10 things we're likely to see in the Budget

Wednesday 18 March 2015 09:10
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George Osborne will deliver his sixth Budget at 12.30pm on Wednesday. Here are 10 things we can expect the Chancellor to include:

- Savings: virtual abolition of the tax on savings income.

- Public spending cuts: eased in the final year of the 2015-20 parliament.

- Personal tax allowance: due to rise to £10,600 next month.

- Pensioners: the five million people who have already bought annuities will be able to sell them; possible cut in tax relief for high earners on their pension pots.

- Tax avoidance and evasion: “Google tax” on multinationals which move profits to low-tax countries; new offence of economic crime – helping people evade tax.

- North Sea oil: tax help for firms to head off job losses.

- Beer: a possible cut in beer duty.

- Petrol: possible freeze in fuel duty.

- Northern Powerhouse: an Oyster-style transport card for the North; electrification of the Selby to Hull line; investment in the chemical sector in the North-east.

- Housing: 45,000 new homes to be built on brownfield sites.

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