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Rachel Reeves has unveiled a £14bn package deal to restore the UK economic system in her spring assertion, because the UK’s funds watchdog halved its forecast for financial development to only one per cent.
The chancellor confirmed a squeeze on the welfare funds and cuts to the civil service, whereas detailing an increase in defence spending and a rise in Common Credit score (UC).
Wednesday’s assertion noticed Ms Reeves face criticism from the Conservatives, who claimed she had “tanked the economic system” and was “reckless” with the fiscal headroom she had left herself with.
There was no change introduced to limits on the money Isa as had been mooted, however newly introduced adjustments to UC and the upcoming alterations to Nationwide Insurance coverage Contributions and the minimal wage should still have an effect on your monetary place.
Comply with response to Ms Reeves’ assertion right here in our dwell weblog.
The Impartial’s Price range calculator under, created by tax advisory agency Blick Rothenberg, will enable you to find out whether or not you might be higher or worse off following Wednesday’s assertion.
Enter your particulars together with how a lot you earn, marital standing and household particulars to see how your funds might be affected.
