Budget

Budget

Am I still forking out for single mothers & people with families?

At least when we are bombing places I get see the best bits on News24 & SkyNews, paying for other peoples kids is fooking well off.

THE HIGHLIGHTS

Taxation


Stamp duty thresholds doubled to £120,000

Inheritance tax currently starts being paid on estates worth £260,000 - that will rise to £275,000 this year, £285,000 next year and then to £300,000

Income tax and national insurance to remain unchanged

Petrol duty inflation rise postponed until 1 September due to high oil prices

Mr Brown said he would freeze: corporation tax, capital gains tax, air passenger tax, insurance premium tax, climate change levy, aggregates levy and company car levy


Tax breaks on ISAs extended until 2010

Personal income tax allowance to be raised in line with inflation

The 100% VAT refund for renovations to religious buildings to be extended by three years.
Alcohol and cigarettes


Duty up 1p on a pint of beer and 4p on a bottle of wine, but frozen on cider, sparkling wine and spirits.

Tax on a packet of cigarettes to rise 7p.
Pensioners



Pensioners to get a council tax refund of £200

Free local bus travel for every pensioner from next year

Pension credit to rise by 13% by 2008, in line with earnings.

Economic forecasts



Mr Brown hailed the "longest period of economic growth since records began in 1701" in Britain.

Inflation was now 1.6% and was expected to be 1.75% this year and 2% in 2006 and beyond

Growth for 2004 was 3.1%, as forecast, and Mr Brown predicted the economy would grow by 3% to 3.5% this year and 2.5% to 3% next year.

Inflation was the lowest for 30 years, interest rates the lowest for 35 years and employment the highest ever, said Mr Brown

Borrowing was forecast at £34bn for 2004/5, £32bn for 2005/6 and £29bn for 2006/7.

Employment



There will be new rules to encourage incapacity benefit claimants into work and changes to housing benefit to help create jobs.

From next month, there will be £2,000 return to work bonuses available to single parents

Mr Brown pledged new centres for people to get vocational training

He announced £65m to be spent in the coming year on employer training pilots

Mr Brown said new plans to target young people at risk of causing crime would be unveiled.

Children



Child tax credit to rise by 13%, in line with earnings, over next three years

Child benefit to rise to a maximum of £63 a week for the first child and £111 for two children

Help promised for early learning in every area for all children who need it

Refund VAT incurred by local councils on children's centres

Re-building programme for primary schools increased by £650m by 2010.

Five-year, £1.5bn programme to renovate and renew further education colleges

Investment in the three-year programme for IT capital in schools will be raised to £1.67 billion.
Efficiency programmes



The first 7,800 civil servants to be moved out of London had now moved to other parts of the UK

Mr Brown said the first £2bn of savings from the Gershon review of government departments had been made.

Thirty-five government agencies will be combined into just five - with changes in consumer and trading standards regulators and food inspectorates.

Mr Brown said he would adopt the Better Regulation Task Force's call for targets for cutting red tape in every department year by year.

Euro



The chancellor said there would be no further assessment of whether the UK should adopt the euro in this Budget.

Defence


Extra £400m set aside for defence

Troops injured in the line of duty will not have compensation payments taxed if they remain in the armed forces.

Volunteering


New national community service for young people to be created with up to £150m to recruit one million young volunteers.
Overseas aid


Mr Brown said International Development Secretary Hilary Benn would announce he plans to sign new debt reduction deals with 19 of the world's poorest countries by July.

Re: THE HIGHLIGHTS

When does this start as we're moving house soon?

Damn right! VOTE CONSERVATIVE. They did a much better job of fucking things up....

Let the Libdems have a go - they can't do much worse, tho I'm not sure if Kennedy is up to it

It made great tv I love watching war live & you got a Moore book/Dvd out of it!!!!!

i just wish the tories could find a stronger leader... they'd kick those single mothers into touch

Go get me one

its all aboot dillon and britney..

i just think it's a bit shit that they use the budget as a 'vote winning' tool for getting them re-elected - rather than tackling proper issues that the budget could be used for.



although, for once, the hike on tabs doesn't bother me!

Why 4p rise on a bottle of wine?? Cause the poor drink sparkling, and the rich red?:spangled:

All a load of bollocks like normal!

Re: Re: THE HIGHLIGHTS

Midnight tonight

Down with Capitalism! :angry:

i heard VAT was up from 17.5 to 25%??????...if this is true,the customers in the garage wont be happy,they dont even like t o pay 0.01%

fuckin goooons.....im not stopping my weekend non taxable income now,gotta make up 4 what al be lossing out on

twats:fuming:

Re: Re: Re: THE HIGHLIGHTS

Cheers Might sell this place quicker

UK rate of VAT has always (to my knowledge and certainly in the recent years of my life) been 17.5% so I doubt it will be going up to 25%, thats a huge increase.

Kennedy's alternative budget is MUCH better than that one. No student fees for a start!

That may be true but this has made my decision up to definetly buy new property this year. It will save me around a grand.

So it that respect it's hardly pointless.