The government’s decision to take us out of the Single Market will cost the average UK household over £700 a year.
The Chancellor has clobbered “white van man” with £193 increase by next year in National Insurance charges.
Liberal Democrats calculate households will be £744 pounds a year worse off. Average disposable incomes are forecast to be £29,465 a year by 2020 but they would have been £30,209 without Brexit.
Business Rate Changes could still Leave Small Firms £600 Worse Off. Philip Hammond said that no firm losing small business rate relief will see their bill increase next year by more than £50 a month. This this works out at £600 a year. Lib Dem Shadow Business Secretary Don Foster said:
“The Tories cannot look themselves in the mirror and call themselves the party of small business. They are placing greater regulation, burdens and pressure onto some of the smallest companies and yet the Treasury does not seem to care. These changes will raise hundreds of millions but will break the back of many businesses that make our High Streets unique and special.”