Home Money Will the Budget cut taxes – and get rid of the child benefit and 60% traps? This is Money podcast

Will the Budget cut taxes – and get rid of the child benefit and 60% traps? This is Money podcast

by Elijah
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Will the Budget cut taxes - and get rid of the child benefit and 60% traps? This is Money podcast

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With the Budget expected to be the Chancellor’s last roll of the dice before the general election, expectations about the tax cuts are growing.

But which taxes might Jeremy Hunt choose to cut and why? Is there hope that it will solve the fiscal mess Britain finds itself trapped in?

The child benefit charge at higher incomes creates marginal tax rates above 50 per cent, while removing the personal allowance creates a 60 per cent income tax rate between £100,000 and £125,140.

Should these tax traps and the painfully high stamp duty be removed? In this week’s podcast, Simon Lambert argues that Mr Hunt needs to do a clean-up, throw a bunch of stuff into the stupid tax box and then throw it in the bin.

Simon, Georgie Frost and Lee Boyce look ahead to what could be included in the budget and what it would mean for you.

Also, in this week’s episode, energy bills will decrease as the price cap is lowered, but how much will this save you?

It’s not just taxes that are driving people crazy, student loans are also proving difficult to transfer as interest increases due to high inflation. Does the student finance system also need a solution? And what is Simon’s student loan triple lock plan?

And finally, don’t be fooled or kidnapped, Lee explains the new scams you need to know about.

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