Author: Simon Perry
Quick Summary of Budget
1:36 pm Tuesday, 22nd June, 2010, Isle of Wight
ShortURL: http://wig.ht/27yi
Read More- Island-wide, News, Overseas, Politics
These from the Tweets we sent out at the time …
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Budget: Child Tax credit to increase by £150 above inflation next year
- Budget: Tax-free personal allowance on income tax will be increased by £1,000 to £7,475 in April
- Budget: No duty increases in alcohol and cigarettes this budget. Cider tax not going to be increased as Labour had suggested.
- Budget: 4 Jan 2011 VAT to rise to 20%
- Budget: Broadband: Landline duty (yet to occur) to be dropped. Private broadband investment to be encouraged (no details)
- Budget: Small companies’ corporation tax will be cut to 20% next year
- Budget: Jan 2011 – Banking levy coming, bring in an expected £2Bn /year
- Budget: Re-introduction of tax breaks for Tourism – Furnished holiday accommodation
- Budget: Corporation tax – to cut by 1% per year over next four years to 24% eventually
- Budget: Public sector to have a two year pay freeze. Those on under £21k to get £250 pay-rise over that time
More detail on the way
