From £450 tax cut to child benefit changes, what the Budget means for YOUR finances
SINGLE mum Phoebe Evans says it would be “bonkers” for her to return to work — as she faces losing 74p in every pound she earns after last week’s Budget.
Social policy software and analytics company Policy in Practice’s Better Off calculator predicts that on a £20,000 annual salary, Phoebe would pay a marginal tax rate of 67.6 per cent for every pound once benefit cuts are factored in.Fans spot Fury's 'terrified' reaction after Joshua's explosive KO of Ngannou
But with the added cost of commuting and the loss of other perks such as free prescriptions and council tax support, Phoebe insists going back to work is unrealistic. “It needs to be easier, and providing more free childcare hours is only part of the solution. We need more support and help. “Our research shows that single parents who work full-time are more likely to be in problem debt, with increased childcare costs being the main reason for this.”
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