We thought we would round up opinion of today’s budget. From the Chancellor himself to the leader of the opposition, business leaders to the trade unions, who said what?
We’d also love to hear what you think about today’s Budget, please leave your comment at the bottom of the article.
|George Osborne, Chancellor of the Exchequer, “This Budget supports working families and helps those looking for work. It unashamedly backs business. And it is on the side of aspiration: those who want to do better for themselves and for their families.”|
|Ed Milliband, Labour Leader, “Tax credits cut, child benefit taken away, fuel duty rising – and what has he chosen to make his priorities? For Britain’s millionaires, a massive income tax cut each and every year.”|
|Laura Kuenssberg, ITV, via Twitter “Osborne’s been listening to Richard Branson, who wants loans available for young people who want to start businesses.”|
|Andrew Tyrie, Treasury Committee chairman, “The UK needs a “simpler, fairer” tax system and that today’s changes should encourage the economy”|
|Danny Alexander, Chief Secretary to the Treasury, “The Budget will get more money into the pockets of low and middle earners,it is a Budget for the millions, not the millionaires. The changes to tax allowances for pensioners will save about £1bn by 2016/17. There will be no “cash losers”|
|Andrew Sentance, senior economic adviser to PwC, “There were some positive signals for business and Britain’s international competitiveness. By cutting the corporate tax rate faster and further and by bringing down the highest rate of personal tax, the Chancellor has helped to improve the attractiveness of the UK as a location to conduct business and generate wealth. He also set out the principles which will guide future tax reform and has helped improve incentives to work by taking lower earners out of tax. This is positive for the supply side of the economy and economic growth over the longer term.”|
|John Cridland, CBI Director-General, “Family budgets have been under great pressure, and by putting more money in the pockets of ordinary people, the Chancellor has provided a much-needed confidence boost.”
“The Chancellor has also painted a clearer vision of how the UK will earn its living in the future and, by seizing the opportunity to make sure our corporate tax system is more internationally competitive, he has sent a powerful signal to companies to invest, do business and create jobs in the UK.
“An extra one per cent off corporation tax this year could make a big difference to investment intentions. Plans to reduce the top rate of tax to 45p by April 2013 will show our top and aspiring talent that this Government wants them to create wealth here.”
|Brendan Barber, General Secretary of the TUC, “We needed a Budget that looked to the future and made jobs, particularly for young people, the national priority. Instead we have got a Budget for the rich by the rich.”
“One minute the Chancellor said he found tax avoidance morally repugnant, the next he rewarded it by cutting income tax for the richest one per cent, with precious little relief for hard-pressed families on ordinary incomes. Treasury figures show that those on low and middle incomes will do worse than those higher up the income scale.”
“This looks like a Budget made to keep the Coalition together rather than one made for the good of the country.”
|Chris Leslie, Shadow Financial Secretary to the Treasury, via Twitter, “Did you spot the massive stealth tax on pensioners? Strange Osborne didn’t dwell on that one…”|
|Dave Prentis, General Secretary of Unison, “The chancellor’s Budget has given a helping handout to his rich friends in the City and delivered a slap in the face to the unemployed and low-paid families. Osborne should be delivering policies to get the 2.67m unemployed people back into work and economically active. Instead, the government’s cuts agenda is making the situation worse by adding to those numbers month by month.’’|
|Nick Robinson, BBC Political Editor, via Twitter, “Just hours left to buy hot chicken, sports drink and fags before tax goes up #BBCBudget”|
|Robin Brant, Political Correspondent, BBC News, “This government’s third budget is fiscally neutral, where the chancellor has cut taxes he has had to increase them elsewhere. low earners will pay less tax, so will high earners. There’s cost savings from withdrawing UK forces from Afghanistan in 2013 and 2014. Smokers get hit hard. There’s an increase on tax for the very wealthy who are selling their property, and a blunt warning about tax avoidance on property. Most surprisingly there was an effective tax rise for pensioners, who will see their personal allowance frozen then abolished.”|
|Simon Walker, Director General of the Institute of Directors, “While any tax reduction is welcome, the Chancellor has not done enough to free business from the burdens and barriers that are holding economic growth back. Businesses dearly want the opportunity to invest, create and build, but George Osborne must go much further if he wants to fire up the engines of the economy. Simon Walker, Director General of the Institute of Directors, said: While any tax reduction is welcome, the Chancellor has not done enough to free business from the burdens and barriers that are holding economic growth back. Businesses dearly want the opportunity to invest, create and build, but George Osborne must go much further if he wants to fire up the engines of the economy. There was a bold move on Corporation Tax, but in the bigger picture this is still not far enough or fast enough.”|
What do you think?
We’d love to hear your views, do you agree with comments you have read above? Who was the Budget good for? Who were the winners and who were the losers?
Let us know what you think, leave your comments below.