... generic school readiness targets with no specific targets for lower income children) don't match up to that, and the early years attainment gap is going up (need to be careful to say we can't say definitely causative on those policies - but it's a real risk they are contributing to it)

(also obliged to include this link re the photo of RR from today - commons.wikimedia.org/wiki/File:Ch...

Have a look at the SMF's full response here:

www.smf.co.uk/chancellors-...

👪 Very happy personally to see the end of the two child cap - the more children growing up in poverty, the fewer able to reach their potential - with long term impacts for social mobility - and with it the wider economy.

🛠️ Great news on apprenticeships, with free apprenticeship training for under 25s for SMEs.

🎓 Disappointingly, we had very little extra information on the targetting of maintenance grants - we still don't know which subjects will qualify or how many students will actually benefit.

🌍 While it will cut energy bills in the short term, there are also major risks from cutting the Energy Company Obligation – both in meeting our climate targets, and in the long-term costs for households who would have benefitted.

🚗 The design of the pay per mile scheme for EVs poses the real risk of collapsing, or at least considerably weakening, the EV market in the UK.

👵 Changes to the salary sacrifice pension scheme risk disincentivising saving, and bigger changes, like switching from the triple to a double lock, have again been avoided.

🏠 There has also been only relatively minor tinkering to council tax, a system that has long been in need of a major overhaul.

💷 Income tax thresholds have again remained frozen, with associated cost of living impacts, and government has again avoided larger, and potentially much fairer, reforms to the income tax system.

With the time you have left before Rachel Reeves stands up (when I know you'll just be re-loading Bluesky anyway), why not take a look at the SMF's full pre-budget briefing (including the risks of taking the 'lots of small tax rises' approach widely expected today):

www.smf.co.uk/publications...

... but it also risks detering those on middle incomes from investing in their pensions. A far better option would be switching from the triple to a double pension lock to make savings.

👴🏼 PENSIONS: It's also been rumoured government will make changes to the salary sacrifice scheme for pensions - arguably a progressive step (as the greatest benefit goes to those on higher salaries)...