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UK Chancellor Autumn 2018 Budget
The Chancellor Phillip Hammond has delivered his third budget , he says austerity is coming to an end and the personal allowance threshold at which most people pay tax at 20% is rising from £11,850 to £12,500. The Higher Rate Income Tax threshold is now from £46,350 to £50,000. Both will take effect in April and after that increases will follow in line with inflation.
The National Living Wage is to rise by 4.9% from £7.83 to £8.21 an hour in April 2019. Beer, cider and spirits prices/tax as well as fuel duty are frozen. Rising in prices are a packet of 20 cigarettes, a 10 gram pack of cigar, tobacco duty and Remote Gaming Duty. There was good news for Stamp Duty and Housing, first-time buyers will receive help if buying in shared housing of up to £500,00. The controversial Universal Credit is here to stay and there is increase in coffers and will hopefully reached the pockets of those who need it. The State of the Economy shows a downgrading due to the wintry Spring weather, there is to be an increase in the employed and wages.
#SIWO GNEWS #196
Content- BBC News
SIWO Reporter: Susanna Dziworshie
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