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PDF version Read all the official documents from Alistair Darling's 2010 Budget report in PDF form.
COMPLETE BUDGET DOCUMENTS
BUDGET SPEECH
CHAPTERS
APPENDICES
SUPPORTING DOCUMENTS
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Here are the key points of Chancellor Alistair Darling's 2010 Budget, the last one before the general election.
3p fuel duty rise to be phased in
in three stages between April and January 2011 rather than in one go next month
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COMPLETE BUDGET DOCUMENTS
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Cider duty to rise by 10% above inflation from midnight on Sunday
Wine, beer and spirit duties to rise by 2% from midnight on Sunday and further 2% rise planned for two years from 2013
Tobacco duty up 1% from midnight on Sunday and by 2% in real terms each year until 2014
below £250,000 for first-time buyers, but only for two years
Stamp duty on residential property sales over £1m to increase to 5% from April 2011
Economy contracted 6% during the recession
Predicted growth of 1% to 1.25% in 2010, in line with forecasts
2011 growth forecast lowered from 3.5% to 3-3.5%
Borrowing this year forecast to be £167bn
- £11bn lower than predicted in December
Borrowing to fall from £163bn in 2010-11 to £74bn by 2014-15
Public sector net debt to reach 54% of gross domestic product this year, increasing to 75% in 2014/15.
£2.5bn package for small business to boost skills and innovation
One year business rate cut from October to help 500,000 companies
Investment allowance for small firms doubled to £100,000
Doubling relief on capital gains tax for entrepreneurs
No change to capital gains tax rates
£385m to maintain road network
One-off bank bonus tax has raised £2bn, double the amount forecast
Basic bank account guarantee for a million extra people
RBS and Lloyds Bank Group to provide £94bn in small business loans
Backs tax on bank transactions but on global basis
New service to adjudicate credit disputes
Six month work or training guarantee for under 24s extended to 2012
Amount of time over-65s must work to receive work credits reduced
Tax allowances for those on over £100,000 gradually removed. No changes to allowances for everyone else.
Annual limits on Individual Savings Acounts (ISAs) will rise from £7,200 to £10,200 next month.
No changes to VAT or income tax planned
Inheritance tax threshold frozen for four years
Clampdown on tax avoidance to raise £500m
New tax agreements with Belize, Grenada and Dominica
On track to achieve £11bn efficiency savings target
Reform of housing benefit to save £250m
15,000 civil servants to be relocated outside London
£2bn investment bank to back low-carbon industries such as offshore wind. Government to provide £1bn through asset sales
Funding for
in science and maths but institutions must make savings elsewhere
£35m enterprise fund to help university-launched businesses
Winter fuel allowance rates extended for further year
£4 rise in child tax credit for parents with young children from 2012
Today the Department for Work and Pensions announces that it will deliver £350m of savings, as part of £11bn savings across Government which will contribute towards halving the deficit over four years while protecting frontline services.
The Budget has reaffirmed the Government's commitment to making £11bn of savings a year by 2012/13 from efficiency and streamlining the centre of Government. Departments are setting out their contributions to these savings.
The £11bn of savings will contribute to halving net borrowing and protecting key public services. The savings will come following the work of the Operational Efficiency Programme and Putting the Frontline First: Smarter Government.
DWP will meet its commitment through a range of activities, including:
- £40 million of savings in its property costs including using benchmarking to identify and improve utilisation in its property costs, including its estate;
- £180m through getting better value out of our major contracts, including our IT contracts, primarily by working more closely with our suppliers and by reducing demand;
- reducing the size of our Senior Civil Service and streamlining our support services.
DWP has also committed to making an additional £200m of savings through delivering benefits more efficiently as part of the Public Value Programme, bringing total savings from DWP to £550m.
The Department outlined its record on making savings to date, and its priorities for the future, earlier this week in a document 'Delivering More for Less – the Efficiency Programme of the DWP'.
Notes to Editors
- PBR 2009 announced that £11bn savings would be delivered by 2012/13 from Operational Efficiency Review conclusions and from Putting the Frontline First: Smarter Government.
- Today's Budget announces examples of how departments will deliver savings will come from £8bn Operational Efficiencies; £0.5bn reforms to Arms Length Bodies; over £650m from reducing spend on marketing, communication and consultancy budgets; £0.5bn from reducing spend on IT programmes; £0.3bn from reducing spend on energy; and, £0.14bn from reducing spend on the senior civil service and reducing days lost to sickness.
- These savings will contribute towards reducing borrowing and protecting frontline priorities.
- The Department is also making changes to improve its service and save money through launching a new bereavement service which will mean more customers needing only one contact with the Department, allowing them to get all the information they need on benefits and help with funeral costs in one place; expanding our online services so people can claim their pension or Jobseeker's Allowance online, using our workspace and IT resources more flexibly, taking further action to reduce fraud and error in the benefit system and recover debt from overpayments, reducing the amount of office space we use, reducing spend on consultants and improving procurement.
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Every working day our staff:
- take an average of 10,000 new job vacancies
- help around 5,000 people move into work
- receive over 85,000 calls to Jobcentre Plus contact centres
- pay 3 million customers over £50million every day
- receive around 1.1 million job searches for Jobcentre Plus vacancies using the Jobcentre Plus and Directgov websites
- DWP has saved a total of £1,446 million through efficiency savings up to March 2008.
http://www.dwp.gov.uk/newsroom/press-releases/2010/march-2010/dwp053-10-...
http://news.parliament.uk/2010/03/budget-2010-statement/