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Budget Resolutions and Economic Situation — Amendment of the Law

Part of the debate – in the House of Commons at 12:57 pm on 22nd March 2016.

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Photo of George Osborne George Osborne Chancellor of the Exchequer and First Secretary of State 12:57 pm, 22nd March 2016

I have given way twice to the right hon. Lady so I will now make progress and explain what we have done to clear up the mess she left. We took more decisions last week in the Budget, but we will also implement these decisions today to ensure that the work of reducing our deficit is done fairly, and that we ask more from the well-off. Look through the measures. They include provisions on dividends, lifetime pension allowances, stamp duty on second properties, banks and hedge funds, and a host of measures to tackle evasion and avoidance. The Institute for Fiscal Studies has been quoted a lot over the past four days in the Budget debates, and its head stated that

“the very highest earners have seen significant tax increases”.

I think that has been a reasonable thing to ask of the most well-off when faced with such a budget deficit, because we are all in this together.

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George Morley
Posted on 23 Mar 2016 4:44 pm (Report this annotation)

You mention lifetime pension allowances ?
But the Frozen Pensioners are still living ! What have they done to deserve being treated like the criminal that was sent to Australia which does not happen today because we are now in the 21st Century and neither should this harsh, illogical and irrational unfair policy be in place now.