Budget 2013: At a glance
Wednesday 20 March 2013
* Fuel duty rise scrapped.
* Beer duty cut by 1p but wine up by 10p and spirits by 53p.
* Cigarette duties to rise 2 per cent with inflation.
* Income tax eliminated for all earnings under £10,000 by 2014.
* New scheme to allow property purchases with only 5 per cent deposits.
* Maximum 1 per cent pay rises for public sector workers to continue until 2016.
* Government departments to see budget cuts of 1 per cent more for two years, excluding health and schools.
* Single flat-rate pension of £144 a week brought forward a year to 2016.
* 20 per cent tax relief on childcare up to £6,000 per child from 2015.
* Corporation tax to be cut by one per cent to 20 per cent in 2015.
* New employment allowance to cut National Insurance bills for every firm by £2,000 to help small companies.
* Care home costs assets threshold to rise from £23,000 to £118,000 from 2017.
* Growth forecast for 2013 halved from 1.2 per cent to 0.6 per cent.
* Debt as a share of GDP to rise to 85.6 per cent in 2016-17, up from 75.9 per cent in 2013.
* Banking fines from Libor rate fixing scandal to be given to military good causes.
* An extra £15 billion to be invested in road, rail and construction by 2020.
* Tax avoidance and evasion measures to be targetted to recoup £3 billion.
* Pottery industry in the Midlands to be exempted from the Climate Change Levy.
* Stamp duty abolished on shares traded on growth markets like AIM.
* Leading athletes to be exempt from paying income tax at July’s London Anniversary Games and next year’s Commonwealth Games.
* Tax breaks to help the shale gas sector get established.
* Tax incentives for ultra low emission vehicles
* Government to go forward with two carbon capture and storage projects.
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