Our guide to the 2021 Autumn Budget Statement provides a clear and concise commentary of Rishi Sunak’s announcements, focusing on the issues pertinent to our clients, their families and their businesses.
Whilst there were no major changes to Pension legislation, Inheritance Tax or Capital Gains Tax, the Chancellor did make sweeping changes to the Governments spending plans.
At the heart of these plans is the government’s ambition to level up, reducing regional inequality so that no matter where in the UK someone lives, they can reach their full potential, find rewarding work and take pride in their local area. The optics of the Autumn Budget were that taxpayers’ money will be spent where it makes the most difference to people’s daily lives: creating high-wage and high-skilled jobs, reducing NHS waiting lists, putting more police on the streets, upgrading roads and railways, and building new homes, hospitals and schools. The pandemic has demonstrated the risk of unforeseen shocks and there remains uncertainty around the path of the virus. The Chancellor admitted the months ahead will be ‘challenging’. He said: ‘The Budget does not draw a line under COVID’ but he declared it will pave the way for a ‘new economy post-COVID’.
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