How will the Autumn Statement impact your investments?
Our live coverage of the Autumn Statement is now complete. Read on to find out what was said, what the announcements could mean for your money and how markets reacted.
First up, phew…
The Chancellor has got through an Autumn Statement without causing mass market panic, so already that’s an improvement on this time last year. The FTSE was down slightly and the sterling flat against the dollar.
Jeremy Hunt went into the statement with an anticipated £25bn of cash to play with, courtesy of the ‘stealth tax’ imposed in the spring Budget by the freezing of the income tax threshold. Inflation and wage growth alongside this tax threshold freeze has led to fiscal drag, which means more people are paying tax at a higher rate, thus topping up the government’s coffers and giving some financial headroom for tax cuts.
That’s good news for those playing politics. There is a general election next year and the government has been in need of some positive news to share with potential voters. The measures set out in this statement feel like an attempt to appease the population before they head to the polls.
Here are mine and Paul’s thoughts on some of the highlights:
Business tax updates
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