From the TUC

Are pensioners paying for corporation tax cuts?

21 Mar 2012, by in Economics

The Budget policy costing document reveals that the additional cut in corporation tax is set to cost us £880 million by 2015-16.  But at the same time, the rather opaque announcement that ‘age-related allowances’ for pensioners will be frozen and restricted to existing recipients from April 2013 will raise over £1 billion by the same date. Has the Chancellor really paid for tax cuts for big business (whose record surpluses are currently worth 50% of GDP) by making pensioners pay more tax?