Chancellor gives a helping hand to small businesses
BEER drinkers, house hunters and small businesses looking to take on an extra pair of hands were the winners of yesterday's Budget.
Chancellor George Osborne committed his fourth Budget to the House of Commons, claiming it was a Budget for an aspiration nation.
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Exact details of the Budget had been leaked minutes before the Chancellor took to the podium by the Evening Standard.
The headline figures of the Budget spelled out good news for beer drinkers with duty on the drink being cut by a penny and the scrapping of a beer duty escalator.
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Mr Osborne said: "Responsible drinkers — and our pubs — should not pay the price for the problems caused by others."
The 2013 Budget also included incentives for small businesses to take on more staff after the Chancellor introduced an Employment Allowance.
He said: "The Employment Allowance will work by taking the first £2,000 off the employer National Insurance bill of every company." Mr Osborne claimed it would mean 450,000 small businesses will pay no jobs tax at all.
He added: "For the person who's set up their own business, and is thinking about taking on their first employee — a huge barrier will be removed."
The Government is to introduce tax-free childcare vouchers for working families with 20 per cent off the first £6,000 of childcare costs for each child.
Low earners are also set to benefit from the scrapping of income tax on the first £10,000 salaries from 2014.
The Chancellor also cancelled a planned fuel duty increase due for September and said: "Petrol will now be 13p per litre cheaper than if we had not acted over these past two years to freeze fuel duty."
Mr Osborne also announced a mortgage guarantee scheme which would help families who want a mortgage for any home they are buying but cannot afford deposits currently being demanded.
He said: "This will be available to lenders to help them provide more mortgages to people who can't afford a big deposit.
"These guaranteed mortgages will be available to all homeowners, subject to the usual checks on responsible lending."
Welsh businesses are also set to benefit from a further one per cent reduction in the main rate of corporation tax, bringing it to 20 per cent by 2015.
10 Comments
by odinhouse
Monday, March 25 2013, 5:59PM
“WELL - WELL it Took me half a day to send the write up and ( 4 ) four come's up , Don't under stand why this Happened,,......................................???????????????????”
by odinhouse
Monday, March 25 2013, 5:51PM
“They ban Smoking add's but Don't Ban Drinking add's...? i wonder why, is it because a few Tories has a finger in the pie . Drinking now causes more Renal failure than smoking did.. yes cancer , what is the use of taking a 1p off a pint.. Less Rate's for Public Houses they want..? so they have a better chance of surviving then...( PUB'S ) can compete with super markets ..? Try again then”
by odinhouse
Monday, March 25 2013, 4:20PM
“They ban Smoking add's but Don't Ban Drinking add's...? i wonder why, is it because a few Tories has a finger in the pie . Drinking now causes more Renal failure than smoking did.. yes cancer , what is the use of taking a 1p off a pint.. Less Rate's for Public Houses they want..? so they have a better chance of surviving then...( PUB'S ) can compete with super markets ..?”
by odinhouse
Monday, March 25 2013, 4:16PM
“They ban Smoking add's but Don't Ban Drinking add's...? i wonder why, is it because a few Tories has a finger in the pie . Drinking now causes more Renal failure than smoking did.. yes cancer , what is the use of taking a 1p off a pint.. Less Rate's for Public Houses they want..? so they have a better chance of surviving then...( PUB'S”
by odinhouse
Monday, March 25 2013, 3:46PM
“They ban Smoking add's but Don't Ban Drinking add's...? i wonder why, is it because a few Tories has a finger in the pie . Drinking now causes more Renal failure than smoking did.. yes cancer , what is the use of taking a 1p off a pint.. Less Rate's for Public Houses they want..? so they have a better chance of surviving then...( PUB'S)”
by immigrant1
Friday, March 22 2013, 9:59AM
“Wasted opportunity. Get people to drink more so that their health deteriorates, and then spend more money on the NHS to sort out the bad health issues. Ban alcohol, and the NHS will save a fortune. So will the police.”
by peter17776
Thursday, March 21 2013, 1:07PM
“ok..so its 3.09 for a pint now instead of 3.17...wahaaay..lets all have a party........income tax being cut...from april 2014...an election booster....give millions to mugabe and co as well...this government will be out soon...bye bye”
by Hoswy51
Thursday, March 21 2013, 11:21AM
“What did people expect, the biggest giveaway in recession history?
Lets be realistic here, if you personally had to look after a trillion pound debt, would you be spending what you could not afford!
I'd say this situation we are in is alike to turning a supertanker around that cruising at 20 knots, its going to take a fair old while to turn the brute around (equating to quite a few years of austerity).
Hopefully Labour won't have the opportunity to take us back here when the next election comes around ;-)”
by williamwaun
Thursday, March 21 2013, 9:31AM
“It's not 1p off. They where going to put it up by 7p but instead has taken a penny off the price of beer. Also if Labour was in power every time you fill up a tank of petrol it would cost an extra £7 because they tax everything. Remember Labour give millions to the banks without any constraints. Also this Government is cutting the amount of income tax that is paid on your wages.”
by peter17776
Thursday, March 21 2013, 9:03AM
“well done...so its 3.09 for a pint now instead of 3.10...wahaaaay”