<\/p>\n
13.20: The National Wealth Fund and British Business Bank will commit funds to the defence industry.<\/p>\n
13.19: \u00a310bn additional support for Ukraine which \u201csends a message to Moscow\u201d.<\/p>\n
13.09: Extra funding announced in advanced technologies in Edinburgh and Glasgow.<\/p>\n
13.08: New tax relief announced for company founders. <\/p>\n
13.07: Extra \u00a320.4bn for the National Wealth Fund. British Business Bank to double its commitment to female-led businesses.<\/p>\n
13.04: \u00a3140m investment to keep AI development in Britain.<\/p>\n
12.59: Surcharge on banks will rise by 3% but will be time-limited, starting in January and ending 15 months later. The lower than expected rise saw Barclays\u2019 share price up by 2.5% while NatWest\u2019s has risen by 2.4%. Lloyds Banking Group\u2019s share price is also up 1.9%.<\/p>\n
12.58: Confirms that the planned changes to ISAs will not go ahead. He will work with the sector on a new Starter ISA to help make investment more accessible.<\/p>\n
12.53: Increases the threshold on business rates relief from \u00a312,000 to \u00a318,000 in England, taking 70,000 businesses out of paying any business rates. This will be partly met by raising taxes on gambling.<\/p>\n
12.52: Increasing both the National Minimum Wage and the National Living Wage by 3.9% \u201cfor 2.3 million of our lowest paid workers\u201d<\/p>\n
12.50: 5p fuel duty cut extended to July 2027.<\/p>\n
12.47: VAT cut on electricity bills is extended to July 2027. Announces \u00a3100 energy payment for A-D band council tax payers in England and invites the devolved governments to to follow suit. Confirms abolition of standing charges on gas bills.<\/p>\n
12.46: Healey says borrowing will be down to 1.8% by 2030\/31. On debt as a percentage of GDP, Healey says its forecast to fall by 81.7% in 2031\/32.<\/p>\n
Healey says the IMF pointed out that the UK now \u201cstands out\u201d as a country where action to reduce debt and deficit has been taken decisively.<\/p>\n
\u201cThey project our UK deficit will be the lowest in the G7 by 2029.\u201d<\/p>\n
12.44: Chancellor says he will take the \u201cradical reform of our energy to reduce bills\u201d.<\/p>\n
12.37: The fiscal rules will be kept. Says he will not raise tax on working people. He describes it as a buget \u201cfor the \u201cworking people of Britain, for British businesses big and small\u201d.<\/p>\n
12.34: Chancellor pays tribute to his predecssor Rachel Reeves who, he says, \u201c\u201dtook the decisions required.<\/p>\n
12.32: Chancellor\u2019s statement begins<\/p>\n
Refresh for updates<\/p>\n
\t #Chancellors #statement #direct #Commons #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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