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Joined: 09/03/2008

Deficit Reducton - Public Sector Net Borrowing £90.2bn.  Thats a 41% decrease o 2010 in cash terms and a 51% decrease in GDP terms. Note the Chancellor no longer talks about the 'defict' in cash terms, simply as he has not managed to cut it by half let alone completely. Source. March 2015 Economic and fiscal outlook, Executive summary. Page 2 1.8.<

It is worth noting that, with a change of government in May 2015. This budget can be changed entirely.  The next oppourtunity would normally be the "Autumn Statement".

- £30bn consolidation (cuts) in 2016/17 & 2017/18 with further aspiration for £10bn more. 

- Increase in Personal Tax Allowance up to £10800 2016/17, £11,000 2017/18. 

- Threshold for high-rate tax payers increased to £42,700 2016/14 and £43,000 2017/18.

- New Personal Savings Allowance. £1000 in interest tax free.

- £21bn in Welfare cuts 2010 to period 2015/16.

- Productivity remains "Poor" and a long-term issue for the UK. 

- Introduction of Apprenticeship voucher system from 2017.

- Minimum wage up to £6.70 from October 2015.

- More Flexible ISA's

- 'Help to buy' ISA

- Extension of 65+ bonds to 15th May 2015

- Premium Bonds maximum investment up to £50,000 1st June 2015.

- Changes to Inheritance Tax for Emergancy Services Personnel and humanitarian aid workers.

- Changes to allow those penioners with an annuity to sell.

- £1.25 billion more for Mental Health. More money for Perinatal, Children's & young people & Veterans Mental Health.

- Alterations to Survivors pensions for emergency service employees.

- Integrating services for people with multiple-needs.

- Online Cognitive Behavioural Therapy (CBT) for JSA & ESA claimants, where required (40,000) from early 2016.

- Co-locating Improving Acess to Psychological Therapies (IAPT) in JobCentres. From Summer 2015.

- 53% of disabled people out of work. On each financial Quarter one economically-inactive disabled person in 100 moves into work.

- A commitment to consider options for Homeless Families to support long term investment in Private Rented Acomodation.

- Blind Persons, Married couples tax allowances to rise by RPI in 2015/16

- Change in tax relief as it is used by Employment Intermediaries.


£15m from 2015/16 to 2017/18 in greater use of DWP of Real Time Information to detect Fraud and Error in Pensions and Housing Benefit.

Restriction from 2015 to Universal Credit for EEA nationals.

Implement 7 waiting days for Universal Credit in July 2015.

Taxation of Bereavement Support Payment (BSP) to be tax exempt.

New testing regime for those accessing Working Tax Credits for the self-employed.


Plan to abolish Annual Tax Return. Move most tax online. Payment at anytime throughout year.