MailOnline has created an interactive calculator to help you work out what Rachel Reeves’s £40billion tax bomb Budget means for you.
Whether it’s a stealth levy in the form of frozen tax bands, changes to your winter fuel payment or increases to alcohol duty, it can be easy to lose track of the Chancellor’s announcements – and how they will hit your wallet.
Find out exactly how much better or worse off you will be following today’s Budget using the widget below from money-saving tool Nous.co.
Simply enter how much you earn and how many working people there are in your household, before flipping the toggles based on your personal circumstances.
Greg Marsh, household finance expert and CEO of Nous.co, said: ‘Rachel Reeves’s Budget is bad news for working families.
‘A typical household with two average earners will be stung by stealth taxes to the tune of around £300 over the next two years.
‘On top of that people are now less likely to get a pay rise – business leaders have said the rise in employers’ national insurance contributions will make it harder to up people’s pay.
‘This is the last thing people need after years of soaring prices that have eaten into household budgets.
‘Inflation is down, but pressure on people’s finances isn’t going anywhere.’
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