Analysis: The winners and losers from 2011 Budget

The government revealed their Budget yesterday and their financial plans for the next few years. With the public angry at the high cost of living, student fees, spending cuts and petrol prices at a record high, whatever the government did with the Budget was bound to anger some people.

Budget Winners:

First-time Buyers

First-time buyers will now get help to get onto the property ladder with a new £250 million shared equity fund, which will help with their deposits for new homes, and mean they can buy part of the homes and rent the rest.

Young People

Yes, unemployment in the UK is still rife, especially amongst young people. But the government and the Budget are trying to address that by offering 40,000 new apprenticeships and a total of 250,000 by 2015.

100,000 work experience placements will be made available for young people. It’s been reported that these will be unpaid, but if it’s a few weeks at a big corporation it could become a valuable experience.

If the placements are hands-on and you get to gain valuable experience, then this is worthwhile. If it’s shelf-stacking or making tea for weeks, then it’s a waste of time.

Some of these placements and apprenticeships will be in fields like plumbing, electrics and construction, which will be valuable if you are looking to gain practical experience when learning a trade.

Low earners

If you are on a low-income, then the Budget is good for you, as anyone earning under £8,105 won’t have to pay income tax.

Budget Losers:

The environment

Remember when the government got into power they claimed they wanted to be the “greenest government ever”? That’s all been scrapped now, as the government’s plan to make all new homes “zero-carbon” by 2016 is no more. The new homes will still be low-carbon, but not zero-carbon.

Paul King, CEO of the UK Green Building Council has described this as a “big step backwards” and the RICS (Royal Institute of Chartered Surveyors) have also hit out at the government’s decision.

Drivers

Yes, fuel duty has been cut by 1p a litre. Yes the planned fuel rises have been scrapped. But the new Budget has not solved the problems at the pumps. Fuel may be 1p/litre cheaper but it has just gone up by about 3-4p/litre in the last month and will probably continue to increase, as the taxes have been increased on North Sea oil firms.

The problems with petrol prices have not been solved (VAT on fuel will not be reduced), and the price of fuel keeps rising.

What are your thoughts on the new Budget? Let us know on here or on the Train4TradeSkills Facebook and Twitter pages.

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About Train4tradeSkills

Train4TradeSkills offer the only trade training skills courses that combine three great ways to learn, through a unique blend of book based theory, practical workshops and virtual reality PC based training, to help you qualify you as a plumber, electrician or gas engineer. No other learning provider offers our unique way to study, with full tutor support, easy to follow, step by step modules. Once you complete one part of the course and return your work for marking, the next stage of the course automatically follows. It’s as easy as that. It’s fun, it’s easy to follow... and it can be fitted around your existing work and family commitments!

Posted on March 24, 2011, in construction jobs, construction news, Electrical News, electrician jobs, plumbing, plumbing jobs, Plumbing News, train4tradeskills and tagged , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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