Budget even more regressive than thought!

Following on from my previous post about the budget this post by Adam Lent on the Touch Stone Blog gives further evidence that the Coalitions claimed transparency becomes more opaque by the day.

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Budget not that transparent!

During his speech George Osborne joked that their was no point hiding things because in 24 hours the IFS had worked everything out and published for everyone to see. Well he was right.

The Institute for Fiscal Studies has declared the budget not progressive contrary to the Chancellor’s assertion.

He also made great play of increasing the State Pension in line with earnings but hid the fact that this would make no material difference at present and that pensioners wouldn’t benefit from the rise in personal allowances.

With a freeze on wages and a swap to using the Consumer Prices Index instead of the Retail Prices Index pensioners shouldn’t expect a large pension increase next April.