‘At least bankers on short-haul flights sipping champagne will be celebrating this Budget’ said Shadow Chancellor Rachel Reeves, who should surely be Leader of the Opposition soon. So here’s the thing: we’re going to be paying more tax. Boris want’s us all to earn more. If you’re on minimum wage, an extra 59p an hour won’t solve many problems. But it’s all relative, and if the office cleaners get a rise of £23 a week, you can bet that translates to £100k a year for the City Boys. All tax thresholds are frozen for the foreseeable, inflation’s 4%, do the math. Own goal, though, with the champers and Universal Credit £20, I’d say, Rishi.
“Reeves backs down on plans to cut ISA limit”
So it looks as though Cash ISAs are safe for the moment (FTM – is that a thing?) Rachel has apparently ‘bowed to pressure’ from the banks and building societies and decided not to reduce the allowance to £4,000 for cash and to keep the £20,000 parity with Stocks and Shares ISAs. Bowed also to common sense, I’d say.
