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50p tax – hero to zero?
“But the truth is not much enormous changed today beyond some loud political signalling. The growth and borrowing prospects are still, objectively, eye-watering” – Gary Gibbon on today’s budget speech.
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Nearly a third of new mothers go into debt due to taking maternity leave, while one in 10 cuts short their time off to ease financial pressures, a survey suggests.
“But the truth is not much enormous changed today beyond some loud political signalling. The growth and borrowing prospects are still, objectively, eye-watering” – Gary Gibbon on today’s budget speech.
• Top rate of tax cut to 45p from April next year • Child benefit cut-off point rises to £50K • Are personal allowances changes a ‘granny tax’? Read Gary Gibbon’s blog: 50p tax – hero to zero? 13.47: Ed Miliband compares the government to Downton Abbey, a story of the “out of touch rich”.…
Personal tax statements indicating how money will be spent and the scrapping of the 50p tax rate are expected as George Osborne promises Wednesday’s budget will be “for working people”.
Taxpayers are to to be given a personal statement telling them how much money is deducted from their earnings and what this is spent on, but they will not learn what they are paying in indirect taxes.
After a few days of watching the reaction to the reduction of the 50p rate, George Osborne may be having second thoughts about its complete abolition, writes Gary Gibbon.
A childcare charity’s survey finds childcare costs up almost six per cent, as it calls on the government to scrap changes to child tax credits which it says could push some families into poverty.
The government has overturned three of the seven amendments to its welfare bill proposed by the House of Lords last week. Further votes, including one on a benefits cap, are due later today.
Eighteen Church of England bishops have criticised the government’s welfare reforms, which they say will leave children facing “severe poverty and potentially homelessness”.
Stagnant wages coupled with cuts to benefits prompts the biggest slide in household incomes in 30 years, a respected economic think-tank finds.
It seems like yesterday they were dewy-eyed newlyweds. But seven months on, the odd couple of British politics would like it to be known they are at loggerheads about marriage, writes Gaby Hinsliff.
Our Economics Editor looks at Nick Clegg’s reassurances to “alarm clock Britain” – and questions whether the promise of £700-a-year tax cuts by the end of the Parliament is as reliable as the Deputy Prime Minister makes out.
As the Book Trust charity confirms the government will now help the book gifting programme continue in England, Samira Ahmed reflects on how to put a cost on the value of the scheme.
Secret recordings reveal some Lib Dem ministers are privately voicing concerns about Government policies they are backing in public, as one MP tells Channel 4 News the Coalition is doing good work.
The spending cuts in Ireland outlined by Finance Minister Brian Lenihan were “not a normal budget, but the environment in which it was delivered is not normal”, writes economist Dr Peter Stafford.