Budget income tax cuts 'to overwhelmingly benefit the rich'

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Top half of households to benefit from 84% of the cuts, says Resolution Foundation

Income tax cuts for millions of workers announced in Philip Hammond’s budget will “overwhelmingly benefit richer households”, analysis has found, with almost half set to go to the top 10% of households.

The analysis by the Resolution Foundation thinktank found that welfare cuts would continue to affect the poorest households, despite Hammond’s announcement that austerity was coming to an end.

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from The Guardian https://ift.tt/2Rr8jnN

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