Spring budget 2017 highlights
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Transcript of 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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