Budget 2014

Budget 2014

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Budget 2013 (HC 1033) announces further detail on the Government's deficit reduction plans, new steps to ensure monetary policy continues to support the economy with a new remit for the Monetary Policy Committee (MPC), and further measures to ease the long-term pressure on the public finances. Central Government departmental expenditure limits will be reduced by 1.1 billion in 2013-14 and by 1.2 billion in 2014-15, with the funds used to support housing. Schools and health budgets will remain unchanged; and public sector pay awards will be limited to an average of 1%. Budget 2013 is fiscally neutral - action to promote growth includes: (i) a reduction in corporation tax by 1% in April 2015; (ii) a 2000 employment allowance per year from April 2014 designed particularly to help charities and small businesses with employer's National Insurance contributions, (iii) a capital spending increase of 3 bi... billion Estimate Plans 2013-14 2014-15 2015-16 Departmental programme and administration budgets (Resource DEL ... Innovation and Skills 14.8 13.8 13.2 Home Office 10.7 10.4 9.8 Justice 7.4 6.7 6.2 Law Officersa#39; Departments 0.6 0.5anbsp;...

Title:Budget 2014
Author: Great Britain: H.M. Treasury
Publisher:The Stationery Office - 2014-03-19

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