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Item Details
| Title:
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PRE-BUDGET REPORT 2008
FACING GLOBAL CHALLENGES, SUPPORTING PEOPLE THROUGH DIFFICULT TIMES |
| By: |
Great Britain: Treasury |
| Format: |
Paperback |
| List price:
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£45.00 |
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We currently do not stock this item, please contact the publisher directly for
further information.
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| ISBN 10: |
0101748426 |
| ISBN 13: |
9780101748421 |
| Publisher: |
TSO |
| Pub. date: |
24 November, 2008 |
| Series: |
Cm. 7484 |
| Pages: |
234 |
| Synopsis: |
"The 2008 Pre-Budget Report" presents updated assessments and forecasts of the economy and public finances, and reports on how - in the face of major global economic shocks - the Government intends to support the economy, businesses and households through these uncertain times while delivering its long-term goals. Measures announced include: temporarily reducing the Value Added Tax (VAT) rate to 15 per cent from 1 December 2008 to 31 December 2009; bringing forward GBP 3 billion of capital spending from 2010-11 including introducing a green stimulus supporting low carbon growth and jobs; introducing a new additional higher rate of income tax of 45 per cent for those with incomes above GBP 150,000 from April 2011; increasing national insurance contributions by 0.5 per cent from April 2011; increasing alcohol and tobacco duties; and, a two pence per-litre increase in fuel duty from 1 December 2008.Immediate action to help those individuals and businesses most affected by the economic downturn includes: increases in the income tax personal allowance; bringing forward the increase in Child Benefit; increases of the Child Tax Credit and a payment of GBP 60 to all pensioners; help through mortgage rescue and Support for Mortgage Interest schemes for eligible homeowners in difficulty and a commitment from major mortgage lenders not to initiate repossession action within at least three months of an owner-occupier going into arrears; and, an additional GBP 1.3 billion support for the unemployed to find a new job. Immediate action also includes: measures to help small and medium-sized enterprises facing credit constraints; a new HMRC Business Payment Support Service to allow businesses in temporary financial difficulty to pay their HMRC tax bills on a timetable they can afford; and, more generous tax relief for businesses now making losses and the modification of a number of planned tax reforms, including: vehicle excise duty; air passenger duty; and, the deferral of the increase in the small companies' rate of corporation tax. |
| Illustrations: |
figs, tables |
| Publication: |
UK |
| Imprint: |
Stationery Office Books |
| Returns: |
Non-returnable |
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