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- “Because the increase in energy prices caused by the Ukraine war is
expected to last longer, so too will the sector’s windfall profits” - Reduces the higher rate of property Capital Gains tax from 28% to 24%
- Raises tobacco and vaping tax
- Extends freezes on alcohol duty and fuel duty tax
- After four years, those who continue to live in the UK will pay the same tax as other UK residents
- More healthcare funding
- is keeping the “planned growth in day to day spending at 1% in real terms.”
- new British ISA will give savers an additional £5,000 tax free allowance for UK stocks
- confirms a 2 pp cut to national insurance, from 10% to 8% for employees and 8% to 6% for the self-employed
It’s not exactly a windfall in the oil and gas sector right now but Hunt needs to pay for the Conservative hail mary attempt to stay in power.
I don’t see much here that would move the pound.
This article was written by Adam Button at www.forexlive.com.
