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Last Updated: Sunday, 18 March 2007, 16:52 GMT
Gordon Brown: A decade of Budgets

Gordon Brown is presenting his 11th Budget on 21 March 2007. He is the longest serving Labour Chancellor. Here are the key measures in his 10 previous Budgets.


Income Tax: Mortgage interest relief cut to 10% from April 1998.

VAT: Rate on domestic fuel cut from 8% to 5%.

Excise duties: Road fuel duties raised from 5% a year to 6% a year real increase; Tobacco duty raised from 3% a year to 5% a year real increase.

Capital Taxes: Graduated stamp duty introduced: 1% for properties between 60,000 and 250,000; 1.5% between 25,000 and 500,000; 2% over 500,000.

Company Taxes: Windfall tax on privatised utilities.

Main corporation tax rate cut from 33% to 31%. Small companies rate cut from 23% to 21%.

Dividend tax credits for pension funds and other companies abolished.


Income Tax: Working Families Tax Credit introduced from October 1999. Married Couples allowance restricted to 10% from April 1999.

Savings: Individual Savings Accounts (ISAs) introduced from April 1999.

Excise Duties: Differential widened between diesel and unleaded petrol.

Capital Taxes: Personal Capital Gains Tax reformed; indexation abolished and taper introduced.

Company Taxes: Advance Corporation Tax (ACT) replaced by quarterly payments. Main rate cut to 30%, smaller companies rate cut to 20% from April 1999.


Income Tax: Basic rate cut from 23% to 22% from April 2000. New 10% starting rate from April 1999; 20% rate abolished. Married couples allowance abolished from 2000 for under-65s. Children's tax credit announced from April 2001. Real increase in child benefit in April 2000.

Mortgage tax relief: Abolished from April 2000.

National Insurance: Employee starting rate aligned with income tax by April 2001. Upper earnings limit raised above inflation for next three years. Self-employed structure reformed from April 2000. Employer contributions on all benefits in kind. Employer rate cut by 0.5% from April 2001.

Capital Taxes: Stamp duty raised to 2.5% on all properties between 250,000 and 500,000; 3.5% on properties over 500,000.

Company Taxes: Climate change levy from 2001/2002.


Spending: Large real increase in NHS spending promised after the Wanless Review.

Income Tax: Working Families Tax Credit, child premiums in income support and Children's Tax Credit increased.

National Insurance: Employer rate cut by 0.3% from April 2001, instead of 0.5%, to reflect reduction in Climate Change Levy.

Excise Duties: Road fuel duty frozen in real terms. Cigarettes increased by 5% in real terms.

Capital Taxes: Stamp duty raised to 3% on properties between 250,000 and 500,000; 4% on those over 500,000.

Company Taxes: Climate Change Levy cut by 0.7bn from introduction in April 2001.


Income Tax: Working Families Tax Credit, child premiums in income support and Children's Tax Credit increased.

ISAs: ISA limit extended to 7,000 a year until April 2006.

Excise Duties: Duties for ultra-low sulphur petrol cut by 2p and for ultra-low sulphur diesel cut by 3p. Tobacco duties increased with inflation; alcohol duties frozen.

Company Taxes: Abolition of withholding tax on intra-UK corporate interest.


Income Tax: Child Tax Credit introduced to replace various income-related payments for children. Working Tax Credit introduced for both families with and without children; Working Families Tax Credit (introduced in 1999) abolished.

National Insurance: Uncapped 1% increase in employer, employee and self-employed rates from April 2003 to fund increases in health spending.

Excise duties: Fuel duties frozen in cash terms.

Company Taxes: Small companies rate cut from 20% to 19%. Starting rate of corporation tax reduced from 10% to zero. Research and Development tax credit introduced for larger companies at 25% rate. Reform of North Sea oil taxation.


Income Tax: Basic rate personal allowance and earnings threshold and upper earnings limit on national insurance increased in line with inflation.

Excise duties: Fuel duties frozen in cash terms until 1 October 2003.

Children: Child Trust Fund announced.

2004 Budget

Spending: Broad spending totals for main departments set out ahead of Spending Review. Public spending to rise by 2.5% in real terms between 2006-8. Under Gershon Review, a 5% cut from cost of administration up to 2008, saving 20bn. Relocation of 20,000 civil service jobs out of London following the Lyons Review.

Excise duties: Duty on tobacco, wine and beer rises by inflation. Duty on spirits and cider frozen.

Pensions: A cap on pensions pots of 1.5bn.

Young people: Introduction of a new National Minimum Wage for 16 and 17-year-olds.


Pensioners: Council tax refunds rise from 50 to 200 per household, plus tax-free 200 winter allowance, rising to 300 for over 80s. A 13% hike in pensioner credit promised, with effect from 2008.

Families: Lone parents to receive a 2,000 return-to-work bonus. Paid maternity leave to rise to one year. 15 hours' free nursery available to working parents from 2007. Child Trust Fund payments extended to secondary school age.

Capital taxes: Stamp duty threshold doubled to 120,000. Increases in inheritance tax thresholds.

Excise duties: 1p rise on a pint of beer; duty frozen on spirits, cider and sparkling wine; cigarettes to rise 7p a packet.


Spending: A long-term aspiration to raise education spending per pupil in the state sector up to the level of the private sector.

Help for families: A 14% rise in the Child Tax Credit over the next three years; a rise in child benefit; an additional 500 in Child Trust Fund accounts at the age of seven; free further education up to A-level standard for anyone up to the age of 25.

Green taxes: Road tax cut for the least polluting vehicles and raised for the most expensive ones.

Capital taxes: An increase in the stamp duty threshold from 120,000 to 125,000 and the threshold for inheritance tax from 275,000 to 325,000.

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