Crunch! Things are changing in the UK as we try to pay off our national debt. Today the Chancellor, George Osborne, announced reform to child benefit, so that those paying top rate tax will not receive child benefit from 2013. That means if one parent in the family earns more than £44,000 a year - they won't receive the benefit. Sounds pretty fair to me as surely those who are less well-off shouldn't be subsidising the cost of raising a family for the wealthier.
And earlier in the year, during his emergency budget, Osborne announced, amongst other things there'd be an increase in VAT - up from 17.5% to 20% from 4th January 2011.
The stark fact is our nation's deficit is £149billion!!! That calls for real belt and braces action.
And the PM, David Cameron claims that an overhaul to the welfare system is very much on the cards. He's hoping that no-one will be in a position where it pays more to be at home than at work.
There's also changes to the workplace as well, that to be honest seem a bit ill-thought-through. It seems like everyone's got a claim to be a victim under 'The Equality Act 2010', and businesses could be hit hard as a result according to Duncan Bannatyne.
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