Gary Gibbon
“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.
“Is a true Briton to have no privacy? Are the fruits of his labour and toil to be picked over, farthing by farthing, by the pimply minions of bureaucracy?”
In the weeks before the budget, the debate focused on one issue. If the government cut the 50p tax rate, as they had threatened, would the budget end up being dismissed as a giveaway for the rich?
Certain kinds of working families will lose almost £60 per week of child benefits and working tax credit from April.
Channel 4 News Political Editor Gary Gibbon considers the negotiations that have gone into the expected announcement on the 50p tax rate.
As George Osborne announces changes to child benefit, Channel 4 News explains what it means for you.
Chancellor George Osborne cuts the 50p rate of tax to 45p from April 2013 and announces changes to his plans to withdraw child benefit from all 40p taxpayers.
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.
Channel 4 News learns the number of British bankers leaving the UK for Switzerland fell by 16 per cent in 2011, despite claims the 50p tax rate would encourage wealthy financiers to leave the country.
Jon Snow
Never before has there been so many Budget leaks, and discussion of what tomorrow’s Budget will hold. But is it a sign of a more open, democratic government?
Faisal Islam on how scrapping national pay bargaining might save lives, and why it will be rather difficult.
The Chancellor says this week’s budget will help people on low and middle incomes, and promises an “aggressive” policy on the super-rich who dodge property taxes.
George Osborne will announce plans to scrap national salaries for public sector workers and pay them according to their region instead – effectively meaning a pay cut of potentially for many of them.
Chancellor George Osborne is rumoured to be preparing to cut the 50p top rate of tax in next week’s budget.