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Email The Chancellor of the Exchequer’s first Budget of the new Parliament, delivered on 8 July 2015, will be remembered as a reforming Conservative budget, including significant changes to the United Kingdom’s welfare provisions such as limiting the availability of personal working tax credits and introducing the new National Living Wage. https://www.cadwalader.com/resources/clients-friends-memos/uk-summer-budget-2015-key-tax-measures