We all have money worries at the moment as Britain claws its way out of recession. And the effects were felt in Chippenham as much as anywhere else with shops closing, businesses failing and the queues at the Job Centre growing.

But what will the new Lib/Con coalition mean for your money?

As David Cameron settles into Downing Street Britain is waiting with bated breath to see what his new coalition government with the Liberal democrats will do for the UK economy in order to cut the deficit and speed up the recovery.

Here's a round-up of some of the main features of their newly amalgamated manifesto.

Firstly, an emergency budget will be held within the first 50 days of the new government so new Chancellor George Osborne can outline their financial plans for the next year.

Already we know that this will include proposed public spending cuts of £6 billion in an effort to accelerate a reduction of the national debt.

The budget is also likely to include plans to shake up the banking sector with plans to implement a new banking levy and an independent commission to look at separating retail and investment banking.

The proposals from the new administration also include a substantial increase in the capital gains tax (CGT) from its current 18 per cent to a figure likely to be around 40 per cent. This is so they can fund a cut in income tax for lower earners offering a relief on the first £10,000 of earnings.

But there is speculation that this could mean a hike in VAT from 17.5 per cent to 20 per cent in order to pay for the income tax cuts.

The Lib Dem plans for a tax on homes worth more than £2 million has also been scrapped, and in a compromise the Conservatives have dropped their pledge to raise the inheritance tax threshold to £1 million.

Child Trust funds will also be cut for higher earners and pensions will be linked back to earnings, with the minimum retirement age rising to 66 eventually.

As he entered Number 10 last night new PM David Cameron said: “We have some deep and pressing problems, a huge deficit, deep social problems and a political system in need of reform.  For those reasons, I aim to form a proper and full coalition between the Conservatives and the Liberal Democrats.  I believe that is the right way to provide this country with the strong, the stable, the good and decent Government that I think we need so badly.”

He went on to say: “I want to make sure that my Government always looks after the elderly, the frail, the poorest in our country.  We must take everyone through us on some of the difficult decisions that we have ahead.”