Budget 2018: Personal allowance increased to £12.5k

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Responding to the Budget statement by the Chancellor Philip Hammond, NFU president Minette Batters said: "As we move ever closer to leaving the European Union, farmers and growers are still seeking assurances and clarity about the environment they will be operating in".

However, the OBR's forecast is based on a smooth and orderly Brexit. "The scale would be very hard to predict, given the lack of precedent".

Online tech giants are set to be slapped with a new "digital services" tax amid measures aimed at helping the high street.

A commentary in the Spectator magazine Tuesday said that by Conservative standards, Hammond's budget was a spending spree.

The Scottish Tories say the Scottish block grant will rise £381 million, or 1.25%, in real terms next year, giving Mr Mackay ample scope to cut income tax.

He insisted he was not "abandoning fiscal rectitude", and said the deficit will decline in every year of the forecast period.

But Labour leader Jeremy Corbyn labelled Mr Hammond's statement as a "broken promise Budget".

He told Today: "We retain an ambition to balance the budget".

Day-to-day public spending on the NHS is planned to rise by eight per cent between now and 2023-24.

"All of the spending commitments that the Chancellor will set out today are funded irrespective of a deal", said the PM's spokesman.

The personal allowance and the higher rate threshold will rise from April in a move the Chancellor said would mean "a tax cut for 32 million people".

Mr Bradley said: "I had two main asks of government to support Mansfield and I am pleased that the Chancellor has listened to us on both counts".

Mr Johnson said there would be "millions of losers" from the introduction of Universal Credit, despite an injection of around £2bn per year to ease the transition to the controversial new benefit.

The chancellor previously allocated £1.5 billion for 2019/20 in last year's Budget.

Analysis by the global ratings agency (which provides "credit ratings" for governments), said that the risk of no-deal Brexit is increasing. Higher-rate earners will take home an extra £860 a year.

In response to the security threats facing the UK, Mr Hammond promised an extra £1 billion to the Ministry of Defence and £160 million to fund counter-terrorism policing.

A new "centre of best practice" will be established within the Department of Health and Social Care (DHSC) to "improve the management of existing PFI contracts", according to the Budget document.

A £420 million fund will help local highway authorities fix potholes and carry out other maintenance tasks.

It comes after the use of PFI and PF2 contracts to fund construction of hospitals and schools, for example, has declined significantly and come under criticism.

Introducing the 2018 UK Budget, the chancellor declared the era of austerity, which began in 2010, was "finally coming to an end" and announced a £20.5 billion cash injection for the NHS over the next five years, of which £2 billion has been earmarked for mental health treatment. A standstill non-event. "It was a sticking plaster Budget, when major surgery lies ahead".