Sticks
17-04-2002, 04:32 PM
This summary from the BBC Website (http://news.bbc.co.uk/hi/english/uk_politics/newsid_1933000/1933547.stm)
Budget 2002: At-a-glance
The main points of Chancellor Gordon Brown's 2002 Budget
Tax
1p in the pound increase in National Insurance contributions across the board
Freeze on road tax
Freeze on fuel duty
6p on a packet of cigarettes
Freeze on beer, spirits and wine duty
Duty halved for small brewers - equivalent of 14p off a pint in time for this summer's World Cup
Alcopops to be taxed at the same rate as spirits
Bingo players exempt from tax
Health spending
43% rise in NHS spending over next five years
Health spending to increase by 7.4% a year
Extra £1bn in 2002/3 for NHS through cash savings elsewhere
Commitment to continue funding NHS out of general taxation
Social insurance and other alternative methods of funding ruled out
NHS reform
Annual report to parliament by independent NHS auditor
Local reports showing how health money has been spent
More choice for patients
New financial incentives for hospitals to improve performance
Education
Direct payments to secondary schools to go up to £114,000 this year
Direct payments to primary schools to go up to £39,300 this year
Help for families
New Child Tax Credit will be available right up the income scale
Families with annual incomes of £58,000 or below will receive help
For the first year of a child's life families earning up to £66,000 will also receive help
Child credit will increase in line with earnings for rest of parliament
Parents will receive £54.25 for the first child and £92.75 for two child family
Families with two children earning up to £35,000 to get up to £50 a week to help with childcare costs
Package adds up to £2.5bn extra for working families
Single working people and the disabled
Working Families Tax Credit extended to single people
Tax credits for couples without children
Working single parents to be guaranteed £179 a week and extra help with childcare
Minimum income for working families of £237 a week
Working disabled single people guaranteed £194 a week
Pensions
Basic state pension increased by £3 a week for single OAPs and £4.80 for couples
Five million pensioners to gain from Pension Credit of about £400 a year
Elderly taxpayers will be able to set the first £6,010 of income against tax, and £6,740 if 75 or over
Other measures
Tax breaks for amateur sports clubs
Review of tax rules for foreign domiciled individuals living in the UK
Tax avoidance loopholes on stamp duty closed
Tax royalty on North Sea Oil to be abolished
The unemployed
New measures to help long-term unemployed
Extending "step up" scheme for unemployed
The environment
Road tax cut for least polluting cars and motorbikes
Cut of £55 in licence fee for least polluting vans
Green electricity production exempted from climate change levy
Small business
Extra £30m for small firms' training needs
Direct cash help to small firms filing tax returns online
Automatic relief for VAT on bad debts for small firms
Automatic fines for late VAT payment abolished for 700,000 small firms
Plan to extend flat rate VAT to more small firms from next April
Small companies' starting rate of corporation tax cut to zero
Small companies' tax cut by 20p to 19p with immediate effect
New R&D tax credit set at 25% - £400m a year
The economy
Extra £4bn for public spending next year
Debt interest will fall to £21bn this year, 2% of national income
GDP growth in 2004 predicted to be between 2.5% to 3%
GDP growth in 2003 predicted to be between 3% and 3.5%
GDP growth predicted to be between 2 and 2.5% this year
UK economy grew by 2.2% in 2001, slightly below the chancellor's forecast
:sleep: Oi wake up at the back!!
Budget 2002: At-a-glance
The main points of Chancellor Gordon Brown's 2002 Budget
Tax
1p in the pound increase in National Insurance contributions across the board
Freeze on road tax
Freeze on fuel duty
6p on a packet of cigarettes
Freeze on beer, spirits and wine duty
Duty halved for small brewers - equivalent of 14p off a pint in time for this summer's World Cup
Alcopops to be taxed at the same rate as spirits
Bingo players exempt from tax
Health spending
43% rise in NHS spending over next five years
Health spending to increase by 7.4% a year
Extra £1bn in 2002/3 for NHS through cash savings elsewhere
Commitment to continue funding NHS out of general taxation
Social insurance and other alternative methods of funding ruled out
NHS reform
Annual report to parliament by independent NHS auditor
Local reports showing how health money has been spent
More choice for patients
New financial incentives for hospitals to improve performance
Education
Direct payments to secondary schools to go up to £114,000 this year
Direct payments to primary schools to go up to £39,300 this year
Help for families
New Child Tax Credit will be available right up the income scale
Families with annual incomes of £58,000 or below will receive help
For the first year of a child's life families earning up to £66,000 will also receive help
Child credit will increase in line with earnings for rest of parliament
Parents will receive £54.25 for the first child and £92.75 for two child family
Families with two children earning up to £35,000 to get up to £50 a week to help with childcare costs
Package adds up to £2.5bn extra for working families
Single working people and the disabled
Working Families Tax Credit extended to single people
Tax credits for couples without children
Working single parents to be guaranteed £179 a week and extra help with childcare
Minimum income for working families of £237 a week
Working disabled single people guaranteed £194 a week
Pensions
Basic state pension increased by £3 a week for single OAPs and £4.80 for couples
Five million pensioners to gain from Pension Credit of about £400 a year
Elderly taxpayers will be able to set the first £6,010 of income against tax, and £6,740 if 75 or over
Other measures
Tax breaks for amateur sports clubs
Review of tax rules for foreign domiciled individuals living in the UK
Tax avoidance loopholes on stamp duty closed
Tax royalty on North Sea Oil to be abolished
The unemployed
New measures to help long-term unemployed
Extending "step up" scheme for unemployed
The environment
Road tax cut for least polluting cars and motorbikes
Cut of £55 in licence fee for least polluting vans
Green electricity production exempted from climate change levy
Small business
Extra £30m for small firms' training needs
Direct cash help to small firms filing tax returns online
Automatic relief for VAT on bad debts for small firms
Automatic fines for late VAT payment abolished for 700,000 small firms
Plan to extend flat rate VAT to more small firms from next April
Small companies' starting rate of corporation tax cut to zero
Small companies' tax cut by 20p to 19p with immediate effect
New R&D tax credit set at 25% - £400m a year
The economy
Extra £4bn for public spending next year
Debt interest will fall to £21bn this year, 2% of national income
GDP growth in 2004 predicted to be between 2.5% to 3%
GDP growth in 2003 predicted to be between 3% and 3.5%
GDP growth predicted to be between 2 and 2.5% this year
UK economy grew by 2.2% in 2001, slightly below the chancellor's forecast
:sleep: Oi wake up at the back!!