Our financial expert reveals why what was announced in today's Budget matters

Contributing sentiments towards policy:

59% : And self-employed national insurance will be cut from 8% to 6%.
58% : The Resolution Foundation said that means all eight million taxpaying pensioners face tax rises averaging £960 as a result of tax threshold freezes.
58% : The gist is that public spending proposals will be approved if they wash their face within five years - in other words, they're cost-neutral over the course of a parliament.
56% : This came with a caveat - a 'landmark Public Sector Productivity Plan that restarts public service reform and changes the Treasury's traditional approach to public spending'.
55% : Firstly, Hunt didn't mention that, yet again, income tax thresholds would be frozen - and that makes a much bigger difference to how much money you have left after the Treasury raid on your pay packet.
50% : The Chancellor Jeremy Hunt delivered his Budget statement in the House of Commons earlier today, claiming his measures would put hundreds of pounds back into British workers' pockets.
48% : Short answer, yes. Earlier today Hunt said: 'the way we tax people's income is particularly unfair.' He said: 'If you get your income from having a job, you pay two types of tax - National Insurance Contributions and Income Tax.
48% : 'Councils of all political colours are starting this financial year in a precarious position and having to scale back or close a wide range of local services, so the continued squeeze in public spending in the years ahead is a frightening prospect for communities.' LGA analysis shows cost and demand pressures have added £15 billion to the cost of delivering council services since 2021/22.
47% : National insurance slashed, public spending maintained and a smattering of crowd-pleasing changes, including to child benefit, the tax-free Isa allowance and fuel duty.
46% : Also announced today was a cut in the higher rate of Capital Gains Tax for residential property disposals, from 28% to 24% from April 6 2024. Ben Beadle, chief executive of the National Residential Landlords Association, dismissed the both plans, saying they will make 'no meaningful difference to the supply of long-term rental properties'.
40% : The OBR forecasts published today show a rise in insurance premium tax receipts every year over the next five, indicating that premiums are likely to keep going up.

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