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Money Box: The Revolutionary Budget

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21/03/2015

The Revolutionary Budget

BBC Radio 4 - Money Box, The Revolutionary Budget

Regulator acts against airlines, budget news on savings and help for first-time buyers.

Personal finance news. Paul Lewis and guests unpick the detail of some of the Budget's big announcements. What does it mean for savers, taxpayers and first-time buyers?

A Moneybox exclusive reveals that two airlines could face unlimited fines if they continue to refuse compensation to some passengers who have been delayed more than three hours. 

The Civil Aviation Authority has written to budget airlines Jet 2 and Wizz Air to warn that if they do not sign an undertaking to pay the compensation due under European law it will get a court order to force them to do so. Defying that would be contempt of court.

Plus, Paul Lewis and guests discuss the best bits of Budget 2015 and what it will mean for the money in your pocket.

It's been billed as a 'savings revolution.' From April 2016 most people will no longer pay tax on their savings outside an ISA. Up to £1000 of the interest on savings will be tax free. Sylvia Waycot from Money Facts and Andrew Oxlade from the Telegraph unpick the details.

There's savings help for first time buyers. A "Help to Buy ISA" will be launched in the autumn to encourage those looking to buy their first home to save up for a deposit. The Government will chip in too.

The end of the paper tax return was announced by the Chancellor. And it was also 'goodbye' to class 2 National Insurance Contributions. For detail on those and other tax changes Robin Williamson from the Low Incomes Tax Reform Group speaks to the programme.

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