George's 1st budget

When George Osborne announced his first budget today, we were watching closely to see how the contents of the little suitcase of terror would affect the Furniture Re-use Network.

With child benefits being frozen and tighter controls on benefits in general,  a large proportion of our customers have been hit by the budget. Not all bleak, since the tax-free personal allowance on income tax will be increased by £1,000 giving 23 million people up to an extra £170 per year.  

Sadly, we can't say we were totally surprised with some of the measures. VAT hitting 20% unfortunately means less money in everyone’s pockets.  However we at SOFA Project hope this will provide the stimulus to encourage more people to start buying reused home furniture and appliances from stores like us, since we don’t charge VAT. 

Mr Osborne also plans to give efficient local councils extra funding, could this spell further deals to be done between members of the FRN and their local councils?

This could be a silver lining for us.......even if the silver is being taxed like crazy.

SOFA Project founded in 1982, provide new, nearly new & second hand furniture and home appliances to everyone but with further discounts available to those on benefits and low income.

We are one of many stores the make up the Furniture Re-use Network, click here to find your closest.