Britain Autumn statement set to begin
Following her quest to actualizing the brexit formation cum economic fiscal policy, British Chancellor of the Exchequer Philip Hammond is set to announce a ban on letting agency fees in a bid to reduce the costs for 4.3m
people who rent and help ensure that their “money goes further”.
Philip Hammond will scale back planned cuts to Universal Credit, with an estimated three million families keeping an additional 2p for every extra pound they earn.With changes to the "taper rate" for Universal Credit, the Chancellor hopes to soften the impact of welfare cuts introduced by his predecessor George Osborne.Mr Hammond got an eve-of-statement boost as official figures showed the Government had borrowed a less-than-expected £4.8 billion last month.
Philip Hammond will scale back planned cuts to Universal Credit, with an estimated three million families keeping an additional 2p for every extra pound they earn.With changes to the "taper rate" for Universal Credit, the Chancellor hopes to soften the impact of welfare cuts introduced by his predecessor George Osborne.Mr Hammond got an eve-of-statement boost as official figures showed the Government had borrowed a less-than-expected £4.8 billion last month.
Chancellor Hammond is
set to invest some £1bn into the welfare system to ease the impact of
cuts introduced by his predecessor George Osborne. Our deputy political editor Steven Swinford reports:
More than £1bn will be diverted into the welfare system in a move designed to ease the impact of cuts introduced by George Osborne, the Chancellor will announce today.Philip Hammond will use his inaugural Autumn Statement to increase the amount of benefits that claimants can keep while in work.
It marks a significant departure from the benefit cuts imposed by David Cameron and forms part of Theresa May’s bid to appeal to families who are “just managing” to get by.
The Chancellor will also announce a ban on letting agency fees in a bid to reduce the costs for 4.3million people who rent and help ensure that their “money goes further”.It comes less than six months after Mr Cameron’s Government warned that the approach will hit buy-to-let landlords and lead to higher rents.
However Mr Hammond’s room for giveaways is likely to be hampered by official forecasts expected to show that the UK faces an additional deficit of up to £100billion over the next four years in the wake of the Brexit vote.
More than £1bn will be diverted into the welfare system in a move designed to ease the impact of cuts introduced by George Osborne, the Chancellor will announce today.Philip Hammond will use his inaugural Autumn Statement to increase the amount of benefits that claimants can keep while in work.
It marks a significant departure from the benefit cuts imposed by David Cameron and forms part of Theresa May’s bid to appeal to families who are “just managing” to get by.
The Chancellor will also announce a ban on letting agency fees in a bid to reduce the costs for 4.3million people who rent and help ensure that their “money goes further”.It comes less than six months after Mr Cameron’s Government warned that the approach will hit buy-to-let landlords and lead to higher rents.
However Mr Hammond’s room for giveaways is likely to be hampered by official forecasts expected to show that the UK faces an additional deficit of up to £100billion over the next four years in the wake of the Brexit vote.
At a glance | The Autumn Statement
What is the Autumn Statement?The Autumn Statement is an annual update on the government’s plans for the economy
When is it?23 November 2016 at about 12.30pm
How does it differ from the Budget?The Autumn Statement tends to be less weighty, with fewer announcements, and ones that have tended to be of less significance
What should we expect?This will be Chancellor Philip Hammond's first Autumn Statement, and his first opportunity to outline his priorities for taxes and spending in the wake of the Brexit vote. PM Theresa May says the Chancellor will 'lay out an agenda that is not just ambitious for business, but ambitious for Britain. He will do more to boost Britain's long-term economic success... He will make sure Britain outside of the EU is the most attractive place for business to invest.'
When is it?23 November 2016 at about 12.30pm
How does it differ from the Budget?The Autumn Statement tends to be less weighty, with fewer announcements, and ones that have tended to be of less significance
What should we expect?This will be Chancellor Philip Hammond's first Autumn Statement, and his first opportunity to outline his priorities for taxes and spending in the wake of the Brexit vote. PM Theresa May says the Chancellor will 'lay out an agenda that is not just ambitious for business, but ambitious for Britain. He will do more to boost Britain's long-term economic success... He will make sure Britain outside of the EU is the most attractive place for business to invest.'
Comments
Post a Comment
Disclaimer: The views and comments signpost here remains the authentic representation and absolute expressions of those whose comments appears here as Sprint24online takes no responsibility thereof. Thanks