News

23/03/2012 13:19:33

Budget 2012: Half of Britons feel worse off

Over half of Britons (53 per cent) think they will be worse off following the Budget announced by chancellor George Osborne on Wednesday (March 21st).

Research from uSwitch.com found that 55 per cent are now feeling less confident about their finances and 57 per cent disagree with the chancellor's decision to cut the 50p tax rate for high earners.

However, respondents were more enthusiastic about the increase to the tax threshold, with 92 per cent approval.

Ann Robinson, director of consumer policy at uSwitch.com, said that it was encouraging to see consumers taking charge of their financial planning.

"It's good news that some households will try to take matters into their own hands by taking the opportunity to review their own budget, as well as changing habits which could save them money."

The National Association of Estate Agents said that budget-week has delivered a "double whammy" to first-time buyers.

A lack of help for lower and middle-income households and the end of the Stamp Duty holiday mean that there is very little currently on offer to support FTBs.