Autumn statement 2011
Tuesday 29 November 2011
As it happens
Of course, we we already know a lot of what will be announced. But, the details...
Pensions credit uprated by £5.35 (but rise in threshold for savings credit)
Working age benefits up 5.2% - inflation
WTC - child element up by inflation, but not other elements.
Pension age from 66 to 67 brought forward to 2026.
£40bn to underwrite loans to SMEs.
After the public sector pay freeze is over, pay will still only rise by 15 for following two years.
Social housing tenants to get 50% discount on purchase.
Mortgage help for first time buyers
Bank levy increase to ensure £2.5bn raised.
Spending on infrastructure.
£50 cut in South West Water bills; Humber Bridge toll halved (!?)
Extra £1bn to Regional Growth Fund; half bn to hi-tech.
New R&D credit from 2013.
From April 2012, £100,000 invested in start-up business gets tax relief at 50%. (Funded by freezing CGT threshold.) No tax on gains made in 2012-13 reinvested in these businesses.
Tax & NI to be merged?
Small firms business rates relief extended to April 2013
Youth employment scheme, as foretold.
Childcare help for poorest, as reported.
Rail fare increases capped at 1% over inflation.
3p January fuel duty increase scrapped.