MARTIN BENEFITS JOY
MONEY guru Martin Lewis says he is relieved that benefits and pensions will be increased in line with inflation.
The Money Saving Expert founder said he is “very pleased” with the planned 10.1% rise.
He said: “It only happens from next April, and it will still be hard for many, but if it was less than this it would’ve been devastating.”
Lewis compared the different approaches of Chancellor Jeremy Hunt and his predecessor Kwasi Kwarteng.
“My how times change,” he said. “This chancellor and last chancellor both cut the 45p rate of tax.
“But Kwarteng cut it so it didn’t exist – a tax reduction for high earners. Hunt cut the threshold (from £150,000 to £125,000) so those earning £150,000+ pay £1,250 more.”