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Chancellor’s Tightrope: Budget, Benefits, and Tax | Leeds News
Description
New Chancellor John Healey faces a tough balancing act: cutting ballooning benefits costs—like Personal Independence Payments, now projected to soar to £78 billion by 2030—while boosting defense spending, a move he once resigned over. With over 100,000 more ADHD patients receiving benefits in just two years, tough choices loom. He’s already vowed fiscal control as a national security priority. Meanwhile, the frozen personal allowance, stuck since 2021, leaves basic-rate taxpayers losing roughly £700 annually—despite inflation pushing it to over £16,000. His first move? A VAT cut on electricity bills to ease the squeeze.
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