First of all. I’m having trouble with the word ‘emergency’.
I don’t see what the emergency was.
I could understand it if George was coming to the rescue of the economy after the disastrous stewardship of someone else.
But he was following the footsteps of... George Osborne.
Anyway, moving right along, it was clever but then we know George is clever. He managed to park his tanks on Labour’s lawn, conveniently while they were arguing as to who would lead them to future successes.
The living wage, pinched from Boris, who pinched it from someone else, but who cares - that was a good wheeze. Getting employers to cough up more.
It has increased since the budget, after only a week.
Apparently £9.35 an hour is the figure by 2020. That equates to £18,232, based on an average 37.5 hour week. I don’t expect the tax free allowance will have reached that level, so more tax revenue for the Treasury.
Meanwhile reducing Tax Credits is remarkably popular with people who don’t receive them.
There aren’t many million pound homes in Newport, so I won’t get worked up about that Inheritance Tax reduction. Actually, he announced it in 2007, so he probably thought it was about time.
Elsewhere, no extra tax on booze or fags, and yet another cancellation of the fuel duty escalator.
All in all not much to get excited about. He taketh as he giveth away.
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