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'Hotchpotch' Budget attacked

The Chancellor's Budget calculations have been questioned by the respected independent economic analysts, the Institute for Fiscal Studies.

It criticised the "hotchpotch" of reforms that it warned may fail to raise as much income as predicted.

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Balls: IFS confirms pensioners will lose out

Labour's shadow Chancellor Ed Balls has reacted to the IFS Budget briefing:

The IFS has confirmed that George Osborne’s tax raid on pensioners will see nearly four and a half million pensioners losing £83 next year. And people turning 65 next year will lose up to £323 with little forewarning...It’s now even clearer that this was a Budget that asked millions to pay more so millionaires could pay less.

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