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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 ....
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. 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. the chancellor might not be done with tax cuts just yet. marc ashdown, bbc news. we can speak to iain watson at labour s conference now. iain, this conference an opportunity for kier starmer s to present his alternative to the government s economic plan? ....
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. ....
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. the chancellor might not be done with tax cuts just yet. marc ashdown, bbc news. let s get a little more now on what the announc ....