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Tuesday, March 9, 1999 Published at 20:15 GMT  Events: Budget 98: BUDGET NEWS
The Chancellor of the Exchequer, Gordon Brown, has put families and incentives to work at the centre of what he called a "revolutionary" Budget. Hague: 'betrayal', Ashdown: 'not bad' Conservative Leader William Hague has said Gordon Brown's Budget is a betrayal, while Liberal Democrat Leader Paddy Ashdown said it could turn out to be rather good in the long term. Working families to get tax credit In a radical change, poor families will get a tax credit instead of Family Credit as a benefit. Spotlight on child care costs The Chancellor introduced measures to help couples pay for child care, and increased levels of Child Benefit. Boost for health, education and transport The Chancellor has promised extra money for the National Health Service, public transport and education. Cigarettes up, spirits frozen Smokers are hit in the pocket with plans to raise the cost of cigarettes by 20p a packet - but beer drinkers will only have to find an extra 1p for a pint. 10p rate 'when time is right' A 10p rate of income tax will be introduced when it is right for the economy, the Chancellor, Gordon Brown, said in his Budget statement. National Insurance cut The Chancellor has cut national insurance for all and announced an extra £100m to tackle the skills gap. Britain to be 'best place to invest' Gordon Brown said changes he proposed to the tax system would help make Britain "the best place in the world for people to invest". Green light for transport Public transport will be helped, while private motorists face increased petrol prices. Government finances to balance by 2000 Long-term economic strength and stability are key goals of the Budget. Benefitting families Child benefit will not be taxed and family payments are to rise from next year, but mortgage tax relief and the married couple's alllowance face the axe.
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