Now that the dust has started to settle, what do the recent announcements, and U-turns, mean for you and your finances?

What is still happening

The National Insurance contribution rate will fall from 6 November 2022.

In April 2022, the National Insurance contribution (NIC) rate increased by 1.25 percentage points to pay for additional health and social care services. In April 2023, a new Health and Social Care Levy was set to replace this rise.

In the Growth Plan in September, it was announced that this rise would be reversed from 6 Nove...

A large part of being a parent is making our children’s lives easier which often comes in the form of committing financial support to those adult children. But before writing a cheque or making a deposit to your children’s bank, ask yourself these four key questions:

1. What, specifically, is this money for?

The key word here is SPECIFICALLY.

Many parents tend to err on the side of protecting their child’s feelings when weighing financial support. We know asking for money can be embarrassing, and we don’t want to deepen that embarrassment...

At 6.00 am on Monday 17 October, the Treasury issued a press release announcing that the (new) Chancellor, Jeremy Hunt, would making a statement “bringing forward measures from the Medium-Term Fiscal Plan”. The timing of the press release suggested that the Treasury was concerned it had not done enough the previous Friday to calm markets ahead of the end of Bank of England gilt purchase support.

The Chancellor’s statement was in two parts: firstly, a pre-emptive media statement in the morning, then an official statement to the House of Comm...