Labour's shadow chancellor Rachel Reeves says "there wasn't anything yesterday that remotely compensates for the tax increases that we've had under the Conservatives these last four years."
She also pointed out that the Office for Budget Responsibility (OBR) said "not only is the tax burden at a 75-year high, but it will increase every year over the next five years."
It was put to Ms Reeves that the rise in Universal Credit and the national living wage indicates that the Tories are putting themselves on an election footing, and she replied that when that comes next year, the question for people will be if they are better off than they were.
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