Chancellor Philip Hammond described his first and last Spring Budget as one that “takes forward our plan to prepare Britain for a brighter future.”
The Chancellor confirmed that from April 2017:
• the national living wage will be £7.50 an hour
• personal allowance will increase to £11,500 and the higher rate threshold to £45,000 (£43,000 in Scotland)
• a new NS&I bond paying 2.2% on deposits up to £3,000.
This downloadable PDF report summarises the announcements made by Chancellor George Osborne during the Spring Budget 2016 on 8th March 2016.