Displaying items by tag: Chancellor’s March 15 Budget

Chancellor Jeremy Hunt’s budget scrapped the lifetime allowance on tax-free pension contributions. There were other key measures: Free 30 hours per week childcare is expanded to cover children from nine months to two years old. Fuel duty is frozen for another year and government help with energy bills is extended by three months. Funding will be provided for 50,000 places on a voluntary employment scheme for disabled people, called Universal Support. Tougher requirements to look for work and increased job support for lead child carers on universal credit. More places on ‘skills boot camps’ to encourage over-50s who have left their jobs to return to the workplace. Defence spending and corporation tax will be increased. The economy is forecast to grow by 1.8% in 2024 and 2.5% in 2025 and Inflation is forecast to fall from 10.7% last year to 2.9% by the end of this year.