Reported by The Guardian
The Guardian’s money and economics editors Hilary Osborne and Heather Stewart answered your questions on energy prices, tax thresholds and the global events pressuring the economy.
Thanks for all the thought-provoking questions, what a great way to round off our budget coverage! – Heather
Thanks for all of your questions. Sorry we couldn’t get through them all - hopefully we will answer more of them over the coming weeks and months as more details come out– Hilary
More from the original report
iojo asks: There is talk of ‘devolution deals’ with various mayors but its central government that still holds the purse strings. If devolution is to be a reality then there must be stronger tax raising powers. Shouldn’t reform of Council Tax be at the top of the agenda?
double quotation mark Heather says : So the budget did include new devolution proposals, which will see mayoralties keep some of the income tax and all the business rates raised in their area. I think it’s true both that these are significant reforms, relative to the historic British norm - and that we’re still among the most centralised major economies when it comes to tax and spend. Completely agree with you that council tax needs to be reformed. Rachel Reeves bolted on a new levy for homes worth £2m but it hasn’t come in yet; the money goes straight to the Treasury; and it makes the system even more complicated. It’s just mad that we’re all still paying council tax based on 1991 valuations, because no government since has been brave enough to revalue.
RichienotsoRich asks : Question for Hilary/Heather. Would the Chancellor, and all politicians for that matter, improve their credibility with voters by reminding us of the one off costs that the country endured due to COVID and Ukraine? Estimates for COVID range up to £410bn. The Energy Cap in 2022 another maybe £150bn. That translates into perhaps half a Second World War. Obviously Brexit costs can be estimated too but the debate falls into tribalism. The others are essential context surely?
double quotation mark Heather says: Yes, I think every chancellor should…