Yesterday’s Budget statement included welcome measures to cut taxes for the working poor by reducing the Universal Credit taper rate (a flagship CPS policy); to act on alcohol, fuel and flight duties; to improve business rates and investment; and to implement new fiscal rules which echo those proposed by Sajid Javid and the CPS in 2020.
But what about the bigger picture?
In a comprehensive briefing note, the Centre for Policy Studies’ research team set out the most important takeaways from the Budget – including the fact that Boris Johnson is set, by 2025-6, to usher in the age of the trillion-pound British state. We also explain how the Budget tilts the balance further towards public sector workers vs private, why the Government is pinning its hopes on a surge in productivity – and just where Rishi Sunak is getting all that extra money from.
