Chancellor Jeremy Hunt has delivered his Spring Budget which included plans to extend free childcare, tackle inflation and encourage people to stay in work for longer, as the government tries to grow the stalling economy.
Mr Hunt also extended energy bill help for a further three months and increased the amount people can save in their pensions before being taxed in fiscal statement billed as the ‘Back to work Budget”.
Every year the government sets out how much it expects to collect in tax receipts and how it plans to spend this money on public services such as the NHS, schools, the police and others.
The chancellor, who is in charge of the nation’s finances, can choose to either put taxes up or down when they deliver their statement to MPs in the House of Commons.
The Independent’s Budget calculator, created by tax advisory firm Blick Rothenberg, below will help you to determine whether you are better or worse off following Wednesday’s statement. Just enter a few details such as how much you earn, whether you are single, are in a couple or have a family to see if your finances are up or down.
