UK Budget Review 📝

Hey everyone :wave:

Yesterday Rishi Sunak announced the new budget, so I thought I’d summarise some of the highlights.

What do you think about these changes? Do they impact you? Do you think they’re reasonable?

Furlough - extended until the end of Sep
Universal Credit - £20 a week top-up
Minimum Wage - Increase to £8.91 in April

Stamp Duty Holiday - extended until 30th June
5% Mortgages - on properties up to £600K

Contactless Limit - limit will increase to £100 later this year

Tax Free Personal Allowance - increases next year to £12,750 and frozen until 2026
Corp Tax - increase to 25% from April 2023 (unless you’re a small biz)

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Can someone explain why a Stamp Duty holiday is the most important thing right now?

Is the incentive so people buy more property? I can’t imagine people purchasing property is the best way to bolster the economy :thinking: