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Your reaction to the 2017 Budget

Chancellor Philip Hammond has set out a Budget to "prepare Britain for a brighter future".

Speaking in the Commons, Mr Hammond said the Spring Budget "provides a strong and stable platform" for Brexit negotiations, and "extends opportunity to all our young people".

These people in Stockton high street have been reacting to the news:

Some of the main Budget announcements include:

  • The forecast for growth for the UK economy this year has gone up from 1.4% to 2%.
  • National Insurance contributions for the self employed are set to increase.
  • Most pubs are to be given a £1,000 discount on business rates as part of the a £435 million package to help businesses.
  • An extra £2 billion will be spent on social care in England over the next three years, including £1 billion available in 2017/18.
  • £90 million pounds will be spent on transport for the North.
  • The tax free dividend allowance is to be reduced from £5,000 to £2,000 from April 2018.
  1. National

Budget 2017: £2bn extra to be spent on social care

An extra £2 billion will be spent on social care in England over the next three years, including £1 billion available in 2017/18, Chancellor Philip Hammond has announced.

Options for social care funding to be considered in an upcoming green paper will not include a "death tax", said the Chancellor.

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Lower earners 'to benefit from tax and wage changes'

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

Simon said: "29 million people will be better off as a consequence of increasing the personal allowance and increasing the higher tax rate threshold.

"This is coupled with the increase in the national living wage."

  1. National

Analysis: Self-employed will pay more National Insurance

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

The Chancellor has said he will "reduce the gap" between people who are self-employed and those who are employed.

National Insurance contributions for the self-employed will increase from 1% to 10% in 2018, and a further 1% in 2019.

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