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"Budget 2003 - So far"

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Wed 09/04/03 at 13:34
Regular
Posts: 787
Military spending and the war
· £330m for counter-terrorism airport security
· £3bn in reserve for MoD
· Brown pays tribute to Blair's war leadership


Economic forecasts
· Inflation at 2.3% predicted to rise to 2.5% next year and beyond - less than previous forecasts
· Fixed investment in business expected to grow by 4.25% to 4.75%
· Consumption to grow by 2.5%
· Manufacturing output to grow by 0.25 to 0.75% this year


Property
· Stamp duty frozen on homes and commercial properties
· Stamp duty tax avoidance to be curbed in new bill
· Review of home loans and supply of homes


Cigarettes and alcohol
· 1p tax on pint of beer
· 4p on bottle of wine
· Tax on spirits frozen for 6th consecutive year
· Duty on cider and sparkling wine frozen
· 8p on pack of cigarettes


Transport
· £5 on car tax
· 1.28p rise in duties on petrol, deferred for 6 months
· Bio-ethanol duty lowered by 20p
· Air passenger duty frozen
· Vehicle excise duty on lorries and motorbikes frozen


Research and development
· Bid to raise R&D funding from 1.9% to 2.8% this year
· R&D tax credits to be expanded


International development
· £240m for humanitarian aid to Iraq
· Plans for £50bn fund for primary education and healthcare in developing world


Employment
· 253,000 new jobs created
· Fewer than 1m claiming unemployment benefot for first time since 1974
· Job Centres to get discretionary powers
· Those searching for a job for more than 13 weeks will have to extend search to 90 minutes travel time to workplace
· Relocation of some of civil service to regions


Gambling
· Direct tax on bingo to be scrapped


Small businesses
· Bid to boost investment in small businesses who struggle to raise equity
· 3 new tax reliefs for small and medium enterprises
· 500 small business regulations to go


Growth
· 2% average growth over 2001-02 - higher than USA, Japan and eurozone
· Growth forecast to be 2%-2.5%, making UK, with the US, the fastest growing G7 economy
Wed 09/04/03 at 20:19
Regular
"Brrrrr."
Posts: 1,864
£50 Billion on the developing world? Interesting...
Wed 09/04/03 at 20:17
Regular
"+34 Intellect"
Posts: 21,334
8p on a pack of cigarettes, thats theft.
Wed 09/04/03 at 20:14
Regular
"Going nowhere fast"
Posts: 6,574
Mr Lover Man wrote:
> It's amazing, I drive, have a job, don't play bingo, don't drink
> cider, have already bought a house with my girlfriend, have no
> kids...yet what benifits do I get, what tax releif do i get...blooming
> labour government...why I oughta!

Substitute husband for girlfriend and it pretty much covers everything I said, except at least they've left the vodka alone.
Wed 09/04/03 at 14:01
Regular
"Big Pimpin'"
Posts: 664
It's amazing, I drive, have a job, don't play bingo, don't drink cider, have already bought a house with my girlfriend, have no kids...yet what benifits do I get, what tax releif do i get...blooming labour government...why I oughta!

I'm off to become an Albanian with 20 kids...maybe then i'll get some money back off of the pilfering red-necks!
Wed 09/04/03 at 13:41
Regular
"Copyright: FM Inc."
Posts: 10,338
Affect on me:

I should quit smoking, drink cider, take up bingo and buy a pair of rollerskates so I can extend my jobsearch to 90 minutes travel time from my house.
Wed 09/04/03 at 13:34
Regular
"Big Pimpin'"
Posts: 664
Military spending and the war
· £330m for counter-terrorism airport security
· £3bn in reserve for MoD
· Brown pays tribute to Blair's war leadership


Economic forecasts
· Inflation at 2.3% predicted to rise to 2.5% next year and beyond - less than previous forecasts
· Fixed investment in business expected to grow by 4.25% to 4.75%
· Consumption to grow by 2.5%
· Manufacturing output to grow by 0.25 to 0.75% this year


Property
· Stamp duty frozen on homes and commercial properties
· Stamp duty tax avoidance to be curbed in new bill
· Review of home loans and supply of homes


Cigarettes and alcohol
· 1p tax on pint of beer
· 4p on bottle of wine
· Tax on spirits frozen for 6th consecutive year
· Duty on cider and sparkling wine frozen
· 8p on pack of cigarettes


Transport
· £5 on car tax
· 1.28p rise in duties on petrol, deferred for 6 months
· Bio-ethanol duty lowered by 20p
· Air passenger duty frozen
· Vehicle excise duty on lorries and motorbikes frozen


Research and development
· Bid to raise R&D funding from 1.9% to 2.8% this year
· R&D tax credits to be expanded


International development
· £240m for humanitarian aid to Iraq
· Plans for £50bn fund for primary education and healthcare in developing world


Employment
· 253,000 new jobs created
· Fewer than 1m claiming unemployment benefot for first time since 1974
· Job Centres to get discretionary powers
· Those searching for a job for more than 13 weeks will have to extend search to 90 minutes travel time to workplace
· Relocation of some of civil service to regions


Gambling
· Direct tax on bingo to be scrapped


Small businesses
· Bid to boost investment in small businesses who struggle to raise equity
· 3 new tax reliefs for small and medium enterprises
· 500 small business regulations to go


Growth
· 2% average growth over 2001-02 - higher than USA, Japan and eurozone
· Growth forecast to be 2%-2.5%, making UK, with the US, the fastest growing G7 economy

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