What to expect from the Budget 2016

[section section_id=”” auto_generated=”1″ _made_with_builder=”true”][row][column width=”1_1″ extraclasses=”” _made_with_builder=”true”][text_block text=”<p>Wednesday 16th March marks the date where Chancellor of the Exchequer George Osborne will deliver his Budget to Parliament.</p><p>Mr Osborne has suggested that public finances require an additional £4 billion of savings, with expected cuts set at an additional 50p for every £100 of public spending.</p><p>Below are some of the anticipated announcements for Wednesday's budget:</p><ul><li>Reforming personal independence payments (PIP) for people with disabilities, saving up to £1.2 billion</li><li>A significant increase in insurance premium tax, likely to affect homeowners, tourists and motorists</li><li>Raising the amount at which people enter the 40p tax rate</li><li>Raising the personal allowance rate at which people start paying tax by £300, closer to the target of £12,500 by 2020</li><li>Providing incentives to develop new garden suburbs and market towns</li><li>Introducing tax allowances for people who rent their home our or sell goods online, up to £2,000</li><li>A new 'help to save' scheme, offering up to £1,200 in top up savings for savers</li><li>A rise in the minimum wage for 21 to 24 year olds to £6.96 per hour</li><li>A modification to the proposed 'pay to stay' policy for social housing tenants, introducing rent increases on a sliding scale for household incomes up to £50,000</li></ul><p>For a digest of the budget you can <a href="" target="_blank">book online now</a> to attend Francis Clark's free evening event on 16th March at Living Coasts in Torquay.</p><p>The Budget will also be covered by all major national news sites, including BBC News, so there'll be plenty of opportunities to catch up with the announcements throughout the day.</p>” _made_with_builder=”true”][/text_block][/column][/row][/section]

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