Gisela Stuart MPWorking hard for Bartley Green, Edgbaston, Harborne and Quinton

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.

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