Last week we heard Rachel Reeves’ bin fire budget, and it was as bad as we all feared.
£26 billion worth of tax increases to pay for more spending on benefits.
On the 27th November Labour announced:
- An extension the tax threshold freeze, which will drag thousands of local people into higher tax bands as well as pulling some of the lowest paid into tax for the first time.
- A tax raid on people who are using salary sacrifice schemes to invest more in their pensions.
- A reduction in the ISA cash limit, penalising people for saving.
This budget is a real stinker and will have a negative effect on the most residents in Longmeadow & Bragbury End.
I want to hear what you think about Labour’s budget. Please complete my 2-minute budget survey below to give me your thoughts.
