Displaying items by tag: spending

The chancellor pledged increasing public spending amid higher than expected economic growth. Whitehall departments will receive a rise of £150bn over the course of this parliament, the largest increase this century. There is extra money for schools, tax cuts for businesses and a cut in air duties for internal flights. A changed alcohol duty will see cheaper sparkling wine and draught beer, and the planned fuel duty rise is cancelled. Amid huge concern over the £20 cut to Universal Credit, changes will be made to let working claimants keep more of their benefits. There is new money for the NHS, a rise in the National Living Wage, and public sector pay rises. The Institute for Fiscal Studies said inflation and higher taxes on incomes would negate small wage increases for middle earners. Low-income households will see the cost of living increase faster than benefit payments. The chancellor acknowledged in his budget that families are under strain: see