View our 2019 Spring Statement summary

14 Mar 2019

Chancellor Philip Hammond delivered the 2019 Spring Statement yesterday, responding to the latest economic forecasts published by the Office for Budget Responsibility (OBR).

The OBR revised down its previous UK growth forecast from 1.6% to 1.2%. Borrowing has also been revised down from £25.5 billion to £22.8 billion as a result of rising wages and a 'strong employment market'.

Mr Hammond outlined a handful of measures in the Spring Statement, such as the bringing forward of the £700 million reforms for business apprenticeships, and appointing an expert to review the latest international evidence on the impact of minimum wages, in order to inform future National Living Wage (NLW) policy after 2020.

The Chancellor also announced consultations and publications on possible future changes. These include restricting the Employment Allowance to businesses with an employer national insurance contributions (NICs) bill below £100,000, and reducing the capital gains tax (CGT) private residence relief on the final period exemption from 18 months to nine months.

For a detailed overview of the latest information, read our 2019 Spring Statement summary.

Client Testimonials

We at PORT Accountants in North Wales pride ourselves on our excellent level of service and advice. Here are just a few of PORT Accountants’ reviews and testimonials from our happy customers:

Home | Contact us | Accessibility | Disclaimer | Help | Site map |
© 2019 Parker O'Regan Tann & Co. All rights reserved.
Parker O'Regan Tann & Co, Bangor Business Centre, 2 Farrar Road, Bangor LL57 1LJ
Parker O'Regan Tann & Co, 17 Wynnstay Rd, Colwyn Bay, Conwy LL29 8NB

We use cookies on this website, you can find more information about cookies here.

Registered as auditors and requlated for a range of investment business activities in the United Kingdom by the Association of Chartered Certified Accountants