Five ways the Budget will affect you if you are under 25
Source: BBC ·
The chancellor announced a series of measures which will impact under-25 year-olds from housing to minimum wage.
From the source
Tax and spending decisions by the government may feel distant to your everyday life, but many of the Budget announcements will have a direct impact on you and your money. Here are five ways the Budget will affect you if you are under-25. If you are an 18-to-20 year-old earning the minimum wage, your pay will go up by 3.9% from next April. Despite the increase, this may be a lower rise than you had expected. That is because Healey reversed course on how his Labour predecessor, Rachel Reeves, had been uprating the minimum wage for young people. Labour had promised to do away with "discriminatory age bands", which would have equalised the minimum wage for everyone over 18. This year, 18-20 year-olds will see the same increase as older workers, meaning the disparity will remain. So for 18-to-20 year-olds, your pay will rise to £11.27, while over-20s will be paid a minimum of £13.21 an hour. Incredibly, the increase also means a 21-year-old working full time on the minimum wage who took…