The Chancellor of the Exchequer Jeremy Hunt MP has just unveiled his Spring Statement.
Measures announced include:
- Extending 30 hours of childcare a week to working parents of children aged 9 months to 4 years
- Paying Universal Credit childcare costs up front rather than in arrears
- Introducing reforms to the childcare sector including changes to 2-year-old staff: child ratios from 1:4 to 1:5
- Introducing a £25 billion three-year tax cut for business investment
- Increasing the annual pension allowance to £60,000 and abolishing the Lifetime Allowance
- Establishing a new Universal Support programme for disabled people and the long-term sick
- Abolishing the Work Capability Assessment and increasing the Administrative Earning Threshold to 18 hours
- Extending the Energy Price Guarantee at £2,500 for three months
- Freezing fuel duty for a thirteenth year, saving the average driver around £200
- Delivering a Brexit Pub Guarantee so draught duty will always be less than duty in supermarkets
- Forming Levelling Up Partnerships across the South West to provide bespoke place based regeneration in areas including Torbay.
- Providing £9,390,800 to fix potholes in Devon.
View the Chancellor’s full speech here: https://parliamentlive.tv/event/index/9a2782e4-5f86-4a9d-8dcd-b6767b517c25?in=12:31:44
Read the Spring Budget in full here: https://www.gov.uk/government/publications/spring-budget-2023