Chancellor Jeremy Hunt has unveiled the government’s tax and spending plans in his autumn statement – we explore what this means for dentistry.
Revealed today (Wednesday 22 November), Hunt announced cuts in national insurance – but warned that economic growth will be slower than first predicted.
Some of the key announcements include:
- National insurance paid by employees has been cut from 12% to 10%, taking effect from 6 January
- The economy will grow this year by 0.6%, compared to a 0.2% fall forecast in March. However in 2024, growth is only expected to be 0.7%, compared to 1.8% forecast in March
- The state pension will increase by 8.5% from April 2024 to £221.20 a week
- Welfare recipients who do not get a job within 18 months will have to do ‘work placements’
- Those who don’t look for work for a six-month period will have benefits stopped. This includes dental care and free prescriptions
- Universal credit and disability benefits will increase by 6.7%, in line with September’s inflation rate.
Capitalise on opportunities
Iain Stevenson is head of dental at Wesleyan Financial Services. He said: ‘The cut in national insurance will be welcomed by many dentists who are classified as self-employed, easing financial pressures at a time when the cost of living remains such a challenge.
‘Dental practice owners will also be happy that the 100% capital allowances on qualifying expenditure has now been extended. This will allow them to plan their investments in equipment and premises with more certainty, enabling them to broaden their range of services and capitalise on the opportunities that offering private cosmetic work can bring, for example.’
BDA chair Eddie Crouch said: ‘The Chancellor offered no hope to the millions struggling to secure care. He failed to offer a penny to a service on the brink, just pulling away care from the patients who need us most.
‘The treasury will decide whether NHS dentistry has a future, but there’s no sign this government is willing to step up.’
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