Budget 2020 | What You Need To Know

Today the Chancellor Rishi Sunak’s first Budget came as attention and concern is focussed on Coronavirus, but what does it mean for your financial health?

This was quite a jam-packed budget, with significant announcements on benefits, tax and the wider economy. With the political agenda over the past year being dominated by Brexit, there were hopes that today’s budget would be an opportunity for the government to set out its plans and vision for the future of the UK now that Brexit ‘is done’, however the sudden emergence of Coronavirus has meant that the Budget’s focus shifted to dealing with disruptions and concerns that come with it.

In Sunak’s first budget speech, he warned of a “significant” but temporary disruption to the UK economy but vowed: “We will get through this together” and announced the following measures…

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If you have question on any of the announcements made, contact our Tax specialist, Neill Staff at neill.staff@raffingers.co.uk.