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Autumn Statement 2016: Other Announcements

Chancellor Philip Hammond has finished delivering his Autumn Statement 2016.

Here is our summary of other key announcements from his speech:

Budget And Autumn Statement Switch

The Budget will move to the autumn from 2017 (though there will be final spring Budget in 2017).

There will be a Spring Statement in 2018 which will respond to the Office for Budget Responsibility’s forecast, but will not be a major fiscal event unless necessary.

Fuel Duty Frozen

Fuel duty will be frozen for another year.

Transport

An additional £1.1 billion for English local transport.

Broadband

£1 billion to help private investment in full-fibre broadband networks and the trailing of 5G.

Local Growth Fund

£1.8 billion from the Local Growth Fund will be allocated in different English regions. Including £556 million in the North and £542 million in the Midlands and East of England.

LIBOR Funds To Charities

Armed forces and emergency services charities will receive £102 million of LIBOR funds.

For any help or advice with financial planning talk to RPD

 

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