The 2017 Spring Budget

Submitted by Andreas Wasmuht on

The top 10 announcements and measures include:

  1. £2bn extra for adult social care over next three years, with £1bn available in the next year
  2. National insurance contributions for the self-employed will rise from 9% to 10%
  3. No changes to be made to income tax or VAT
  4. Personal tax free allowance will rise to £11,500
  5. Reduction in tax-free dividend allowance for shareholders and directors of small private firms from £5,000 to £2,000, raising £2.63bn by 2021-2022
  6. £435m for firms affected by increases in business rates, including £300m hardship fund for worst hit
  7. Growth forecast for 2017 upgraded from 1.4% to 2%, but downgraded to 1.6%, 1.7%, 1.9% and 2% in subsequent years
  8. Annual rate of inflation forecast to rise from 2.3% to 2.4% in 2017-18
  9. Annual borrowing £51.7bn in 2016-17, £16.4bn lower than forecast, then projected to rise to £58.3bn in 2017-18, £40.6bn in 2018-19, £21.4bn in 2019-20 and £20.6bn in 2020-21
  10. £16m for 5G mobile technology and £200m for local broadband networks

 

In order to download the full 2017 Spring Budget please click here.

 

 


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