Budget 2013 headlines (in 140 characters or less)

With Budget 2013 being announced yesterday, we live-tweeted the top headlines to come out of George Osborne’s speech. Below are the top headlines to come out of the Budget, in 140 characters or less.

If you’re not sure about how Budget 2013 affects you or your business, you can get in touch with Darrell in our Tax team or fix a meeting to talk about your options.

Osborne – “Despite the progress we’ve made, there’s still much to do” #Budget2013

Osborne – “It is a Budget for our aspiration nation,” #Budget2013

Osborne – “The problems in Cyprus are further evidence that the crisis is not over” #Budget2013

Osborne – “0.6% growth forecast for this year by the OBR” #Budget2013

Growth forecasts – 1.8% 2014, 2.3% in 2015, 2.7% in 2016, 2.8% in 2017 #Budget2013

OBR expects 600,000 more jobs in 2013 #Budget2013

Osborne – “The government is forecast to borrow £114bn this year – less than previous government” #Budget2013

Osborne says the Office for Budget Responsibility says the government is on course to meet fiscal mandate one year early #Budget2013

Debt forecasts: 75.9% of GDP in 2012/13 and 79.2% in 2013/14 #Budget2013

Osborne – “Asset Purchase Facility will remain in place for coming year” #Budget2013

Osborne – “Updated MPC remit reafirms inflation target of 2%” #Budget2013

Osborne – “Government departments to under-spend budgets by £11bn this year” #Budget2013

Schools and health budgets to be ringfenced #Budget2013

Osborne – “Government will seek £11.5bn of current savings in the Spending Review” #Budget2013

Public sector pay increases will be limited to 1% in 2015/16 #Budget2013

£745bn will be the total amount of managed expenditure for 2015/16 #Budget2013

Military will be exempt from the 1% pay cap on public sector workers to recognise their work #Budget2013

LIBOR banking fines money used to help combat stress in veterans #Budge2013

Osborne – “New limit on Annually Managed Expenditure to be introduced at Spending Review” #Budget2013

The UK is building the most competitive tax system in the world, according to the chancellor #Budget2013

The chancellor promises to boost infrastructure spending by £3bn in 2015/16 #Budget2013

Osborne – “I accept Michael Heseltine’s excellent idea of a single competitive pot of funding for local enterprise” #Budget2013

New tax reliefs for the creative industries like high-end television and animation #Budget2013

“We’ll increase by fivefold the value of government procurement budgets spent through the Small Business Research Initiative” #Budget2013

George Osborne says he’s introducing capital gains tax relief for sales of businesses to their employees #Budget2013

Size of the loans that employers can offer tax-free to pay for items such as season tickets for commuters to double to £10,000 #Budget2013

Osborne – “Research and development is absolutely central to Britain’s economic future” #Budget2013

Osborne – “Britain is open for business” #Budget2013

Corporation tax rate reduced to 20% from April 2015 #Budget2013

Osborne – “Too many people were allowed to get away with tax avoidance” #Budget2013

The government will name and shame companies who promote themselves as tax avoiders #Budget2013

Osborne -“New tax-free childcare vouchers for working families: 20% off the first £6,000 of your childcare costs for each child” #Budget2013

The flat-rate pension will be brought forward to 2016 #Budget2013

Extra money will also be made available for Equitable Life policy holders #Budget2013

Osborne announces help to buy homes, proposing two components… #Budget2013

£3.5bn in capital spending over three years to shared equity loans #Budget2013

…and up to 20% of a loan to be offered to people looking to move up the ladder #Budget2013

Sept’s increase in fuel duty cancelled. Petrol will be 13p a litre cheaper than if he had not frozen the duty over the last 2yrs #Budget2013

Chancellor scraps above-inflation rise in beer duty and takes a penny off the price of a pint #PennyOffThePint #Budget2013

Income tax personal allowance raised to £10,000 from April 2014 #Budget2013

Osborne – “Raising income tax threshold will mean means £700 less paid by working families” #Budget2013

The first £2,000 taken off national insurance paid by every company #Budget2013

NI changes means that 450,000 small businesses (a third of all employers in the country) will pay no jobs tax at all #Budget2013

“This is a Budget that doesn’t duck our nations problems. It confronts them head on. It’s a Budget for an aspiration nation.” #Budget2013

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