• The personal allowance, the amount you can earn before paying income tax, will increase to 11,500 in April 2017 from its current rate of 11,000.

  • It will then go up to 12,500 by the end of this parliament.

  • The higher rate tax threshold, where you start paying the 40% rate of income tax, will go up to 50,000 by the end of this parliament, it is currently 43,001.

  • National insurance thresholds will be made the same for employers and employees in April 2017, meaning both will start paying National Insurance contributions on weekly earning over 157.

Work & pay

  • The National Living Wage will go up from 7.20 an hour to 7.50 an hour from April 2017 for workers over 24 years old

  • It will go up from 6.95 to 7.05 per hour for 21 to 24 year olds

  • It will go up from 5.55 to 5.60 per hour for 18 to 20 year olds

  • It will go up from 4.00 to 4.05 per hour for 16 to 17 year olds

  • It will go up from 3.40 to 3.50 per hour for apprentices

  • Salary sacrifice benefits will be taxed from April 2017. Pensions, childcare, ultra low emission cars and the Cycle to Work scheme are excluded and will continue to be tax free.


  • A new market leading three year savings bond will be made available to anyone over 16 through NS&I in April 2017

  • The three year bond will offer an interest rate around 2.2% and allow savers to invest between 100 and 3,000


  • The triple lock pension guarantee is here to stay for the rest of this parliament

  • A new ban on pensions cold calling will be introduced with strong penalties for offenders


  • Letting agents fees will be banned in England

  • 1.4bn will be spent building 40,000 new affordable homes across England

  • A large scale regional pilot of the Right to Buy scheme for housing association tenants will be trialled next year


  • The rate benefits are withdrawn will be cut to 63p for every 1 claimants earn above their Work Allowance. The rate is dropping 2p from the current rate of 65p.

Best of the rest

  • 1bn will be spent on digital infrastructure and to develop fibre and 5G networks - this will massively speed up your internet connection and make sure it can cope with streaming as well as managing gadgets at home (like your fridge or heating)

  • There will be a crackdown on false whiplash claims to try and cut the cost of car insurance by on average 40 a year

  • Fuel duty frozen for the seventh year in a row

  • Insurance premium tax will go up from 10% to 12% in June 2017, this could add an extra 51 to the average household's insurance bill

  • An extra 500m in funding for the Ministry of Justice to hire 2,500 more prison officers

  • The autumn statement has been abolished and replaced with an autumn budget and a spring statement