This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.theguardian.com/uk-news/2017/nov/22/autumn-budget-the-days-biggest-winners-and-losers

The article has changed 8 times. There is an RSS feed of changes available.

Version 0 Version 1
Autumn budget: the day's biggest winners and losers Autumn budget: the day's biggest winners and losers
(35 minutes later)
WinnersWinners
Brexit plannersBrexit planners
Hammond has set aside £3bn for Brexit preparations over the next two years in addition to the £700m already spent. The crucial details will follow in supplementary estimates. Philip Hammond has set aside £3bn for Brexit preparations over the next two years in addition to the £700m already spent. The crucial details will follow in supplementary estimates.
First-time home buyers First-time homebuyers
In the budget’s biggest giveaway, stamp duty is to be abolished for first-time buyers on properties up to £300,000. This represents a cut for 80% of first-time buyers. And those spending between £300,000 and £500,000 on their first home will save £5,000 in stamp duty. The controversial help-to-buy scheme is also to be extended despite widespread concern that it contributes to ballooning house prices. The budget confirmed that an extra £10bn will go into the scheme to extend it to 2021, a measure previously announced in October.In the budget’s biggest giveaway, stamp duty is to be abolished for first-time buyers on properties up to £300,000. This represents a cut for 80% of first-time buyers. And those spending between £300,000 and £500,000 on their first home will save £5,000 in stamp duty. The controversial help-to-buy scheme is also to be extended despite widespread concern that it contributes to ballooning house prices. The budget confirmed that an extra £10bn will go into the scheme to extend it to 2021, a measure previously announced in October.
Young rail commutersYoung rail commuters
As trailed, the young persons railcard, currently available to under 27s, is to be extended. The “millennial card” will extend the 30% discount to those under 31. Further details will be announced after negotiations with the rail companies. The young persons railcard, currently available to under-27s, is to be extended. The “millennial card” will extend the 30% discount to those under 31. Further details will be announced after negotiations with rail companies.
LandlordsLandlords
In a measure designed to please both Generation Rent and Tory-voting landlords, Hammond signalled that the government would explore tax breaks for landlords who offer longer term secure tenancies. In a measure designed to please both Generation Rent and Tory-voting landlords, Hammond signalled that the government would explore tax breaks for landlords who offer longer-term secure tenancies.
Andy Street and other directly elected mayorsAndy Street and other directly elected mayors
The Tory mayor for the West Midlands will get a £250m chunk of a new £1.7bn transforming cities fund. Street, who was elected in May in a Labour heartland, said he was delighted at confirmation of the deal.The Tory mayor for the West Midlands will get a £250m chunk of a new £1.7bn transforming cities fund. Street, who was elected in May in a Labour heartland, said he was delighted at confirmation of the deal.
Most drinkersMost drinkers
The chancellor caved in to lobbying from the Scottish Whisky Association to scrap a planned 3.9% tax increase on whisky. Duty rates on beer, cider, wine and other spirits will be also be frozen. White cider drinkers were not so fortunate, however. Mindful of their cheap price and high alcohol content, Hammond ordered a rise in duty for drinkers of K. “Merry Christmas!” he said as he announced the move, in a nod to Scrooge.The chancellor caved in to lobbying from the Scottish Whisky Association to scrap a planned 3.9% tax increase on whisky. Duty rates on beer, cider, wine and other spirits will be also be frozen. White cider drinkers were not so fortunate, however. Mindful of their cheap price and high alcohol content, Hammond ordered a rise in duty for drinkers of K. “Merry Christmas!” he said as he announced the move, in a nod to Scrooge.
Maths teachersMaths teachers
Hammond joked that he wanted “more maths for everyone”. But he put some serious money behind it, pledging £27m to improve maths teaching in 3,000 schools. As part of the plan, schools get an extra £600 for every additional pupil who takes A-level or Core maths. Hammond joked that he wanted “more maths for everyone”. But he put some serious money behind it, pledging £27m to improve teaching of the subject in 3,000 schools. As part of the plan, schools get an extra £600 for every additional pupil who takes A-level or Core maths.
Tax avoidersTax avoiders
The budget disappointed fair-tax campaigners by only announcing minor reforms to tackle tax avoidance. These included applying income tax to digital companies’ royalties relating to UK sales, designed to raise £200m. Will Snell, director of Tax Justice UK, said the budget wasted an opportunity to capitalise on public anger in the wake of the Paradise Papers revelations. The budget disappointed fair tax campaigners by announcing only minor reforms to tackle avoidance. These included applying income tax to digital companies’ royalties relating to UK sales, designed to raise £200m. Will Snell, director of Tax Justice UK, said the budget wasted an opportunity to capitalise on public anger after the Paradise Papers revelations.
Survivors of the Grenfell Tower fireSurvivors of the Grenfell Tower fire
Kensington and Chelsea council will get an extra £28m for mental health services, regeneration support for the surrounding areas and a new community space for the Grenfell United group. Hammond said: “Following the tragedy at Grenfell Tower, the government is determined to ensure that those affected receive the support they need.”Kensington and Chelsea council will get an extra £28m for mental health services, regeneration support for the surrounding areas and a new community space for the Grenfell United group. Hammond said: “Following the tragedy at Grenfell Tower, the government is determined to ensure that those affected receive the support they need.”
LosersLosers
House buildersHouse builders
Shares in house building companies fell after Hammond failed to announce the ambitious housing programme the markets had anticipated. Hammond said he planned to commit £44bn in capital funding, loans and guarantees to support the UK housing market. He claimed this would help deliver 300,000 new homes a year. And small building firms would get a share of £1.5bn to build new homes. But planning reform was punted into the long grass again. Hammond announced a review by Oliver Letwin on how to close the gap between planning permissions being granted and houses being built. Shares in house-building companies fell after Hammond failed to announce the ambitious programme the markets had anticipated. The chancellor said he planned to commit £44bn in capital funding, loans and guarantees to support the UK housing market. He claimed this would help deliver 300,000 new homes a year. And small building firms would get a share of £1.5bn for new homes. But planning reform was punted into the long grass again. Hammond announced a review by Oliver Letwin on how to close the gap between planning permissions being granted and houses being built.
Universal credit claimantsUniversal credit claimants
Those hoping for a pause to the rollout of the chaotic implementation of universal credit will be disappointed. But claimants were thrown a bone in the form of a £1.5bn package to help “address concerns about the operation of the system”. From January, those who need it will be able to access up to a month’s worth of universal credit within five days via an interest-free advance. And to ease problems with rent arrears, from April those on housing benefit will continue to receive payments for the first two weeks of universal credit claims. Those hoping for a pause to the chaotic rollout of universal credit will be disappointed. But claimants were thrown a bone in the form of a £1.5bn package to help “address concerns about the operation of the system”. From January, those who need it will be able to access up to a month’s worth of universal credit within five days via an interest-free advance. And to ease problems with rent arrears, from April those on housing benefit will continue to receive payments for the first two weeks of universal credit claims.
Diesel car driversDiesel car drivers
Diesel drivers had been warned. People were once encourage to buy diesel cars, but David King, the former chief scientific adviser, admitted it was wrong to cut duty on diesel vehicles after being hoodwinked by the car industry. So it was no surprise that Hammond raised excise duty on diesel vehicles. From next April, diesel vehicles that don’t meet the latest standards will go up by one tax band. Hammond said the money raised would fund a £220m clean air fund. But fuel duty for both petrol and diesel cars will be frozen. Diesel drivers had been warned. People were once encouraged to buy diesel cars, but David King, the former chief scientific adviser, admitted it was wrong to cut duty on diesel vehicles after being hoodwinked by the car industry. So it was no surprise that Hammond raised excise duty on diesel vehicles. From next April, diesel vehicles that do not meet the latest standards will go up by one tax band. The chancellor said the money raised would fund a £220m clean air fund. But fuel duty for both petrol and diesel cars will be frozen.
Lewis Hamilton and other private jet ownersLewis Hamilton and other private jet owners
Following the disclosure in the Paradise Papers that the F1 champion managed to avoid paying taxes on a private jet, Hammond announced that air passenger duty on those travelling by private jet would increase by £47. “Sorry Lewis,” Hammond said as he announced the plan. But he did nothing to end the Isle of Man scheme that helped Hamilton avoid tax, which is currently subject to a review by HM Revenue and Customs. After the disclosure in the Paradise Papers that the F1 champion managed to avoid paying taxes on a private jet, Hammond announced that air passenger duty on those travelling by private jet would increase by £47. “Sorry, Lewis,” Hammond said as he announced the plan. But he did nothing to end the Isle of Man scheme that helped Hamilton avoid tax, which is subject to a review by HM Revenue and Customs.
SmokersSmokers
Smokers are always an easy target for chancellors. This time those rolling their own fags will be clobbered hardest. From 6pm on budget day rates on all tobacco products will increase by 2% above inflation until the end of this parliament. Hand-rolling tobacco will increase by an additional 1%. Smokers are always an easy target for chancellors. This time those rolling their own fags will be clobbered hardest. From 6pm on budget day, rates on all tobacco products will increase by 2% above inflation until the end of this parliament. Hand-rolling tobacco will increase by an additional 1%.