🚨 Big news ahead for Wales! 🚨 This Wednesday, Chancellor Rachel Reeves is set to deliver a highly anticipated Budget. Wondering why it matters to folks in Wales? Let’s break it down!
Despite some areas being devolved (handled by the Welsh Government), decisions made in Westminster can still ripple through Wales. Here’s a quick preview:
– **Milkshake Tax**: The sugar tax thresholds are tightening, and milk-based drinks will no longer be exempt. Yes, this applies to Wales!
– **Two-Child Benefit Cap**: Scrapping this could majorly impact Welsh families. With high child poverty rates, many are watching closely.
– **State Pension Boost**: Good news! Expect a hefty £550+ increase next April to the state pension.
– **Income Tax Freeze**: Income tax thresholds might be frozen longer, affecting Welsh taxpayers.
– **Inheritance Tax Tweaks**: A potential cap on gifts could change estate planning in Wales.
– **EV Pay-Per-Mile**: Electric vehicle drivers could see new charges by 2028, impacting Welsh roads too.
– **Student Loan Support**: Extra support for care leavers, though it’s an England-only policy for now.
– **Semiconductors**: A budget boost specifically for Wales! A £10m investment in semiconductors promises job creation and tech growth along the M4 corridor.
While not all announcements will hit Wales directly, there’s plenty at stake. Keep an eye out for these changes and how they might affect your future. What’s your take on these potential shifts? Share your thoughts! 👇 #WalesBudget #Budget2025 #WalesEconomy