Wealthiest tenth of households are ‘overwhelmingly’ the biggest beneficiaries of Hammond’s budget tax cuts

Image result for Philip hammond rewards for the wealthy

The Resolution Foundation is a non-partisan think tank that works to improve the living standards of those in Britain on low to middle incomes.

The foundation’s initial comments on Hammond’s budget: 

The big print giveth and the small print taketh away.

Torsten Bell, director of the Resolution Foundation, says about the budget:

“In today’s budget, the chancellor has significantly eased – but not ended – austerity for public services. However, tough times are far from over.

The chancellor has set out plans to spend almost all of a very significant fiscal windfall on extra spending for the NHS, bringing to a close the era of falling overall public service spending. But unprotected departments are still on course for spending cuts into the 2020s – averaging 3% between 2019 and 2023.

The chancellor has also delivered a welcome boost to [‘hard working’] families on universal credit worth £630 a year.” 

Tomorrow the Resolution Foundation and the Institute for Fiscal Studies will both be publishing detailed assessments of the budget. I will be scrutinising these and commenting on them.

Jeremy Corbyn’s verdict:

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9 thoughts on “Wealthiest tenth of households are ‘overwhelmingly’ the biggest beneficiaries of Hammond’s budget tax cuts

  1. oh dear more crap to come from these the one thing the peoples want but quietly they giving it over to private contractors while holding back billions from the nhs how quaint are they

    Liked by 1 person

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