Budget 2014: Winners and losers

George Osborne may not have had much money to play with, but this year's Budget was certainly more eventful than most, with a raft of measures aimed at boosting, among others, Britain's savers, investors and pensioners.

Here's our rundown of who benefited the most from the 2014 Budget – and who lost out.



Meet the ‘nicer' Isa. From 1 July 2014 savers will be able to invest a total of £15,000 in a single Isa with no cash or stocks and shares distinction. It means both savers and investors can put more aside each year, tax-free.

Pension savers

Where to begin? Pensions are set to become a whole lot more flexible and no longer will you have to buy an annuity with your hard earned pension fund, meaning you will no longer be forced to accept a poor level of annual income in retirement. If you do decide that's the way to go, you'll get free independent advice.

Working parents

Almost two million families are set to benefit from new ‘tax-free' childcare, with savings worth up to £2,000 for each child under 12.


Over-65s will get access to higher savings rates with a new range of Pensioner Bonds offering rates of 2.8% over a year of 4% over three years. However, with limited funds available, we reckon you'll have to get in quick.


Beer duty is to be cut by 1p a pint and duty frozen on spirits and cider to support West Country cider producers, whiskey producers in Scotland and, of course, the British pub trade.


September's planned fuel duty hike has been scrapped. There will also be £200 million to repair potholes - one of UK motorists' biggest gripes.


Local councils

Changing all those parking meters and ticket machines to accept the new £1 coin is likely to cost local authorities in the region of £50 million, reckons the British Parking Association.

The squeezed middle

A stingy 1% increase to the rate at which earners pay higher rate tax this year and next spells more misery for middle Britain. As pay rises start to exceed inflation, thousands more middle earners will be sucked into the higher rate tax bracket.

Rich, property-buying tax-avoiders

Yup, the mega-wealthy who buy residential property via company will now face Stamp Duty of 15% on purchases of £500,000 and above. Few will shed a tear.

Insurance firms

Millions have been wiped off the value of some of the UK's biggest insurance companies, following George Osborne's announcement that it will no longer be essential for retirees to buy an annuity with their pension pot.


An easy target for policymakers – duty on cigarettes will rise at 2% above inflation until the end of the next parliament.


Bingo duty might have been halved to 10%, but duty on fixed odds betting terminals will be increased to 25%.

More about

Your Comments

Can someone please explain the benefit of halving the tax (duty) on gambling on Bingo?