The average British family has not been anywhere near so fortunate as the highest earners, however, and will be £974 a year worse off by 2015 because of tax and benefit changes introduced since 2010... Can there be any greater fallacy than George Osborne's desperate claim that "we're all in this together"?
The Tory Lie Machine is desperate to distract attention from the fact that they've raised taxes 24 times, and that tax and benefit changes since 2010 will leave the average household £974 a year worse off by the time of the next election - while giving millionaires a tax cut. But when they choose to lie about Labour's plans, we're going to call them out on it.
George Osborne spoke for 55 minutes on Wednesday afternoon but, amid the bluster and the boasts, failed to mention the cost of living crisis even once. Instead, this out-of-touch Chancellor used the Budget to claim that everything is going smoothly, when we all know he has missed his targets on growth, living standards and on balancing the books by 2015.
After three wasted years, we have had another day of complacency from George Osborne. All we heard in a speech of nearly an hour was more evidence of the cost of living crisis and a few misplaced boasts about the state of the economy, despite the fact that this is no recovery at all for millions of families.
Yesterday was a chance for George Osborne to signal he would act to get the economy moving again in order to get the deficit down and begin to turn around his failing ship. Instead he stuck dogmatically to the course which led Britain to the longest double-dip recession since the war and the slowest recovery of any in the last century.