Tax Cuts in the Budget

Guido spotted a few welcome if modest tax cuts in the budget:

  • Stamp Duty cut worth up to £5,000 to first time buyers
  • Personal allowance will rise to £11,850 tax free
  • The higher rate threshold will rise to £46,350*
  • Tax break for transfers of North Sea oil and gas fields
  • Increase in the business R & D tax credit to 12%

A couple of freezes:

  • Fuel duty frozen again this year
  • Froze air passenger duty
  • Beer duty frozen
  • No new tax levies for renewables until 2025 at least

*Given the Scottish higher rate of tax kicks in at £43,000 canny Scots who file their tax returns in England will save themselves a few quid.

Have co-conspirators spotted any more cuts?


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Quote of the Day

In response to the news that Emily Thornberry described the Lib Dems as “like the Taliban” over their new revoke Article 50 Brexit policy, the former Lib Dem leader responded:

“Come on Emily, if we really were like a Middle East terrorist group, don’t you think Jeremy would’ve invited us to a conference fringe meeting before now?”

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