Budget key points
* Tax credit payments to families earning more than £40,000 to be reduced.
* Health in pregnancy grant to be scrapped.
* Child benefits to be frozen for three years.
* Disability benefits to be reassessed from 2013.
* Housing benefit in “dire need of reform”. Maximum limits reduced to £400 a week for a house.
* National Insurance threshold rises by £21 next year.
* Corporation tax of 28% cut next year by 1% and each year afterwards to 24%.
* Planned tax relief for the video games industry cancelled.
* Bank levy introduced from January to generate £2 billion a year. France and Germany agree similar action.
* Green investment bank planned and investment in digital infrastructure.
* Planned landline duty to be abolished and private broadband expansion to be encouraged.
* National Insurance incentives to companies starting businesses outside South East and East.
* Government to commit to the upgrade of the Tyne and Wear Metro, extension of the Manchester Metrolink, redevelopment of Birmingham New Street station, improvements to the rail lines to Sheffield and between Liverpool and Leeds.
* VAT to rise to 20% from January 4.
* No new duty increase on tobacco, alcohol or fuel.
* Cider duty rise reversed.
* Council tax to be frozen for a year.
* “Unfair” capital gains tax reform: Higher rate taxpayers to pay 28% from midnight.
* The 10% CGT rate for entrepreneurs extended to the first £5 million of lifetime gain.
* Personal tax allowance raised to £7,475 from April 2011.
* Higher rate income tax threshold frozen.
* “Lasting help” for pensioners, with link to earnings restored from next April or a 2.5% rise, whatever is greater.
* Additional support for families in poverty. Child element of child tax credit increased by £150 above inflation.
Arena hopes to raise Fund £5k
5:01pm Friday 23rd July 2010
THE Arena Group’s Bolton office is pledging to donate thousands of pounds to the Big Bolton Fund, the local charity that provides grants for community and voluntary groups.
Manufacturer problems are on decrease
5:00pm Friday 23rd July 2010
THE results of the Manufacturing Advisory Service (MAS) North West’s first quarter research into the problems faced by manufacturers shows a marked change on previous quarters.
Nursery workers keep it in the firm
5:00pm Friday 23rd July 2010
NURSERY bosses are praying no more women will become pregnant — after 10 workers have either had babies or are expecting.
Company helps light up stores
4:59pm Friday 23rd July 2010
BOLTON-based Movetech UK is helping national lighting specialist Litecraft light up its stores by supplying ceiling- mounted revolves to attract attention to some of the most spectacular chandeliers.
‘Training will play vital role in recovery’
4:59pm Friday 23rd July 2010
TWO thirds of employers in the North West say that work-related education and training will play a vital role in the UK’s economic recovery.
Business response to the Budget
8:22am Wednesday 23rd June 2010
DR Brian Sloan, head of business and economic policy at Greater Manchester Chamber, said: “Given the scale of the task ahead of the government to reduce the deficit and debt, Bolton businesses will view this as a positive budget for the private sector.
Political reaction to the Budget
8:21am Wednesday 23rd June 2010
Cllr Cliff Morris, Labour and Bolton Council leader, said: “I am disappointed because this is going to hit the poorest people in society. I am not happy about the VAT increase, and there is no point in saying that they are to increase people’s personal tax allowance while increasing everything else. I don’t believe it when they said they didn’t know how bad the situation was, because everyone knew. In fact, the debt is not as big as we budgeted for.”
VAT to rise as welfare spending is slashed
8:08am Wednesday 23rd June 2010
Chancellor George Osborne delivered a VAT hike to 20 per cent and slashed welfare spending as he moved “decisively” to tackle Britain’s record debts.
Chancellor promises to balance Britain’s books
12:59pm Tuesday 22nd June 2010
Chancellor George Osborne promised to to balance Britain’s books within five years as he used today’s emergency Budget to rip into the inheritance left by Labour.
Chancellor delivers first Budget
12:54pm Tuesday 22nd June 2010
Chancellor George Osborne has delivered his first Budget in the House of Commons.
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