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Insights on money, career and trading

An Easy Guide to the UK Budget

Posted on May 19, 2015 by Daniel at 12:03 pm

If you’re anything like me, a lot of the time politics will go a little over your head. It’s tricky to make a decision as to which party deserves your vote because they all promise the earth, so how do you know who can deliver?

To me, it all seems to hinge on who can do what with the UK budget. All us working people in the UK pay taxes, so we should, in theory, all care enough and make an effort to find our what our money is being spent on – after all, we have enough taken from our wages each month!

If you do decide to make the effort to research into what each party promises to prioritise and spend the budget on, you need to remember that they can’t please everyone all the time.

My girlfriend’s an English teacher in a large comprehensive school and she HATES the fact nearly every party promises to reduce class sizes and, every year, they’re just getting bigger in he school. But, in order to reduce class sizes, more money would nee to be pumped into every comprehensive school to employ more teachers. If the money is spent on more teachers, what are we cutting back on? Or should taxes be raised in order to achieve this?

That’s basically the type of questions the government has to ask all the time. It’s like an epic-scale juggling act!

Obviously, if you’re a party making a promise to spend more on the NHS, you’re going to have to spend less elsewhere – so where will you make a cutback?

Budgets are tricky things to get your head around on a small scale, but I’ve found this really great infographic from Buddy Loans that gives a simple but thorough breakdown of where the UK budget goes – might make it a little easier to understand each party’s priorities!

The UK Budget

 

 

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Insights on money, career and trading