Fresh austerity measures, changes to income tax and the scrapping of a radical overhaul to the pensions system have dominated the headlines ahead of the 2016 Budget. But what money measures does the Chancellor have in store today? Here’s what to expect.
Income tax
One of the Conservatives’ pre-election pledges was an increase in the threshold for the higher rate of income tax towards £50,000 by the end of the parliament, and a rise in the tax-free personal allowance to £12,500. Despite stringent criticism over the funding for these measures (including cutting support for the disabled), George Osborne could raise both faster than anticipated.
Fuel Duty
Ah, this old chestnut. Unsurprisingly, motorists are vehemently opposed to any hikes in fuel duty – which has been frozen since 2011 – not least because fuel duty in the UK is among the highest in the world.
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It is always interesting to watch a dam burst. In the past week, as Elon Musk and other prominent Americans discovered the British ‘grooming gang’ scandal, British politics has suddenly had to face up to something it has spent a quarter of a century trying to ignore. One would hope that the claim that thousands
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