10 things BOB learned from the Autumn Statement

written by Blog Team November 29, 2016
10 things BOB learned from the Autumn Statement

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.

  1. 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.
  2. You may spend less time in your van, as £220m is being spent on improving traffic pinch points.
  3. Phillip Hammond isn’t a big fan of the Autumn Statement. He’s announced this year’s will be the last one.
  4. 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.
  5. Great news if you rent: upfront letting agent fees are set to be banned. Not great news for estate agents…
  6. The insurance on your van could get cheaper, following crackdowns on whiplash claims.
  7. We still might not know what Brexit means, but we have at least been promised ‘fiscal headroom’ (can we have legroom too?).
  8. 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.
  9. Jane Austin lovers rejoice, £7.6m is being spent on a house in Rotherham that inspired Pemberley in Pride and Prejudice.
  10. As a van driver, you’ll save up to £350 a year, as Fuel Duty rises have been scrapped, again.

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