Budget 1999: Key Points Of The Budget

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The Independent Online
New 10p starting rate of tax. Basic rate tax cut to 22p. Nearly one million taken out of National Insurance Contributions

Married Couple's tax allowance scrapped and replaced by Children's Tax Credit worth up to pounds 416 a year. Child benefit raised to pounds 15 a week for first child, pounds 10 for second

Miras scrapped. Stamp Duty raised by half a per cent on homes above pounds 250,000

pounds 1bn boost for OAPs. Winter allowance up from pounds 20 to pounds 100

pounds 55 cut in road tax for cars with smallest engines. Overhaul of company car tax. New energy tax on business

Unleaded petrol up by 3.8p a litre, packet of 20 cigarettes by 17.5p. No increase in wine, beer or spirits duties

pounds 1.7bn initiative to make computers available to all

Tax breaks to encourage employee share ownership, cuts in Corporation Tax

Extra pounds 1.1bn for schools, hospitals and crime prevention

Budget surplus of pounds 34bn over five years. Growth forecast at 1-1.5 per cent this year rising to 2.75 - 3.25 per cent in 2001. Inflation to stay at 2.5 per cent

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