Economic growth is forecast to be 0.6% this year. Down from the
predicted 1.2% made last December.
Public sector net debt will fall by 2017/18, the Office for
Budget Responsibility forecasts.
Corporation tax will be reduced by a 1% to 20% in April 2015 to
show "Britain is open for business". But the bank levy rate will
increase to 0.142% to offset this reduction. This is the lowest
business tax for any major eonomy in the world.
The first £2,000 to be taken off all employers' National
Insurance bill. This will benefit 450,00 SME's.
New 'Employment Allowance' take the first £2,000 of the
Employer NI bill of every company in the country. 450,000 SME's
affected - that's 1/3rdof all employers.
Income tax threshold to be raised to £10,000 by next
Planned fuel duty rise scrapped. Meaning Petrol will be 13p a
litre cheaper than if the fuel duty had not been frozen over the
last two years.
Chancellor George Osborne promises an extra £3bn a year for
infrastructure from 2015-16.
Double the size of the loans that employers can offer tax-free
to pay for items such as season tickets for commuters to
Commit £3.5bn to shared equity loans. Government will offer
equity at 20% of a value of a new home. Meaning if you can afford
5% of your deposit, the government will loan you 20%.
Osborne announced 'Help to Buy' homes. He proposed two
components: £3.5bn in capital spending over three years to shared
equity loans; and a loan of up to 20% of a home's value to be
offered to people looking to move up the ladder.
Full details can be found