How are you affected?..Chancellors Autumn Statement Summary

Posted on 5th December, 2012

Autumn Statement: At-a-glance summary of key points

Chancellor George Osborne has updated MPs on the state of the economy and the government's future plans in his Autumn Statement. Here are the key points:

FUEL

The 3p-a-litre increase in fuel duty, planned for next January, is cancelled

 

BENEFITS AND PENSIONS

Most working-age benefits to rise by 1% for each of next three years

Basic state pension to rise by 2.5% next year to £110.15 a week

Child benefit to rise by 1% for two years from April 2014

 

 

TAXES AND ALLOWANCES

Basic income tax threshold to be raised by £235 more than previously announced next year, to £9,440

Threshold for 40% rate of income tax to rise by 1% in 2014 and 2015, from £41,450 to £41,865 and then £42,285

Main rate of corporation tax to be cut by extra 1% to 21% from April 2014

Inheritance tax threshold to be increased by 1% next year

ISA contribution limit to be raised to £11,520 from next April

 

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