Jeremy Hunt bounced around delivering his Budget, proudly declaring his commitment to tax cuts and supporting working families.
Another 2p was chopped off National Insurance and the threshold at which child benefit is removed was raised from £50,000 to £60,000.
But you don’t need to be a financial expert to know that the Chancellor’s version of events isn’t quite the whole story.
Because Mr Hunt is also presiding over a long-term stealth tax freeze to thresholds that is costing workers dear and his child benefit move merely kicked sky-high marginal tax rates down the road, rather than getting rid of them altogether.
Nonetheless, a tax cut and an extra £5,000 Isa allowance – even if it’s a slightly iffy, limited one – is not to be sniffed at.
So, was this an escape velocity Budget that puts Britain back on the path to growth?
Or was it too little, too late, from a Tory party that has sported successive Chancellors who have been keener to raise our taxes by hook or by crook rather than cut them – or even just keep thresholds in line with inflation.
On this week’s Budget special This is Money podcast, Georgie Frost, Lee Boyce and Simon Lambert look at the winners and losers and go searching for the devils in the detail.
What is the NI cut worth to you? Will you get some child benefit back? Did pensioners deserve a tax cut too? With a failure to reverse his capital gains and dividend tax raid, what has the Chancellor got against small investors?
And will the British Isa be any good?
All that and more – plus a look at why Nationwide is buying Virgin Money and whether that’s good or bad for us all.
Related articles:
Related suggestion:
Horoscope today: Daily guide to what the stars have in store for YOU2 hikers drown after falling into creek on Tennessee trailIsrael has offered Hamas a 40Sue Bird says joining ownership group of the Seattle Storm felt inevitableBillie Eilish announces 'Hit Me Hard and Soft' arena world tourUAB football team becomes first in NCAA Division I to sign with college athlete organizationKing and Queen jet back to London for publicConservative states challenge federal rule on treatment of transgender studentsKolkata Knight Riders limit Delhi Capitals to 153 in crushing IPL winBillie Eilish announces 'Hit Me Hard and Soft' arena world tour
2.9483s , 6532.7734375 kb
Copyright © 2024 Powered by Was the Budget too little, too late ,Stellar Standpoint news portal