The Budget at a glance

Click to follow
Indy Politics

ALCOHOL



* Taxes increase by 6 per cent above inflation from midnight Sunday, then by 2 per cent for the next four years.



* 4p on a pint of beer.



* 3p on a litre of cider.



* Wine up 14p a bottle.



* Spirits up 55p a bottle.

SMOKING



* Packet of cigarettes up 11p from 6pm.



* Five cigars up 4p.

TRANSPORT



* Fuel: Planned 2p duty rise postponed to October.



* But fuel duty will rise by 0.5p per litre in real terms from 2010.



* New measures at Heathrow and other airports to speed up the time taken to get through immigration control, using biometric technology.



* Road pricing could fight congestion, so new funding committed to its development.



* From 2009 there will be new bands of road tax for the most polluting vehicles. From 2010, lowest emission cars will pay no tax in first year.

HOUSING



* 70,000 new affordable homes each year. Shared equity schemes extended, and stamp duty scrapped until owners have 80 per cent equity in these homes.



* More flexible mortgages urged, offering 10, 20 and 25 year fixed rates.



* Sites identified for 70,000 more houses.

PENSIONS



* Winter fuel payment for over-60s rise by £50 and for over-80s by £100.

ECONOMY



* Growth and low inflation will be maintained, as the economy has expanded for a record 10 years.



* Turbulence which started in US has affected all markets worldwide. This poses "major risk" to world economies.



* Growth forecasts lowered worldwide, but British economy grew by 3 per cent, the fastest of any economy.



* This year, growth in the British economy will be between 1.75 per cent and 2.25 per cent, and growth will rise to 2.25 per cent-2.75 per cent in 2009 and 2.5 per cent-3 per cent by 2010.



* Inflation will rise before returning to 2 per cent target in 2009.



* Debt this year forecast to be lower than PBR at 37.1 per cent.



* Public sector investment forecast to rise to £37bn in 2010.

POVERTY



* Housing and other benefits reformed further so families are better-off in work. Work capability assessments for all long-term incapacity benefit claimants by April 2010.



* Pledge to eradicate child poverty. Total of 600,000 fewer children in relative poverty and 150,000 fewer children in absolute poverty.



* £17 more a week for poor families with one child.



* From April 2009, child benefit rising to £20 for first child.



* A family with two children earning up to £28,000 a year will be £130 a year better off. A further £125m to be spent over the next three years to help families.



* Savings Gateway launched nationwide by 2010, offering incentives to more than 8 million people on low incomes.

ENVIRONMENT



* Target to reduce carbon emissions by 60 per cent may be extended to 80 per cent by 2050.



* Legislation to come into force in 2009 to impose a charge on single-use carrier bags if progress is not made on a voluntary basis.



* £26 million next year to help homes cut their carbon footprint and energy consumption.



* Pre-payment meter customers need better deal from energy companies. Government committed to helping these customers.



* New non-domestic buildings zero carbon by 2019.



* First carbon budget pledged alongside next year's Budget.



BUSINESS



* More help for small businesses, with capital gains tax remaining at 10 per cent.



* £60m more for Small Firms Loan Guarantee Scheme, which will be extended to all small companies.



* New target of 30 per cent of Government contracts for small firms.



* £30,000 charge for non-doms confirmed from April, but no further change for this Parliament and the next.



* Government to provide a capital fund of £12.5m to encourage more women entrepreneurs.

EDUCATION



* £10m over five years to improve science teaching. Outside contributions will bring this figure up to £30m.



* £60m over three years to boost skills for those entering the labour market.



* £200m to be invested in schools, bringing forward to 2011 Government target for all schools to have 30 per cent of pupils achieving five A-C grade GCSEs.

DEFENCE



* £2bn increase in spending on frontline troops.



Comments