Eight things we’ve learned from Cannan’s final budget Covid cost, revenue lost and pensions boost.
Covid-19 has radically altered what the treasury minister was expecting to unveil in his final budget, the last of a five-year-plan committed to at the start of this administration.
Bearing the cost of the pandemic has put paid to plans to continue policies on personal tax allowances and other benefits, with Alf Cannan instead focused on ‘steadying’ public finances.
That means little in the way of new spending, bar investment in health, with a focus on finishing major schemes which have already been approved.