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Philip Hammond largest giveaway Budget 2018


Philip Hammond has said the "era of austerity is finally coming to an end", in his last Budget before Brexit.
In a speech lasting more than 70 minutes, Mr Hammond said "we have reached a defining moment on this long, hard journey" after repairing the damage to the public finances. He described it as a Budget for "the strivers, the grafters and the carers," promising them a "brighter future" after years of constraint.

1. Public finances have reached a turning point
2. Employment is at a near record high and the OBR forecasts it is set to keep growing
3. National Living Wage will increase to £8.21
4. The tax-free Personal Allowance will rise to £12,500
5. The Higher Rate Threshold will increase from £46,350 to £50,000 in April 2019
6. £1.7 billion to increase existing work allowances in Universal Credit
7. A new railcard for all young people aged 26 to 30, available nationally by the end of the year
8. Fuel duty will remain frozen for a ninth year
9. Short-haul rates of Air Passenger Duty will not rise
10. Duty on beer, cider and spirits remains frozen
11. NHS funding will increase, including more spending for mental health
12. £650 million for social care next year
13. Lifting the borrowing cap to allow local authorities to build more housing
14. £400 million extra for schools this year
15. A commemorative 50p Brexit coin will be available to buy from Spring 2019
16. Up to £19 million in commemoration of the Centenary of the WWI Armistice
17. £30 billion to improve roads
18. More money for Scotland, Wales and Northern Ireland
19. Over £1.5 billion to support the high street
20. £1 billion more for defence over the next two years
21. Increasing funding to help departments to prepare for Brexit to over £4 billion
22. The Annual Investment Allowance will increase to £1 million from 1 January 2019 to 31 December 2020
23. A 2% digital services tax on large digital firms
24. Further changes to the apprenticeship levy to support employers

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