Labour will help pass tax breaks despite Think Tank finding they’re mostly a handout to rich

The Chancellor Philip Hammond used his budget yesterday to argue that “austerity is coming to an end”. But the Resolution Foundation cast doubt on this in their ‘Autumn Budget 2018 response‘. Their analysis showed many government departments will likely still suffer large budget cuts in the next five years.

The tax and benefit changes that have been announced since 2015 will deliver an average gain of £390 for the richest fifth of households in 2023-24, compared to an average loss of £400 for the poorest fifth. The report did, however, highlight “progress” and “a very significant easing of austerity”, however, stated this was simply down to “the major windfall the OBR provided him [Hammond] with”.



Written by The People's News management team

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