London mayor Sadiq Khan welcomes progress made on devolution to London in the Budget March 8, 2017 Chancellor Philip Hammond delivered a historic devolution agreement for Londoners today to "protect jobs and investment in the aftermath of Brexit". The devolution agreement focussed on infrastructure projects to help London mayor Sadiq Khan upgrade the capital's road, rail and Underground networks and boost its economy. It also confirmed the devolution of new powers to allow the mayor [...]
Budget 2017: Business reacts to government’s relief measures for business rates March 8, 2017 Today, chancellor Philip Hammond announced a handful of measures intended to cushion the blow of business rate rises this year, including a £300m relief fund that will be distributed to local authorities. In addition, Hammond said small pubs will get a £1,000 reduction on their business rates bill this year, a handout that will help [...]
Budget 2017: Winners and losers of Philip Hammond’s Spring Budget March 8, 2017 Today, chancellor Philip Hammond delivered his first (and last) Spring Budget. Here are the day's winners and losers. Read more: Budget 2017: Philip Hammond's speech in full Winners Tech got quite the showing in Hammond's Budget. The chancellor pledged millions of pounds of fresh funding for disruptive new technologies like robotics, electric cars and biotech along with plans to [...]
Budget 2017: Chancellor Philip Hammond delivers boost to FTSE March 8, 2017 Philip Hammond's Budget announcements drove the FTSE 100 into positive territory for the day this afternoon. While no individual companies or sectors appeared to rise or fall too strongly, the FTSE 250 and FTSE 350 indices also edged up after the chancellor spoke. Read more: This is what the Budget had to say about UK [...]
Budget 2017: Philip Hammond’s national insurance hike prompts accusations Tories reneged on manifesto pledge March 8, 2017 Philip Hammond unleashed a set of measures aimed at closing the gap between the employed and the self-employed in today's Budget. The chancellor said he would raise the main rate of class 4 national insurance contributions (NICs) for the self-employed by one per cent to 10 per cent from April next year, with a further [...]
Budget 2017 UK: Robotics, 5G, broadband and everything promised for “disruptive” tech by Philip Hammond March 8, 2017 Millions of pounds in fresh funding has been promised for disruptive new technologies such as robotics, electric cars and biotech by the government. Chancellor Philip Hammond pledged new cash for development of the technologies in the Spring Budget along with plans to get started on creating a 5G network in the UK and boost broadband. How [...]
Budget 2017: This is what the Budget had to say about UK house prices March 8, 2017 UK house price growth will be cut by almost half by 2018, according to predictions from the Office for Budgetary Responsibility (OBR). The OBR has released its predictions for house price growth along with chancellor Philip Hammond's first (and last) Budget today, and it seems house price rises will be tempered over the next five [...]
Budget 2017: London Mayor Sadiq Khan “disappointed” there was no Budget backing for Crossrail 2 March 8, 2017 London mayor Sadiq Khan said he was "disappointed" that the government didn't back Crossrail 2 in today's Budget. While the mayor said he was pleased to see progress on devolution, other areas were notably missing from Philip Hammond's announcements. “London did not get everything we needed today," said Khan. "I am disappointed that the government [...]
Budget 2017: Tax hike for self-employed as class 4 NICS changes announced by Chancellor Philip Hammond March 8, 2017 Self-employed workers across the UK are facing a tax hike, after Philip Hammond announced he will do away with lower national insurance payments for freelancers. From April 2018, the main rate of class 4 national insurance contributions for the self-employed will increase by one per cent to 10 per cent, with a further one per cent [...]
Budget 2017: The tax-free dividend allowance has been cut from £5,000 to £2,000 – this is what it means for you March 8, 2017 Chancellor Philip Hammond announced today that the tax free dividend allowance is being cut from £5,000 to £2,000. Hammond said he was taking action to reduce the tax differential between the self-employed and employed – but what does it mean for the UK? Lower "salaries" Many self-employed people provide their services through companies, paying themselves dividends [...]