Another key announcement was that income tax thresholds would be frozen until April 2031 – a year longer than expected – meaning more people will pay higher rates as their pay increases.
Tom Reveley, director of an IT company in Kent, was not inspired by a Budget of “tax, tax, and more tax, unfortunately”.
“I don’t see it putting any kind of emphasis on any form of investment,” he said.
Mother-of-four Lauren Harper, from Eastbourne, said it would affect how she and her husband budget for their family, including food costs.
“The cost of food is astronomical now and to feed a family of six is a huge amount of money,” she said.
The freeze means 780,000 more people will start paying income tax, according to the Office for Budget Responsibility (OBR).
