Daily Mail published this video item, entitled “‘Immoral and ridiculous’: Angry citizens react as Rishi Sunak’s 2021 Budget is announced” – below is their description.
Unveiling a crucial Budget modelled on the PM’s free-spending instincts, Rishi Sunak said he was choosing to ‘invest’ rather than ‘retrench’ after the pandemic hammered the country. Departmental spending will go up by £150billion over this parliament – an average of 3.8 per cent a year in real terms, the fastest rate this century. Per-pupil spending in schools will be back at 2010 levels by 2024-25, according to the Chancellor. Meanwhile, in a boon for pubs and high street retailers Mr Sunak said their business rates are being slashed by 50 per cent this year – worth £1.7billion. There are also reforms that in total will benefit them to the tune of £7billion. In one of the most eye-catching moves, Mr Sunak said universal credit is being made far more generous to give families another £2billion. The taper rate – how much claimants lose for every hour they work over the allowance – is being slashed from 63p in the pound to just 55p. The outlay is being largely offset by tax rises, including the huge national insurance increase for social care and the NHS and using a ‘double lock’ rather than the ‘triple lock’ for state pensions this year. It means that overall the Budget only leaves the government £7.7billion a year worse off, while debt will still be significantly lower than feared, according to Budget documents.
Daily Mail YouTube Channel
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