This is the last spring budget to be delivered by a UK Chancellor.
Councils to be given £2 billion additional grants to deal with increased demand for social care, and ease pressure on the NHS.
Chancellor acknowledged that business rate revaluation has created problems, and looked to address this by an additional cap on rates for small business, together with relief for pubs, amounting to £435m support.
Is planned to fall to 19% this year, and to 17% by 2020, which, in the Chancellor's words, gives the UK the most attractive corporate tax regime in the G7.
Tax relief for dividend payments to shareholders to fall from £5000 to £2000 in 2018.
Investment of £300m in STEM (science, technology, engineering and mathematics) subjects and new technologies.
To rise to £11,500 (with commitment to increase this to £12,500.)
To rise to £45,000.
National insurance contributions (NICS) –
self-employed workers to be brought into line with the employed,
with NICS increasing from 9% to 10% in April 2018. (Note,
planned changes to National Insurance
were scrapped just a week after the budget, on March 15th
(Note, planned changes to National Insurance were scrapped just a week after the budget, on March 15th 2017)
The Chancellor acknowledged that markets fail, and announced that there will be schemes to improve the level of consumer protection, especially in terms of clearer terms and conditions.
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