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Payment protection refunds: Brits think Budget leaves them worse off

George Osborne may have spoken of an "aspirational" Budget when he announced his financial plans for 2013 last week but new research shows nearly half of consumers felt worse off following the Chancellor's statement.

Comparison website uSwitch found that 35 per cent of people believe the UK is more likely to fall into a triple-dip recession as a result of the Budget, whilst 45 per cent of people believe they will be worse off.

Few of Mr Osborne's measures pleased Britons, with three in ten (29 per cent) opposed to knock a penny off a pint and over half (54 per cent) of parents claiming new childcare tax relief is 'too little, too late'.

However, the majority of those polled (88 per cent) did welcome the rise in the personal tax allowance to £10,000 and freezing fuel duty has also proved popular with more than nine in ten (91 per cent) Brits.

"Homebuyers and small businesses may be jumping for joy following this week's Budget, but most of middle England has been left stuck in the mud," said Michael Ossei of uSwitch.

Anyone who has taken out a loan, credit or store card, mortgage or hire purchase agreement is likely to have been sold an insurance policy. Payment protection insurance (PPI) was one product which was mis-sold to significant numbers of people.

It could be a good idea to see if you have been a victim of mis-selling – with the average PPI refund standing at around £2,500, it could provide a welcome post-Budget boost.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801563129-ADNFCR



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