The Budget and it’s key points

Yesterday saw Philip Hammond deliver his third budget as chancellor and focused on areas such as Brexit, the increased expenditure planned in the NHS, updates on the tax system and preparing the country for what he say is a “new chapter” for the economy.

His speech lasted 72 minutes to which he has stated the “era of austerity is finally coming to an end” This was supported by the drastic fall in the country deficit from 9.9% in 2009-2010 to 1.9% currently

Below is a summary of the chancellors key points raised in his budget

 

The Economy

 

Personal Taxation & Wages

 

Welfare & Pensions

 

Business

 

Brexit

 

NHS & Health

IR35

IR35 reforms have finally been confirmed to affect the private sector, however the introduction will be delayed until April 2020 and will only affect large and medium sized businesses.