Author Topic: Budget 2021  (Read 159 times)

celeste

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Budget 2021
« on: 09:19:55, 04/03/21 »
1bn  for 45 towns in England

 1bn Towns Fund for 45 areas of England
Wed, 03 Mar 2021 19:13:53 GMT
The list of places in England receiving funds is dominated by the north west, Yorkshire and Midlands.

All that's necessary for the triumph of evil is for good men to do nothing

celeste

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Re: Budget 2021
« Reply #1 on: 19:13:17, 05/03/21 »
https://www.bbc.co.uk/news/business-56270941

More than one million people are set to start paying income tax in the next five years, official forecasts say, due to a move announced in the Budget.
Chancellor Rishi Sunak said that the threshold at which the tax starts being paid will be frozen until 2026 after a rise this April.
It means getting a pay rise could pull people into a higher rate of tax.
Commentators have called it an increase in an individual's tax burden "by stealth".
Ten ways the Budget will affect you
Budget 2021: Key points at-a-glance
The chancellor said that he wanted to be honest with the British public about the way in which money would be raised to pay for support schemes during the coronavirus pandemic.

At present, people start paying 20% income tax when they earn 12,500 a year, known as the personal allowance.
The first 12,500 they earn is tax-free with the 20% rate only being charged on everything they earn above that amount, up to the higher rate tax threshold.

The starting point for paying the higher 40% rate is 50,001.
These thresholds will go up to 12,570 and 50,270 in April, but will then be frozen until April 2026.
The Office for Budget Responsibility, the government's official but independent forecaster, said this policy would bring 1.3 million more people into paying income tax and one million more into paying at the higher rate. This is known as fiscal drag.
While the Scottish government has the ability to vary tax rates and bands under its devolved powers, the tax free personal allowance threshold is set by the chancellor and applies to the whole of the UK.
All that's necessary for the triumph of evil is for good men to do nothing