Martin Lewis✓

Just done my interview with Chancellor. Covered fiscal drag, Plan 2 student loans, state pension, heating oil, carers allowance, other cliff edges and more. I only get 15mins, but think managed a decent range of questions. Will try to get as much in show as poss (7pm ITV)

Reminder, @ITVMLSHOW Budget special has been extended tonight, it is not starting at 7:15 as in the listings, join us from 7pm to 8pm. I will be explaining the practical step-by-step and putting your questions to the Chancellor.

In the Budget, the Chancellor mentions looking into setting up a new starter investment ISA incentive. There's been some discussion about what it means. We don't have much detail yet, but my suggestion was not for a new ISA. The ISA regime is already complicated. It was that first-time investors in a shares ISA should get a bonus on the money they put in. This is something I first suggested to Rachel Reeves (and repeated to John Healey), when she was discussing removing the cash ISA allowance to 'not to raise revenue but to get young people to invest'. I though it would be better to use a carrot rather than a stick. As a totem, it would be a bonus of, say, 10 or 15% on the first £2,000 to £3,000 - though research needs doing on what the sweet spot is. Some investment firms do offer intro bonuses at the moment, but it's patchy and marketing-driven. If you built it as a set allowance, people would understand it's constantly available, and it would be easier for someone like me to communicate without having to get involved in undue prominence for specific deals. The concept is simple. Many people are risk averse and don't invest. But if you're putting money away for more than five years that you don't need, in a broad spread of investments, it should hopefully substantially outperform savings. The idea is to give nervous first-time investors an incentive to dip their toe in the water, knowing that because of the bonus - they've got wriggle room that if things did fall in the short term, they could still have more than they put in. That was the concept. And that way, once they get used to and it, some will be willing to continue and use the rest of their shares ISA, if they're lucky enough to have the money. Plus if combined with easy starter system that include basic investment education it could be a really powerful way to get more young people on the investment track. I hope it comes to fruition and the investment sector adopt it. In many ways, what it's doing is standardising the minimum marketing incentive for a new first-timer, which firms occasionally offer anyway. As long as they're offering that minimum, they could say they're doing the official starter investment scheme. And if it's organised right, there's potential for it to be funded by the investment sector rather than by the state. I hope you'll think it's worthy of the discussion.

RT @MartinSLewis: I've just drawn tmy scrappy version of the new state pension tax allowance that starts April 27 to send to the designers for graphics for my show tonight (7pm, ITV). It will look far better then, and I'll be able to give you an easier explanation. But let me try and do it here too. Column 1: Someone with income equal to the full new state pension. It can come from any earnings. They're about £470 above the normal tax free personal allowance, so they'd normally pay £94 in tax. But the new pension tax allowance means that £94 isn't paid. So there's no income tax at that level or lower earnings. Column 2: Someone earning £99 more than that. For every £3 you go above the threshold, you lose £1 of the tax-free allowance. At £99 over, they lose £33 of it. They'd normally pay £113 in tax. But they still get £61 of allowance (£94 minus £33). So £113 minus £61 leaves £52 to pay. Column 3: The point where the allowance has gone altogether. You simply pay tax as anyone not of state pension age would.

RT @MartinSLewis: My instant Budget reaction – everything you need to know at speed (feel free to share). Tax, ISAs, first-time buyers, Energy bills, fuel duty, State Pension, Investments, Savings, Student Finance and more. (Subtitled version coming soon, wanted to get it out quick) #Budget2026

RT @champster9: @MartinSLewis Hey Martin..noticed an uptick of tweets on my timeline ((for you version) critical of the drop in standing charge for gas decision. Just an fyi but it seems someone is not happy and paying ££ for the algo tiemline

Bed awaits hurray! Just finished first half of my graphics for tomorrow night's show and some of my questions for the Chancellor. Thanks for all the engagement today - mostly pretty kind (but this is social media ;) See you tomorrow.

RT @MartinSLewis: What does the budget mean for you. A Martin Lewis podcast special, tax, energy bills, savings, investments, first time buyers, state pensions, drivers, and more. Do listen And elsewhere

Need a briefing on your commute now or in the morning in 30mins this should take you through all you need to know (or 15mins if you listen at double speed ;) )

A welcome change to the First Time Buyers ISA due to launch in 2029. The original plans meant you only get the 25% bonus on the contribution not interest, we and many others said this was a downgrade. Now at exchange you get a 25% on everything in your account up to £20,000 (so £5,000 max bonus). #budget2026

On a train heading north to interview the Chancellor tomorrow morning. Being sat on the floor by the loo (even though itv had got me a 1st class ticket so I could be sure if a table to work on) isn't exactly assisting my prep. Prior train was canceled so this is double up.

Just got a seat further down the train. Thanks very much to the conductor who came to tell us about the one spare seat and my other corridor chaps, who I'd been talking to, who said I should take it to get this work done.

Subtitled version here:

Do feel free to share this with anyone who wants a quick run down of the practicals in the budget.

SHOW NEWS! So much to explain in tomorrow's @itvMLshow (as well as putting your Qs to the Chancellor). ITV has just extended my budget special so we're now on from 7PM TO 8PM. Do watch or at least set the Betamax

RT @MartinSLewis: GOT BUDGET QUESTIONS FOR THE CHANCELLOR OR ME? Tomorrow we've an @itvMLshow special 7:15pm. I'm interviewing Chancellor for it in the morning. To suggest a Q for him or practical explainer from me on budget CONSUMER FINANCE pls reply asap & note who the Q is for. #Budget2026