Budget 2007

[ewx]

[Poll #951035]

My back-of-the-envelope calculation suggests that the break-even point is around £18,600: you win by about 2p on every pound you earn above that, and lose below it.

There are benefits changes at the bottom end which presumably ameliorate the doubling of 10% rate to some extent (e.g. working tax credit) but I'm afraid I don't know how those benefits work, so if you're affected by those you'll have to work it out yourself.

Comments

[pseudomonas.livejournal.com]

My intention is to be a student on a tax-exempt stipend for quite a while following the introduction of this, so I'm unlikely to be affected by this. If they move towards cutting income taxes and raising other taxes (say fuel duty) I'd be in rather more trouble, (although not as much as pensioners would be).