Thoughts?

UK ECONOMY
2011 growth forecast downgraded from 2.1% to 1.7%
2012 forecast also down from 2.6% to 2.5%
Inflation set to remain between 4% and 5% in 2011

FUEL, CIGARETTE AND ALCOHOL DUTIES
No further changes to alcohol duty rates
1p reduction on fuel p.litre - no hike til 2012

INCOME TAX
No new personal tax increases
Personal tax allowance to rise a further £630 to £8,015 in April 2012
Consultation on long-term plan to merge income tax and National Insurance
50% top rate of tax to remain but review of how much it raises

BORROWING
Forecast borrowing of £146bn this year, £2.5bn lower than anticipated
Borrowing to fall to £122bn next year, dropping to £29bn by 2015-16
National debt forecast to be 60% of national income this year, up to 71% in 2012

OTHER TAXES AND ALLOWANCES
Council tax to be frozen or reduced this year across England
10% discount on inheritance tax for people leaving 10% of estate to charity
Rise in air passenger duty to be frozen this year
Private jet users to pay passenger duty for first time
Levy on so-called "non-doms" up to £50,000 for those resident in the UK for 12 years
Tax avoidance clampdown to raise £1bn this year
Support for families in the south-west of England with water bills

HOUSING
Government-backed shared equity scheme to help 10,000 first-time buyers

HELP FOR BUSINESS
Corporation tax to be cut by 2% in April, not 1% as previously planned
Bank levy to be adjusted so banks do not pay less tax as a result
43 tax reliefs to be scrapped as part of simplification of tax code
£350m of business regulation to be scrapped
No new regulation on firms with fewer than 10 staff for three years
Business rate relief holiday for small firms extended for another year
New rules to require planners to prioritise growth and jobs
£100m funding for science facilities
21 "enterprise zones" to be launched, backed by tax incentives

JOBS AND SKILLS
Funding for 12 further university technical colleges
40,000 new apprenticeships for young people out of work
Funding for 100,000 work experience placements

PENSIONS
Accepts Hutton review of reform of public sector pension contributions
Long-term aim for £140 a week flat-rate state pension - not to apply to current pensioners

TRANSPORT
£100m for repairing potholes in England
£200m support for regional railways in England

GREEN MEASURES£2bn extra funding for Green Investment Bank - to launch in 2012

Nice U-turn on fuel duty. Not only scrapping the rise in April, but reducing it by a penny from 6pm tonight.

Still appauling but better than any proposed rise. £1.47 p.ltr diesel I paid yesterday

[i£100m funding for science facilities[/i

Good news for Daresbury Research

have fags and beer gone up, and have they brought in a gambling tax?

Fags up...beer not

the conspiracy theorist in me wonders about a proposed move to combine NI with income tax.

Merge it then scrap the NHS keep tax at same level and pay insurance premiums on top.

i've not paid national insurance for years...

Could I have your name and post code please.



Excellent budget in the circumstances, and I commend it to the house.

Self employed, was told that I did'nt have to pay it, but if I never, i would not be entitled to a full state pension.

not really bothered;
a/ be dead by then
b/ thee will not be a retirement age... may aswell put your money into a pyramid scheme.

beer and no petrol rise christ that must be a 1st..the damage has already been done with this pathetic bunch

Spot on political analysis. I particularly like the way the pathetic coalition put us £875 billion in debt too. It would be better to vote the Labour government back into power in another 4 years so they can sort their financial mess out.

If only Gordon Brown was still in power..... all would be well in Olde Blighty.