Remember. At the peak of austerity, Osborne gave UK’s 300,000 richest households a tax cut

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Clegg, Coalition, economy, Osborne

(not satire – it’s George Osborne and Nick Clegg!)

It’s so easy to forget. It was so long ago.

But please remember that in his 2012 budget – at the height of the coalition government’s so-called austerity drive – George Osborne decided it was just the right time to give 300,000 of the UK’s richest households a cut in income tax.

However, being a fiscally responsible chancellor, Osborne balanced the money he was losing in tax collected from the wealthiest people in the country by cutting child benefits from the poorest. And by making 4.4 million taxpaying pensioners lose an average of £84 a year by freezing their personal allowances.

Oh, and also please make sure it doesn’t escape your mind that Nick Clegg and his Liberal Democrats supported Osborne and his budget all the way.

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