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Osborne promises July Budget for ‘working people’

Chancellor George Osborne is set to deliver his second Budget of the year on 8 July following the recent Conservative election victory.

Writing in The Sun earlier this month, Osborne pledged that the package of measures announced in the Budget would represent a “Budget for working people”.

The Treasury is yet to spell out how it will cut £10bn from the UK’s welfare bill out of the total £12bn that has been earmarked for cost savings.

Osborne said: “On 8 July, I am going to take the unusual step of having a second Budget of the year – because I don’t want to wait to turn the promises we made in the election into a reality… And I can tell you it will be a Budget for working people.”

In his last Budget, Osborne pledged to launch a Help to Buy Isa in order to help first-time buyers save for a deposit.

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.

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