Autumn Statement 2016: Letting agency fees to be scrapped
Philip Hammond MP is expected to introduce a ban on letting agency fees to stop 4.3 million families in private rentals being hit by upfront charges running into hundreds of pounds.
He is also expected to announce a 4 per cent rise in the minimum wage for the over-25s - known as the National Living Wage - to £7.50 an hour from April 2017.
Advertisement
Hide AdAdvertisement
Hide AdIt is also likely to include a £1.4 billion injection into affordable housing to help build tens of thousands of homes.
Brexit will also be of keen interest to businesses and residents with reports suggesting that the UK’s exit from the European Union could cause a £100 billion hit to public finances over the next five years.
Universal Credit reform is also set to be a talking point as the Chancellor is set to make changes to ‘the taper rate’ for the system, which will allow low-paid workers to keep an additional 2p of every extra pound they earn.