Here is what was in it and what the headline announcements mean for UK households.The Chancellor used his Budget to confirm free childcare support will be widened, extend household energy assistance and revamp the amount savers can have in their pensions before being taxed.
The full offer of childcare support for all under fives will become available to those eligible by September 2025, the Chancellor said. His confirmation that the corporation tax rise will go ahead as planned, rising from 19% to 25% next month, is unlikely to go down well with big business or the free marketeers on the Conservative backbenches.As much as the Treasury chief wanted to focus on growth, sustained high energy bills meant further handouts were given as part of helping households and businesses deal with rising costs.
A 5p cut to fuel duty will continue for a further 12 months, with the Chancellor predicting a saving of £100 next year for motorists. As widely reported, the Chancellor said the £40,000 cap on tax-free annual pensions contributions will rise to £60,000. His pre-Budget day messaging followed on from a sober autumn statement, in which the Chancellor and Prime Minister Rishi Sunak preached fiscal responsibility in the aftermath of last year’s mini-budget that sent the value of the pound tumbling during Liz Truss’ brief premiership.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SkyNews - 🏆 35. / 67 Read more »