Chancellor’s tax cuts will widen the income gap at a time of national crisis

 The chief executive of Manningham Housing Association (MHA) has warned that the Chancellor’s mini-Budget will increase the gap between people struggling on the lowest incomes and those least in need of financial support.

Speaking in response to Kwasi Kwarteng’s announcements earlier today, Lee Bloomfield said:

“The Chancellor’s decision to target his measures towards helping the better off will be deeply worrying for individuals and families on the bottom rungs of the income ladder, including a high proportion of housing association tenants.

“The 600,000 highest earners in the country will save an average of £10,000 a year through his abolition of the top rate of income tax.

“Meanwhile, he issued a threat to cut benefits for 120,000 people on Universal Credit.

“We are dealing with a cost of living crisis which is slashing household budgets every week.

“The Chancellor had the opportunity to make a positive difference to the lives of those suffering most from rising costs.

“Instead, he chose to give extra help to people who need it least.”

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