Autumn statement summary.

‘Winners’ after the statement, according to the Telegraph, include:

  • Savers
  • Pensioners
  • Aspiring home owners
  • Taxpayers
  • Workers on state benefits, who earn the minimum wage or who are made redundant
  •  Drivers
  • Parents
  • Tenants
  • Pension savers

    Meanwhile, the BBC summarises the following key points around pay and taxation:
  • ‘Income tax threshold to be raised to £11,500 in April, from £11,000 now
  • Higher rate income tax threshold to rise to £50,000 by the end of the Parliament
  • Tax savings on salary sacrifice and benefits in kind to be stopped, with exceptions for ultra-low emission cars, pensions, childcare and cycling
  • National Living Wage to rise from £7.20 an hour to £7.50 from April next year
  • Employee and employer National Insurance thresholds to be equalised at £157 per week from April 2017
  • Insurance premium tax to rise from 10% to 12% next June’

 

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