Welcome!

News Feed Item

Average UK Spend on Alcohol to Increase by £19.76 a Year and Cigarettes Will Increase by £69.06, Following Today's Budget

LONDON, March 19, 2014 /PRNewswire/ --

Money Dashboard shows exactly how the Budget will affect UK spending on alcohol and cigarettes

George Osborne's latest round of tax increases on alcohol and cigarettes will cost the average drinker an extra £19.76 and a smoker £69.06 each year. This is according to research announced today by smart account aggregation service Money Dashboard.

Money Dashboard has analysed the spending of 20,000 users to work out the current UK average spending on alcohol and cigarettes and how today's Budget increases will affect it over the course of a year.

For Alcohol:

  • The average UK spend on alcohol was previously £1,708 per year. Following the 2014 Budget, this will increase only at the rate of inflation to £1727.76 - a yearly increase of £19.76. Beer drinkers, who saw a 1p cut per pint, will save on average £5.63 per year.

For Cigarettes:

  • The average UK spend on cigarettes was previously £565 per year. Following the 2014 Budget, this will increase to £634.06 - a yearly increase of £69.06.

For Fuel:

  • The average UK spend on fuel was previously £2,017 per year. Following the 2014 Budget at the rate of inflation, this will increase to £2,055.32 - a yearly increase of £38.32.

Money Dashboard has also created four dashboards to visually show exactly where government spending goes and how this has changed over the past four Budgets. With these dashboards, the government's increased spending on healthcare by £3bn is easier to understand.

High-resolution dashboards are available here.

Gavin Littlejohn, Founder and CEO of Money Dashboard comments: "With taxation on things like cigarettes and alcohol increasing, your average consumer will need to look long and hard at their finances to see where these additional costs will come from. Whilst a 2% increase in tax on cigarettes above inflation may not sound like much, over the course of the year, it could in fact jeopardise the chance to buy that dress or suit you've had your eye on.

Using data from real users we are able to demonstrate exactly how the Budget will impact on UK consumer spending. Having complete visibility of your expenditure, from all your bank accounts, will be key to managing your money and tracking where it goes each month and over the course of a year."

About Money Dashboard:

Money Dashboard is the UK's leading smart account aggregation service that allows users to view spending across multiple accounts, automatically tag spending into different areas and budget for the future. Money Dashboard is a free online service that allows users to:

  • Aggregate: all of their finances into one place by linking different accounts including savings, current and credit cards, no matter which bank they belong to. Money Dashboard provides users with an overview of their finances all in one place.
  • Intelligently Tag: all of their financial data. Money Dashboard automatically categorises income and expenditure into groups and tags such as 'household', which is then further subdivided into 'electricity' for example, to make sense of your financial transactions.
  • Visualise: financial data by creating simple graphs and pie-charts that show users exactly where money goes each month.

Money Dashboard makes your financial life easier. Whoever you bank with, all your current, savings and credit card accounts come together giving you a clear picture of exactly what's happening with your money. Launched in 2010 Money Dashboard has become one of the largest account aggregation services in the UK.

 

SOURCE Money Dashboard

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for s...
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
"We are a custom software development, engineering firm. We specialize in cloud applications from helping customers that have on-premise applications migrating to the cloud, to helping customers design brand new apps in the cloud. And we specialize in mobile apps," explained Peter Di Stefano, Vice President of Marketing at Impiger Technologies, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.