Earlier today, the Chancellor set out our Growth Plan. The plan set an ambitious target for growth, securing sustainable funding for public services and improving living standards for everyone. Putting more money back into the pockets of businesses and families. The measures include:
- A cut in the Basic rate of income tax cut to 19% in April 2023 – one year earlier than planned – with 31 million people getting on average £170 more per year.
- A cut in National Insurance.
- Cancelling the corporation tax rise, keeping it at 19% as the government sets sights on a 2.5% trend rate for growth.
- Stamp Duty cuts to help people on all levels of the property market and lift 200,000 homebuyers every year out of paying the tax altogether.
- Alcohol Duty frozen - backing pubs and the hospitality industry.
More details here - bit.ly/3xMvjoD
