This was positioned as a Budget for working people. It carried three main themes of higher wages, lower taxes and lower welfare spending.
As the first Tory Budget since 1996, it contained more dramatic attacks on welfare spending than perhaps we have been used to in recent Budget statements.
George Osborne made it very clear that the best route out of poverty is through work, and his Budget measures addressed that balance very clearly.
He delivered on the Conservative manifesto pledge of a higher inheritance tax threshold for family homes valued up to £1m, which will be funded by cutting the tax relief on pension contributions for higher earners.
Within this briefing note we have described the main Budget announcements as they relate to personal financial planning.
As with every Budget, the devil is often in the detail. As more details come to light, we will add blogs on specific planning topics to our website at informedchoice.wpengine.com.
Do call us on 01483 274566, email firstname.lastname@example.org, or follow us on Twitter @informedchoice if you would like to discuss your own investment, pension or Financial Planning as a result of the Summer Budget or any of the contents within this document.