For this case study, we talk to young professional Michael Briggs about the impact the Budget will have on him.
Michael Briggs, a 30-year-old employment lawyer
Lives in Glasgow with his partner, Lauren McInally, an economist
Mr Briggs said the couple would benefit from the increase in the personal allowance threshold to £11,000, but did not yet earn enough to benefit from changes to the 40p tax band.
He said: "It's not the kind of thing you're going to say no to if it's a few extra quid, but I'm not going to be earning anything like £43,000 in the next couple of years. Maybe a wee bit further down the line, and likewise with my partner it's maybe something that's five years in the future or something.
"Personally I don't think I earn enough to really benefit from it [the Budget], but at the same time I'm not vulnerable enough to be severely disadvantaged by it. I'm kind of in the middle. Generally I think it could have been worse but, again, I think it just seemed to be an ideological he most vulnerable people in society and people who are in receipt of welfare.
"The idea of benefitting 'hard-working people' is obviously good, but at the same time I think the number of people choose welfare 'as a lifestyle' is negligible.
"It's not my experience that they're in that situation by choice."
However, Mr Briggs said he was interested in suggestions of an "ISA-style" pensions shake-up targeted at young people, who are increasingly unlikely to save towards retirement.
He said his only package currently is the new auto-enrolment scheme which employers are now obliged to provide for staff.
"Fewer and fewer people are looking to actually keep their money in a pension because it just doesn't seem to be worthwhile compared to sticking your money in other places, so I suppose that's something the Green Paper is trying to address.
"Anything that let's you keep an eye on your money is probably better because at the minute it seems you put it in the magical pension machine and you don't really know what happens to it until it comes out at the other end."
He welcomed the introduction of the living wage.
"I think it's probably going to be offset by the changes that they're making to tax credits but it replaces the burden from the taxpayer onto the employers, which is the way it should be.
"You hire people based on what your business needs, so while the business lobby will probably make a lot of the extra cost because they're trying to keep costs down and staffing is one of the main costs, in sectors which rely on the minimum wage like the service sector the cost will just be passed on to the customer.
"So it might mean a couple of pence extra on your pint or a cup of coffee, which I don't mind."
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