Author: UK News

Budget 2023: Raising lifetime pension allowance won’t get people back into work, says leading economist The i says The Chancellor’s plans to raise the lifetime allowance on pensions will not be “massively effective” in tempting over-50s back to work, the director of the Institute for Fiscal Studies (IFS) has said. In an interview with i, Paul Johnson said that the tax-free limit on pensions savings was a “pretty small part of the picture” when it came to people retiring early. Chancellor Jeremy Hunt is expected to announce in his Budget on Wednesday that the lifetime allowance – the maximum amount…

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Budget 2023: Jeremy Hunt to create 12 new low-tax ‘investment zones’ across UK The Independent says Jeremy Hunt is set to announce a dozen new low-tax “investment zones” across Britain at this week’s Budget in a bid to boost growth and help “level up” areas outside of London. The chancellor is expected to reveal 12 zones clustered around universities – radically scaling back a scheme introduced by the former prime minister Liz Truss which saw hundreds of councils bid against each other. The Treasury said each zone would get £80m of support over five years – including generous tax incentives…

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Seven Spring Budget 2023 predictions from fuel duty to price of booze and cigarettes – and what it means for you The Sun says JEREMY Hunt will finally reveal the government’s Spring Budget TOMORROW. At 12.30pm in the Commons chamber, the Chancellor will announce how much the price of booze and cigarettes will change. And he’ll let Brits know of any new benefits, bill support packages and tax hikes. The Treasury keeps a tight lid on policies included in the highly-anticipated budget. Revealing too many details in advance can move markets. And changes can still be made right up until…

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