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Budget 2008
Here is are some highlights from the 2008 Budget.
Housing:
Sites for 70,000 more houses has been identified
Teachers & Nurses able to borrow from shared equity schemes
Encouraging the chance for long term fixed mortgages
Stamp duty on shared ownership homes not required until 80% owned
Savings:
Government to launch the 'Savings Gateway' nationally in 2010
Cash ISA limit to £3,600 per year as of April
Cars & Fuel:
2p increase in fuel in October 2008
Fuel duty to rise by 0.5p per litre in real terms in 2010
Funding set aside for road pricing proposals
Lowest poluting new cars from 2010 will pay no road tax in first year, higher will pay more.
Alcohol & Cigarettes:
Beer up by 4p per pint
Wine up by 14p per bottle
Spirits up by 44p per bottle
Cider up by 3p per litre
Alcohol duties to go up by 2% above inflation for next four years
Cigarettes up by 11p per 20 packet
Cigars up by 4p per 5 packet
Pensioners:
Increased winter fuel allowance now £250 for over 60s and £400 for over 80s
Benefits:
From April 2009, child benefits increased by £20
From October 2009, families who are on benefits will be better off in work
From April 2010, those on long-term incapacity benefits will attend work capacity programmes
Environment:
Plastic bags to be taxed in 2009 if shops don't do enough to minimize their use
£26m to make homes greener
European Commission asked for tougher targets on car fuel emission
Education:
£200m extra for schools to raise GCSE results
£30m to improve science teaching
Poverty:
Energy companies should spend £150m on social tarrifs
£17 more per week to poor families with one child
£125m more to be spent over next three years to help families
Armed Forces:
£2bn to be spent on troops in frontline including £900m on military equipment
Public Services:
Spending on Government departments must be matched by reform
Focus for NHS is creating 'world-class services'
Tags:
budget 2008
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