George Osborne’s emergency Budget was more positive than expected, except for those in civil service jobs and the public sector at large.
That is according to Martin Bamford, of the Chartered Financial Planners Informed Choice, who said that the chancellor of the exchequer’s announcement appeared to benefit most sectors and sections of society, bar two.
He said: “This was a better than expected Budget, unless you are a public sector employee or on benefits.
“For investors and business owners, the measures announced were mainly better than expected.”
All public sector employees, except those earning less than £21,000 per year, will be hit with a two-year pay freeze from 2011-12.
Mr Osborne unveiled his emergency Budget – his first as chancellor – earlier this week, revealing a number of measures set out to cut the deficit as quickly as possible.
Some of the larger initiatives include the increase of VAT to 20 per cent and an increase in the threshold for income tax.
