22nd November 2017
Rises in business rates to be pegged to CPI, not RPI
Dr Adam Marshall, director-general at the British Chambers of Commerce, said:
"While more remains to be done to reduce the impact of business rates on investment and growth, the chancellor's decisions will lessen the impact of rate rises on hard-pressed firms.
"Chambers campaigned hard for a reduction in the relentless rises of this iniquitous tax, and will be pleased the chancellor has listened and reduced the burden."
Stamp duty abolished for first-time buyers on homes worth up to £300,000
Charles McDowell, commercial director for mortgages at Aldermore, said:
"We are pleased to see housing top the agenda, in particular the bold measure to abolish stamp duty for first-time buyers on properties up to £300,000 and for the first £300,0000 on properties up to £500,000.
"This is very positive news for this segment of the market, who for too long have struggled with an overly complex and costly system."
VAT threshold frozen at £85,000 for 2 years
Mike Cherry, chairman at the Federation of Small Businesses, said:
"1.5 million modest-earning small firms and the self-employed will be relieved that we have seen off a VAT tax grab [to lower the VAT threshold] that would have caused huge economic damage."
Fuel duty rise for petrol and diesel cars scrapped from April 2018
Peter Williams, head of external affairs at the RAC, said:
"Beleaguered owners of diesel cars can breathe a sigh of relief that they will not be punished further by the Treasury."
An in-depth Autumn Budget report will appear on our website on Thursday 23 November 2017.