money

Budget at-a-glance

Housing benefits The chancellor announces a plan whereby all long-term invalidity claimants on housing benefit will be reassessed to ensure that "work pays". Family From April 2009, child benefit for the first child will rise to £20 a week and the child element of the child tax credit will increase by £50 a year. Energy Five million customers on pre-paid meters should get a "better deal". Energy companies should spend £150m on social tariffs. Was the Budget good or bad? Have your say. Corporation tax Corporation tax will fall from 38% to 28% next month, as planned. ISAs Cash ISA limit confirmed as £3,600 a year from April. Small businesses Simpler taxes for small companies and funds available through the small firms loans guarantee will increase by 60% in the next year. There will also be better access to government contracts for small firms. In addition, a capital fund of £12.5m will be set up to encourage female entrepeneurs. Transport New measures will be intoduced at airports to speed up immigration procedures. New funding to test road pricing in order to reduce investment and environmental damage. From 2009, major reform of the vehicle excise duty. For new cars from 2010, the lowest polluting cars will pay no road tax in the first year. Higher polluting cars will pay more. Home ownership Key workers and those on low incomes will be able borrow money from shared-equity schemes, starting from 50% investment. There will also be no stamp duty on shared ownership until 80% of the property is owned. Mr Darling also wants to promote a wider choice of long-term fixed-rate mortgages and a review of housing finance, especially to help first-time buyers and those on a lower income. The government are committed to build 70,000 more houses by 2020. Was the Budget good or bad? Have your say.

Page Number
Page Navigation

Protect yourself from ID fraud

Protect yourself  from ID fraud

Get e-mail and text alerts for early fraud detection with a free Experian credit report.

07-07-2011