The latest joint Spending Review and Autumn Statement published by the UK government on 25 November 2015, that lays out the road map of Government spending (and focus) over the next five years has. Some of the key highlights are:

  • The UK economy has been growing faster than other major economies since 2010
  • Growth for 2015 was forecast at 2.4%, followed by 2.4% in 2016, 2.5% in 2017, 2.4% in 2018 and 2.3% in 2019
  • 1 million more jobs will be created over next five years
  • Apprenticeships doubled to 2 million and provisions for 3 million more have been made.
  • Personal Allowance increased to £11,000 from 2016 instead of 2017 and will increase with minimum wage.
  • Corporation Tax will be reduced to 19% in 2017, and further, to 18% by 2020-21
  • Auto enrolment increase deadlines to be moved back 6 months to coincide with the end of the tax year
  • From September 2017, the government will extend the free childcare entitlement to 30 hours a week for working parents of three and four year olds who have an income of less than £100,000 and work more than 16 hours per week at the National Minimum Wage

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