Home Business NewsBusiness Autumn Statement- The business measures you need to know

Autumn Statement- The business measures you need to know

23rd Nov 16 1:57 pm

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Chancellor Philip Hammond is delivering his very first Autumn Statement today. Here is everything you need to know on the announcement and what may affect you:

– Doubling UK export funding capacity

– £400m into venture capital funds through the British Business Bank to unlock £1bn in finance for growing firms

– Corporation tax will still fall to 17 per cent by 2020, the lowest rate in the G20

– National Living Wage will rise from £7.20 to £7.50 from April 2017

– £2.3bn housing infrastructure fund to help provide 100,000 new homes in high-demand areas

– £1.4bn on 40,000 extra affordable homes

– Over £1bn to be spent on digital infrastructure

– A raising of the personal allowance from £11,500 – the amount of income on which workers don’t have to pay tax – to £12,500

– A raising of the highest tax threshold to £50,000 by the end of the Parliament

– 100 per cent business rates relief on new fibre infrastructure

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