Despite the lack of direct announcements for the sector, a boost in childcare support could positively impact mortgage affordability for some families
Chancellor Jeremy Hunt delivered his Spring Budget speech to the House of Commons today and tackling the broken housing market was notably absent from his measures.
The main announcements were:
- Scrapping the lifetime allowance on tax-free pension contributions, and an increase in the annual allowance for pensions savings to £60,000 from £40,000.
- Fuel duty frozen for another year
- Extension of the current system of 30 free hours of childcare per week, initially to children under three and then to all children over nine months from 2025
- £11bn increase in defence spending
- Government help with energy bills extended for another three months
- Corporation tax increase from 19% to 25%.