https://morningstaronline.co.uk/article/this-is-not-a-plan-for-rebuilding-britain
Tory Chancellor Jeremy Hunt uses Autumn budget to back bosses and attack the most vulnerable
TAX cuts for business while squeezing the most vulnerable are at the heart of the Tory re-election strategy, Chancellor Jeremy Hunt’s Autumn Statement revealed today.
The Chancellor focused on placating angry Conservative activists but offered little to millions struggling with the cost-of-living crisis in slow-growth Britain.
He took particularly aim at benefit claimants suffering sickness or disability with draconian measures designed to force them off welfare if they do not accept jobs that may be either unsuitable or non-existent.
Mr Hunt said that if, after seeking a job for 18 months, a claimant has still not found work they will have to take part in a compulsory work placement and if they “choose not to engage with the work search process for six months, we will close their case and stop their benefits.”
Clearly showing the class nature of his calculations, Mr Hunt boasted that he was ordering “the biggest business tax cut in modern British history” by making permanent a 25 per cent tax deduction for companies that invest in plant and equipment.
In other business-ordered moves, he extended tax relief on firms in special freeports or investment zones, which are themselves to be increased in number.
Desperate to revive the Tories’ bleak electoral prospects, the Chancellor surprised MPs by ordering a 2 per cent cut in employee National Insurance payments, to 10 per cent, which will save the average employee around £450 a year.
Nevertheless, the overall tax take in the British economy is still heading towards a post-war high of 37.7 per cent of GDP, according to the Office for Budget responsibility (OBR).
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https://morningstaronline.co.uk/article/this-is-not-a-plan-for-rebuilding-britain
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