Withe UK budget announced by the ConDem government and with a chance to digest it, here are the highlights (or rather low lights):
The main features of the Budget were:
Cutting the top rate of income tax from 50% to 45%
Another cut in corporation tax
A further £10.5bn in welfare cuts (as yet unspecified)
Raising the personal allowance on income tax
But reducing the personal allowance for pensioners (the so-called ‘granny tax’)
Above inflation increases on cigarettes and alcohol
So, in general it is a budget which has favored the rich over the 'squeezed middle' and the working poor. The true, blue, colors of the ConDem government.
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