Budget 2010

StevieJ

Graham_Devon wrote: »

From Nick Robinson, that's pretty harsh!

You mean this Nick Robinson?

Now with the BBC appointing former Young Conservative Chairman Nick Robinson as its new political editor

sss555s

misskool wrote: »

just wondering whether labour are going to be brave enough to do the right thing.

They never have done yet so i doubt they will start now.

It was always going to be a "buy as many votes as we can" budget.

StevieJ

Summary from BBC

FUEL, CIGARETTES AND ALCOHOL AND FUEL DUTIES
3p fuel duty rise to be phased in between April and January 2011
Duty on cider to rise by 10% above inflation from Sunday
Wine, beer and spirit duty up 2% a year until 2013
Tobacco duty up 1% this year and 2% a year in future years
HOUSING
Stamp duty scrapped for homes below £250,000 for first-time buyers
Stamp duty on residential property sales over £1m to increase to 5%
UK ECONOMY
Economy contracted 6% during the recession
Predicted growth of 1-1.25% in 2010, in line with forecasts
Downgrades growth forecast for 2011 to 3-3.5%
BORROWING
Borrowing this year forecast to be £167bn - £11bn lower than expected
Borrowing to fall from £163bn in 2010-11 to £74bn by 2014-15
HELP FOR BUSINESS
£2.5bn support for small business to boost skills and innovation
One year business rate cut from October to help 500,000 companies
Investment allowance for small firms doubled to £100,000
Doubling relief on capital gains tax for entrepreneurs
No change to capital gains tax rates
£385m to maintain road network
BANK LENDING
One-off bank bonus tax has raised £2bn, double the amount forecast
Backs tax on bank transactions but on global basis
Basic bank account guaranteed for a million extra people
RBS and Lloyds Bank Group to provide £94bn in small business loans
New service to adjudicate credit disputes
JOBS AND TRAINING
Six month work or training guarantee for under 24s extended to 2012
Amount of time over-65s have to work to receive work credits reduced
OTHER TAXES AND ALLOWANCES
Tax allowances for those earning over £100,000 gradually removed
No changes to VAT or income tax planned
Inheritance tax threshold frozen for four years
Clampdown on tax avoidance to raise £500m
New tax agreements with Belize, Grenada and Dominica
GOVERNMENT SAVINGS
On track to achieve £11bn efficiency savings target
Reform of housing benefit to save £250m
15,000 civil servants to be relocated outside London
ENVIRONMENT
£2bn investment bank to back low-carbon industries
EDUCATION
Funding for 20,000 new university places in science and maths
£35m enterprise fund to help university-launched businesses
PENSIONS AND BENEFITS
Winter fuel allowance rates extended for further year

http://news.bbc.co.uk/1/hi/uk_politics/8584608.stm

ninky_2

tomterm8 wrote: »

Government is setting up a new national bank... tis back to the 70's.

i was mocked for suggesting this idea a while back. glad to see it's happening.

http://forums.moneysavingexpert.com/showthread.html?t=1549445

ninky_2

can we expect to hear anything from shadow chancellor giddy osborne on the budget. or have the tories told him to keep his mouth shut and his head down?

lostinrates

ninky wrote: »

i was mocked for suggesting this idea a while back. glad to see it's happening.

http://forums.moneysavingexpert.com/showthread.html?t=1549445

You think they won't be mocked?

ninky_2

purch wrote: »

Paid for by an increase to 5% for properties over £1m

can't see why that's a bad idea.

doire_2

Borrowing better than expected
Unemployment better than forecast

Clever use of words by NuLabour to try and make the economic shambles look half decent

ninky_2

HAMISH_MCTAVISH wrote: »

Summary.....

Revenue better than expected, borrowing lower than expected.

Stamp duty suspended for 2 years under 250K for FTB's.

Otherwise, soak the rich, keep spending up, protect recovery.

Little new or innovative here.

And Cameron now standing up complaining that Labour are stealing all the Tories ideas.

like a petulant child posh pugilistic fists at the ready. it's hardly an 'idea'.

mitchaa

Is the stamp duty removal only for FTB's or is it on any house purchased below £250k?

Is it a permanent move or another temporary measure?