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Browns Last Budget At A Glance

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mark occomore

Joined: 07 Dec 2006
Posts: 9955
Location: UK

PostPosted: Wed Mar 21, 2007 9:27 pm    Post subject: Browns Last Budget At A Glance Reply with quote


# Basic rate of income tax to fall from 22p to 20p from April next year.

# Lower starter rate of 10p to go, meaning all those who pay income tax will start at 20p in the pound - meaning little difference likely to take-home pay.

# Top-rate income tax threshold will rise to 43,000 from April 2009.

# From 2009, people will not pay National Insurance on earnings above 43,000 a year - up from 34,840 for this year.

# Tax-free savings limit for ISA contributions will be increased to 7,200 from next April, of which 3,600 can be held in cash.


# Beer will rise by 1p a pint from midnight Sunday, cider by 1p a litre, wine by 5p a bottle and sparkling wine by 7p. Duty on spirits will be frozen.

# Cigarettes to rise by 11p a packet. VAT on nicotine patches and similar products to be cut from 17.5% to 5%.


# Fuel duty up 2p per litre from October, in line with inflation.

# Putting VAT on airline tickets ruled out.

# Road tax on highest-polluting vehicles up to 300 and to 400 from April next year.

# The least-polluting vehicles to have their duty cut to 35.


# Child benefit, for a first child, will rise from 17.45 a week to 20 a week by 2010.

# Some 50,000 16 to 17-year-olds who sign activity and learning agreements to receive a training wage in return for gaining skills.

# The 40-a-week in-work bonus paid to lone parents to be extended to their first 12 months in work.

# Education spending in England will rise from 60bn this year to 74bn in 2010. From now to 2010 spending per pupil rise by a further 20% - 10% cent in real terms - to 6,600

# Public investment in science will rise from 5bn this year to 6.3bn by 2010/11.

# Investment in the NHS in England to rise by 8bn this year.


# Tax exemption for capital gains will rise from 8,800 to 9,200, and will be 18,400 for married couples.

# Inheritance tax will threshold to rise from 285,000 now to 350,000 in 2010.


# Tax-free allowance for pensioners under 75 will rise in three stages from 7,280 to 9,770 in 2011. For over-75s, the tax free allowance will rise annually from 7,420 to by 10,000 by 2011.

# Grants of between 300 and 4,000 for pensioners installing insulation and central heating in their homes.

# All the 125,000 people who lost their pensions because of company insolvency will get help with a financial assistance scheme increased from 2bn to 8bn.


# Until 2012 all new zero carbon homes up to 500,000 will be exempt from stamp duty.

# The landfill tax will rise by 8 a tonne each year from April 2008.


# Corporation tax will be cut from 30p to 28p from April next year.

# Tax rate on small companies to be raised in three stages from 20p this year to 22p in 2009.


# Mr Brown said the British economy was growing faster than all the other G7 economies.

# Inflation will be on target in 2008 and 2009, according to forecasts.

# In the last year investment has grown by 6%, business investment by 7%, and inward investment by 10%. Business investment is forecast to rise again by more than 7% this year.

# In the last year employment has risen, with 220,000 more men and women in work.

# In 2008, Britain's growth will be the highest in the G7, between 2.5% and 3%.

# Britain's net borrowing, which in the early 1990s went as high as 8% of national income is this year just 2.7%. It will fall to 1.4% by 2012.


# Asset sales will rise from 18bn to 36bn, including a 6bn sale of the student loan book and further financial and corporate sales at home and overseas.

# Investment in schools, hospitals, security and defence and infrastructure will rise from 43bn this year to 60bn by 2012.

# Total government spending will rise to 674bn by 2010/11.

# An extra 400m to be allocated to the Ministry of Defence to cover overseas commitments in Iraq, Afghanistan and elsewhere.

Below inflation spending settlements for some departments: Work and Pensions; Revenue and Customs; Cabinet Office; Treasury; Department for Constitutional Affairs; Attorney General's Office.

# Efficiency savings of 3% each year to mean the government can release 26bn a year by 2010/11 for frontline services.


# 50m for a 10-country initiative across central Africa to prevent the destruction of the second largest rain forest in the world.

# 800m to the Environmental Transformation Fund, jointly run by the international development and environment secretaries.

BBC Online.

Spirts price held again.
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Joined: 27 Feb 2007
Posts: 133
Location: over the rainbow

PostPosted: Wed Mar 21, 2007 9:57 pm    Post subject: Reply with quote

Many thanks Mark. That makes a lot more sense than what I was hearing on the radio Very Happy

Cheers Very Happy

Always do sober what you said you'd do drunk. That will teach you to keep your mouth shut.
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Ella Sailyour

Joined: 11 Dec 2006
Posts: 579
Location: Marbella, Spain

PostPosted: Wed Mar 21, 2007 10:00 pm    Post subject: Reply with quote

Brown's Budget At A Glance:


There. That was even easier. Good ol' BBC, eh?

This week's $64,000 question: Why am I so gorgeous, possums?
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Joined: 07 Dec 2006
Posts: 4861
Location: Here, There, Everywhere.

PostPosted: Wed Mar 21, 2007 10:04 pm    Post subject: Reply with quote

In summary. Tax rate was cut or increased depending on how you look at it. Most people will pay more either indirectly or directly.
His name was ernie ........ and he drove the fastest milk cart in the west.....
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