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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