(12 years, 5 months ago)
Commons ChamberThere has been much trumpeting and advance spinning of the Budget in recent days, so almost every announcement this afternoon came as no surprise. There are also hidden messages in the Budget: those who are poor and whose income is being squeezed are being asked to work longer; but for those in the top income bracket, the message is, “Let us ease your pain. We’ve reduced your corporation tax bills, lowered your banker’s bonus tax, now let’s cut your income tax rate.”
Was not another thing sneaked through the Budget quickly and carefully: the more than £1 billion hit that British pensioners will take as a result of the announcement on “simplifying” personal allowances for pensioners?
My hon. Friend has cleverly noted that hidden message, to which, I am sure, the Chancellor was keen to avoid drawing attention. However, pensioners are not as daft as he thinks, and I think that they will soon reckon that they are paying for the millionaires’ tax bonus announced today.
There has also been complete radio silence on other matters: women, for example, or children. By any rational definition, the Budget has not only ducked the hard issues, but entrenched the division in our society.