Replacing a tax on earned income with a mansion tax means many of the top 1% will be much better off, while the few who buy £2m+ homes will be worse off, but there aren't many of those. There are plenty more pensioners or low paid working families reliant on the savagely cut tax credits.
The Tories have been brash and bold. This was an ideological budget, cutting tax for the rich while squeezing the workless poor. It also did nothing to stimulate growth, so crucial in creating jobs and easing the pain for those at the bottom.
This was both brash and risky from the Tories, who are now upsetting an ever widening set of key groups:
- Doctors - unnecessary reorganisation of the NHS
- Nurses - unnecessary reorganisation of the NHS
- Teachers - cuts
- Police - cuts
- Army - cuts
- Pensioners - cutting their tax allowances
- Families - cutting access to child benefit and tax credits
- Students and middle classes - trebling tuition fees