What you want from the Autumn Statement

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Autumn Statement 2016

MoneyPlus Features Team

23rd November 2016 at 12:06pm

We asked you for your thoughts on the Autumn Statement and what you’d like the Chancellor to cover in his November announcement.

Thanks to all those who took part in our poll.  Here’s what you had to say.

Should the Government make more changes to pensions?

No 64%

Yes 36%

That’s a clear majority who don’t want more pension changes.

Should we just have one Budget each year and do away with the Autumn Statement?

No 36%

Yes 64%

Again, a clear majority – and the same number of people – prefer things as they are. A typical response: “Autumn Statement is useful because it provides an indication of what the Government of the day is planning.”

What you think about most

When it comes to the kind of issues that could affect you and your finances, it’s clear there are common themes which many of you who took part in our poll are either very interested in, or would like the Chancellor to address.

% of poll replies

24%       Pensions, allowances and tax

18%        The economy, excluding Brexit

14%        Financial regulation, including the State Pension

10%        Stealth taxes, including stamp duty and VAT

9%          Pensions, including the triple lock and income in retirement

Other issues front of mind for many are general taxation and, unsurprisingly, Brexit.

There was positive feedback on pension freedoms, with one respondent saying: “No changes. Too many changes make it hard to keep up to date. Pension freedoms have been a positive move though.”

Taxes were more of a vexing issue for some, with concerns over taxes on pensions, inheritance tax and the complexity of the tax system. “Reduce income tax 1p in the pound” is just one of the many comments around taxes.

We look forward to what the Chancellor has to say and we’ll cover what it could mean for your finances in MoneyPlus.

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