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The Budget : How it affects your clients

Nick Hussey reviews changes in the Budget (9.3.1999) that could affect you and your elderly clients

1 March 1999

The Budget - How it affects your clients

Nick Hussey reviews changes in the Budget (9/3/1999) that could affect you and your elderly clients.

On the face of it this budget was very good news for the majority of the UK's elderly population. The chancellor announced 3 major changes which will cost an estimated £3bn:

1. An increased tax threshold for older people;

2. A minimum weekly income of £75 per week for the poorest pensioners;

3. An increased "winter fuel" payment of £100 for all elderly households.

The Chancellor estimated that these changes will make the average pensioner £240 per year better off. There was disappointment, however, that the chancellor choose to increase these benefits rather than simply increase the basic state pension.

The extent and implications of much of the Chancellor's proposed changes are at this stage (March 10th) very difficult to fully quantify however some of...

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