Showing posts with label savings. Show all posts
Showing posts with label savings. Show all posts

Wednesday 19 March 2014

Spring Budget 2014 - Review

What stood out to me in George Osborne's budget speech was the parts on childcare, savings and personal tax allowances.  

This is George Osborne's  penultimate budget before the next General Election and to me everything he was offering today was about securing vital votes for the next General Election. 

George Osborne's  childcare proposals are welcome but for me and I am sure many families up and down this country it has come two years too late and do not really go far enough to alleviate the financial burden of childcare. 

Most economic commentators have described George Osbourne's increase of ISA annual limit to 15K as the 'rabbit in the hat'. 

Again I think it is a great initiative but stats show that people have started to save considerable less so raising the annual limit to 15k is great but not many people will benefit from it. 

Raising the personal tax free allowance  to £10,500 is also welcome and it means that very low income will get some additional financial help. 

But what George Osbourne's budget fails to address is the squeezed who are getting by on food banks and not much else. 

So the rather cynical side of me says that George Osbourne's will have mass appeal in the right demographic Tory voting areas. Only time will tell whether this appeal can be translated to votes on Election Day.