Feeds

Brown's Budget: cuts basic rate

The man who would be king

Secure remote control for conventional and virtual desktops

Gordon Brown's last Budget speech laid out the achievements he claims to have made since 1997 and cut the basic rate of income tax from 22 pence in the pound to 20 pence.

The threshold for the top rate of income will increase in April 2009 to £43,000.

In a flamboyant performance Brown also cut the rate of mainstream corporate tax to 28 pence. Capital allowances will be simplified to just two categories depending on how long assets last.

Research and development credits are increased by £100m. Although tax on small businesses will increase, from 20p to 22p, Brown said that increased allowances for R&D and investment will effectively compensate them.

Environmental annoucements included a 50 per cent increase in microgeneration grants - sticking a windmill on your roof. There will be no stamp duty on carbon neutral houses up to a value of £500,000. Green products for domestic use will see VAT cut from 17.5 per cent to 5 per cent.

Business rate relief for empty properties will be cut.

Of more interest to many in Vulture Towers: 1 penny on a pint of beer, 5p for a bottle of wine, no increase in spirits but 11 pence on a packet of 20 cigarettes. Nicotine patches and other nicotine replacement products will have their VAT cut to five per cent.

Child benefit goes up in three stages to £20 a week in 2010 for the first child.

Counter terrorism gets an extra £86m and the armed forces get an extra £400m for committments in Afghanistan and Iraq.

Education will see five per cent rises for the next three years, from £60bn to £64bn next year.

Brown even found time for a gag. Referring to reports yesterday that he has a touch of the Stalin about him Brown said "I thank my forthright civil servants, who maybe I should call comrades..."

The speech will be available here, but isn't at the time of writing, in the meantime the Beeb summary is here.®

The essential guide to IT transformation

More from The Register

next story
Hello, police, El Reg here. Are we a bunch of terrorists now?
Do Brits risk arrest for watching beheading video nasty? We asked the fuzz
Detroit losing MILLIONS because it buys CHEAP BATTERIES – report
Man at hardware store was right: name brands DO last longer
Snowden on NSA's MonsterMind TERROR: It may trigger cyberwar
Plus: Syria's internet going down? That was a US cock-up
UK government accused of hiding TRUTH about Universal Credit fiasco
'Reset rating keeps secrets on one-dole-to-rule-them-all plan', say MPs
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
e-Borders fiasco: Brits stung for £224m after US IT giant sues UK govt
Defeat to Raytheon branded 'catastrophic result'
Yes, but what are your plans if a DRAGON attacks?
Local UK gov outs most ridiculous FoI requests...
EU justice chief blasts Google on 'right to be forgotten'
Don't pretend it's a freedom of speech issue – interim commish
Munich considers dumping Linux for ... GULP ... Windows!
Give a penguinista a hug, the Outlook's not good for open source's poster child
This'll end well: US govt says car-to-car jibber-jabber will SAVE lives
Department of Transportation starts cogs turning for another wireless comms standard
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.