Oct 30, 2018

Do the poor benefit from the Budget?

The claim: People on the lowest incomes benefit most from Monday's Budget. The Treasury's analysis of Budgets since 2016 suggests the poorest would do better, but its analysis of Budgets since 2015 suggests that the poorest will benefit less than many richer people. The relevant chart in the Budget documents does not just look at Monday's Budget - it combines the impact of all the measures since the Autumn Statement in 2016. For example, the increased spending on the NHS will be counted as an increase in the value of services people get and hence a benefit from the Budget. The Institute for Fiscal Studies looked at the impact of Monday's Budget alone, not including benefits-in-kind, and found that as a proportion of income it would be poorer households that would benefit the most.

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