The Chancellor said the measures he set out will have a 'transformational' impact on the economy
Jeremy Hunt has defended his 'transformational' Budget amid accusations he is handing a massive £1 billion tax giveaway to the some of the wealthiest people in the country.
It said a tax giveaway on such a scale could see some workers choosing to retire early, or using their now uncapped pensions savings to avoid inheritance tax. "It’s a big victory for NHS consultants but poor value for money for Britain," said RF chief executive Torsten Bell. Meanwhile, trade unions complained he had found £6 billion to freeze fuel duty yet again while refusing to come up with additional cash for public sector workers seeking cost-of-living pay rises. There was unhappiness among some Conservative MPs too at his decision to press ahead with a planned rise in corporation tax – from 19 per cent to 25 per cent – although he softened the blow with a three-year temporary break allowing investment in plant and machinery to be written off against tax.
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