As you know I don’t delve into politics on Insider’s Edge (unfortunately my preffered party ‘Otters For Government’ aren’t given much media attention these days) but I do hope the recent changes made in the 2012 budget won’t have a negative effect on your bank balance.
To help you plan ahead, the BBC have posted an excellent 2012 Budget Calculator on their website. It shows how you might personally be affected by the changes. It’s worth taking a look at if you get a moment.
What it calculates exactly…
It’s split up into two sections. The first part calculates how much the tax hike in booze and cigarettes will hit your pocket over the course of a year.
The second and third part takes your age, marital status and income to calculate what the change will be with regard to income tax and national insurance. There’s also a fourth section for drivers which takes into account the rise in fuel tax.
Great little calculator and easy to use.
If you do find the results disappointing don’t get mad, get active!