This afternoon in Parliament, the Chancellor delivered his Budget statement focused on Enterprise, Employment, Education and Everywhere. Despite enormous global challenges, the UK economy is proving the doubters wrong, avoiding recession with growth forecast to return. The measures set out today will also help deliver on the government’s priorities to halve inflation and reduce debt so we can create better-paid jobs and opportunities right across the UK:
- Extending 30 hours of childcare a week to working parents of children aged 9 months to 4 years
- Paying Universal Credit childcare costs up front rather than in arrears
- Introducing a £25 billion three-year tax cut for business investment
- Increasing the annual pension allowance to £60,000 and abolishing the Lifetime Allowance
- Establishing a new Universal Support programme for disabled people and the long-term sick
- Abolishing the Work Capability Assessment and increasing the Administrative EarningThreshold to 18 hours
- Extending the Energy Price Guarantee at £2,500 for three months
- Freezing fuel duty for a thirteenth year,saving the average driver around £200
- Delivering a Brexit Pub Guarantee so draught duty will always be less than duty in supermarkets
By doing this we will remove the obstacles that stop businesses from investing, tackle the labour shortages that stop them recruiting, break down the barriers that stop people working and harness British ingenuity to make us a science and technology superpower.
More information here.
