This week we’ve looked at the Budget and just what effect it will have on a Capgemini consultant. Given all the headlines we’ve seen this week about how we will now pay for the stupidity of the bankers, it’s surprising to see that this year we will actually be better off as a result of the Budget.
How come? Well, we had a quick look around the office and segmented our consultants into three stereotypical groups.
- Junior consultants: are single, 20/30 year-old, beer-drinking, Ford Focus-driving people who party hard,
- Senior consultants: are married, 30/40 year old wine-drinking, Volvo-driving types who are far too busy to party, and
- Vice Presidents: are divorced, 40/50 year old, hard-liquor drinking, sports-car driving people who are far too stressed not to party.
We popped all that into a simple tax-calculating model and found that they will all pay less tax this year than last, because the increases in alcohol and tobacco duty are off-set by the increase in their personal allowance. So is the pain set to come next year? Well, the even better news for the more junior consultants is that they’ll still be ever so slightly better off next year as well. Not so as you progress through the ranks though and, as expected, the top of the office will bear the brunt of the Budget. Overall this year and next, Capgemini Consulting consultants will add an additional £½m to Alistair Darling’s coffers thanks to this Budget – what a party we could have had with that!
Many thanks to Maddy Howarth for this week’s analysis and to Richard Able for the topic.
Have a good weekend.