The Resolution Foundation, an independent research and policy organisation, analysed the Chancellor's 2013 Budget:
- Personal tax allowances: Small gains for the great majority of tax payers excluding the very highest and lowest earners. However three-quarters of the £1 billion goes to households in the top half.
- Fuel duty: The freeze on fuel duty will disproportionately benefit lower and modest income families.
- Childcare: Welcome increase in generosity of childcare support through Universal Credit but only a minority of working low-income families with children will benefit.
- Housing: Focus on new supply to be welcomed but focus on home ownership is unlikely to benefit those on low and modest incomes.
- Wages: OBR forecasts show wages have dipped further than previously realised. For the median worker, the downturn has become even more severe.
A round up of the press' reaction to George Osborne's Budget 2013.
The borrowing figures announced by the Chancellor today were as bad, if not worse, than expected.
Conservative sources in the coalition said there will be no more welfare savings in the 2015/16 spending round.