‘What does the Budget mean for me?’ – UK’s most Googled Budget question

Some of the most Googled questions about the Budget include ‘what is non dom status?’ (Tim Goode/PA)

Jeremy Hunt’s spring Budget was unveiled on Wednesday, with measures including a 2p cut to the rate of national insurance and the extension of the alcohol duty freeze until February 2025.

The financial jargon seems to have left people with many questions, which include how the Budget will affect them, what non-domiciled (non dom) status is and what national insurance is and pays for, according to Google.

Here, the PA news agency provides answers to the UK’s most searched questions.

Budget 2024 — Mr Hunt’s Budget left many with questions about how they would be impacted by the announcements (Stefan Rousseau/PA)

– What does the Budget mean for me?

Over the past 24 hours, there has been an 850% increase in people trying to find an answer to how the Budget will affect them.

The answer to the question will be different depending on the situation of the person asking it, but here is a brief run-through of who the potential winners and losers could be.

– Winners

Winners include workers, as Mr Hunt’s 2p cut in national insurance could save the average worker £450 a year, adding up to a £900 saving for 27 million employees when combined with a cut last autumn, as well as drivers – as the freeze on fuel duty has been extended for a further year.

Child benefit recipients are likely to benefit from Mr Hunt’s measures as it was announced there would be an increase to the threshold at which the high income child benefit charge starts to be charged, from £50,000 to £60,000, from April.

The threshold for VAT registration will rise from £85,000 to £90,000 from April 1, which is likely to help small businesses.

The Treasury said: “We should reward smaller businesses who make a big impact on our society and employ millions of people.”

– Losers

Vapers have been one of the groups targeted in the Budget, as the Government announced it would be introducing a new tax on vapes in a bid to discourage non-smokers from taking up the habit.

While workers are set to benefit from the 2p cut in national insurance, pensioners and those whose income is unearned are set to lose out.

Another group who is set to lose out from Mr Hunt’s latest measures are non doms.

The special tax status for non doms in the UK, which allows them to pay tax on only their UK earnings, will be abolished.

It will be replaced with a simpler system from April 2025, which Mr Hunt said would be more generous for the first four years, with non doms having to pay more tax after that point.

– What is non dom status?

This is one of the top trending questions overall in the UK in the past 24 hours, having increased by 600% compared to the previous 24 hours.

Downing Street Christmas Tree lights — Rishi Sunak’s wife is a non dom (Victoria Jones/PA)

Short for non-domiciled status, the terms refers to a UK resident whose permanent home – or domicile – for tax purposes is outside the UK.

It refers to a person’s tax status, but has nothing to do with their nationality, citizenship or resident status – although it can be affected by these factors.

Prime Minister Rishi Sunak’s wife, Akshata Murty, is one of the most high-profile non doms.

After details of her status were revealed, she said she would start paying UK tax on her earnings generated outside the UK.

– How much is child benefit/how to claim child benefit?

Child benefit is the second top trending topic in the UK overall, having increased by 550% in the last 24 hours, with many trying to uncover how to claim it and how much they can expect to receive.

According to the Government website, a person can claim child benefit if they are responsible for a child under 16 (or under 20 if they are in approved education or training).

Child Benefit is paid at a weekly rate of £20.70 for the first child and £13.70 for each additional child.

– What does national insurance pay for/what is national insurance?

National insurance was a popular topic of interest following the Budget, with searches ranging from what it is to what is pays for.

The most searched question – ‘what does national insurance pay for?’ – saw a 150% increase over the past 24 hours.

According to the Government website, people pay national insurance if they are 16 or over and are either an employee who earns more than £242 per week from one job, or is self-employed and makes a profit of more than £12,570 a year.

It is used to pay for the NHS, unemployment benefits, sickness and disability allowances and the state pension.