News

10 things we're likely to see in the Budget

10 things we're likely to see in the Budget

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.

More: Just why does George Osborne think exotic meat is more essential than tampons?

More: Osborne's economics praised, but we're not all in it together

The Conversation (0)
x