The decision to cancel the fuel duty increase due in September has been welcomed by the MP for Thirsk, Malton and Filey.
This news will be welcomed by many living in Thirsk, Malton and Filey. Obviously, I am disappointed that the Chancellor has not agreed to a rural fuel duty rebate for certain areas of North Yorkshire. Measures in the budget that will help hard working families include future childcare vouchers for working parents or single parents, help with mortgages for new homes, the reduction of tax on new jobs in small companies, as well as the commitment to raise personal allowances so no-one will pay income tax for the first £10,000.
These measures show that the Government is trying to help all with aspirations who are trying to do their best for their families.
Steven Bruck, a partner at Blick Rothenberg Chartered Accountants, takes a look at the winners and losers of this year's Budget.Read the full story ›
- New Employment Allowance will take the first £2,000 off the employer National Insurance bill of every company in the country
- Around 450,000 small businesses - one third of all employers - will pay no employer National Insurance at all after introduction of Employment Allowance in April next year
- Small firms will be given help through Government procurement budgets, growth vouchers and controls on regulators' charges
- The Capital Gains Tax holiday will be extended
- Corporation tax to be reduced by a further 1% to 20% in April 2015
- Small company and main rates of corporation tax merged at 20p
Here are some of the measures announced by Chancellor George Osborne that could affect voters' wallets:
- Rise in personal allowance brought forward to 2014, meaning no income tax on the first £10,000 of earnings
- Tax free child care vouchers worth £1,200 per child and increased support for families with children on universal credit
- Flat rate pension worth £144 a week to be brought forward to 2016
- Fuel duty rise scrapped
- Help for Equitable Life policy holders extended to those who bought with-profits annuities before 1992, with payments of £5,000 and extra £5,000 for those on lowest incomes
- Planned 3p rise in beer duty tax scrapped and replaced by a 1p cut in duty on a pint of beer
- New Help-to-Buy scheme for those struggling to find mortgage deposits will include £3.5 billion for shared equity loans, and a Government interest-free loan worth 20% of the value of a new build house
- Cap-on social care costs to come in in 2017 and protect savings above £72,000
Watch the full report from Ben Chapman below.
As anyone who has tried to buy or sell a house in the last few years will tell you, one of the biggest effects of the recession was in the property market.
As it became harder to find mortgages, it became harder to find buyers - and prices fell.
However, the latest member of our Business Club has been telling Ben Chapman that things may finally be looking up for the property market.
Watch his full report below.
Whether there will be more new jobs this year may come down to whether more of us are able to spend more of the money we have.
We may not be spending our money on the high street, but as workers at Nissan will tell you, we still seem to have a love for new cars.
This week we're recuiting new members to our Business Club.
Ben Chapman has been to meet a man who discovered a passion for selling new cars thirty years ago.
Watch his full report below.