The Cost of Living Like This

Brother Jones and Fraser and Pete have already given you some of the useful charts from today’s budget. But the truth of this budget can be summarised quite simply: Everyone Pays More. Here’s the proof, culled from the Red Book:

Conservative Home say this shoots Ed Miliband’s fox, proving that the rich will pay more as a consequence of this budget. Up to a point. In pure cash terms, the total impact of the budget may be greater on the wealthiest 10%; in proportional terms it seems to hit those on lower incomes rather harder. Again, however, note this: George Osborne appears to have delivered a tax-raising budget. If Britain is going to “earn its way”, Britons are also going to pay their way. Such are the strictures of these astringent times.

For a Chancellor who talked about simplyfying the tax code, Osborne seemed happy to purchase sweeties for any number of special interests and industry lobby groups.