At-a-glance: Budget 2010 key points

Published 24th Mar 2010

Here are the key points of Chancellor Alistair Darling's 2010 Budget, the last one before the general election.

FUEL, CIGARETTES AND ALCOHOL DUTIES

3p fuel duty rise to be phased in in three stages between April and January 2011 rather than in one go next month

Cider duty to rise by 10% above inflation from midnight on Sunday

Wine, beer and spirit duties to rise by 2% from midnight on Sunday and further 2% rise planned for two years from 2013

Tobacco duty up 1% from midnight on Sunday and by 2% in real terms each year until 2014

HOUSING

Stamp Duty scrapped for homes below £250,000 for first-time buyers, but only for two years

Stamp duty on residential property sales over £1m to increase to 5% from April 2011

UK ECONOMY

Economy contracted 6% during the recession

Predicted growth of 1% to 1.25% in 2010, in line with forecasts

2011 growth forecast lowered from 3.5% to 3-3.5%

BORROWING

Borrowing this year forecast to be £167bn - £11bn lower than predicted in December

Borrowing to fall from £163bn in 2010-11 to £74bn by 2014-15

Public sector net debt to reach 54% of gross domestic product this year, increasing to 75% in 2014/15.

HELP FOR BUSINESS

£2.5bn package for small business to boost skills and innovation

One year business rate cut from October to help 500,000 companies

Investment allowance for small firms doubled to £100,000

Doubling relief on capital gains tax for entrepreneurs

No change to capital gains tax rates

£385m to maintain road network

BANK LENDING

One-off bank bonus tax has raised £2bn, double the amount forecast

Basic bank account guarantee for a million extra people

RBS and Lloyds Bank Group to provide £94bn in small business loans

Backs tax on bank transactions but on global basis

New service to adjudicate credit disputes

JOBS AND TRAINING

Six month work or training guarantee for under 24s extended to 2012

Amount of time over-65s must work to receive work credits reduced

OTHER TAXES AND ALLOWANCES

Tax allowances for those on over £100,000 gradually removed. No changes to allowances for everyone else.

Annual limits on Individual Savings Acounts (ISAs) will rise from £7,200 to £10,200 next month.

No changes to VAT or income tax planned

Inheritance tax threshold frozen for four years

Clampdown on tax avoidance to raise £500m

New tax agreements with Belize, Grenada and Dominica

GOVERNMENT SAVINGS

On track to achieve £11bn efficiency savings target

Reform of housing benefit to save £250m

15,000 civil servants to be relocated outside London

ENVIRONMENT

£2bn investment bank to back low-carbon industries such as offshore wind. Government to provide £1bn through asset sales

EDUCATION

Funding for 20,000 new university places in science and maths but institutions must make savings elsewhere

£35m enterprise fund to help university-launched businesses

PENSIONS AND BENEFITS

Winter fuel allowance rates extended for further year

£4 rise in child tax credit for parents with young children from 2012

Source: ' BBC '

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