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British Chancellor of the Exchequer Philip Hammond is now delivering his annual budget speech to the Parliament with key quotes, via Reuters, found below.

  • Will offer extra measures to smooth implementation of universal credit worth 1 billion sterling over 5 years.
  • Universal credit work allowances will be increased by 1,000 pounds a year at cost of 1.7 billion sterling a year.
  • National living wage will rise by 4.9% in April 2019.
  • Will freeze short-haul air passenger duty, increase other air passenger duty in line with inflation.