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What Spalding shoppers thought of the Budget

William Telford thinks the budget doesn't cater for young people

William Telford thinks the budget doesn't cater for young people

People on the streets of Spalding say it was a Budget for the older generation.

The new pound coin is reminiscent of a threepenny piece and soon it will be easier to access pensions.

William Telford said scrapping the 10p tax rate on savings up to £5,000 and an added £500 allowance on the income tax threshold are the only points which affect everyone.

He said: “It seems to me, and I’m cynical about it, that they’re for the old and the people who are more likely to vote.”

There was also a tax free boost on ISAs, increasing the yearly limit to £15,000, but Andrea Wilkins called the Budget “a load of rubbish” and said it only helps those who are better off who have money to pay in.

Stephen Cleary called the Budget “pretty fair”.

Tobacco duty will rise by two per cent above inflation for the next six years. Stephen is a smoker and sees it as merely another penalty for having the habit and it won’t make him quit.

He said: “It’s just a safe bet to bang duty on cigarettes.”

Baden Pannell wasn’t impressed either and said: “I think the pension is a bit of a joke.”

From April 2015, pensioners will be given total freedom over how they withdraw money. The changes also mean having an annuity is optional, and they will be arranged on individual terms. Baden is concerned people will take cash out and still live on benefits.

The Chancellor mentioned welfare spending too, capping it at £119billon.

Baden said the freeze on fuel duty for the fourth consecutive year is good news for local people living in rural areas who rely on driving.

David Wright said the Conservative party has secured his vote. He likes the new pound coin, which is designed to cut the number of fake pound coins in circulation.

David said:“As a pensioner I think I’ll get more help with savings too.”

Charley Wright said: “I like the way things are going. I’d love to open an ISA and opt out of my work based pension.”

He’s come across fake pound coins, when parking and fruit machines decline them.

 

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