How does the Budget affect YOU? Use MailOnline’s interactive tool to find out the impact on income tax, energy bills, pension, childcare costs and MORE
An interactive tool released today will help MailOnline readers to digest while the various aspects of the Budget announcement today will mean for you.
It comes after Jeremy Hunt promised a major expansion in state-funded childcare and tax breaks for businesses in measures aimed at boosting economic growth.
The Chancellor said a recession would be avoided and inflation would fall dramatically as the economy was ‘proving the doubters wrong’.
He promised up to 30 hours a week of free childcare for people in England with children as young as nine months, instead of three and four-year-olds as it stands.
The phased policy, which will be fully introduced by September 2025 and aims to remove barriers to work, will be worth up to £6,500 a year for working families.
The Chancellor also said the energy price guarantee, which caps average household bills at £2,500, will be extended at its current level from April to June.
It had been due to rise to £3,000 in April and the cost of scrapping the planned 20 per cent increase will amount to about £3 billion.
The fuel duty freeze and the 5p cut will be maintained for another year, saving the average driver around £100.
Here, use MailOnline’s Budget widget – built in partnership with household finance management system Nous – to work out whether you will be better or worse off.
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