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 Originally Posted by The Bean Counter
Largely a nonsensical, pure Tory mini-budget yesterday. Disgusting really
They gave the relatively well off some more money, but that immediately got inflated away with a weakening of Sterling. Which will leave the well off probably about flat, but those at the bottom end worse off.
NI change - wasn't needed now the change is in and people are used to it. Benefits the relatively well off who will just save more (no trickle down), rather than spend more (inflationary).
Stamp duty change - stop propping up the property market, most likely due to self interest
Bankers bonus - because the 200% cap wasnt enough, let's incentives reckless behaviour 2000-2008 style.
Corp tax reversal of planned increase - good idea
Creation of low tax zones - good idea
Pure trickle-up economics designed to make their rich mates richer. Pound and bond market both tanked - basically proving the markets know it's a horrible budget for the country as a whole.
I suspect the Tories have realised they're doomed at the next election and have given up on winning it, but instead are just trying to plunder the country as much as they can while they still can.
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