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The budget announced by Philip Hammond on the 26th of October was surprisingly low key given those of the past couple of years – the overriding focus being that austerity is over.

Points of interest included:

– The national living wage will increase from £7.83 per hour to £8.21 per hour in April 2019.

– The personal allowance will increase to the targeted £12,500 in April 2019, one year ahead of schedule.

– The 40% threshold will also increase to £50,000 in April 2019, one year ahead of schedule.

– GDP is forecast to increase above the previous expectation, signalling an improved outlook.

With Brexit now less than a year away the chancellor has suggested that there could be an emergency budget to address issues closer to the time.

That said, the next 6 months will prove important following the positive messages from the UK Chancellor.

If you are unsure how the Autumn budget may affect you, speak to your Financial Planner or call Vintage on 01642 52 50 50.

*The information in this guide was correct as at 29th October 2018 and may be subject to change. This article does not constitute as personal advice.

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This post was written by Anthony Long