Independent

Autumn statement at a glance: which measures were announced by the Government

K.Thompson3 months ago

Jeremy Hunt is announcing tax cuts, tighter welfare rules and further measures aimed at getting more people into work in his autumn statement.

The speech, delivered on Wednesday to the Commons , is the Chancellor’s main opportunity outside of the Budget to make tax and spending announcements.

Mr Hunt is using the statement to introduce changes aimed at reviving both the UK’s struggling economy and the Tories’ election chances.

In full, the Chancellor has said the package contains 110 measures he hopes will boost growth.

Here is a summary of what has been announced so far:

– Minimum wage

The national living wage will rise by £1.02 to £11.44 from April, with the policy extended to cover workers aged 21 and over for the first time, rather than 23 and over.

It means the lowest paid will receive a boost of £1,800 a year.

– Tighter welfare rules

Welfare recipients who do not find a job within 18 months will be forced to undertake work experience under plans to get more people into employment, Government has already announced.

Those who do not comply with the rules will have their benefits, including access to free prescriptions and legal aid, cut off.

– Universal Credit uplift

However, the Government chose to uplift Universal Credit by September’s 6.7% rate of inflation, despite speculation that it could instead base the increase on October’s lower rate of 4.6% in order to save money.

– Pensions

Pensions will be increased by 8.5% to £221 a week from April, Mr Hunt said.

– Alcohol duty

Alcohol duty will be frozen until August 1 next year, meaning no increase in duty on beer, cider, wine or spirits, while tobacco duty will increase.

0 Comments
0