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Autumn Statement 2015 Summary

 

In his 2015 Spending Review and Autumn Statement address, the Chancellor (George Osborne) said that the government is delivering on its commitment to put economic and national security first. We break down the main highlights affecting our clients below, but here are the headline announcements:

 

Tax Credits

 

As confirmed in the Summer Budget, the Chancellor said that the £12 billion of welfare savings the government has committed to will be delivered in full, in a way that helps families during the transition to the new 'National Living Wage'. However, in a dramatic u-turn, the Chancellor went on to say that after listening to recent representations made concerning controversial cuts to tax credits, improvements in public finances mean that the proposed changes will not be phased in as planned but 'avoided altogether'. 

 

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02392 240040
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