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EDITIONS
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 land

    Education 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


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    See also:

    06 Nov 00 | Business
    10 Oct 00 | Business
    07 Nov 00 | UK Politics
    07 Nov 00 | Business
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