Families on the poverty line have been urged not to get too excited if the proposed tax cut by new Chancellor Kwasi Kwarteng goes ahead, as it will gift them an extra 63p a month to play with.
Kwarteng has been looking for ways to stamp his authority on his new role, and feels he has hit the jackpot by reversing a planned rise in National Insurance.
“This is life-changing,” said Simon Williams, a father of three who has taken on two part-time jobs after the energy firm he worked for went bust back in March.
“63p might not sound like much to you, but that could be a whole loaf of bread if I go to the supermarket at the end of the day and look for the yellow stickers. Or it means I could put the heating on for a couple of hours once a month – maybe we could have that one day a month where the kids don’t have to get up in the cold to get ready for school? That would be nice.
But Mr Kwarteng needn’t worry, I will definitely spend it wisely. I couldn’t imagine wasting such a generous gift on buying something like, I don’t know, a can of Coke.”
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