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| George Osborne's budget: the winners and losers | George Osborne's budget: the winners and losers |
| (17 days later) | |
| The winners | The winners |
| Home buyers – and owners | Home buyers – and owners |
| One of the most extensive measures in the budget was the help-to-buy scheme, giving those buying new houses up to 20% of the value of a new home as a deposit, provided the buyers can find 5% themselves. Good news for those currently househunting – and, as it'll prop up house prices, to current homeowners. | One of the most extensive measures in the budget was the help-to-buy scheme, giving those buying new houses up to 20% of the value of a new home as a deposit, provided the buyers can find 5% themselves. Good news for those currently househunting – and, as it'll prop up house prices, to current homeowners. |
| Beer drinkers | Beer drinkers |
| A yeasty surprise for hop-lovers came near the end of the chancellor's budget address in the form of not just a freeze on beer duty but a 1p cut on the duty on a pint. The measure's ostensibly aimed at supporting British pubs, but with minimum alcohol pricing in doubt, it might just boost supermarket drinkers too. Drinkers of wine (up 10p a bottle), cider (up 2p a pint) or spirits (up 38p a bottle) might be less impressed. | A yeasty surprise for hop-lovers came near the end of the chancellor's budget address in the form of not just a freeze on beer duty but a 1p cut on the duty on a pint. The measure's ostensibly aimed at supporting British pubs, but with minimum alcohol pricing in doubt, it might just boost supermarket drinkers too. Drinkers of wine (up 10p a bottle), cider (up 2p a pint) or spirits (up 38p a bottle) might be less impressed. |
| Stoke-on-Trent potters | Stoke-on-Trent potters |
| One of the more left-field winners, Stoke-on-Trent's famed pottery industry got a boost – and its Labour MP, Tristram Hunt, a nod from the chancellor – with exemptions from the climate change levy to help the industry manage rising energy costs. | One of the more left-field winners, Stoke-on-Trent's famed pottery industry got a boost – and its Labour MP, Tristram Hunt, a nod from the chancellor – with exemptions from the climate change levy to help the industry manage rising energy costs. |
| Drivers | Drivers |
| Good news again for motorists with yet another scheduled fuel duty rise scrapped – this time at a projected cost of around £3.9bn over the next five years. Welcome news to those suffering the prices at the pump, but not so good for those annoyed at congestion (or climate change). | Good news again for motorists with yet another scheduled fuel duty rise scrapped – this time at a projected cost of around £3.9bn over the next five years. Welcome news to those suffering the prices at the pump, but not so good for those annoyed at congestion (or climate change). |
| Plan A | Plan A |
| Despite yet another set of downgrades to the UK's economic forecast, the coalition's plan A, to cut the deficit instead of borrowing more to invest to grow the economy, emerged unscathed. Despite some corporate tax cuts, including employers' national insurance, and some boosts to capital spending, the budget stayed almost entirely fiscally neutral: overall spending increases by just £150m over five years – about 0.004% of annual spending. Plan B this isn't. | Despite yet another set of downgrades to the UK's economic forecast, the coalition's plan A, to cut the deficit instead of borrowing more to invest to grow the economy, emerged unscathed. Despite some corporate tax cuts, including employers' national insurance, and some boosts to capital spending, the budget stayed almost entirely fiscally neutral: overall spending increases by just £150m over five years – about 0.004% of annual spending. Plan B this isn't. |
| The losers | The losers |
| Public sector workers | Public sector workers |
| Bad news again for most of the UK's 5.7 million public sector workers, who have been told to expect another year of below-inflation pay rises of 1% – though the armed forces are exempted. There are also plans to limit use of progression scales, salary increases not covered by the cap. For some public sector workers this marks a full five years of real-terms pay cuts: a salary cut of close to 10% over the lifetime of the parliament. | Bad news again for most of the UK's 5.7 million public sector workers, who have been told to expect another year of below-inflation pay rises of 1% – though the armed forces are exempted. There are also plans to limit use of progression scales, salary increases not covered by the cap. For some public sector workers this marks a full five years of real-terms pay cuts: a salary cut of close to 10% over the lifetime of the parliament. |
| Tax dodgers | Tax dodgers |
| The budget contained lots of plans to clamp down on tax avoiders, with the introduction of a general anti-avoidance rule, measures to stop companies "buying" losses (to offset against tax) and other means. The chancellor hopes these will raise around £4.8bn in five years – a substantial chunk of revenue, especially given that previous crackdowns on avoiders have under-delivered. | The budget contained lots of plans to clamp down on tax avoiders, with the introduction of a general anti-avoidance rule, measures to stop companies "buying" losses (to offset against tax) and other means. The chancellor hopes these will raise around £4.8bn in five years – a substantial chunk of revenue, especially given that previous crackdowns on avoiders have under-delivered. |
| Climate change campaigners | Climate change campaigners |
| Measures to promote investment in shale gas and ensure communities benefit from local reserves of the gas will be welcomed by supporters of fracking – the new form of gas extraction – and the energy giants hoping to exploit these new reserves. It'll be less welcome to the climate change groups who have been occupying power plants and taking other direct action to oppose such new extractions. | Measures to promote investment in shale gas and ensure communities benefit from local reserves of the gas will be welcomed by supporters of fracking – the new form of gas extraction – and the energy giants hoping to exploit these new reserves. It'll be less welcome to the climate change groups who have been occupying power plants and taking other direct action to oppose such new extractions. |
| Social housing planners | Social housing planners |
| Alongside more high-profile housing initiatives, George Osborne announced plans to increase eligibility for right-to-buy by cutting how long you have to live in a house before being allowed to buy it from five years to three. Despite the budget containing plans to build 15,000 more social homes, this move – coupled with other changes to housing benefit, and a slowdown in construction of social homes – means providers might find it still harder to house families on the waiting lists. | Alongside more high-profile housing initiatives, George Osborne announced plans to increase eligibility for right-to-buy by cutting how long you have to live in a house before being allowed to buy it from five years to three. Despite the budget containing plans to build 15,000 more social homes, this move – coupled with other changes to housing benefit, and a slowdown in construction of social homes – means providers might find it still harder to house families on the waiting lists. |
| OBR forecasters | OBR forecasters |
| Another day, another downgrade. In this budget – as with every public statement since the chancellor established the team – the economic forecasts of the Office for Budget Responsibility have been downgraded, this time to a paltry 0.6% growth for 2013, and 1.8% for 2014 – with, once again, jam promised tomorrow, with a return to healthy growth a few years out. The problem is, everyone's heard that before and seems a bit sceptical this time. | Another day, another downgrade. In this budget – as with every public statement since the chancellor established the team – the economic forecasts of the Office for Budget Responsibility have been downgraded, this time to a paltry 0.6% growth for 2013, and 1.8% for 2014 – with, once again, jam promised tomorrow, with a return to healthy growth a few years out. The problem is, everyone's heard that before and seems a bit sceptical this time. |
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