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00:00:00
this will be a budget for working people chancellor george osborne will hope he struck the right notes in the conservatives first budget since nineteen ninety six , it's tough on the public purse strings but also pushes back the urgency of cuts meaning a surplus isn't expected until twenty twenty , the key numbers how your this budget of always surrounded all schools deficit reduction plan only reuters report jay greene's in westminster worries now announced over the next parliament will be thirty seven billion pounds worth of savings , the stunt show chunk twelve billion pounds will come from the welfare bill working age families feeling the squeeze tax credits will be slashed and working age benefits will be frozen for the next four years but this one figure in particular also will want you to take home from this budget and not see instructions starting from april of next year of a new living wage , as you can tell from the conservative benches that once expected to take the wind out of labor sales may be clear what it means for the low paid you know , three two and a half million people will get a direct pay rise , they could maintain this is just always pull giving with one hand and taking away with the other as far as a national living wage is concerned that was our policy at the general election i'm really pleased that he has taken it on board he can say thank you will say you're very welcome , it is right that the national minimum wage is going to release that actually what we already know is that a single parent with , children i will gain four hundred pounds from the changes to the national minimum wage and then used twice that amount because it will be some tax credits ngger kernels idea because a tax credit changes so no surprises both main british parties won't the backing of so called working people as for the business or school plans through again cuts corporation tax to eventually reach eighteen percent , about maybe this being the isle of multinationals will be phased out over the coming years and onlookers in washington will be pleased to hear of plans to meet the u. case nato spending commitments , two percent of g. d. p. but any money spent means finding further savings , then departmental budgets from of the benefits will be on the chopping block