So the day we all dreaded results in a rise in V.A.T by 2.5% effective of January 4th 2011. Amongst other increases, today's budget sees the biggest package of tax increases and spending cuts in a generation.Income tax allowance is to be increased by £1,000 in April to £7,475. This is worth £170 a year to basic rate taxpayers.
There is no change to cigarettes, alcohol and fuel, however Labour's plan to increase the duty on cider by 10% above inflation will be scrapped from July.
To see all the changes visit the bbc news website.
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