 Mr Hunt is expected to cut £33billion from public spending, drag more small businesses into VAT by freezing the £85,000 threshold, hit oil and gas giants and electric companies with an extra 5% windfall tax and raise Corporation tax to 25% in April. TUC boss Frances O'Grady said: 'Ministers need to boost the economy and protect workers from the threat of one million lost jobs.' The FCA says 2.2million more people now have low 'financial resilience' than in 2020. It's report added: 'These people could quickly find themselves in difficulty if they suffer a financial shock because of little or no savings or burdened by domestic bills or credit commitments.' Ms Reeves' research shows 2.5million voters in the North East would be hit but also another 2.4million in Tory South East heartlands. She sa){kind=link}
Chancellor Jeremy Hunt threatens to create a million unemployed by clobbering businesses with tax rises in Thursday’s Budget
One in three adults would run out of money within three months if their main source of income dries up as the UK dips into the longest recession for 100 years.
Yet Chancellor Jeremy Hunt threatens to create a million unemployed by clobbering businesses with tax rises in Thursday’s Budget.
Analysis of new Financial Conduct Authority figures by shadow Chancellor Rachel Reeves shows that 16.5million Brits would be unable to cover living costs beyond 12 weeks unless they borrowed from friends and family.
The shocking finding means everyone from benefit claimants to workers would be hit as savings trickle away and the cost of living soars.