Thursday 5 December 2013

Autumn Statement highlights

Transferable marriage allowance and no NI for younger employees

Read more: http://www.dailymail.co.uk/news/article-2518591/Autumn-Statement-2013-George-Osborne-plead-time-fix-nations-finances-despite-stronger-economic-growth.html#ixzz2mbqHcf8N

AUTUMN STATEMENT: WHAT THE CHANCELLOR HAS ANNOUNCED

  • Growth will be 1.4% this year, up from 0.6 predicted in March
  • There will be an extra 400,000 jobs this year as a result
  • Borrowing will be £111billion this year, down from £120billion
  • Small surplus expected by 2018-19
  • There will be an extra £1billion in spending cuts every year for three years
  • Under-50s told they will have to work until they turn 70
  • Fresh crackdown on tax avoidance
  • 8million people to benefit from £200-a-year tax break for married couples
  • Free school meals for 1.8million under-7s
  • Tax discs to be scrapped and fuel duty rise for next September abolished 
  • Business rate rises capped at 2 per cent instead of 3.2 per cent as planned
  • Details of how the government would cap £100billion of welfare spending
  • Plans to ban jobless benefits for under-25s under 'earn or learn' policy
  • Evidence that tax cuts boost the economy
  • £50 to be knocked of energy bill rises as taxpayer pays for green levies
  • £270 million for Quantum technology
  • Rail fares capped at inflation for 2014
  • 50 per discount from business rates if people take on empty business properties for three years.

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