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News

Welcome to the news section of Business Finance. Here you'll find the latest industry news and press releases.

WHAT DOES A TORY GOVERNMENT MEAN FOR YOUR MONEY?

What does a Tory government mean for your money?

After clinching a political win that no one expected, a conservative government is set to rule the country for a further five years.

Before today, a predicted coalition forced party manifestos into obscurity, but now the Conservatives have a real chance at enacting their pledges.

We’ve taken a look at what the party promised – how will a blue Britain affect you?

 

Taxes

  • Raise the personal allowance to £12,500
  • Up the 40% tax threshold to £50,000
  • No rise in VAT or NI

 

Housing market

  • Help To Buy ISAs will definitely go ahead
  • Help To Buy equity loans will be extended to 2020
  • Build 200,000 affordable homes, available at a discount to new buyers

 

Pensions

  • Triple lock on pensions
  • Roll back tax relief for those earning over £150,000 a year

 

Benefits

  • Conservatives pledged to reduce the welfare bill by a further £12bn
  • Lower household benefit cap from £26,000 to £23,000
  • Freeze benefits until April 2018
  • Job Seekers Allowance for 18 to 21-year-olds will be replaced with a Youth Allowance
  • Young people will no longer be automatically entitled to Housing Benefit
  • Pledged to fund 3 million more apprenticeships

 

Childcare

  • Pledge to double current hours of free, term-time childcare for three and four year olds to up to 30 hours a week

 

Rail

Frozen rail fares for five years