Wednesday’s Budget promised relief, but for millions of ordinary families, reality bites. Scrapping the two-child benefit cap helps some, but if you’ve got two children, don’t use breakfast clubs, and don’t commute by train, there’s almost nothing for you.
Meanwhile, the 40% higher-rate tax threshold remains frozen at £50,270, meaning more people slip quietly into the high-tax band as wages rise. A “raise” in pay often just gets eaten up by taxes, leaving families no better off.
And let’s talk about bills. Food prices have risen 30% since 2021, and energy costs remain far higher than three years ago. You could lift the minimum wage all you like, but if every extra pound disappears at the supermarket or to pay gas and electricity, what’s the point? Has anyone actually woken up today feeling better about their finances?
Where’s the ambition? In previous years, government schemes like boiler scrappage, Warm Front, and home improvements cut costs, created jobs, and boosted the economy. Today, we have piecemeal measures — nothing on that scale.
If the government really wants to help, it could take bold steps: nationalise key public services, reduce prices, and recycle profits back into the economy. Until then, working families will continue to feel the squeeze — and yesterday’s Budget does little to change that.
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