There are lots of news coming out of the 2018 Budget but here we have a snapshot of some of the announcements that will make the most impact to people in Dudley.
The cut in Income Tax
The Personal Allowance is being raised to £12,500 and Higher Rate Threshold to £50,000 one year early, saving a typical worker in Dudley £130. From 2010, this worker will have saved £1,205 under this Government.
Increase in the National Living Wage
This will rise by nearly 5%, from £7.83 to £8.21. For some of the lowest-paid full time workers, this will deliver a £690 pay rise per year.
NHS Cash Boost
Not only is the NHS getting £20.5 billion a year but there is also £2 billion reserved for NHS mental health services. This will help establish mental health support at Russell Hall Hospital by 2024.
Our local shops and businesses
Businesses rates will be cut by one third for two years. That will mean saving up to 90% of all shops up to £8,000 a year.
Local high streets will also benefit from the £675 million fund to improve transport links, re-develop empty shops and restore old and historic properties.
Increase in the Universal Credit Work Allowance
The work allowance - the money families can earn before losing benefits - will rise by £1,000. This is worth £630 per year to those households.
We're increasing funding for our schools
The average primary school will receive an extra £10,000 this year and the average secondary school will receive £50,000 so that they can buy the equipment that they need.
Changes to stamp duty
We are abolishing stamp duty retrospectively for first-time buyers of all shared ownership properties up to £300,000.
Fuel duty frozen again
We're freezing fuel duty for the ninth year, saving the average car driver a cumulative £1,000 since April 2010.