UK Budget 2015 Live Blog - Yahoo Finance
Get the latest 2015 UK Budget news, analysis and comment as Chancellor George Osborne's speech happens on Yahoo Finance's LIVE blog.
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Here are the key points from George Osborne's Budget:
:: Personal tax-free allowance will be increased to £10,800 in April 2016, and to £11,000 in April 2017.
:: Beer duty to be cut for the third year running, with 1p off the price of a pint. Cider duty to be cut by 2%. Duty on scotch whisky and other spirits to be cut by 2%. Wine duty to be frozen.
:: Pension pot lifetime allowance to be reduced from £1.25m to £1m from next year.
:: National Minimum Wage will rise by 20p an hour to £6.70 from October.
:: Corporation tax to be cut to 20% in two weeks’ time.
:: A "Help to buy ISA" will be launched for first-time buyers. For every £200 saved for a deposit, the Government will top it up with £50.
:: A personal savings allowance to be launched, taking 95% of Britons out of savings tax altogether.
:: Fuel duty increase scheduled for September is cancelled.
:: Employers’ National Insurance contributions for under-21s to be abolished from this April, and for young apprentices from April 2016.
:: Class 2 National Insurance contributions for the self-employed to be abolished entirely in the next parliament.
:: Annual tax return to be abolished altogether.
:: North Sea oil industry to receive £1.3bn in support through four new measures.
:: Legislation next week on diverted profits tax aimed at multinationals shifting profits offshore, with policy to take effect at the start of April.
:: The Office for Budget Responsibility says Britain's economy grew by 2.6% last year.
:: Growth forecast for 2015 revised up by 0.1% to 2.5%, with unemployment set to fall by 0.1% from 5.4% to 5.3%.
:: OBR revises 2015 inflation forecast down to 0.2%.






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Enjoyed #askthechancellors...important Qs on housing, zero hours, Europe and business rates. @georgeosborne next time let's go head to headby Ed Balls via twitter 3/23/2015 5:24:57 PM
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. @George_Osborne and @edballsmp on @SkyNews - this is no substitute for a proper 3 way economy debate - let's get on with it! @LibDemPressby Danny Alexander via twitter 3/23/2015 4:10:58 PM
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Out canvassing in Cradlehall - lots of support for my campaign @scotlibdems http://pbs.twimg.com/media/CAoLUKRWgAA_xkc.jpg
by Danny Alexander via twitter 3/21/2015 2:26:25 PM -
2nd #Labourdoorstep - in Wrenthorpe with @RoryBickerton & Cllr Keith - again asking why George ducking head to head? http://pbs.twimg.com/media/CAnmI0nWoAAPZiN.jpg
by Ed Balls via twitter 3/21/2015 1:48:15 PM -
On the #labourdoorstep in East Ardsley this morning - voters all asking why George won't do a head-to-head debate.. http://pbs.twimg.com/media/CAnwCw9WYAAKD8g.jpg
by Ed Balls via twitter 3/21/2015 1:45:35 PM -
The NHS can’t afford the Tory cuts plan - launching our campaign poster with @andyburnhammp press.labour.org.uk/post/114122496… http://pbs.twimg.com/media/CAiSjhwUkAI3_LB.png
by Ed Balls via twitter 3/20/2015 11:19:59 AM -
Our NHS can't afford the Tory cuts plan: http://pbs.twimg.com/media/CAiSjhwUkAI3_LB.png
by Ed Balls via twitter 3/20/2015 11:18:51 AM -
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IFS says Budget means annual spending cuts after election twice as deep as we've seen in the last 5 yrs press.labour.org.uk/post/114054622…by Ed Balls via twitter 3/19/2015 6:06:25 PM
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If Tories want to spend election campaign telling people they've never had it so good they're completely out of touch press.labour.org.uk/post/114054622…by Ed Balls via twitter 3/19/2015 6:05:43 PM
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Looking forward to Sky Q&A - but disappointed George Osborne, like Cameron, running scared of head-to-head debate - despite our handshake!by Ed Balls via twitter 3/19/2015 5:48:31 PM
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by thenutmegteam via twitter retweeted by YahooFinanceUK 3/19/2015 1:11:57 PM
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What the Chancellor didn’t say #Budget2015 uk.finance.yahoo.com/news/budget-20… http://pbs.twimg.com/media/CAc-kJiW8AEhNb5.jpg
by Yahoo Finance UK via twitter 3/19/2015 10:14:56 AM -
Come on @edballsmp make my day - #letsshakeonit #economydebates bit.ly/1HZQ1zt @SkyNews @LibDemPressby Danny Alexander via twitter 3/18/2015 5:11:24 PM
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Help To Buy ISA: "More needs to be done to sort out supply" uk.finance.yahoo.com/news/help-to-b…by Yahoo Finance UK via twitter 3/18/2015 4:58:49 PM
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"The Chancellor has certainly done a good job of boosting demand – but now more needs to be done to sort out supply" uk.finance.yahoo.com/news/help-to-b…by Yahoo Finance UK via twitter 3/18/2015 4:57:23 PM
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Budget 2015: Death Of The Tax Return uk.finance.yahoo.com/news/uk-budget… http://pbs.twimg.com/media/CAZQ0DkWEAA8qhu.jpg
by Yahoo Finance UK via twitter 3/18/2015 4:56:09 PM -
Budget 2015: The Losers uk.finance.yahoo.com/news/uk-budget… #Budget2015 http://pbs.twimg.com/media/CAY8QaqWYAAKbzp.jpg
by Yahoo Finance UK via twitter 3/18/2015 3:26:20 PM -
Unfortunately neither Cons or Labs have done anything for me or my hubby over the years, its about time we had some new in and get rid of the old
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Oh God, I've watched this way too much already #Budget2015
by Felicity Morse via twitter 3/18/2015 2:10:16 PM -
The amount they have got the deficit down by is a LIE - they have reduced the deficit by 32 % not even one 1/3.
& don't be fooled by the average income or how much the economy has improved by per head either
What they never tell you is that these averages are made up by the huge amount of wealth the rich have at the top
It is the 60 % of wealth held in less than 1 % hands now I think
that makes the average income and amount figures look a LOT BETTER that the LYING CGANCELLOR uses for propaganda. -
Chancellor of the Exchequer George Osborne sits down after delivering his Budget statement to the House of Commons
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George Osborne was on his feet for 59 minutes, making this the longest Budget speech of this parliament - and of his career as chancellor.
Here's those figures again from previous Budgets
2010: 54 minutes
2011: 56 minutes
2012: 58 minutes
2013: 54 minutes
2014: 55 minutes
(source: Treasury/BBC) -
Mr Miliband said there would still be "extreme" cuts to public services in the next parliament.
He told MPs: "Their failure on the deficit means they are planning massive cuts in the next parliament, billions of pounds of cuts in the next parliament." -
Returning to the NHS during his response, Mr Miliband said it was a "glaring omission".
He said: "It was a completely extraordinary admission. Where was that discussion of the health service and public services? I think it is time we looked at the reality of this Government's spending plans because this is the Budget that can't be believed." -
#Budget2015 confirms the govt has failed at 1st purpose: eradicating deficit. Osborne can play games but he's doubled national debt.by Nigel Farage via twitter 3/18/2015 2:01:33 PM
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Addressing the Tory claim of "we're all in it together", Mr Miliband said: "The best thing you can say about the Chancellor and the Prime Minister is when the removal vans turn up, they will be in it together."
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Mr Miliband said: "Strangely absent from the Chancellor's statement - where was the action on stamp duty avoidance? It's costing well over a £1 billion a year.
"They cannot tackle hedge funds because they bankroll the Tory party. He can't act because they own him lock, stock and barrel, and the Conservative Party is just now a political wing of the tax avoidance industry." -
Mr Miliband said the gap between what the country owes and what it collects has increased rather than decreased. He said the Chancellor had not acted on tax havens - despite promises from the Prime Minister - HSBC or hedge funds.
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Last year, Osborne made optimistic job forecasts. This year, he smashed them. Pic (from small print of #Budget2015) http://pbs.twimg.com/media/CAYnzijWcAAOZK7.png
by frasernelson via twitter 3/18/2015 1:59:48 PM -
Everyone knows Osborne is completely in Nathanial Rotschilds pocket....
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He turned his attention to the North of England, adding: "Let's really test him out on whether he is a friend of the North - 75% bigger cuts to local government budgets in the North than the rest of the country."
He said 400,000 working families in the North West had seen their tax credits cut, adding: "That's more than any other region."
In the North East, he added, the Chancellor was spending £1 on transport for every £25 spent in London.
He said: "This Government is no friend of the North."