Labour says Hunt budget unravelling amid criticism on pensions

Shadow chancellor says pension changes are ‘wrong priority, at the wrong time, for the wrong people’

Rachel Reeves claimed that Jeremy Hunt’s budget was “unravelling before our eyes” as Labour criticised the chancellor for handing a tax cut to the wealthiest with his pension changes.

In a 20-minute speech in the Commons, the shadow chancellor accused Hunt of offering “a huge handout to the richest 1% of pensions savers” while doing little to alleviate what is forecast to be the biggest living standards crunch since records began.

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