Dharshini David: An election giveaway but taxes will still rise

My main takeaway from Wednesday's Budget is that many are still going to see their tax bills rise. He's chosen to spare some cash for those widely trailed tax cuts - at a cost of £13bn by 2029. The money raised from those sources is particularly uncertain and they raise a measly amount compared with the "Hidden" or stealth taxes the government receives from frozen tax bands. An earlier decision by the government not to raise the thresholds at which different rates of taxes on income apply means many have had more of their money siphoned off as tax. Lower earners are worse off, middle earners are still better off and higher earners are very slightly worse off.

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