What do you want from the Budget? ‘I’m a single mum on £41,000 and limit my weekly shop to £40’

As Chancellor John Healey prepares to deliver his first Budget announcement, all eyes are on his plans amid a backdrop of rising government borrowing costs, which are reportedly at historic highs. Unlike previous years, there have been few leaks about the contents of the Budget, leaving the public and policymakers alike in suspense. This spotlight on fiscal policy comes at a crucial time for many citizens who are struggling with the cost of living and economic uncertainty. Healey’s approach to balancing tax increases or cuts, government spending, and welfare provisions will be pivotal in shaping the UK’s economic landscape over the coming year.

The Chancellor’s announcement takes place as a broad spectrum of individuals express their hopes and concerns about their personal finances and what support they might expect from the government. For single-parent families, like that of Chloe Chin-Saad, the rising costs of rent, energy, and council tax exert significant pressure. Chloe, a research practitioner working full-time, is managing to keep afloat despite her late husband’s passing and the responsibility of raising a son on her own. Although her housing costs are partially subsidized, her energy bills have nearly doubled, leading to strict budgeting on food and leisure. She is calling for targeted support, especially for single parents who do not currently access benefits but still face severe financial strain.

Another compelling perspective comes from Robert Portlock, a 29-year-old check-in agent living with his parents due to high rental prices. With a modest income of £22,000 a year, he finds it nearly impossible to save for his own home or afford the full costs of independent living. Robert’s financial outgoings are heavily impacted by his car expenses, which are essential for commuting but take up a large portion of his monthly income. His plea to the government is for reductions in fuel duty and income tax, or an increase in the personal allowance threshold, in hopes of making everyday costs more manageable and improving his chances of climbing onto the housing ladder.

Young people entering the workforce also face significant challenges, as exemplified by 19-year-old Emily Nelson. Having recently completed her A-levels, Emily finds that despite her efforts, employment opportunities remain scarce amid competitive job markets. Currently receiving universal credit, she advocates for expanded government initiatives such as increased funding for businesses to hire young workers, more investment in training programs, and the extension of schemes like the Jobs Guarantee. Emily’s story reflects the frustration and uncertainty faced by many young people today, with government policy playing a crucial role in determining their economic futures. Together, these voices highlight the urgent need for comprehensive policies addressing a wide range of financial hardships as the new Budget unfolds

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