As you’re probably aware, Gordon Brown has delivered his 10th budget today, some believing it to be his last before he becomes Prime Minister.
As with most budgets, it’s often hard to tell quite what this budget will mean for the man on the street.
The BBC has a run-down of the main points, the highlights of which are:
- The personal tax allowance rises from Â£4,895 to Â£5,035.
- Child Trust Funds to get an extra Â£250, or Â£750 when the children reaches seven-years-old.
- Child care vouchers to increase by Â£5 a week by Â£55.
- The cost of a pack of cigarettes will rise by 9p.
- There will be 4p extra tax on a bottle of wine.
- 1p extra tax on a pint of beer.
- Free off-peak national bus travel for pensioners and disabled people from April 2008
- The Inheritance Tax threshold will rise to Â£325,000 (from Â£275,000).
- Zero tax on cars giving out low emissions, then rates of Â£40, Â£100, Â£125, Â£150, Â£190 up to Â£210 for the “most-polluting” cars.
- Stamp duty threshold raised Â£5,000 to Â£125,000.
There’s also plenty more coverage of the budget elsewhere:
- Brown hails ‘budget for schools’ at the BBC.
- BBC Political editor Nick Robinson’s view of the budget.
- Brown targets polluting vehicles at the BBC.
- Budget 2006 – Impact