18 / 3 / 2015 12.26pm
Chancellor George Osborne has delivered his final Budget of this Parliament.
Key announcements of interest to employers in the NHS include:
- an increase in the tax-free personal allowance from £10,600 to £10,800 in 2016/17 and £11,000 in 2017/18
- an increase in the higher rate tax threshold from £42,385 to £43,300 by 2017/18
- pension-pot lifetime allowance to be reduced from £1.25m to £1m from next year, and index linked from 2018
- cancelling of the fuel duty increase, scheduled for September 2015
- abolition of National Insurance contributions for under 21s this year, and for apprentices in April 2016
- minimum wage for apprentices to increase by 20 per cent to £3.30 per hour
- increase in mental health provisions for children and for maternal mental illness
- development of a health strategy with teaching hospitals in the north as part of plans to build a ‘northern powerhouse’
- further funds for some local air ambulance services
- VAT refunds for blood bike charities.
We will add further detail for employers as it becomes available, and the full Budget can be found on the Government’s website.