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BBCNEWS BBC News June 4, 2024 02:12:00

according to the think tank the resolution foundation, the top 5% of earners will overall be about £2,500 better off, while the lowest 5% will be about £9 worse off, but the middle fifth of earners, labelled by some as the squeezed middle, will be about £780 worse off. this was a budget where the distributional impact was very clearly the biggest gains goes to those who have the highest incomes. it s a growth or bust kind of strategy, which is certainly different to what we have seen before. a lot of what was announced yesterday was simply reversing planned tax rises, personal and corporate. ministers insist these plans will grow the economy for everyone. we re not into the politics of envy, where we deliberately penalise people who have been working hard. we want to cut taxes for everybody. and the danger, by the way, if you have tax rates that are too high, for either companies or for individuals, you drive them away. the previous chancellor froze the basic rate at which everyon

BBCNEWS BBC News June 4, 2024 17:03:00

will be about £780 worse off. this was a budget where the distributional impact was very clearly the biggest gains goes to those who have the highest incomes. it s a growth or bust kind of strategy, which is certainly different to what we have seen before. a lot of what was announced yesterday was simply reversing planned tax rises, personal and corporate, and ministers insist these plans will grow the economy for everyone. we re not into the politics of envy where we deliberately penalise people who have been working hard. we want to cut taxes for everybody. and the danger, by the way, if you have tax rates that are too high, for either companies or individuals, you drive them away. the previous chancellor froze the basic rate at which everyone starts paying tax which, with inflation so high, is currently leaving everyone worse off. treasury insiders confirm that might now be looked at as part of a wider review of all taxes. a full budget could be on the cards before the year is out.

BBCNEWS BBC News June 4, 2024 19:07:00

and will get the economy growing. our business correspondent, marc ashdown, reports. a bit more money for everyone will get businesses investing and people spending that s the government s aim but at this market in buckinghamshire there s scepticism about who will benefit most from these tax cuts. well, the higher end will be a lot better off, but lower end, is it a penny? it s nothing. considering the cost of living and inflation and the bills. it will take six months to kick in, really, won t it? and see if it does help. just hopefully it does. according to the thinktank the resolution foundation the top 5% of earners will overall be about £2,500 better off, while the lowest 5% will be about £9 worse off, but the middle fifth of earners, labelled by some as the squeezed middle, will be about £780 worse off. this was a budget where the distributional impact was very clearly. . . the biggest gains goes to those

BBCNEWS BBC News June 4, 2024 16:45:00

will get businesses investing and people spending, that is the government s aim, but at this market in buckinghamshire there is scepticism about who will benefit most from these tax cuts. well, the higher end will be a lot better off, but the lower end, is it a penny? it s nothing. considering the cost of living and inflation and the bills. it will take six months to kick in, really, and to see if it does help. so, hopefully it does. according to the thinktank the resolution foundation the top 5% of earners will overall be about £2,500 better off, while the lowest 5% will be about £9 worse off, but the middle fifth of earners, labelled by some as the squeezed middle, will be about £780 worse off. this was a budget where the distributional impact was clearly, the biggest gains goes to those who have the highest incomes. it s a growth or bust strategy which is certainly different to what we have seen before. a lot of what was announced yesterday was simply reversing planned tax rises,

BBCNEWS BBC News June 4, 2024 18:02:00

cuts are fair to all and will get the economy growing. our business correspondent, marc ashdown, reports. a bit more money for everyone will get businesses investing and people spending that s the government s aim but at this market in buckinghamshire there s scepticism about who will benefit most from these tax cuts. well, the higher end will be a lot better off, but the lower end, what is it, a penny? it s nothing. considering the cost of living and inflation and the bills. it will take six months to kick in, really, won t it? and see if it does help. just hopefully it does. according to the thinktank the resolution foundation the top 5% of earners will overall be about £2,500 better off, while the lowest 5% will be about £9 worse off, but the middle fifth of earners, labelled by some as the squeezed middle, will be about £780 worse off. this was a budget where the distributional impact was very clearly the biggest gains goes to those who have the highest incomes. it s a g

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