Tax

  • 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.

Savings

  • 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

Pensions

  • 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

Property

  • 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

Benefits

  • The rate benefits are withdrawn will be cut to 63p for every 1 claimants earn above their Work Allowance.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