Robert Lloyd - a Sir Gar Blog of random news . . . and some Clecs!

On Wednesday 23rd November the Chancellor Philip Hammond presented his first, and last, Autumn Statement along with the Spending Review. His speech and the supporting documentation set out both tax and economic measures. The Clay Shaw Butler summary concentrates on the tax measures which include: the government reaffirming the objectives to raise the personal allowance to £12,500 and the higher rate threshold to £50,000 by the end of this Parliament reduction of the Money Purchase Annual Allowance review of ways to build on research and development tax relief tax and National Insurance advantages of salary sacrifice schemes to be removed anti-avoidance measures for the VAT Flat Rate Scheme autumn Budgets commencing in autumn 2017. In addition the Chancellor announced the following pay and welfare measures: National Living Wage to rise from £7.20 an hour to £7.50 from April 2017 Universal Credit taper rate to be cut from 65% to 63% from April 2017. In the March Bu...

Swansea Bay City Region leaders have welcomed news that the UK Government has recommitted its support for a Swansea Bay City Deal. Chancellor Philip Hammond made the announcement during his Autumn Statement to parliament earlier this afternoon (Wednesday November 23). The region’s City Deal bid, if approved, could be worth billions of pounds to Swansea Bay over the next 20 years. Focussing on the region becoming a digital superhub through major investment in digital infrastructure, the 'Internet Coast' City Deal proposals would have major benefits for Swansea, Neath Port Talbot, Carmarthenshire and Pembrokeshire. It’s estimated the approval of the City Deal would be worth £3.3bn to the south west Wales economy, helping deliver thousands of job opportunities for Swansea residents and others. Sir Terry Matthews, Chair of the Swansea Bay City Region, said: “The Chancellor’s recommitment to the Swansea Bay City Deal in today’s Autumn Statement is great news. “We are pleased to ha...