28-02-2020

The budget will soon be upon us. Although it was thought there could be a delay the new Chancellor has pencilled in the 11 March.

Various snippets of what was likely to be in the budget now seem set to be scrapped. The fear of a backbench rebellion from conservative MPs has now given an expectation that the pension tax relief cut to high earners will not go ahead. This cut was contentious insofar as it was seen as a multi-billion pound revenue stream for the Prime Minister in what is known as his ‘levelling up’ agenda for the North.

Following hot on the heels of the pensions back down is also the possibility that those who live in larger homes may not be subject to what has become known as the ‘Mansion tax’.

So in the budget listen closely to what the Chancellor states and certainly listen out to the possibility that it is going to cost us more to get to work and anywhere else we wish to travel, as there could be a significant increase in fuel duty.


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