Budget 2021 calculator: What does it mean for you

Announcement includes changes to minumum wage, alcohol duties and a planned fuel duty hike

Zoe Tidman
Wednesday 27 October 2021 18:00
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<p>Sunak leaving 11 Downing Street, London before delivering his Budget to the House of Commons</p>

Sunak leaving 11 Downing Street, London before delivering his Budget to the House of Commons

Rishi Sunak vowed to help families to meet the rising cost of living and promised a “stronger economy of the future” as he revealed a host of changes in the 2021 Budget.

The chancellor announced a planned fuel duty hike would be scrapped and duty on UK domestic flights would be slashed in his statement to parliament on Wednesday.

Another key announcement was about changes to alcohol duties, which included a planned rise in duty on spirits, wine, cider and beer would be cancelled.

The Budget also contained a rise in the minimum wage from the current £8.91 to £9.50 an hour next year.

Extra funding was also announced for schools, childcare and “A Start for Life” parenting programmes.

Clearly, there is a lot to consider. But the online calculator below, created by accountants Blick Rothenberg, offers a quick reckoner as to how the latest raft of changes will affect you, broadly speaking.

Input a few details and it will offer an indication as to how much better or worse you will be following the chancellor’s announcements.

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