As the Chancellor stated in his latest budget, the hard work of the British people combined with the Conservative Government's sound economic management means austerity is ending. Budget announcements included:-
- Cutting income tax for 32 million people, saving a typical basic rate tax payer £1,205 compared to 2010-11.
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Increasing the National Living Wage by nearly 5%, delivering a £690 annual pay rise for some of the lowest paid full time workers.
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Delivering the biggest cash boost in NHS history - funding for our NHS will rise by £20.5 billion a year - for NHS mental health services we're committing £2 billion a year, providing increased local community support.
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Backing British high streets. By cutting business rates by one third for 2 years - saving up to 90% of all shops up to £8,000 a year.
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Local high streets will also benefit from £675 million to improve transport links, redevelop empty shops as homes and restore and reuse old and historic properties - there will also be 100% rates relief for public toilets!
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Supporting people on Universal Credit by increasing work allowances - the money families can earn before losing benefits - by £1000, worth £630 a year to those households.
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Introducing a new digital services tax - so from 2020 large digital firms, e.g. those operating globally, will pay 2% on the revenues they earn which are linked to UK users.
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Helping more people get on the housing ladder - e.g.committing over £7.2 billion to a new Help to Buy Equity Loan scheme to support 110,000 first time buyers in England.
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Fuel duty frozen again, for the ninth year, saving the average car driver a cumulative £1,000 since April 2010.