Phillip Hammond is currently delivering his spring budget, here are some of the main points:
13:29 £100m for GP triage projects before next winter.
13:27 “Everyone should have access to the NHS when they need it.”
13:25 T-levels- 15 specific career qualifications, including a high quality 3 month work placement
13:22 Funding for 110 new free schools in England
13:20 Using International Women’s Day as a platform, the Chancellor has announced:
-£20m to support the campaign against violence Against Women and Girls
-£12m from tampon tax going to women’s charities
-£5m to returnships to the public and private sector, helping people back into employment after a career break.
13:17 £350 million for the Scottish Governement
13:15 When it comes to the sugar tax that was such a big point of the Autumn statement, the Chancellor said it will rise less due to companies taking more sugar out of their drinks, presumably having the desired affect.
13:10 On tobacco and alcohol he tells MPs that he is introducing a new minimum excise duty on cigarettes based on a pack price of £7.35.
He added that he will make no changes to “previously planned up ratings of duties on alcohol and tobacco.”
13:00 For businesses the Chancellor has promised:
– A number of breaks in business rates for businesses in England, including a £1000 discount for pubs that earn less that £100,000
Hammond promised to tackle tax avoidance by:
-Tackling abuse of foreign pension schemes
-Introducing UK VAT on roaming telecoms services
-Implementing new financial penalties for professionals who enable a tax avoidance arrangement that is later defeated by HMRC
12:50 -The OBR forecast estimates that 2/3 of a million more will be in work by 2021
-Borrowing will fall from the levels predicted in Autumn statement
-Promises that the parliament will not “saddle our children with debt”