Chancellor George Osborne delivered his 2011 Budget statement on Wednesday. We don't want to bore you with all the facts but here are the main points that we feel are relevant:
- Hutton recommendations on public sector accepted
- Annual growth forecast revised down from 2.1% to 1.7% in 2012
- Inflation expected to remain at 4.5% this year, 2.5% next year & 2% the following year
- Borrowing forecast to fall from £146bn this year to £29bn in 2015/16
- £250m shared equity scheme for first time buyers
- Single-tier flat-rate state pension to be created, expected to be about £140 a week
- £350m worth of regulation on businesses to be removed
- Relief for entrepreneur tax doubled to £10m
- Personal tax allowance to rise from £7,475 to more than £8,105 in April 2012
Next week we will delve further into a couple of the points raised and explain how they will affect you in the future!
If you would like advice on any of the points we have raised then call 0871 271 1280 to speak to one of our experienced staff members.
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