Budget 2015: As It Happens

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The headline announcements:

  • The end of the tax return
  • Fuel duty frozen
  • Personal allowance increased to £11,000
  • New £1,000 personal savings allowance
  • Help to Buy ISAs
  • Tax avoidance and evasion measures to raise £3.1 billion
  • Bank levy increased to raise an extra £900 million a year

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Quote of the Day

Dominic Raab wrote in his letter of resignation…

“This is, at its heart, a matter of public trust,” he told the PM, concluding: “I cannot reconcile the terms of the proposed deal with the promises we made to the country in our manifesto at the last election… I believe that the regulatory regime proposed for Northern Ireland presents a very real threat to the integrity of the United Kingdom. I cannot support an indefinite backstop arrangement, where the EU holds a veto over our ability to exit…”

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