Budget Breakdown - the Public Pocket

March 12, 2020

  • Increasing the National Insurance Contribution thresholds from £8,632 to £9,500, saving a typical employee around £104 a year from April.

  • Fuel duty will be frozen for the tenth consecutive year

  • A freeze in duty rates for beer, cider and spirits

  • Tampon Tax – the 5% rate of VAT on women’s sanitary products – will be scrapped from 1 January 2021

  • The National Living Wage will increase from £8.21 to £8.72

  • Ambitious target for the NLW to reach two-thirds of median earnings and to be extended to workers aged 21 and over by 2024

     

     

     

     

     

     

     

     

     

 

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