Tax cuts worth £20bn in Jeremy Hunt’s autumn statement favoured the richest 20% of earners, undoing much of the progressive policy changes made during the parliament’s first half, a leading thinktank has found.
The top fifth will gain £1,000 on average, five times the gains seen by the bottom 20%, who will be only £200 better off from measures that include a 2p cut in national insurance, according to the Resolution Foundation’s analysis. Continue reading...
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