Budget 2018

November 30th, 2018

Our simple summary of the Budget 2018

Budget 2018 – the key points  £2.7bn more for Universal Credit   Personal allowance for income tax to rise to £12,500 next year   Higher rate income tax to rise to £50,000 from £46,000   Freeze on : fuel duty, beer, cider duty (not white cider) and spirits duty  Rise in : wine duty from February, price of cigarettes immediately  £1bn for MoD for defence spending (for cyber/submarine capabilities)   Business rates relief for small businesses and high street retailers   £500m extra for no-deal Brexit preparations    £650m for local councils to help with social care pressures, on top of social care emergency winter allowance   Scrapping of Stamp Duty for those entering into a first-time shared ownership scheme  £400m for schools to buy
Budget 2018 – the key points £2.7bn more for Universal Credit  Personal allowance for income tax to rise to £12,500 next year  Higher rate income tax to rise to £50,000 from £46,000  Freeze on : fuel duty, beer, cider duty (not white cider) and spirits duty Rise in : wine duty from February, price of cigarettes immediately £1bn for MoD for defence spending (for cyber/submarine capabilities)  Business rates relief for small businesses and high street retailers  £500m extra for no-deal Brexit preparations   £650m for local councils to help with social care pressures, on top of social care emergency winter allowance  Scrapping of Stamp Duty for those entering into a first-time shared ownership scheme £400m for schools to buy "the little extras they need" - £10,000 per primary school and £50,000 per secondary school A new 50p coin to commemorate the UK leaving the EU  Lots of terrible jokes

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