This Years Budget

This Years Budget

On cigarettes, my decision is, for public health reasons, to go ahead with the annual inflation rise of 9 pence a packet from tomorrow.

"I will freeze duty on whisky and all spirits for the ninth successive year, the longest period without an increase for half

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a century.
"I will implement, from midnight on Sunday, only the normal annual inflation rise of 4 pence on wine, 1 pence on a pint of beer.

"In anticipation of World Cup success this summer, I am freezing duty on champagne and on British sparkling wine.

"I will also freeze duty on cider."

STAMP DUTY

"I will raise the exemption on stamp duty to 125,000 pounds -- which means with last budget's measure and this, we have taken 400,000 homebuyers out of stamp duty."

ISAs

"The tax-free limit for ISAs will remain 3,000 pounds cash and 7,000 pounds in total.

"And I can report that 190 billion pounds has already been invested by 16 million people in ISA accounts.

"I can confirm as usual the tax-free winter allowance of 200 pounds for pensioners and 300 pounds for the over 80s. Further support for pensioners will be contained within the forthcoming pensions white paper."

HOUSING

"We are well on our way to meeting our objective of 2 million new homeowners since 1997.

"To attract more capital into house building we will legislate to introduce for Britain real estate investment trusts that are so successful in the USA.

"The Deputy Prime Minister is today announcing the allocation of 970 million pounds for shared equity to help 35,000 new homeowners get their first step on the ladder of homeowning in our country."

PERSONAL ALLOWANCES

"We are raising the personal tax allowance from 4,895 pounds to 5,035 pounds."

EARLIER QUOTES

EQUITY FINANCE

"Small firms with high growth potential often need equity finance. So I can announce 100 million pounds of new money to double enterprise capital funds.

VEHICLE EXCISE DUTY

"I propose to radically reform vehicle excise duty.

"I am introducing, to take effect tomorrow, a zero rate for a small number of cars with the very lowest carbon emissions which will pay no duty at all and instead of 75 pounds for cars with low emissions, significantly lower rates of 40 pounds.

"Duty rates from today will be zero, 40 pounds and then 100, 125, 150, 190 up to a new band of 210 pounds for the small number of new cars that are the most polluting, one percent of all cars -- this will help pay ... for five million more fuel efficient cars to have their duty cut.

"As a result of our decisions, and at an eventual cost of 10 million to the exchequer, the duty paid on 50 percent of cars will be frozen or reduced from tomorrow."

"Instead of just 300,000 motorists paying 100 pounds a year or less, three million will now pay 100 pounds or less.

"To further reduce carbon emissions, 5 percent of fuel will be made from bio-fuels by 2010. And I can announce new support and incentives that will, with the duty differential of 20p be worth up to 35p a litre by 2008.

"It is our policy that each year fuel duties should rise at least in line with inflation, as we seek to meet our targets for reducing emissions and to fund our public services.

"But for the fourth successive budget, because of high and volatile prices in the oil market, I propose to defer the usual inflation until September 1."

TAX INCENTIVES

"Growing companies need venture capital so we will refocus tax incentives for venture capital- a 30 percent relief for investment in venture capital trusts. From today, twice as much investment as before will be eligible for income tax relief in enterprise investment schemes."

CORPORATION TAX

"Since 1997, corporation tax has been cut from 33 pence to 30, small business tax from 23 pence to 19, capital gains tax for long term business assets from 40 to 10, a corporate tax system we will continue to discuss with business and keep internationally competitive. And I agree with employers who suggested that for low paid workers there is a case for better alignment of the national insurance and income tax systems so we will conduct a review."

WOMEN

"Following the recommendations of the Women and Work Commission, I can today announce new help for working women who want a wider range of career choices offering higher earnings and to close the pay gap with men.

"We will double available training for women with low skills, we will increase the work credit, and from October increase the minimum wage to 5.35 pounds an hour and we will address the unacceptable discrimination in women's pay."

GOLDEN RULE

"We meet our first fiscal rule, the golden rule by a margin of 16 billion.

"To meet the infrastructure needs of business we have been able to double investment in skills, transports and science.

"Yet even with such levels of investment vital to our economy we are still comfortably meeting our second fiscal rule

"We are well placed to meet our golden rule in the next cycle too."

STABILITY

"I am also publishing a new memorandum of understanding between Treasury, Bank of England and the Financial Services Authority so that Britain has in place the most up to date early warning and response system to deal with any risk with financial stability."

GDP

"I can confirm to the house ... that growth will be 2 to 2.5 percent, followed in 2007 and 2008 with growth between 2.75 and 3.25 percent."

GILTS

"Today, I am publishing a new remit for the debt management office. Last year our stability enabled us for the first time in a generation to issue bonds with maturities of up to 15 years. And I can announce that in the next issue long dated gilts will increase from just under a half to just under two thirds, reflecting the benefits we now gain as a country from long term stability."

INFLATION

"I can report we have met our inflation target this year and every year since 1997 looking five years ahead and 10 years ahead. Under current policies, inflation is still expected to be in line with our target."

"We will continue to be vigilant over global imbalances and oil prices and we will take no risks with inflation at home."

pathetic aint it

well we do have an nhs, 2 wars, crime, immigration, daft spending on worthless shite. and schools to fund.

who the fuck is? who the fuck is? who the fuck is tony blair?

ooh you're so negative Brid

Re: This Years Budget

the charvers will be happy

i don't even know what it is, but lucky you

something to do with moving/selling a house

i hear people debate about forthcoming budgets etc but the only people i seem to ever hear getting irate about it is smokers.

if i mentioned budgets, or politics for that matter i would rpobs get a slap from my mates, they would get 1 off me. your sittin at a party "oh so new labour......" :sleep:

what a completely arseholish comment to make

Although it's hardly a conversation starter at a party, I still think people should take some interest in gov policies ... the "let them get on with it" mindset is worrying .... let them get on with what??? Whatever they want??

Admittedly, at a party, i'm much more likely to talk about the attractiveness rating of the various men in the room at the time though

saying he has wrong freinds because they dont drone on about the budget all the time stuck up