BUDGET 2014: Budget full of popular plans

Daily Echo: George Osborne George Osborne

IT was an announcement that will see savers, beer drinkers and bingo players raising a collective glass.

And motorists, pensioners and businesses all have reasons to be cheerful after George Osborne unveiled his latest Budget.

The Conservative Chancellor pledged to share the benefits of economic recovery as he announced radical reforms to tax rules on retirement pots.

And he unveiled new-style flexibile ISA savings where people can squirrel away up to £15,000 a year without the Treasury taking a cut.

He also pushed up the personal income tax allowance from £10,000 to £10,500 next year – meaning average basic rate tax payers will be making savings of around £800 compared with four years ago.

A penny was knocked off a pint of beer in a move welcomed by brewers, pubs and drinkers while tobacco duty is set to rise by two per cent above inflation.

In a boost for motorists, the Chancellor announced that the planned September fuel duty rise will not take place.

But he resisted calls to make cuts to duty – much to the disappointment of some campaign groups.

The AA said the freeze on duty, for a fourth year, was a “very welcome relief for UK drivers”.

But AA president Edmund King went on: “The freeze still leaves the squeeze on families and businesses that rely on four wheels to function and prosper.”

Mr Osborne said duty on bingo halls would be cut by more than anticipated – from 20p to 10p.

But fixed odds betting terminals will be hit with 25 per cent rates in recognition of their addictiveness to gamblers.

He also announced that following the severe winter weather, he was making an extra £200m available to local authorities to repair potholes and an additional £140m made available for repairs and maintenance to flood defences.

Air ambulance services were handed a fuel tax break which means more money can be ploughed into patient care.

Up to £20m will be made available for renovations at cathedrals across the nation in the anniversary year of the First World War – a move welcomed by bosses at Winchester Cathedral.

Promising to help pensioners who have suffered five years of record low interest rates, Mr Osborne also unveiled a new savings bond for those aged 65 and over.

Pensioner savings bonds will launch next January and are expected to pay out interest of 2.8 per cent over one year and four per cent over three years.

Offered through National Savings & Investments (NS&I), the maximum amount that can be invested in each bond will be set at £10,000.

Mr Osborne also said the ten per cent starting rate for savings income will be axed altogether to support the lowest earners, while NS&I premium bond limits will also be raised from £30,000 to £40,000 this year and £50,000 next year.

He also froze the “carbon floor” price in a bid to take £15 off consumers’ energy bills.Meanwhile, in a widely anticipated move, the £1 coin will also be replaced by a new model based on the old threepenny bit as part of a bid to scupper sophisticated counterfeiters.

Announcing his budget yesterday lunchtime, the Chancellor said: “The message from this Budget is: you have earned it; you have saved it; and this Government is on your side, whether you’re on a low or middle income, whether you’re saving for your home, for your family or for your retirement.

“The forecasts I’ve presented show growth up; jobs up; and the deficit down.

“With the help of the British people we’re turning our country around. We’re building a resilient economy.

“This is a Budget for the makers, the doers, and the savers.”

But Labour leader Ed Miliband responded: “The Chancellor spoke for nearly an hour but he did not mention one central fact: the working people of Britain are worse off under the Conservatives.”

Comments (9)

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1:01pm Thu 20 Mar 14

OSPREYSAINT says...

Just been watching Daily Politics on BBC 2, and what really gets up my nose is Andrew Neill when he asks a guest a question and the moment they start to answer he starts shouting over the top of what the person is saying, whereupon other guests start babbling on as well, ending up in a meaningless racket where you cannot understand a word that is being said.
What ever happened to manners and etiquet where the persons is allowed to make their statement and a counter argument is then allowed to be made?
Just been watching Daily Politics on BBC 2, and what really gets up my nose is Andrew Neill when he asks a guest a question and the moment they start to answer he starts shouting over the top of what the person is saying, whereupon other guests start babbling on as well, ending up in a meaningless racket where you cannot understand a word that is being said. What ever happened to manners and etiquet where the persons is allowed to make their statement and a counter argument is then allowed to be made? OSPREYSAINT
  • Score: 3

1:30pm Thu 20 Mar 14

B. L. says...

OSPREYSAINT wrote:
Just been watching Daily Politics on BBC 2, and what really gets up my nose is Andrew Neill when he asks a guest a question and the moment they start to answer he starts shouting over the top of what the person is saying, whereupon other guests start babbling on as well, ending up in a meaningless racket where you cannot understand a word that is being said.
What ever happened to manners and etiquet where the persons is allowed to make their statement and a counter argument is then allowed to be made?
Probably set by the example of the chimpanzee's tea party, commonly called both sides of the House of Commons. :)
[quote][p][bold]OSPREYSAINT[/bold] wrote: Just been watching Daily Politics on BBC 2, and what really gets up my nose is Andrew Neill when he asks a guest a question and the moment they start to answer he starts shouting over the top of what the person is saying, whereupon other guests start babbling on as well, ending up in a meaningless racket where you cannot understand a word that is being said. What ever happened to manners and etiquet where the persons is allowed to make their statement and a counter argument is then allowed to be made?[/p][/quote]Probably set by the example of the chimpanzee's tea party, commonly called both sides of the House of Commons. :) B. L.
  • Score: 3

1:35pm Thu 20 Mar 14

OSPREYSAINT says...

B. L. wrote:
OSPREYSAINT wrote:
Just been watching Daily Politics on BBC 2, and what really gets up my nose is Andrew Neill when he asks a guest a question and the moment they start to answer he starts shouting over the top of what the person is saying, whereupon other guests start babbling on as well, ending up in a meaningless racket where you cannot understand a word that is being said.
What ever happened to manners and etiquet where the persons is allowed to make their statement and a counter argument is then allowed to be made?
Probably set by the example of the chimpanzee's tea party, commonly called both sides of the House of Commons. :)
Question Time has been much the same recently, Poor Chairmanship leads to a complete babble and the same problem, I believe in freedom of speech but it is much better when you can actually hear what is being said. PMQ's is just as bad.
[quote][p][bold]B. L.[/bold] wrote: [quote][p][bold]OSPREYSAINT[/bold] wrote: Just been watching Daily Politics on BBC 2, and what really gets up my nose is Andrew Neill when he asks a guest a question and the moment they start to answer he starts shouting over the top of what the person is saying, whereupon other guests start babbling on as well, ending up in a meaningless racket where you cannot understand a word that is being said. What ever happened to manners and etiquet where the persons is allowed to make their statement and a counter argument is then allowed to be made?[/p][/quote]Probably set by the example of the chimpanzee's tea party, commonly called both sides of the House of Commons. :)[/p][/quote]Question Time has been much the same recently, Poor Chairmanship leads to a complete babble and the same problem, I believe in freedom of speech but it is much better when you can actually hear what is being said. PMQ's is just as bad. OSPREYSAINT
  • Score: 2

1:41pm Thu 20 Mar 14

good-gosh says...

Can't please everyone. Some don’t like high employment, lower deficit, improved economy. It makes their existence redundant.
Can't please everyone. Some don’t like high employment, lower deficit, improved economy. It makes their existence redundant. good-gosh
  • Score: -7

2:18pm Thu 20 Mar 14

OSPREYSAINT says...

good-gosh wrote:
Can't please everyone. Some don’t like high employment, lower deficit, improved economy. It makes their existence redundant.
Especially if they are made redundant.
[quote][p][bold]good-gosh[/bold] wrote: Can't please everyone. Some don’t like high employment, lower deficit, improved economy. It makes their existence redundant.[/p][/quote]Especially if they are made redundant. OSPREYSAINT
  • Score: 2

3:41pm Thu 20 Mar 14

KSO16R says...

Lucky old you if you play bingo but if you like a beer you are going to have to drink a hundred pints to save a pound. The tories are laughing at you.
Lucky old you if you play bingo but if you like a beer you are going to have to drink a hundred pints to save a pound. The tories are laughing at you. KSO16R
  • Score: 1

3:47pm Thu 20 Mar 14

KSO16R says...

Lucky old you if you play bingo but if you like a beer you are going to have to drink a hundred pints to save a pound. Also, it doesnt matter how much you save, if there is anything left after the bills, with low interest rates from the banks you loose money after inflation. The tories are laughing at you.
Lucky old you if you play bingo but if you like a beer you are going to have to drink a hundred pints to save a pound. Also, it doesnt matter how much you save, if there is anything left after the bills, with low interest rates from the banks you loose money after inflation. The tories are laughing at you. KSO16R
  • Score: 0

5:54am Fri 21 Mar 14

skeptik says...

When high unemployment was necessary for the economy - not a word said, new cars, holidays abroad, latest gadgets, house prices (not values) going through the roof - hooray, we could not care less about the unemployed they were part of the economic miracle. John Major put unemployed on the sick list just in case folk worried about the jobless. When the bubble burst the unemployed got the blame - not mismanagement by government, not unrestricted banking - no the unemployed! Spend a moment looking at the recessions since WW2 and who was in power when the occurred.
When high unemployment was necessary for the economy - not a word said, new cars, holidays abroad, latest gadgets, house prices (not values) going through the roof - hooray, we could not care less about the unemployed they were part of the economic miracle. John Major put unemployed on the sick list just in case folk worried about the jobless. When the bubble burst the unemployed got the blame - not mismanagement by government, not unrestricted banking - no the unemployed! Spend a moment looking at the recessions since WW2 and who was in power when the occurred. skeptik
  • Score: 0

8:05am Fri 21 Mar 14

miltonarcher says...

KSO16R wrote:
Lucky old you if you play bingo but if you like a beer you are going to have to drink a hundred pints to save a pound. Also, it doesnt matter how much you save, if there is anything left after the bills, with low interest rates from the banks you loose money after inflation. The tories are laughing at you.
You just don't get it do you. What really gets up your nose is how this coalition has turned things round after the shambles of the last Labour government . If you really want a laugh give Balls the keys to number 11. Remember the note left by that labour minister for the incoming administration? "Good luck, there is no money"
[quote][p][bold]KSO16R[/bold] wrote: Lucky old you if you play bingo but if you like a beer you are going to have to drink a hundred pints to save a pound. Also, it doesnt matter how much you save, if there is anything left after the bills, with low interest rates from the banks you loose money after inflation. The tories are laughing at you.[/p][/quote]You just don't get it do you. What really gets up your nose is how this coalition has turned things round after the shambles of the last Labour government . If you really want a laugh give Balls the keys to number 11. Remember the note left by that labour minister for the incoming administration? "Good luck, there is no money" miltonarcher
  • Score: 1

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