Page last updated at 14:24 GMT, Wednesday, 9 December 2009

Key points: The pre-Budget report at-a-glance

A summary of the key announcements in Alistair Darling's pre-Budget report.

TAX
  • All national insurance rates to rise by a further 0.5% from April 2011, raising £3bn a year
  • VAT to return to 17.5% from 15% from 1 January 2010. No other changes to VAT
  • One-off 50% tax on bank bonuses of more than £25,000
  • Stamp duty holiday on certain properties to end on 1 January 2010
  • Bingo duty to be cut from 22% to 20%

ECONOMIC FORECASTS
  • Economy forecast to shrink 4.75% in 2009, worse than 3.5% forecast in April
  • Growth of 1%-1.5% expected in 2010 and 3.5% in 2011 and 2012

BORROWING

• 2009 forecast raised by £3bn to £178bn

  • Estimated borrowing of £176bn in 2010 and £140bn in 2011, falling to £96bn in 2013
  • Budget deficit to be halved by 2013
  • Estimated public loss from bank bailouts reduced from £50bn to £10bn

SPENDING

  • Total spending in 2010-11 to rise by £31bn.
  • No spending review for period after that
  • Current spending estimated to fall by 0.8% between 2011-2 and 2014-5

PAY, PENSIONS AND BENEFITS
  • Basic state pension will rise by 2.5% in April 2010
  • Child and disability benefit to rise by 1.5% in 2010
  • Contributions to public sector pensions to be cut by £1bn a year
  • All public sector pay settlements to be capped at 1% for two years from 2011

ENVIRONMENT
  • £160m investment in low-carbon and renewable projects
  • £200m extra investment for Warm Front insulation scheme, helping 65,000 households
  • Boiler scrappage scheme for 125,000 households
  • Electric cars to be exempt from company car tax for five years
  • Tax rebate for installation of wind turbines and solar panels

EMPLOYMENT
  • Under-24s to be guaranteed work or training after six months out of work
  • Training or education guarantee for 16 and 17-year-old to be extended to 2010

BUSINESS
  • New 50p tax on landline phones to pay for superfast broadband
  • New 10% tax on income from patents to boost science development
  • 1p increase in corporation tax for small firms to be deferred

FAMILIES
  • Free school meals to an extra 500,000 low income families


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