Last week Phillip Hammond stepped out with a list of numbers and promises in his first Autumn Statement.
But what does it actually all MEAN for tradespeople?
Here are 10 things BOB, Jewson’s monthly newsletter, learned.
- Housebuilders are set to be busy, with billions being made available for 100,000 new homes promised in high-demand areas and 40,000 extra affordable homes to boot.
- You may spend less time in your van, as £220m is being spent on improving traffic pinch points.
- Phillip Hammond isn’t a big fan of the Autumn Statement. He’s announced this year’s will be the last one.
- You might have a bit more in your pocket when the National Living Wage increases to £7.50 in April (if you’re employed). If you’re an employer, there will be an impact on your staffing costs.
- Great news if you rent: upfront letting agent fees are set to be banned. Not great news for estate agents…
- The insurance on your van could get cheaper, following crackdowns on whiplash claims.
- We still might not know what Brexit means, but we have at least been promised ‘fiscal headroom’ (can we have legroom too?).
- Your pension will still increase each year by the higher of either the rate of inflation, the increase in average earnings or 2.5%, as the ‘triple lock’ will stay until the end of this Parliament.
- Jane Austin lovers rejoice, £7.6m is being spent on a house in Rotherham that inspired Pemberley in Pride and Prejudice.
- As a van driver, you’ll save up to £350 a year, as Fuel Duty rises have been scrapped, again.