What will Chancellor George Osborne’s 2014 Budget mean for you?

With the UK economy recovering far quicker than was expected, yesterday’s budget speech has been widely regarded as the best George Osborne has given since the coalition government came to power.

Thousands of people will benefit from the budget announcements and whilst there will be people who will say not enough has been done, I think overall it has to be accepted that only a few short years ago the coalition inherited the worst set of books in recorded history from the outgoing government, after 12 years in power and with Liam Bryne leaving a note to the incoming Chief Secretary to the Treasury David Laws effectively saying “there is no money, good luck”. http://www.mirror.co.uk/news/uk-news/liam-byrnes-infamous-no-money-1990195

Given the almost unbelievable situation the incoming government had to grapple with I think it is incredible that the country is on course to have a surplus rather than a deficit by 2019 of around £5Bn if the current Chancellor’s plans are stuck to.

The boost for businesses in supporting apprentice training programmes and introducing apprentice degrees is welcome news, as is reducing corporation tax again, inspiring companies to come to the UK. Freezing fuel duty will help thousands of businesses and families, and allowing people to earn £10,500 a year before being taxed at all is excellent news for many low earners and is £500 more than was widely predicted would be announced.

Help to Buy has been extended until 2020 to enable 120,000 or more new homes to built which will help the property industry catch up on the huge lack of supply which is pushing up prices in many parts of the country for thousands of families.

Cutting beer duty and freezing it on cider and spirits is good for our drinks manufacturers here in the UK as we produce some of the best beers, ciders and whiskeys in the world.

The boost for exports too is very good news because Britain needs to become a mass exporter again, the number of jobs that depend on it are crucial.

Savers are finally being rewarded and ISA’s simplified helping people who have often worked all of their lives, paying taxes to be able to retire comfortably.

Yes there is always more that can be done but whatever way you look at it there was no money when the current government came to power and with the stewardship of Chancellor George Osborne and the hard work of the people of Great Britain we now have the fastest growing economy in the developed world, even out pacing America, also once written off, which has to be good news for our economic security and ultimately our happiness.

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