 | | | Wednesday, 8 November, 2000, 16:40 GMT Pre-Budget report at a glance
The main points of Chancellor Gordon Brown's pre-Budget report: Pensions Single pensioners to get a rise of �5 a week next year, couples to get �8 a week Pensions to rise in the following year by �3 for single pensioners and �4.80 for couples Minimum income guarantee to rise to �92.15 a week by 2001, by 2003, it will be �100 a week From 2003 minimum income guarantee will be raised in line with earnings Pension credit to rise in line with earnings Pension credit to be available to pensioner couples with an income below �200 a week and all single pensioners with an income below �135 The winter fuel allowance to rise to �200 for every pensioner household this year Fuel and motoring A freeze in duties on fuel until April 2002 2p-a-litre cut in excise duties on ultra-low sulphur petrol from Budget day 2001, to add to a 1p cut in tax on the fuel introduced on 1 October this year Fund for scrapping or converting older lorries New British disc to be placed on all foreign lorries using British roads Abolish vehicle excise duty on tractors Lower rate of vehicle excise duty extended on smaller cars from those under 1200cc to those up to 1500cc, giving five million drivers access to a �55 discount Vehicle excise duty rate for lorries will be cut, giving the average lorry driver a saving of �715 a year The 100 separate rates of vehicle excise duty for lorries to be replaced by seven bands Economic forecasts Budget surplus forecast at �16.6bn Surplus to be used on debt repayment Inflation is meeting its 2.5% target Growth forecast at 3% Manufacturing growth forecast at 1.5% Net cash debt repayment this year would be �28bn The national tax burden will not rise next year Business and e-commerce Consultations promised on abolishing withholding tax, and lower tax on company share holdings Expand tax relief on share options to help e-commerce Savings Review all the capital limits on savings ISA limit to rise to �7,000 for five years Urban development Stamp duty exemptions for properties in poorer communities Proposals to reduce VAT on repairs to church buildings from 17.5% to 5% Tax relief on cost of cleaning up contaminated landEducation and employment New Deal to be extended to an additional 150,000 lone parents Every head of a primary school will get between �4,000 and �7,000 and every secondary head will get between �10,000 and �30,000 to spend on their schools from a windfall levy of �200m | | See also: Internet links:
The BBC is not responsible for the content of external internet sites |
E-mail this story to a friend
