What do you think about the budget? // April 22nd, 2009 // Constituency News, Uncategorized
Labour’s Chancellor Alistair Darling presented the budget today (22 April).
Key measures include:
· Extending the increase in the winter fuel payment for another year. The payment is worth £250 for over 60s and £400 for the over eighties.
· An increase in the limit for tax-free savings through ISAs to £10,200 – of which £5,100 can be saved in cash.
· The continuation of the stamp duty holiday for those buying properties of less than £175,000.
· The offer of a guaranteed job, training or work placement for all 18-24 year olds who are unemployed for 12 months.
· An increase in the level of statutory redundancy pay, making the weekly rate £380.
· An additional rate of income tax of 50 per cent that from April 2010 which will apply to those who have income over £150,000.
· From April 2011, tax relief on pensions contributions will be restricted for those with incomes of £150,000 and over, and tapered down until it is 20 per cent.
· The setting of a legally binding 34 per cent reduction in emissions by 2020, (the world’s first carbon budget, as required by the Climate Change Act).
· An increase in fuel duty of 2 pence per litre from 1 September 2009.
· A vehicle scrappage scheme, co-funded with industry, that will enable consumers who scrap vehicles older than ten years to replace them with new vehicles at a discount of £2,000.
· An increase in alcohol duties by 2% - about 1p a pint - from midnight.
· An increase in tobacco duty by 2% from 6pm - adding about 7p to a packet of 20 cigarettes.
Please use the comment form below to let Gisela know what you think.
6 Comments to “What do you think about the budget?”
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Honestly, not much of yesterday’s budget currently directly impacts on me. I think the initial reaction has been interesting, people have been quick to throw their hands up and screech about it being the end of the world.
I think some time and reviewing the information with a cooler head will be good. At budget time I always end up feeling a bit bewildered by the volume of information & not always following the stuff that’s totally irrelevant to me. (I don’t drive, I don’t own a house, I don’t smoke)
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By Benjaminbrum | April 23, 2009
I have called it the budget that wasn’t. It didn’t introduce much of any real substance that will make a material difference to the vast majority of individuals and businesses.
This leaves me with the feeling that all the government have is hope. Let us hope, believe, and act, in a positive way forwards, and who knows, it might just get better. Not much of a financial manifesto, but in uncharted waters, what else is there?
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By Ed Hart | April 23, 2009
I reckon there’s a decent story to tell from this budget - more help for savers and pensioners, the 50% tax rate sends out an important social-justice message, and the fuel duty is an important environmental step. Alongside that there’s an important bulwark against long-term youth unemployment. The other environmental stuff is perhaps less impressive, for various reasons, but there’s more than enough here to be going on with.
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By James McKay | May 6, 2009
Hi, good post. I have been wondering about this issue,so thanks for posting.
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By AndrewBoldman | June 4, 2009
Also that we would do without your excellent idea
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By LeraJenkins | June 22, 2009
What amusing topic
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By PeterMontee | July 2, 2009