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Spring budget 2017: New London devolution deal announced

PUBLISHED: 14:41 08 March 2017 | UPDATED: 16:14 08 March 2017

This was the first spring budget given by Philip Hammond. Picture: PA Images.

This was the first spring budget given by Philip Hammond. Picture: PA Images.

AP/Press Association Images

Today Chancellor Philip Hammond addressed a packed House of Commons to deliver his first, and final spring budget.

The hour-long speech omitted any mention of Brexit or climate change, but included other pledges on everything from the economy to education, as follows.

1) LONDON: Devolution to the capital was given a boost by the Budget, with new powers handed down to London by the chancellor.

2) ECONOMY: Growth forecast upgraded from 1.4 per cent to 2pc, real wages will rise through to 2020.

3) BUSINESS RATES: Relief package of £435m announced for small businesses. 90pc of pubs will be given a £1,000 discount on business rates this year. Any business coming out of small business rate relief will not see their bill increase by more than £50 a month, and subsequent increases will be capped.

4) SELF-EMPLOYED: Class 4 contributions by the self-employed will increase by 1p in the pound to 10 per cent in April 2018, with a further 1pc in 2019.

5) HEALTH: A new triaging project will get £100m to “free up hospital beds”.

6) SOCIAL CARE: Social care will get a £2bn injection over the next three years.

7) EDUCATION: 100 new free schools will be opened, including a new generation of grammar schools. T-Levels will be rolled out for technical qualifications.

What does the budget mean for you? Let us know by emailing phoebe.cooke@archant.co.uk


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