|GBNews|

The UK Chancellor has introduced a budget featuring a £100 payment for individuals in council tax bands A to D and an extension of the VAT removal on electricity bills. Additionally, the government announced tax relief for entrepreneurs and business rates exemptions for 70,000 retail, hospitality, and leisure businesses.

Entrepreneurs will receive a tax cut to help support business growth. The government plans to remove levies on energy bills to de-link renewables from gas prices. Pensioners on the basic state pension will be exempted from paying tax.

Transcript
“Well, look, I mean, as the Chancellor said, this is a budget to give people some breathing space, but also to help build resilience over the long term, to build hope for the long term. And I think we've seen that. So you heard, obviously, that £100. There was also an extension of the removal of VAT on electricity bills, so that's another 50 quid. So everyone in a property bands A to D, among your viewers, should be £150 better off because of that. We also saw further help for the high street, with 70,000 businesses, retail, hospitality, leisure businesses being taken completely out of business rates, and other businesses of that type being frozen. And we also saw, and this kind of slightly spiked Kemi Badenoch's guns, you could see her trying to frantically rewrite her speech, a tax cut for entrepreneurs that will really help turbocharge those who are trying to set up businesses, take big bets to get the economy growing. So I think it was absolutely a budget to help people today, and we saw lots of other measures. You know, I was scribbling frantically everything from more help for pensioners to make sure that those on basic state pension don't pay any tax, help for carers, but also some of those longer-term fixes, be they on housing, be they also important longer-term stuff on the energy market to try to get bills down in the long term by de-linking renewables investment with... From the kind of gas prices by taking levies off bills, and there's so much more besides.”
Oct 28, 2:02 PMUnited Kingdom