The government has been criticised for some of its economic plans announced this week
Pensioners will be the biggest losers from Jeremy Hunt's Spring Budget, with many facing a £1,000 reduction in their income because of Tory tax plans.
Income tax thresholds have been frozen since 2021, dragging more people into higher tax brackets because of inflation. Older people must still pay tax on any income over the personal allowance, including pensions, reports the Mirror. Sarah Olney, the Liberal Democrat Treasury spokesperson, criticised: "Buried in the small print of this Budget is a disgraceful £8 billion pensioner tax bombshell. People who have worked hard and done the right thing all their lives are being hammered by Jeremy Hunt with years of unfair tax hikes, leaving them an average of £1,000 worse off each."
Mr Hunt stated that public service spending will increase in real terms by 1% overall. This could mean harsh cuts to public services outside of health, defence and education.
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