Income tax cuts will be brought in a year earlier than planned and an extra £1 billion spent to help protect those moving onto universal credit, as part of the 2018 Budget unveiled by the Chancellor Philip Hammond.
Most people will pay less income tax from next April after the personal allowance and higher rate tax thresholds were both increased in the Budget – but higher earners will see part of the gain cancelled out by stealth rises to national insurance.
Stealth changes to national insurance thresholds, which were buried in yesterday's Budget, mean higher rate tax payers won't gain as much as first thought.
The national minimum wage paid to workers aged 25 or over will rise from £7.83/hour to £8.21/hour next April, Chancellor Philip Hammond announced today.
The minimum amount you can save in Premium Bonds will be cut to £25, and people other than parents and grandparents will be able to gift bonds to children, the Chancellor has announced.
Chancellor Philip Hammond has announce a review of the laws governing wedding venues in England and Wales, which could allow couples to tie the knot in the open air.
First-time buyers in shared ownership homes will pay zero stamp duty on the first £300,000 of any home that costs up to £500,000 with immediate effect, the Chancellor has announced. The change will be retrospective back to the last Budget (22 November 2017).