Chancellor John Healey will unveil his first Budget on Wednesday as the government faces borrowing costs at historic highs. The BBC interviewed people across multiple income brackets about their financial pressures and Budget priorities.
Chloe Chin-Saad, 40, a single mother earning £41,000 annually in south London, limits her weekly food shop to £40. She lost her husband four years ago and now lives with her 16-year-old son. Her fixed costs are substantial: £200 monthly for gas and electricity, £200 council tax, £250 car finance, medicines for rheumatoid arthritis, and pet insurance. She reports having as little as £50 left at the end of some months despite working full-time and not claiming benefits. She wants the government to provide tax relief or other support specifically for single-parent families.
Robert Portlock, 29, still lives with his parents in Gateshead because he cannot afford to move out. A small flat in his area would consume about two-thirds of his monthly wage before accounting for council tax, energy, food, and other essentials. His current largest expense is car finance, insurance, fuel and tax totalling £750 monthly for a 32-mile commute to Newcastle Airport. He wants the chancellor to cut fuel duty and income tax, or raise the personal allowance from £12,570 to £16,000. He says saving for a house deposit is impossible.
Emily Nelson, 19, completed her A-levels last year but has been unable to find work in the retail and sales roles and apprenticeships she has applied for. She wants increased government funding for businesses to hire young people and extension of the Jobs Guarantee scheme to those eligible after one year instead of 18 months on universal credit.
Dave Herbert, a professional driver aged 48, spends around £350 monthly on fuel for commuting 62 miles into Cardiff. He says fuel costs this year are 40 to 50 percent higher than at the start of the year. He calls the frozen fuel duty rate of 57.95p per litre since March 2011 misleading, saying the government is still taking money from drivers while claiming to freeze rates.
Jonathan Whitwam works in finance in Essex. His daughters are starting university with projected debts of £45,000 to £60,000 each, plus interest compounding at £5,000 to £8,000 annually. He wants the government to waive or cap student loan interest below 1 percent.