ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Budget 2015: Good and Bad

Updated on July 8, 2015

George Osborne was undoubtedly rubbing his hands together with glee at the prospect of creating a budget without the LibDems' somewhat invisible protests. What works, and what doesn't? All points are sourced from BBC News, and rephrased or summarised.


The Good

Living wage will be put in place for workers over the age of twenty-five, starting at £7.20 and ending at £9.00,

Well, good is a strong word. "Okay, I guess" better fits the bill. Some would say it's too little, some what say it's good they're addressing it.

Inheritance tax threshold will be increased to £1m.

Why should homes which have been in the family for generations be given to the taxman?

Tax threshold will rise to £11k next year, and £12.5k by 2020.

Cool.

The threshold for the 40p rate will rise to £43k.

This is one of the policies which does help the hard working people, and not exclusively the super-rich; the shade below £800 wouldn't mean much to millionaires, whereas people who earn between £40-50k are hardworking.

Benefits will only be given to two children per family, starting with those born from April 2017.

Let's get one thing clear - if someone with a big family suddenly had enough to just look after two of their children, we would not be okay with this. But this will only affect future families, and many would say people shouldn't have children they can't afford.

Social housing rents will be reduced by 1% per year for the next four years.

Cool.

Eighteen to twenty-one year olds will not automatically be entitled to housing benefit, with a new "earn to learn" obligation.

Encouraging young people to get jobs or improve their education is never a bad thing. Incidentally, the list we sourced this from missed out the words "single and childless", so young families won't be turfed out onto the street.

People older than seventy-five won't have to pay TV licence.

There'll be less moaning in BBC's Points of View about how the elderly are "paying for this rubbish."

The annual household benefit cap will be reduced to £23,000 in London and to £20,000 in the rest of Britain.

Maybe it should be reduced over time, though.

Benefit cap per household will be reduced to £20k.

Though maybe it should be done gradually.

Large employers will receive new apprenticeship levies.

Compliments the "earn or learn" rule above.

NHS will receive a further £8bn by 2020, as well as the £2bn previously announced)

We'll believe it when we see it, though!

Government to fund memorial to victims of terrorism overseas.

With the threat level of terrorism much higher than 7/7 a decade ago, we should stand united.


Bad

All working age benefits (not including maternity or disability) will be frozen for four years.

We're all in this together!

Proposals for "a radical change" to pension saving system to be published.

We bet there'll be lots of respecting our elders!

Public sector pay rise will remain at 1%.

Unless your public sector job is MP!

Climate Change Levy exemption for renewable electricity to be removed.

The Government need reminding that renewable energy is a good thing.

Student maintenance grants will be replaced with repayable loans.

Gotta keep the less well-off in their place!


Comments

    0 of 8192 characters used
    Post Comment

    • Alexanderjwright profile image

      Alexander James Wright 

      3 years ago from Brussels, London, Shanghai

      Tory government will sort this country out!

      Sensible reforms based on putting people back to work and cutting down on unnecessary red tape// Only questionable policy is the EU approach as an exit could be highly dangerous for future growth

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)