Was the Budget too little, too late
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
Revealed: The '18 DEMANDS' Muslim Vote group issued to Keir Starmer after dozens of pro
Pro-Gaza activists have dramatically issued a list of 18 demands to Sir Keir Starmer and threatened2024-05-07China sees smooth road traffic on first day of holiday
(Xinhua) 16:22, December 31, 2023BEIJING, Dec. 30 (Xinhua) -- China saw smooth road traffic Saturday2024-05-07Social media star revives interest in ancient Chinese writing
(People's Daily Online) 14:06, December 21, 2023A young social media star has revived interest in or2024-05-07Cable car accident: 174 people stranded in the air rescued in Turkey
ISTANBUL (AP) — The last of 174 people stranded in cable cars high above a mountain in southern Turk2024-05-07Nintendo to announce Switch successor in this fiscal year as profits rise
TOKYO (AP) — Japanese video-game maker Nintendo said Tuesday that it will make an announcement about2024-05-07China records its first use of terrestrial cable for power transmission between islands
(Xinhua) 10:47, January 06, 2024HANGZHOU, Jan. 5 (Xinhua) -- In ocean waters north of the city of Zh2024-05-07
atest comment