General Election: Theresa May rules out vote after Budget tax giveaways

Philip Hammond

Philip Hammond

With real wage growth predicted for the next 5 years by the Office for Budget Responsibility, the Chancellor could afford a sunny outlook although every silver lining has a cloud.

Some 45% of the benefits will go to the top 10% of households and almost 90% to the top half, said the think tank.

The increase to £12,500 means a basic rate taxpayer will pay £1,205 less tax in 2019-20 than in 2010-11.

"Unless the United Kingdom leaves the European Union in March 2019 without a deal, there must be a good chance that economic growth will turn out better than the OBR's forecasts suggest - the Chancellor's so-called "double deal dividend", says Ruth Gregory, an economist at Capital Economics.

Mr Hammond said that it was "important to raise all of these thresholds", as many middle-income workers in schools, hospitals and police services had been dragged into the higher rate of income tax.

"Fifty per cent of the benefits that will come from the tax cuts are going to the top 10 per cent, so this is not about fairness", declared the Highland MP.

Experts had feared Mr Hammond would be forced to renege on his promise to increase income tax thresholds in a bid to cover the cost of the £20billion funding pledge to the NHS.

The IFS also warned that many public services will continue to feel squeezed for some time to come. Cuts are not about to be reversed.

"If I were a prison governor, a local authority chief executive or a headteacher ..."

Britain's economy is on course to expand by around 1.3% for the 2018 year, a much lesser rate than the 1.7% seen in 2017, due to a steep slowdown seen in the first quarter. He said that taken as a whole, other departments would see their spending rising in line with inflation. "Brexit must be delivered smoothly, public spending will remain tight, forecasts may not always be so rosy, living standards are set to be sluggish and tax rises to meet pressures in the 2020s from our ageing society will still be needed".

Broadcast of Indian content banned by Pak SC
Under the licence conditions, the channel was allowed to broadcast 10 per cent foreign content, including that of India. The petitioner had stated that Pemra had granted a licence to the company for 15 years to operate a cable channel.

"Social care remains the Achilles heel - it has been consistently underfunded, neglected and unloved by politicians over many years and the extra funding announced today - again welcome - is clearly inadequate. what we needed was support to get the system back on its feet but what we have is yet another sticking plaster".

He announced that work allowances in Universal Credit will increase by £1,000 per annum, claiming the move would benefit "2.4 million working-families-with-children, 2.4 million working-families-with-children, and people with disabilities by £630 per year". 'There is one stand-out example of where the rules of the game must evolve now if they are to keep up with the emerging Digital Economy, ' Hammond told Parliament. "What will he do then?"

I can report to the British people that their hard work is paying off and the era of austerity finally coming to an end.

This will apply across the United Kingdom, including in Scotland, where changes introduced in April 2018 mean those on a salary of more than £43,430 are taxed at the higher rate of 41p.

THERESA MAY has rejected suggestions that chancellor Philip Hammond's giveaway Budget was created to pave the way for an early general election.

After weeks of turmoil over Brexit, Tory MPs will be looking to the Chancellor to raise party morale with his annual financial statement on Monday - expected to be the last Budget before Britain leaves the EU.

"I see it as a perfectly natural end point to a fix job of the public finances", Mr Osborne said.

She responded emphatically: "No".

Mr Hammond said his Budget was aimed at helping "the strivers, the grafters and the carers" and would pave the way for a "brighter future". "That would not be in the national interest".

"What was clear in the Budget yesterday is we have fully funded that. extra money into our NHS and not raising taxes".

Latest News