How Would You Spend the Extra £45?

£45 a year extra? How would you spend it?

It’s budget day and the chancellor’s budget proposals will be officially released later today.

Cash notesVB will be bringing you updates later in the day, but in the meantime we’ve been pondering on something.

According to leaks in the budget proposals, 25 million people in the UK earning under £110,000 will be £45 a year better off due to a proposed change in the income tax threshold.

Assuming it’s not taken back off you by the government in other ways – and that you can’t use the extra money on the rising price of fuel, energy, food, transport etc. – how would you spend your extra £45?

Just fantasise for a moment and imagine you are truly £45 a year better off. What would the money go on?

Image: Howard Lake under CC BY 2.0

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Wednesday, 23rd March, 2011 9:08am

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ShortURL: http://wig.ht/45taxbreak

Filed under: Government, Island-wide, Isle of Wight News

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16 Comments

  1. wabbit's comment is rated +6 Vote +1 Vote -1

    23.Mar.2011 9:20am

    Catering cling film-gate crash someones stage night and cling film that person naked to a lamp post outside county hall,maybe a library or possibly a public toilet in the Carisbrooke area!!!With the change I would buy the people that help me a beer!

    Reply
  2. Asite2c's comment is rated +5 Vote +1 Vote -1

    23.Mar.2011 9:53am

    What this Government gives with one hand they take from another so the £45.00 is just a con. They will simply claw it back by cutting the money from Family and Working Tax Credits or by raising some other tax.

    These hypocrites in Government allow the greedy bankers and top executives to earn millions although tell us “We are all in it together”. What a load of bull.

    Reply
  3. Lilly's comment is rated +4 Vote +1 Vote -1

    23.Mar.2011 10:00am

    Well I’d try to be careful & balance my budget with it! Over a year that would amount to around 80 pence a week, and how much is this Libya venture costing the tax payer per week?

    Reply
  4. wabbit's comment is rated +4 Vote +1 Vote -1

    23.Mar.2011 10:08am

    When you say it as 80 pence a week it does sound very sad.I will swap my £45 for a 110k salary!Fair deal I say.

    Reply
  5. John R's comment is rated +4 Vote +1 Vote -1

    23.Mar.2011 10:26am

    Being as National Insurance contributions are going up by 1% for the employee and 1% for the employer we are still on a backward step.

    Reply
  6. adrian nicholas's comment is rated +3 Vote +1 Vote -1

    23.Mar.2011 10:30am

    y my reckoning on practical median incomes – most of those in the figures(rather than the much smaller % of that median who will benefit as quoted- will actually ‘gain’ around £15 pa- which doesnt equate to paying for inflated staples(50% by city speculation in last 8 months) and fuel/energy price hikes! This at cost of unemployment via public sector cuts to around 3.7 million , loss of education access, loss of legal aid and unfair dismissal tribunal rights, .. and destuction of the health service by privatisation and welfare cuts to most vulnerable with increased structural public revenue costs by longer term consequence.

    Reply
  7. Asite2c's comment is rated +5 Vote +1 Vote -1

    23.Mar.2011 12:05pm

    The liars of Whitehall also tell us there is not enough money to spend on public services although they’re prepared to spend 20 billion pounds or more on a new trident missile system.

    It’s obscene they are planning to spend this kind of amount on weapons of mass destruction, while at the same time cutting public services, creating poverty and ruining people’s lives.

    Reply
    • Janet Scott's comment is rated +8 Vote +1 Vote -1

      23.Mar.2011 12:38pm

      Having READ your fantasy Sally, £45 would be so easy to fritter away.
      I think I would buy several
      packets of veggie seeds,stay virtually self sufficient in garden produce,freeze some,eat some
      and give some away.
      I could blag some timber, build a chicken shed and
      rescue/re-home some battery hens…they only cost
      about £1.00 each. Then I would buy a few bottles
      of Vino, sit back and feel pleased with myself for
      beating inflation food wise and making £45 work for me.

      This all may sound boring but I do have a fabulous
      sea view to help me along. (that is until some
      unmentionable decides to tax my garden and view!)

      Reply
  8. seb's comment is rated +3 Vote +1 Vote -1

    23.Mar.2011 12:26pm

    i agree with Asite2c and any other sceptical posters.

    any small reduction in income tax will be clawed back via other tax increases etc.

    Reply
    • Steephill Jack's comment is rated +2 Vote +1 Vote -1

      23.Mar.2011 6:05pm

      I already lost mine with 4p on a pint of beer and 15p on a bottle of wine. I wont try to work out what that will be per annum because it will only upset me even more.

      Reply
  9. SueC's comment is rated +2 Vote +1 Vote -1

    23.Mar.2011 12:31pm

    Whilst I’m not pro this government particularly my reaction is to be thankful that there’s seems to be an extra £45. Set in the context of being able to live in a peaceful country, one that isn’t suffering from a natural disaster I’m just generally thankful.

    I know all won’t be able to do this, but my idea would be to use this as a pledge for Ventnor Winter Gardens – good luck today to the trustees.

    Reply
  10. Chris's comment is rated +2 Vote +1 Vote -1

    24.Mar.2011 8:34am

    Put it towards the increase in Council Rates, this year. I thought they had frozen them? :-((

    Reply

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