AMID Jeremy Hunt's crowing about cuts to tax and National Insurance, the grim reality yesterday dawned that millions of us will still be worse off.
Analysis showed households already struggling are to be £1900 a year poorer by 2025. Economists also warned this Parliament is on course to be the first where disposable income falls, by 3.1 per cent.
But once again a Tory financial statement benefits the rich.
Research by the Resolution Foundation yesterday found around 40 per cent of the gains from Hunt's tax and benefits measures will go to the wealthiest 20 per cent.
They would gain £1000 on average, while the poorest fifth get a measly £200. On Wednesday, the Chancellor unveiled "the biggest tax cuts since the 1980s".
This story is from the November 24, 2023 edition of Daily Record.
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This story is from the November 24, 2023 edition of Daily Record.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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