Spring budget 2017 highlights

Spring Budget 2017 Highlights

A further 650,000 people expected to get employment by 2021

Personal tax-free allowance to rise as planned to £11,500 this year and to £12,500 by 2020

2017 202011,000

11,200

11,400

11,600

11,800

12,000

12,200

12,400

12,600

11,500

12,500

Official forecasts estimate that the cost of living will rise at 2% or above for the next three years

The minimum wage for over 25s would rise to £7.50 an hour

Health and Social Care

1

£100m to place more GPs in accident and emergency departments for the next

winter.

2

£325m for the NHS sustainability

and transformation.

3

24p per litre extra tax on most sugary soft-

drinks to reduce childhood obesity.

Education

1

£325m for 110 new free schools

and grammar schools.

2

£300m for 1000 new PHD places & fellowships in STEM (Sci, Tech, Engg,

Maths).

3

£216m for upgrading existing

schools.

Transportation

1

£270m for new technologies such as robots and driverless

vehicles.

2

Transport spending of £90m for the north of England

3

£690m competition fund for English

councils to tackle urban congestion.

Mobile & Internet

1

£16m for 5G mobile

technology.

2

£200m for reliable full-fiber broadband

networks.

Insurance

1

Rate for Class4 NICs (National Insurance Contribution) would rise from 9% to 10% in April 2018, and to 11% in 2019 for those making a

profit of more than £8,060.

Alcohol & Tobacco

1

Tobacco will rise by 2% above the Retail Price Index (RPI) inflation. A packet of 20 cigarettes will cost

35p more.

2

The duty rates on beer, cider, wine and spirits will increase by RPI inflation. This

will equate to 2p on a pint of beer, 1p on a pint of cider, 36p on a bottle of whiskey &

32p on a gin bottle.

Info Source: www.gov.uk

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