The hidden cost of the budget

The headline changes in last week’s budget were bad enough, but there’s a lot of bad news hidden in the small print.  Here are a few examples:

  • The so called National Living Wage has been cut to an estimated £9 per hour as forecasts for wage growth to 2020 are cut in the budget.  The National Living Wage is calculated as a percentage of average wages;
  • The NHS budget is hit by £700million in increased pension payments;
  • The NHS capital budget for the replacement of worn-out equipment has been cut by £1billion.

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