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John Healey’s first Budget as Chancellor of the Exchequer was briefed as being a low-key affair, with little by the way of tax reform. And so it proved. The ambitions for this Budget were to provide some targeted cost-of-living support to those most under pressure, reassure the bond markets of the Government’s fiscal credibility, and pursue measures that help the economy to grow. Given that these objectives can be in tension, the measures announced by Healey were limited and small scale.
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