George Osborne's : 2013 Budget

by liamssoft | March 20, 2013 at 06:06 am

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Nigel Farage responds to Osborne's budget: "We're still borrowing 100 Bil more than we're earning"

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Nigel Farage responds to Osborne's budget: "We're still borrowing 100 Bil more than we're earning"

The chancellor extended the 1% public sector pay cap by one year to 2015/16 but Service personnel to be exempt from public sector 1% pay rise cap.

He used his Budget to cut corporation tax by 1% to 20%, and cancelled this autumn's planned fuel duty rise.

He also scrapped above inflation alcohol duty rises and cut the price of a pint of beer by 1p.

He unveiled a raft of measures aimed at boosting new businesses, including tax credits for research, and new measures to clamp down on tax avoidance.

And he announced plans to extend shared-equity schemes to help people get on the housing ladder and plans to encourage more "affordable" homes to be built.

But he did announce £3bn of spending on infrastructure paid for by a further squeeze on public spending. Details of where the axe will fall will come in June when the government unveils its spending review.

In an attempt to show he is on the side of "hard working voters", he speeded up progress towards a £10,000 tax free personal allowance by next year.

Ahead of the Budget the government announced plans for some parents in the UK to be able to claim back up to £1,200 a year for each child - or 20% of childcare costs - from 2015.

Mr Cameron said the plans, expected to cost £1.4bn, would be a "boost direct to the pockets of hard-working families" but it has been criticised in sections of the press for penalising stay-at-home parents.

The first £2,000 to be taken off all employers' National Insurance bill

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Budget 2013: how it affects you