Are you wondering how this week’s budget could impact you?
Download our summary of the key points from the Budget,
Driving business investment
The Chancellor announced a £27 billion transformation of capital allowances from April this year, which will include the Full Expensing of investment in qualifying plant and machinery. There was also a £500 million package for research and development intensive businesses. In addition, Hunt announced 12 Investment Zones across the UK with funding for skills and support.
Removing barriers to work
Reforms to childcare, which will see expanded free care and subsidies, were key to Hunt’s plans to remove the barriers to work for parents, the disabled and the over-50s. The Chancellor also made changes to the pension system to incentivise doctors and other highly-skilled workers to remain in the labour market.
As high energy costs continue, the Chancellor extended the Energy Support Guarantee at £2,500 for another three months while fuel duty was frozen once more.
Here we summarise the key announcements with our insights on the potential impact for you, your family and your business.
Next steps
As always, should you have any questions relating to the budget announcements and how they will affect you, please do get in touch.
