I am so pleased that the wealthy got something nice in the budget when they so often get overlooked. After all, they must be suffering in the cost of living crisis and deserve the abolition of the highest tax band. Arguments that it is those less well off who keep the economy of the nation running are ‘solved’ by giving most people a tax cut that will be swallowed up by rising prices of food and fuel. Okay, I am being sarcastic.
My fear is that the less money people have, the less they can spend in the economy, which means that the recession we face will be longer and harder. Let alone the job losses as businesses have to deal with less revenue from a cash starved population.
Bankers however will no longer be bound by the wage restraints that the rest of the nation has to abide by. Basically this is a budget by the rich for the rich or at the very least, looks like one.
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