We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
This website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Continue
Secured Loans > Autumn Budget 2017: What you need you to know

Autumn Budget 2017: What you need you to know

30th November 2017 | Published by Evolution Money

When Chancellor Philip Hammond announced the first economic budget of his tenure back in March, many people were of the opinion that he was trying to steady the ship wherever possible in the aftermath of Brexit. In which case, any big changes to fiscal policy were to be postponed until later in the year.

Last week saw Hammond unveil many of those changes to the House of Commons as part of his autumn budget. While his focus on increased funding for education – particularly digital skills, computer science and maths – is certainly positive, it’s hard to mask the underlying theme of damage limitation.

For those unfamiliar with GDP targets, the UK’s official economic target is to achieve 2% growth each year. This is actually the first budget in modern record that the Chancellor has forecasted less than 2% growth in any one of the next five years. If there’s any clear signal that the British economy is failing to meet long-term productivity standards, this is it.

Image of Phillip Hammond

How will the budget impact you?

Despite the bigger picture looking slightly bleak for the country as a whole, the majority of taxpayers will find themselves keeping a few extra quid in their pocket at the end of each month. This is due to the personal allowance increase of £350 – up to £11,850 – which will come into effect in April 2018.

As for pensioners and other non-tax payers, the net increase will be lower, although they do stand to gain an extra £8 per month following the changes. This is with the exception of some married pensioners, who stand to gain as much as £57 per month. However, it’s worth bearing in mind that these increases must also be weighed up against inflation and rising prices for household goods.

As always, housing also remains one of the country’s main concerns. Chancellor Hammond addressed the issue head-on, explaining that not enough homes are being built but that there is no simple, short-term solution to the problem. Instead, long-term changes to planning regulations, construction legislation and policies at local council level are needed.

It looks like we may have a challenging few years ahead.

Category: Money
This post was written by Evolution Money
Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk

How our customers rate us

We’re proud of the high standard of our customer service and believe that each of our customers should be treated as an individual.
Evolution Money 96 out of 100, based on 178 reviews over the past year. 178 user reviews. Read our reviews

Members of the The Finance & Leasing Association

FLA logoWe are a member of the FLA (Finance and Leasing Association) and subscribe to its lending code.


Feeling social? Check out our social pages!

Tweet us on Twitter
Like us on Facebook
Add us on Google+

Our Address

Evolution Money,
9 Portland Street,
M1 3BE

Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 9 Portland Street, Manchester, M1 3BE. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

© 2022 Evolution Money | Cookies | Complaints Policy | Breaking Down Our Loans | Terms & Conditions | Fair Processing Notice | Sitemap
Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution