The new fiscal year budget has lowered the economic growth forecast. Economic growth in the next few years may be significantly lower than previous expectations, and the economy will maintain a low growth rate for a long period of time.

The budget for the new fiscal year continues to adhere to prudent fiscal policies; strictly control expenditures, reduce deficits, reduce the proportion of debt in GDP, and set two fiscal goals:

1) In The cyclically adjusted deficit ratio will be reduced to less than 2% before the 2020-2021 fiscal year, and the ratio of net debt to GDP will also decrease during the same period.

2) The rules should guide the UK to achieve a balanced budget around 2025.

In terms of expenditure:

1) The new fiscal year budget proposes to build the UK into an innovative economy and make the UK a leader in new technologies.

2) The new fiscal year budget plans to help the younger generation realize their dream of owning their own homes;

3) The new fiscal year budget will increase support for the National Health Insurance;< /p>

Taxation:

1) The new fiscal year budget will reduce the tax burden;

2) The new fiscal year budget will take measures to promote tax fairness, among which Including allowing companies and individuals who avoid taxes through overseas channels to pay equal taxes;

3) The new fiscal year budget will enhance the sustainability of taxation;