some winners...

Motorists - the 3p rise in fuel duty due to come into effect in January 2012 has been cancelled.  The August rise has been cut from 5p to 3p.

Parents - 40% of 2 year olds are to get free nursery education.  At present, all 3 and 4 year olds are entitled to 15 hours of nursery education for 38 weeks of the year.

Commuters - Future rises in rail fares will now be capped at RPI plus 1%.

Pensioners - basic statement pension will rise by £5.30 to £107.45 in April.  Pension credit increased by £5.35.

Social housing tenants - will be able to buy their home at a discount of 50% under the new Right-to-Buy scheme.

Wealthy investors - with £100,000 to invest will be able to get 50% tax relief if they invest in small start-up business under a new enterprise investment scheme.  There will be no CGT to pay in the first year.  However the annual capital gains exemption threshold remains at £10,600.

and some losers...

Public sector workers - will get a pay rise capped at just 1% for 2 years fro 2013.

Older workers - the state pension age is to rise from 66 to 67 from 2026, 8 years earlier than planned.

Savers - got nothing in the Statement.  The combination of record low interest rates and inflation running at more than 5% is having an effect of rapid erosion in the real buying power of their money.

First-time buyers - stamp duty concession will end on 24 March 2012 as planned.  This concession had failed to increase the number of first-time buyers entering the market.

Young employees - will no longer have an automatic workplace pension by 2014.  The Government has delayed the date by which companies (with fewer than 50 staff) will have to start automatically enrolling employees in workplace pension schemes.

Young people - who put off saving for their pension can lose out substantially in retirement.  If you start at 22 instead of 25, your pension will have increased by 21% on payout.

Business jet-setters - as from April 2013 will be faced with Air Passenger Duty on flights taken aboard business jets.

 

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