Comments from UK Chancellor Philip Hammond and his budget statement 22 November 2017
- Brexit talks are in a critical phase
- We are determined the UK will be prepared for every possible Brexit outcome
- UK economy is confounding those who talk it down
- We at last see our debt peaking
- Will increase main R&D tax credit to buisinesses to 12%
- UK tax free allowance for personal income tax raised to £11,850 from £11,500
- Higher rate tax threshold rasied to £46,350 vs £45,000 prior, in 2018
- Petrol/diesel duty frozen
- Will freeze indexation of cap gains corp tax (firms will recieve inflation relief into 2018 but no further)
- Will not lower VAT but will consult on design
- Will bring forward indexing of corp tax againts CPI not RPI in 2018
GBP suffering on the lower forecasts.
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