Budget: Quick guide to key points

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Indy Politics

On the economy, security, health, manufacturing, trade and undustry, environment, vehicles, alcohol, smoking, jobs, pensions, inheritance tax, homes, ISas, child benefit, tax and education:

TAX

* Basic rate cut from 22p to 20p from April next year.

* 10p band removed on non-savings income.

* Inheritance tax threshold extended to £350,000.

* Upper limit for cash ISAs raised to £3,600 pa.

* 600,000 pensioners exempted from income tax.

* Pension credit guarantee to rise to £130 a week by 2010.

* Raised thresholds for top rate of tax to £43,000 by 2009.

VEHICLES

* Fuel duty up 2p a litre this year and next year - but this year's rise deferred to October.

* Biofuel discounts extended.

* Band B fuel-efficient cars see road duty cut from £50 to £35.

* Road duty for top-band vehicles raised to £300 this year, and £400 next year.

ALCOHOL AND SMOKING

* Duty on spirits frozen.

* Pint of beer and litre of cider up 1p each, wine up 5p a bottle, sparkling wine up 7p.

* From 6pm today, pack of 20 cigarettes up 11p.

* VAT cut from 17.5% to 5% on anti-smoking aids, such as patches.

ENVIRONMENT

* New zero-carbon homes costing up to £500,000 exempt from stamp duty.

* £800 million for Environmental Transformation Fund.

* Energy-efficient mortgages planned.

* £300 to £4,000 available for grants to pensioners installing insulation and central heating.

* Landfill tax to rise by £8 for each year to 2011.

* Tax relief on empty premises restricted to three months.

JOBS

* Jobs partnerships announced with major UK companies including M&S, Sainsbury's and Tesco, which could help up to 100,000 jobless people back into work over five years.

* And 50,000 16-17-year-olds to receive training wages.

CHILD BENEFIT

* Raised annually to £20 a week for first child.

* 200,000 more children to be lifted out of poverty.

* Free nursery education extended to 15 hours a week.

EDUCATION

* England spending to rise to £74 billion by 2010. Announcements on rest of the country later.

* Education spending will increase to 5.6% of national income - as compared with 4.5% in 1997.

HEALTH

* £8 billion more for the NHS.

BUSINESS

* Science investment to rise to £6.3 billion.

* Corporation tax down from 30p to 28p - lowest of all major economies.

* Small companies tax rate rises from 20p to 22p from 2009.

* All companies given £50,000 investment allowance.

PENSIONS

* Help for workers whose pensions have collapsed extended from £6 billion to £8 billion.

HOMES

* New shared equity competition to help first-time buyers.

SECURITY

* Extra £400 million for the Armed Forces.

* Extra £86 million for security and intelligence counterterrorism.

ECONOMY

* Net borrowing set to be £35 billion, or 2.7% of income, this year, reducing to £24 billion by 2012.

* Capital investment set to rise to £60 billion by 2012.

* 75% of new spending to be on frontline services.

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