring wealthier citizens. She hopes for adjustments in social care funding thresholds to provide necessary support.
Small businesses also report concerns over tax burdens that limit growth opportunities amidst rising demands for services they provide. The government claims it will maintain its stance against raising taxes on working individuals in this week’s Budget announcement.