Personal Taxation & Wages
Personal taxation and wages
- Tax-free personal allowance on income tax to rise to Â£11,850 in April 2018
- Higher-rate tax threshold to increase to Â£46,350
- Short-haul air passenger duty rates and long-haul economy rates to be frozen, paid for by an increase on premium-class tickets and on private jets
- National Living Wage to rise in April 2018 by 4.4%, from Â£7.50 an hour to Â£7.83.
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Pensions, savings and welfare
- Â£1.5bn package to "address concerns" about the delivery of universal credit
- Seven-day initial waiting period for processing of claims to be scrapped
- Claimants to get one month's payment within five days of applying
- Repayment period for advances to increase from six to 12 months.