Budget today: some good news

Today`s Budget is expected to contain some good news as well as bad. The Chancellor, George Osborne, won`t actually deliver the Budget until this afternoon, but that doesn`t mean it`s all kept secret up until then.

One of the positive points we can expect is an increase in the personal income tax allowance - the amount people are allowed to earn before they start paying income tax on it. It`s expected to increase by around £600 next year, meaning basic rate taxpayers should be £45 better off on average.

When it comes to housing, some first-time buyers can expect help - around 10,000 of them could benefit from the £250m set aside to help them buy a new property. This should also help the construction industry.

It`s thought Mr Osborne will also announce that he`s scrapping the increase in fuel duty planned for April.

These aren`t the only points, of course, and against today`s `economic backdrop`, the Budget certainly won`t be good news all the way through. We`ll know more when he starts delivering the Budget at 12:30 today.

---

Gregory Pennington offer debt advice and debt management plans, as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.