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
Devout Christian doctor, 68, who punched dementia
An 'arrogant' doctor who punched a vulnerable patient for making a racist comment and spitting at hi2024-05-21More than 100 killed while seeking aid in Gaza, overall death toll passes 30,000
By Nidal al-Mughrabi, ReutersThis image grab from a handout video released by the Israeli army on Fe2024-05-21EDITORIAL: Diet behind the times in dealing with same
In a ruling on a same-sex marriage lawsuit, the presiding judge of a high court made a sincere appea2024-05-21Taylor Swift's father Scott Swift allegedly punched Sydney paparazzo in face
By Greta Stonehouse, ABCTaylor Swift hugs Scott Swift at Gillette Stadium on 17 December 2023 in Mas2024-05-21What's next for Iran after death of its president in crash?
JERUSALEM (AP) — The death of Iran’s president is unlikely to lead to any immediate changes in Iran’2024-05-21Oscars 2024: Barbie's Greta Gerwig and Margot Robbie miss key nominations
By Steven McIntosh, entertainment reporter for the BBCMargot Robbie and director Greta Gerwig, right2024-05-21
atest comment