• Pension Tax relief is unchanged following this budget.
  • The Pension Annual Allowance is unaffected and will remain at £40,000.
  • The main ISA and Lifetime ISA allowances are unaffected, however the Junior ISA allowance will increase from £4,260 to £4,368 in April 2019.
  • Personal tax allowance threshold to be increased from £11,850 to £12,500 from April 2019 with an increase from £46,350 to £50,000 for the higher rate tax threshold.
  • Capital Gains Tax annual exemption is to increase from £11,700 to £12,000 in April 2019.
  • The ‘end of austerity‘ – The forecast for UK growth has been downgraded to 1.3% in 2018 and raised to 1.6% in 2019.
  • Fuel duty and Beer duty will be frozen, however, the cost of cigarettes and wine will increase.
  • £500 million extra funds will be put towards Brexit, with the possibility of a full Budget next Spring.
  • The NHS will receive £20 billion extra funding over the next five years, with £2 billion allocated to mental health.
  • Business rates relief for small businesses to the sum of £900 million.
  • Schools to receive extra £400 million to buy “the little extras they need”.
Budget Headlines – 2018

Last Week in the Markets

2 - 6 December 2019
Index Close Week’s Change 52 - Wk High 52 - Wk Low
FTSE
100
 7,240 -0.64% 7,727 6,537
Dow Jones
(US)

28,015

+0.35% 28,175 21,713
Nikkei
225

23,354

 -0.15% 23,608 18,949
DAX  13,167 -0.74% 13,374 10,279

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