Budget 2011

So, today was the day. Mr. Osborne officially announced the latest changes, cuts and rises in the 2011 Budget.

We have been following the activity, mostly via BBC News, as they have a comprehensive section dedicated to all things Budget.

In terms of work we think the best news comes of the announces "extra 40,000 apprenticeships for young people out of work" and "funding for 100,000 new work experience placements".  This is really positive for young people as the current unemployment rate is over 20%. We hope that with the support from Government, more companies will be offering more opportunities - a great way to get a foot in the door or train for something completely new.

When it comes to money matters we are seeing no immediate income tax rises and a further increase on personal allowance (the amount you can earn, before tax) of up to £8,015, which will come into effect as of April 2012. This will mostly benefit people on a lower income.

There is plenty more to digest, of course, for example inflation rate is set to stay between 4% and 5% this year (good news for savers). So, you may want to take the time to calculate how all the changes will impact you. 

Have you been following the budget today? What have been your thoughts?

In the meantime, if you would like some extra support in your job search, contact us for a FREE copy of the GradGuide2010.