The Government has released its Spring Budget setting out its economic plans. We’ve created a bite-size list to give disabled people the highlights.
Please note, that we know the budget can cause anxiety for some, particularly as benefits and financial support were mentioned, so we’re providing you with these highlights from reputable news sources only. You can find the original source links in the article.
Spring Budget 2024 highlights for disabled people:
- Families will continue to receive support from local councils via food banks, warm spaces and food vouchers, now the Household Support Fund has been extended by 6 months
- If you’ve taken out an emergency loan through your universal credit, the loan repayment period has increased from 12 months to 24 months and the £90 charge has been abolished
- If you’re employed you will see an average of £450 extra a year from 6th April when national insurance is cut by 2p
The Chancellor said: “So having listened carefully to representations from Citizens Advice, I today relieve pressure on around 40,000 families every year by abolishing the £90 charge completely.”
National insurance has been cut by a further 2p, so workers will pay 8% of their earnings between £12,570 and £50,270, instead of the 12% it was before autumn.
But tax thresholds – the amount you are allowed to earn before you start paying tax (and national insurance) and before you start paying the higher rate of tax – will remain frozen.
This means people end up paying more tax than they otherwise would when their pay rises with inflation, but the thresholds don’t keep up
Other headlines from the Spring Budget 2024:
Child benefit charge threshold raised from £50,000 to £60,000.
The High Income Child Benefit Charge (HICBC), introduced in January 2013, is a tax charge that applies to anyone with an income over £50,000 who receives Child Benefit, or whose partner gets it.
£105m over the next four years to build 50 special free schools.
The Treasury said the move will create more than 2,000 additional places for children with special educational needs and disabilities (SEND) across England.
Nearly £6bn for the NHS, including £3.4bn for “outdated” IT systems.
The NHS digital transformation, to help fund productivity growth by 2030, includes expanding the use of AI for quicker cancer diagnosis and an improved NHS app to allow patients to confirm and modify appointments.
Fuel duty to remain at the current rate, temporary 5p cut on fuel duty extended for 12 months.
The fuel duty cut will remain in place for another year in a move that will cost the Treasury around £5 billion.
The Budget 2023 highlights have been sourced via BBC and Sky News. For the full Budget statement visit https://www.bbc.co.uk/news/live/uk-politics-68465603
Useful link: How to navigate benefits and work
