The Chancellor has announced his Autumn Statement, some key points below:
- Increase in National Living Wage by 9.8% to £11.44 an hour
- Changes to National Insurance
- Increase in state pension from April 2024 by 8.5% to £221.20
- £50m of levelling up funds will be made across Wales, including in Powys, Denbighshire, Llanelli and Monmouthshire.
- £500,000 will also be invested in the Hay Festival.
- In addition, investment zones will be created in Wrexham and Flintshire to boost the areas financially and help them develop.
- This comes along with news that tax relief for free ports is being extended from five to ten years, benefitting Anglesey and Pembrokeshire.
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