Rachel Clun,
Kris Bramwelland
Emer Moreau
Deborah Crowley
Chancellor Rachel Reeves has announced her Budget after weeks of speculation.
The changes include a freeze to income tax thresholds, a new electric vehicle tax, limits to tax-free cash savings and a so-called mansion tax.
BBC News has been hearing from people with a range of incomes on how they feel about the measures announced in the Budget.
If there are issues you would like to see covered, you can get in touch via BBC Your Voice.
Deborah Crowley, 63, works 33 hours a week in an NHS admin role. She recently sold her house and now lives with her son Stuart in Sheffield.
She is pleased with some measures in the Budget, including the reduction in the tax-free amount people can pay into their workplace pension.
“There are many people, I believe, who can afford the extra tax,” she says, adding “mansion taxes” on homes worth over £2m in England will help the NHS and local communities.
However, she is unhappy that the freeze on income tax thresholds was extended to 2031, as this means both she and her son will see a “back door tax increase” in that time.
Deborah is currently paid £20,000. Modelling from accountancy firm EY shows that if her pay rises in line with inflation, she would pay £871 more in income tax between 2028-29 and 2030-31 as a result of the threshold freeze being extended by three years.
She thinks instead of scrapping the two-child benefit cap, the chancellor should have introduced spending vouchers for larger families on universal credit.
How the chancellor just took a chunk out of your future pay’We make £100,000. The cut to cash Isa limit is a big blow’
Neal Stead and his wife Tara both work in administration – Neal in a contact centre, and Tara at a hospital.
With a combined income of about £100,000 and having paid off the mortgage on their Bradford home, Neal says they don’t have major financial pressures. But at 58, he is concerned about retiring.
He said he was disappointed that the amount of money that can be saved tax-free each year in a cash Isa (Individual Savings Account) will be reduced from £20,000 to £12,000 a year for the under-65s.
“That’s a big blow for me because I’m a saver and I’m coming up to retirement,” he says, adding he feels penalised for putting money away for a more comfortable retirement.
“The message I got was: spend your money, don’t worry about the future,” he says.
Neal feels the Budget had been sold as measures to tackle the cost of living but says, “I can’t see the cost of living reducing for me, only increasing.
“There will be less in my pocket than there was yesterday.”
According to EY, Neal and Tara would pay a combined £3,485 more in income tax between 2028 and 203
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