Quick Summary of Budget

These from the Tweets we sent out at the time

These from the Tweets we sent out at the time …

    Budget: Child Tax credit to increase by £150 above inflation next year

  • Budget: Tax-free personal allowance on income tax will be increased by £1,000 to £7,475 in April
  • Budget: No duty increases in alcohol and cigarettes this budget. Cider tax not going to be increased as Labour had suggested.
  • Budget: 4 Jan 2011 VAT to rise to 20%
  • Budget: Broadband: Landline duty (yet to occur) to be dropped. Private broadband investment to be encouraged (no details)
  • Budget: Small companies’ corporation tax will be cut to 20% next year
  • Budget: Jan 2011 – Banking levy coming, bring in an expected £2Bn /year
  • Budget: Re-introduction of tax breaks for Tourism – Furnished holiday accommodation
  • Budget: Corporation tax – to cut by 1% per year over next four years to 24% eventually
  • Budget: Public sector to have a two year pay freeze. Those on under £21k to get £250 pay-rise over that time

More detail on the way

Tuesday, 22nd June, 2010 1:36pm


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Filed under: Island-wide, Isle of Wight News, Overseas, Politics

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