The DUP MP said, a“The more the Budget proposals are examined the more severe the consequences appear to be for both the low paid and those on above average salaries.
The raising of the minimum wage is itself a good thing which we in the DUP have long advocated, but because of the decision not to raise the threshold at which income tax begins to be paid, it means almost all the 1.6million people on that wage will become tax payers.
This in turn means the general public will pay for the rise in pay and the increased NIC's as nearly all the people affected are employed in the private sector, for example in the hospitality sectors, but the Treasury will reap hundreds of millions every year in extra tax revenue.
Then the higher rate tax payers will be hit as pensions will now be included in a person's estate when they die. Up until now pensions were exempt from a persons estate. There will be a number of family farms in Northern Ireland that will be hit with the Inheritance Tax proposals, again the Treasury will be the winners with many rural dwellers being put in a dilemma as to how the tax bill will be paid as the main asset is the actual land rather than any available equity in cash.
Whatever other benefits that arise from this budget these measures are a massive blow to working people right across the salary scale, despite the Governments attempts to portray themselves as the champions of 'working people'.”