1. ITV Report

Budget 2012: What it means for your family

Gary Landon-Jones, wife Lydia and daughter, Macy Photo: ITV Wales

The Chancellor George Osborne said his budget was one for ‘working families and those looking for work.’

What he has announced today will impact on each and everyone one of us, in some cases from as early as 6pm this evening.

In these difficult economic times many families have had to stretch their money, so will today’s budget help families like the Landon-Jones' and pensioners like Bill Murphy?

The Landon-Jones family and pensioner Bill Murphy watched the Chancellor's speech closely Credit: ITV Wales

For many, the price of fuel is something they would like to see cut. However George Osborne said there would be no change, meaning duty will rise as planned in August.

Better news for those who like a drink, no change to duty on alcohol. Bad news for those who like to smoke. Tobacco duty will rise - the equivalent of an extra 37p on a packet of cigarettes.

Income tax allowance will be raised to just over £9,000 from 2013, making millions of people £220 a year better off.

No change to the basic rate of tax but for those paying the 50p rate, will see a cut of 5p.

It was also confirmed that any family with someone earning over £50,000 a year will see their child benefit phased out.

This is how our family, youngster Kirsty Evans and pensioner Bill Murphy reacted, speaking to our correspondent Esyllt Carr.

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