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Analysis: Social care given £2 billion boost

Simon Wagman is a partner at Blick Rothenberg, an accounting, tax, and advisory practice.

Simon said: "The Chancellor has announced an additional £2 billion to social care in England over the next three years to allow local authorities to plan now to provide security and dignity for all in their old age.

"Hammond has identified a significant burden on the NHS, with the elderly occupying hospital beds and the need to provide greater security for the older people in our communities.

"This further commitment provides funding for local authorities which should create capacity, freeing up space in hospitals.

"Further plans and talks of a strategic approach for how to deal with the ageing population should further assist in this area."

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Analysis: New funding for free schools

Simon Wagman is a partner at Blick Rothenberg, an accounting, tax, and advisory practice.

Simon said: "The Chancellor's announcement of funding for 110 new free schools on top of the current commitment to 500 free schools is a further indication of planning for a younger generation's future.

"As part of the government's commitment for growth and increasing employment for all, Hammond has announced a significant commitment to further increasing the number of free schools for ensuring all children have relevant schooling and education for their own needs.

"This, coupled with apprenticeships and 'T-Levels' will ensure all young people entering the workforce will be suitably skilled and with suitable experience to benefit future employers."

Tax free dividend allowance to be reduced

The tax free dividend allowance is to be reduced from £5,000 to £2,000 from April 2018, Chancellor Philip Hammond has announced.

ITV News Economics Editor Noreena Hertz said the measure "won't directly impact those on low incomes so should be pretty popular".

However ITV News presenter Tom Bradby pointed out that the change "won't be popular with businesses".

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Analysis: Chancellor tackles company director dividends

Simon Wagman is a partner at Blick Rothenberg, an accounting, tax, and advisory practice.

He said: "In order to remedy the inconsistency of director-shareholders paying themselves dividends, the Chancellor has said he will reduce the tax-free dividend allowance from £5,000 to £2,000 with effect from April 2018.

"He will however increase the ISA allowance to £20,000, to enable savers to further benefit, but not at the expense of those managing their own companies."

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