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But a substantial chunk, around £4bn, would fund tax cuts.
Budget: Plans to use $46 billion, one quarter of the budget surplus, to fund tax cuts.
The cost of almost all council services has sky-rocketed, to fund tax cuts that disproportionately benefit the wealthy.
David Davis, who will make a speech on the issue, called yesterday for more spending reductions to fund tax cuts.
The budget calls for a slight decrease in the general fund tax and about a 2percentt rise in the police fund tax in areas served by county police.
It calls for a slight general fund tax cut and a $64 million increase in spending — about 2percentt.
But critics suggest that the savings have been used to fund tax cuts for the well-off.
Similar(4)
Advisers Hargreaves Lansdown say that for anyone who dies under the age of 75, "any beneficiary can inherit some or all of your remaining fund, tax-free.
And if employees are due to receive more than £30,000 they can ask their employer to add the excess to their occupational pension fund tax-free.
■ You will be able to take 25% of your fund tax-free and withdraw as much or as little of the rest of your money as you like.
General American's low turnover makes the fund tax-efficient, meaning he doesn't deposit unwanted capital-gain distributions on shareholders.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com