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| Version 3 | Version 4 |
|---|---|
| Budget 2013 at a glance: George Osborne's key points | Budget 2013 at a glance: George Osborne's key points |
| (35 minutes later) | |
| The key points of Chancellor George Osborne's Budget. | The key points of Chancellor George Osborne's Budget. |
| September's 3p fuel duty rise scrapped | September's 3p fuel duty rise scrapped |
| April's 3p rise in beer duty scrapped. Instead, beer duty to be cut by 1p | April's 3p rise in beer duty scrapped. Instead, beer duty to be cut by 1p |
| Annual inflation +2% rise in beer duty to be ended but "duty escalator" to remain in place for wine, cider and spirits | Annual inflation +2% rise in beer duty to be ended but "duty escalator" to remain in place for wine, cider and spirits |
| Cigarette duties unchanged - continuing to rise by inflation +2% | |
| Limit at which people start paying tax to be raised to £10,000 in 2014 - a year earlier than planned | Limit at which people start paying tax to be raised to £10,000 in 2014 - a year earlier than planned |
| Shared equity schemes extended, with interest-free loans for homebuyers up to 20% of value of new-build properties | Shared equity schemes extended, with interest-free loans for homebuyers up to 20% of value of new-build properties |
| Bank guarantees to underpin £130bn of new mortgage lending for three years from 2014 | Bank guarantees to underpin £130bn of new mortgage lending for three years from 2014 |
| Growth forecast for 2013 halved to 0.6% from 1.2% in December | Growth forecast for 2013 halved to 0.6% from 1.2% in December |
| Office for Budget Responsibility watchdog predicts UK will escape recession this year | Office for Budget Responsibility watchdog predicts UK will escape recession this year |
| Growth predicted to be 1.8% in 2014; 2.3% in 2015; 2.7% in 2016 and 2.8% in 2017. | Growth predicted to be 1.8% in 2014; 2.3% in 2015; 2.7% in 2016 and 2.8% in 2017. |
| OBR forecasts borrowing of £121bn, the same as last year | |
| Borrowing set to fall to £108bn, £97bn and £87bn, £61bn and £42bn in subsequent years | Borrowing set to fall to £108bn, £97bn and £87bn, £61bn and £42bn in subsequent years |
| Borrowing as share of GDP to fall from 7.4% in 2013-14 to 5% in 2015-16 | Borrowing as share of GDP to fall from 7.4% in 2013-14 to 5% in 2015-16 |
| Debt as a share of GDP to increase from 75.9% in 2013-14 to 85.6% in 2016-17 | |
| Most government departments to see budgets cut by 1% in each of next two years | Most government departments to see budgets cut by 1% in each of next two years |
| Schools and NHS will be protected | Schools and NHS will be protected |
| £11.5bn in further cuts earmarked in 2015-16 Spending Review, up from £10bn | £11.5bn in further cuts earmarked in 2015-16 Spending Review, up from £10bn |
| 1% cap on public sector pay extended to 2015-16 and limits on "progression" pay rises in the sector | 1% cap on public sector pay extended to 2015-16 and limits on "progression" pay rises in the sector |
| Military to be exempt from "progression" pay limits. | Military to be exempt from "progression" pay limits. |
| Proceeds of Libor banking fines to be given to good military causes, including Combat Stress charity | Proceeds of Libor banking fines to be given to good military causes, including Combat Stress charity |
| 600,000 more jobs expected this year than at same time last year | 600,000 more jobs expected this year than at same time last year |
| Claimant count to fall by 60,000 | Claimant count to fall by 60,000 |
| An extra £15bn for new road, rail and construction projects by 2020, starting with £3bn in 2015-16 | An extra £15bn for new road, rail and construction projects by 2020, starting with £3bn in 2015-16 |
| Corporation tax to be cut by 1% to 20% in 2015 | Corporation tax to be cut by 1% to 20% in 2015 |
| New employment allowance to cut National Insurance bills cut by £2,000 for every firm | New employment allowance to cut National Insurance bills cut by £2,000 for every firm |
| 450,000 small firms will pay no employer National Insurance | 450,000 small firms will pay no employer National Insurance |
| Government procurement from small firms to rise fivefold | Government procurement from small firms to rise fivefold |
| Tax relief for investment in social enterprises | Tax relief for investment in social enterprises |
| Stamp duty axed on shares traded on growth markets like Aim. | Stamp duty axed on shares traded on growth markets like Aim. |
| Tax avoidance and evasion measures, including agreements with Isle of Man, Guernsey and Jersey, aimed at recouping £3bn in unpaid taxes | Tax avoidance and evasion measures, including agreements with Isle of Man, Guernsey and Jersey, aimed at recouping £3bn in unpaid taxes |
| Tax incentives for ultra low-emission cars | Tax incentives for ultra low-emission cars |
| Pottery industry in Midlands to be exempt from climate change levy | Pottery industry in Midlands to be exempt from climate change levy |
| Tax allowances for investment in shale gas | Tax allowances for investment in shale gas |
| 2% Bank of England inflation target to stay in place | 2% Bank of England inflation target to stay in place |
| Bank remit to be changed to focus on growth as well as inflation | Bank remit to be changed to focus on growth as well as inflation |
| Single flat-rate pension of £144 a week brought forward a year to 2016 | Single flat-rate pension of £144 a week brought forward a year to 2016 |
| Cap on social care costs confirmed | Cap on social care costs confirmed |
| 20% tax relief on childcare up to £6,000 per child from 2015 | 20% tax relief on childcare up to £6,000 per child from 2015 |
| £5,000 payments for those who lost money on Equitable Life policies bought before 1992. Extra money for those on low incomes | £5,000 payments for those who lost money on Equitable Life policies bought before 1992. Extra money for those on low incomes |