Our online political editor Dan Bloom will be discussing the ‘mini-budget’ on the Daily Mirror’s Facebook page from 1pm on Thursday, along with consumer expert Lynn Beattie, who runs Mrs Mummypenny’s blog.
Chancellor Rishi Sunak just made his spring statement – and it couldn’t have come at a more crucial time.
Just hours before Mr Sunak addressed the House of Commons, Inflation rose to 6.2% – a 30-year high expected with further increases.
But did the spring declaration go far enough to ease cost pressures on families?
Or should more be done to help working Brits?
To help you figure out what it all means for your money, join us LIVE on Thursday (March 24) as our experts analyze the Spring Statement.
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Our online political editor Dan Bloom is joined by consumer expert Lynn Beattie, who runs Mrs Mummypenny’s blog Daily Mirror Facebook Page from Thursday 1 p.m.
We’re taking your questions live – you can do this by leaving us a comment during the one Facebook Live – or you can email us at email@example.com.
We’d like to hear your thoughts, including whether you’re happy with the announcement or if it doesn’t help you at all.
Let us know if you think something has been missed, or if you think there is a better way to weather the cost of living crisis.
Our cost of living Team of experts is here to help YOU through a very difficult year.
They bring you the latest money news and also offer expert advice.
Whether it’s skyrocketing utility bills, the cost of weekly groceries, or increased taxes, our team is always by your side.
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Measures announced today by Mr. Sunak included a 5 pence per liter less fuel consumption at a time when petrol prices are rising.
Fuel tax is included in the price drivers pay at the pumps, with VAT at 20% added to the total price.
The price will be reduced from 57.95p a liter to 52.92p from 6pm tonight until March next year.
The Chancellor also confirmed this today Raising the threshold at which people start paying Social Security around £3,000 this year.
The new level will be £12,570 from July and comes on top of a 1.25 percentage point increase in Social Security from April.
In the meantime, Income tax will be reduced by 1 pence – a drop from 20p to 19p in the pound – the first reduction of this kind in 16 years.
This is a tax you pay on your income. At the moment you pay nothing on income up to £12,570 a year if you are a ‘property taxpayer’.
However, the cut will not take effect until April 2024 – meaning it will bring no relief to families currently struggling with the cost-of-living crisis.
https://www.mirror.co.uk/money/join-live-experts-explain-what-26540314 Be there LIVE as our experts explain what Rishi Sunak's spring statement means to you