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Autumn Budget Summary 2017
Prospects for growth, especially for productivity have been downgraded, but the Chancellor was bullish in his forecasts for investment and the Government’s intention to sort out the slow pace of house building in the UK. A few non-tax comments of note were:
- Unemployment at its lowest rate since 1975.
- Chancellor is providing an extra £3bn to prepare for Brexit over the next two years.
- Government to create 5 new garden towns, make better use of land and aim to be building 300,000 new homes a year by the mid-2020s.
- Devolved administrations will have more money to spend. An increase of £2bn for Scotland, £1.2bn for the Welsh Government and £660m for the Northern Ireland Executive.
Our summary of a selection of specific tax changes and other budget announcements for 2018-19 and future years follow.