From 1 April a raft of costs has increased for consumers and businesses which will leave a family with a £50,000 income £700 a year worse off. Television, broadband and mobile contracts could go up by as much as 17% as they are linked to inflation. The £400 energy bill discount from the government ends this month and most local authorities will increase council tax by 5%. The cost of NHS prescriptions, stamps and water bills will also rise. For businesses with profits over £250,000, corporation tax has increased from 19% to 25%. On the flip side, most benefits including universal credit and pensions will rise in line with inflation. The national minimum wage, for those over 23, will rise by nearly 10% to £10.42, the biggest annual cash hike in the wage's 24-year history.