Despite the unsatisfactory promise of a 2p budget cut in national insurance contribution and a frozen alcohol and tobacco tax, the overall impact on the average taxpayer remains minimal. It’s fair to say the budget was filled with mediocrity and is a half-hearted effort to provide relief from the cost-of-living crisis. This disappointment is furthered by the fact that Britain’s tax burden is still projected to rise sharply to its highest level since 1948.
The decision to prioritise tax cuts will only further pressures on public services, like the NHS, which are already crumbling at the hand of the Conservative government. After years of ever-growing NHS waiting lists and councils facing bankruptcy, the Tory party can’t afford to keep neglecting these services which the public are dependent on if they hope to secure another term in parliament.
This was not the election-defining budget the Conservatives so desperately need. Living standards remain squeezed, and these poorly timed NI cuts won’t relieve the pressures of the recession for most households. Let’s face it, this budget lacked depth and failed to offer a plan to tackle economic uncertainty. The Tory party has overseen years of economic failure, but will this budget blunder mark the end of their reign?
