SPRING BUDGET ANNOUNCEMENT

Spring Budget announcement

What has been announced:-

From last night at 6pm, fuel Duty was cut by 5p a litre until March 2023.

The VAT on the installation of energy efficient products i.e solar panels will be cut.

In April there will be another £500m for local authorities to put into the Household support fund.

The threshold for paying national insurance will raise to £12,570 in July.

Mr Sunak has stated that before the end of this parliament he pledges that income tax will come down to 19%.

There will be an increase in the employment allowance from £4,000 to £5,000.

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