Budget announcements are positive for the UK's economy

Mar

News

Michael Nettleton, Director of Nock Deighton, believes that the overall Budget announcements are positive for the UK's economy as a whole and will help to boost confidence amongst consumers within the region. Commenting, Mike said: The Chancellor has had some big and difficult decisions to make, but has shown considerable strength in his deliverance. His key announcement to lift two million people out of income tax by increasing the threshold to over £9,000 is hugely positive and will give people the confidence to spend in a structured and responsible way. The introduction of the new 7% stamp duty on the most expensive homes is also a positive move, highlighting the Chancellor's decision to leave those alone who need to be, while increasing taxes on those who can afford it. The big lending institutions should also be buoyed by today's announcements which will have an impact on future investment and lending.