Jeremy Hunt has defended his 'transformational' Budget amid accusations he is handing a massive £1 billion tax giveaway to the some of the wealthiest people in the country.
The Chancellor set out his plans to grow the UK's economy in the House of Commons on Wednesday (March 15), stating the measures will ease labour shortages which have been holding back growth. They include a major expansion in the access to state-funded childcare – a move that was broadly welcomed.
However, there was controversy over a tax break to discourage an estimated 15,000 high earners from leaving the workforce early, including the abolition of the £1.07 million lifetime pensions allowance. Labour said it was the 'wrong priority' and they would seek to force a vote on it in the Commons next week.
