| Key Budget measures include
The Government's economic objective is to build a strong economy and
a fair society, where there is opportunity and security for all. The
Budget sets out how the Government is working to achieve this goal,
building on a platform of stability and sustained growth, to ensure
the UK can continue to succeed in the global economy. Budget announcements
include:
- an updated
economic forecast,
which shows that the UK economy is stable and growing, and that the
Government is meeting its strict fiscal rules for sound public finances
over the economic cycle;
- support
for families, by increasing the child element of the Child
Tax Credit at least in line with earnings to the end of this Parliament;
- further
payments into Child Trust Fund accounts at age 7 of £250
for all children, with £500 for children from lower-income families;
- free
national off-peak bus travel in England for every pensioner and disabled
person from April 2008;
- an additional
£585 million to increase direct payments to schools in England;
- funding
to support the most talented British athletes
to prepare for the 2012 Olympics;
- measures
to raise productivity including maximising the impact of
science funding, and reducing the burden of regulation on business;
- further
reforms to modernise the tax system, and a number of measures
to tackle tax fraud and avoidance;
- measures
to tackle climate change
including an increase in line with inflation of the climate change
levy from April 2007, and the introduction of a new zero rate of vehicle
excise duty for the small number of cars with the very lowest carbon
emissions and a new top band for the most polluting new cars; and
- an increase
in line with inflation of fuel duty
rates from 1 September 2006.
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|
Key Budget
measures include