There was little in the Autumn statement from a financial planning point of view.

The one or two points are highlighted below;

  • An extra stamp duty payment will now be made for second homes and buy-to-let properties amounting to 3.0% on top of normal rates. This should cool the housing market a little.
  • The State pension triple-lock increases are to be maintained. The Basic state pension will rise to £119.30 per week. The new Flat rate state pension which starts next year will be £155.65 per week for new pensioners.

That’s it really. We suspect the big news (pensions related) will be next year as the Government is currently reviewing the whole system of pensions taxation.

One thing that did catch our eye, were these items;

  • Minor whiplash claims can no longer result in cash payments. Forecast to reduce car insurance bills by £40 per annum on average.
  • Permanent pothole fund for road improvements

Hurrah!