Abstract
The problems involved in trying to measure the effect of the budget on the distribution of lifetime income are reviewed. A comparison is made of the likely differences between the stylised facts of annual incidence studies and the possible lifetime impact of the budget. Annual studies show that redistribution to the poor occurs, primarily as a result of pensions. It is likely that the lifetime incidence of the budget is broadly neutral since pensions will not accrue mainly to the lowest deciles when a lifetime income perspective is taken.
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