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Budget day 2011
(13 posts, started )
Budget day 2011
As seen on The sun.

GEORGE Osborne has delivered the Budget he hopes will kick-start Britain's stalled economy.
The Chancellor is helping long-suffering motorists by cutting fuel duty by 1p a litre from 6pm tonight.
It comes as a huge victory for our Keep It Down campaign — backed by more than 200,000 Sun readers.
And he handed an income tax cut to the 23million Brits who do not pay the higher rate, raising the personal tax allowance by £630 to £8,105.


Mr Osborne also announced £250million of interest-free loans for first-time homebuyers to acquire new-build flats and houses, helping the construction industry at the same time.
Today's Budget is the first since last year's spending review, which outlined the government's brutal cuts programme.
It was described as a "bloodbath", and Mr Osborne was likened to a butcher gruesomely wielding a meat cleaver.
But today's measures are designed to get the economy moving — and this has been dubbed the Budget for Growth.
Other announcements included a freeze in air passenger duty, saving £24 on an economy fare to America and an extra two per cent on tobacco duty. However, there were no changes to alcohol duty.


HERE are the key details:
13.30 Inflation rise in fuel duty planned for next week to be delayed until 2012. Fuel duty to be cut by 1p per litre from 6pm tonight.


13.29 Saying the Budget puts "fuel in the tank of the British economy", Mr Osborne announced a new Fair Fuel Stabiliser, funded by increasing the supplementary charge on North Sea oil and gas production from 20 per cent to 32 per cent from tomorrow.


13.27 Vehicle Excise Duty to increase in line with inflation, and frozen for heavy goods vehicles.
13.26 Tobacco duty rates to increase by two per cent above inflation, as previously announced. Tobacco duty regime reformed to narrow differential between lower-cost brands and the others.


13.25 No new changes to alcohol duty beyond those already announced.


13.25 Plans to switch air passenger duty from passengers to planes have been dropped. This year's APD rise postponed for one year, and the Government will seek to impose the tax on private jets.


13.23 Personal tax allowance to rise by £630 to £8,105 in April 2012 — a real increase of £48 a year or £126 in cash terms.


13.22 Pay rise of £250 for armed forces, prison, NHS, teachers and civil servants earning under £21,000.


13.21 Clampdown on tax avoidance to raise £1billion per year from levies including Stamp Duty, Capital Gains Tax and relief on CDs imported from Channel Islands.


13.18 From April 2012, people leaving 10 per cent or more of their estate to charity will enjoy 10 per cent reduction in inheritance tax, benefiting charities by £300 million.


13.17 Simplification of Gift Aid, including increase in benefit limits from £500 to £2,500.

13.13 Government to seek automatic mechanism for future increases in state pension age, based on regular reviews of longevity.


13.13 Funds for an additional 40,000 apprenticeships and 10,000 higher-level apprenticeships.


13.12 Numbers of places on a new work experience scheme to increase to 100,000 over two years, rather than 20,000 as previously announced.

13.10 Green Investment Bank created with an additional £2billion, to start operation one year early in 2012.


13.10 Climate change levy discount on electricity for those signing up to climate change agreements will rise from 65 per cent to 80 per cent from April 2013.


13.09 The UKto become the first country in the world to introduce a carbon price floor for the power sector.


13.08 Public money to reduce unusually-high water bills in South West England.


13.07 Central funding of £100million to help councils repair potholes.


13.06 Investment of £200million in regional railways.


13.05 Investment of £100million in new science facilities in Cambridge, Norwich, Harwell and Daresbury, funded from Bank Levy. Small companies' research and development tax credit to rise to 200 per cent in April and 225 per cent in 2012.


13.05 Help for manufacturing to include new export credits, a technology and innovation centre and nine new university centres.


13.04 Support for Mortgage Interest scheme extended by one year to January 2013, reducing mortgage arrears for 100,000 jobless homeowners.


13.03 New shared equity scheme for first-time buyers to help 10,000 families get on to the housing ladder, funded from £250million from the Bank Levy.


13.02 Small business rate relief holiday extended by one year to October 2012, at a cost of £370million.


13.01 Reforms to radically reduce delays in approval for clinical trials; to improve the intellectual property regime in digital and creative industries; and reform the money laundering regime.


12.59 Reviews launched on the revenue raised by the 50p tax rate and on the taxation of very high value property.


12.58 Charge on non-domiciled taxpayers to increase from £30,000 for those here for seven years to £50,000 for those in the country for 12 years, raising more than £200million.


12.57 Entrepreneurs Relief scheme to be doubled to £10million from April 6.


12.56 Income Tax relief on Enterprise Investment Scheme to increase from 20 per cent to 30 per cent in April 2011.


12.54 Today's Plan for Growth will remove £350million worth of regulation on businesses.

12.53 Bank Levy rate to be adjusted next year to offset the effect of Corporation Tax reduction on banks.


12.52 Corporation Tax reduced by two per cent from April 2011 — rather than one per cent as previously announced — and to fall by one per cent in each of the next three years to reach 23 per cent.


12.45 Borrowing will fall to £122billion next year, then £101billion in 2012/13, £70billion in 2013/14, £46billion in 2014/15 and £29billion in 2015/16.

12.43 The additional cost of military operations in Libya will be funded by the Treasury reserve.




12.36 Mr Osborne said he does not need to ask the public for more taxes or more spending cuts. Measures announced today will be "fiscally neutral across the period" — neither raising tax nor offering "giveaways".


12.35 Mr Osborne said today's Budget was "about reforming the nation's economy, so that we have enduring growth and jobs in the future".




Have your say ....
You fail at being (The Stig).
Quote from boothy :You fail at being (The Stig).

At least it something that is to importance for people in the UK.
Time to spend lots of moniez.
Nope, sorry, Britain is still shit.
I like to wear skirts and walk around like a fairy, even though I am a fully grown man.
Unfortunately that's what being English does to you.
Quote from boothy :You fail at being (The Stig).

Bugger off. I was going to say that.

Off to buy some petrol soon!
I gotta say they are still living on cloud 9.

1p of fuel? Sorry when I'm paying £1.37 a litre for my diesel, over a tank which is about 550-600miles, that saves me...£0.57p. That's Mr. Choked Sausage.

I'm also interested how this will work:

Quote :13.30 Inflation rise in fuel duty planned for next week to be delayed until 2012. Fuel duty to be cut by 1p per litre from 6pm tonight.


13.29 Saying the Budget puts "fuel in the tank of the British economy", Mr Osborne announced a new Fair Fuel Stabiliser, funded by increasing the supplementary charge on North Sea oil and gas production from 20 per cent to 32 per cent from tomorrow.

So they're cutting fuel costs at the pumps by 1p but then charging the gas companies in the north sea 12% more?
Yeah a 1p cut is ridiculous considering prices have gone up about 25p in the past year. So another two weeks and the 1p will be back anyway. Why did they bother?
Quote from Bob Smith :Yeah a 1p cut is ridiculous considering prices have gone up about 25p in the past year. So another two weeks and the 1p will be back anyway. Why did they bother?

could be worse... try paying 1.50 per liter and getting sub 20 mpg !


all of the money here ( or the majority i should say ) goes directly to the crooks....

Bah humbug.
The price of petrol/diesel is a joke, petrol is around 136.8p with diesel sitting around 144.9p. But it's worse the further north and I've seen prices of 142.xx for petrol and 153.xx for diesel around Thurso/Wick....I'll hate to think what it is like on the Orkney and Shetland Isles.

Nothing changes, and overall I don't think anyone comes out of this budget well.
Quote from Mackie The Staggie :The price of petrol/diesel is a joke, petrol is around 136.8p with diesel sitting around 144.9p. But it's worse the further north and I've seen prices of 142.xx for petrol and 153.xx for diesel around Thurso/Wick....I'll hate to think what it is like on the Orkney and Shetland Isles.

Nothing changes, and overall I don't think anyone comes out of this budget well.

Last time I checked Diesel was between 137 and 140!
Better still be...

But it is a joke I agree.

Quote from Opening post :It comes as a huge victory for our Keep It Down campaign

Overstatement of the year....

Budget day 2011
(13 posts, started )
FGED GREDG RDFGDR GSFDG