The Register® — Biting the hand that feeds IT

Feeds

Brown's Budget: cuts basic rate

The man who would be king

What you need to know about cloud backup

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.®

Agentless Backup is Not a Myth

More from The Register

SCO vs. IBM battle resumes over ownership of Unix
Zombie lawsuit back and wants to suck the brains out of Linux
 breaking news
NSA whistleblower to tech firms, Obama: 'Grow a pair!'
Ed Snowden: Email tracking grabs 'IPs, raw data, content, headers, attachments, everything'
 breaking news
Ecuador: All right, Julian, you CAN stay on our sofa - it's your human right
Minister and Wikileaker share cosy chat in tiny London flat
Google flings another £1m at online child sex abuse vid CRACKDOWN
See, see, we're trying, ad giant tells Daily Mail UK.gov
 breaking news
NSA PRISM-gate: Relax, GCHQ spooks 'keep us safe', says Cameron
Whatever they are up to, it's all above board, we're told
 breaking news
BBC lied to Parliament about doomed £100m IT monster, thunder MPs
Axed DMI ballooned and burst while watchdogs sang Kumbaya
PRISM snitch claims NSA hacked Chinese targets since 2009
Snowden suddenly looks safer in Hong Kong after revelations
 breaking news
US chief spook: Look, we only want to spy on 6.66 BEELLLION of you
Americans assured they are not in the NSA's sights