The Budget 2011 - What It Means For Young Britain

Shadow Chancellor George Osborne:
"This budget has put fuel back into Britain!"

George Osborne promised a "neutral" budget.

For every give-away, there was a take.

Here are some of the main highlights of the budget that will affect young Britain:

EMPLOYMENT

Funding is to be put forward for 24 NEW technical colleges, as well as 100,000 NEW work-experience placements and 40,000 NEW apprenticeship schemes.

HOLIDAYS

All rises in passenger duty (the amount you pay) have been DELAYED.

FUEL

The price we pay at the pump has been REDUCED by 1p per litre EFFECTIVE IMMEDIATELY.

 The fuel duty escalator has been SCRAPPED and the planned rise of 4p per litre at the start of the new tax year (Monday 4th April) has been DELAYED UNTIL 2012.

TAXES

The current amount of money you earn before you start paying tax will RISE to £8,105 from APRIL 2012.

Communities Secretary - Eric Pickles:
 "This should help all the families that have been squeezed"

Council Tax is to be FROZEN across ALL COUNCILS in the UK, with OVER 40 seeing their council tax rate DECREASE.



PENSIONS

A NEW single tier scheme to be unveiled estimated to be worth £140 PER WEEK.


 But,with all these so-called give-aways, there are the "take-aways" to consider:


ALCOHOL & TOBACCO

The price we pay for a pint will RISE 2% ABOVE the rate of inflation, equating to roughly an EXTRA 10p.

The price we pay for a packet will also RISE 2% ABOVE the rate of inflation, equating to an EXTRA 50P.

THE ECONOMY

The amount of money the country will produce for 2011 has been DOWNSIZED from 2.1% to 1.7%.

The rate of inflation (the price we pay for groceries, electrical goodies etc.) will RISE from 4% to 5%.

Estimated amount of money it will borrow for 2012/13 was £91 BILLION,
 the revised figure is £101 BILLION.

There's one thing that we, the general public all learn from a very young age about borrowing:

You have to give it back sometime.

Labour Party Leader Ed Milliband:
"It's hurting, but it's not working."

Labour Party leader, Ed Milliband keeps repeating the catchphrase:

"It's hurting, but it's not working"

But with no clear-cut plan from his party, what choice do we really have?

Find how long it takes to hurt you using this 

budget calculator and post your results on the facebook page.