The recent Budget contained positive funding news for a range of charities, both household names and local grassroots voluntary organisations, according to an article published by Standard Life. Military charities and women’s charities were once again sectors to benefit and preventing homelessness was singled out as an area to receive a considerable injection of funding, including a boost for Rough Sleeping Social Impact Bonds.
A third of people aged over 50 who are employed in the private sector are now planning to retire later than they previously hoped, Aviva’s latest Working Lives report reveals.
The Chancellor will need to reduce borrowing by £32bn in 2019-20 – the biggest ever annual cash consolidation – in order to meet his Budget surplus target by the end of parliament, according to a new post-Budget briefing report published by the Resolution Foundation.
As far as the savings market was concerned, 2015 was the year of the challenger provider. Competition between them ramped up and average rates followed suit, and in turn, positivity started to make a welcome return to the market. However, this improvement was short-lived, as the latest Moneyfacts research, reporting in March 2016, shows a stark reversal of fortune.
Before the March 2016 Budget there had been much speculation that the Chancellor was planning big changes to the tax relief on pensions. However, just before the Budget, the Treasury scotched rumours of such changes and subsequently there were no changes to pension savings tax relief in the forecast Budget.
Chancellors presenting their Budgets often attempt to redistribute wealth from one group in society to another, stated a recent post-Budget AccountancyAge article, suggesting that this was the implicit rationale behind many of the corporate tax measures announced in the March 2016 Budget.