Take a look at our guide and see how your finances may have been affected by Budget 2010. Jobs and education <\/strong> – Guarantee to provide a job or training to 18 to 24-year-olds out of work for more than six months will run until March 2012, instead of ending in March 2011. Housing <\/strong> Environment <\/strong> Taxes <\/strong> Public finances <\/strong> Were you a winner or a loser? Take a look at our guide and see how your finances may have been affected by Budget 2010.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/811"}],"collection":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=811"}],"version-history":[{"count":0,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/811\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n
\nEconomy <\/strong>
\n– Net government borrowing estimate this year will fall from the \u00a3178bn target by \u00a311bn this year, to \u00a3167bn or 11.8 per cent of GDP.
\n– Borrowing will fall to \u00a3163bn next year, which is equal to 11.1 per cent of GDP. It will then fall to \u00a3131bn in 2011\/12, or 8.5 per cent of GDP. Borrowing will then decline to \u00a3110bn, or 6.8 per cent of GDP, to \u00a389bn in 2013\/14, equal to 5.2 per cent of GDP and to \u00a374bn in 2014\/15 at 4 per cent of GDP.
\n– Growth forecast for 2011 revised down to between 3 per cent and 3.5 per cent. Predicted growth of 1.0-1.5 per cent in 2010 in line with forecasts.
\n– Net debt as a share of GDP will reach 54 per cent this year. It will then increase to 75 per cent by the end of the forecast period in 2014\/15 and will then begin to fall.<\/p>\n
\n– The number of civil servants in London is to be reduced by one third over the long term, with 15,000 posts relocated within the next five years to help to save \u00a311bn. One thousand civil servants in the Ministry of Justice will be moved out of London, saving \u00a341m.
\n– Consultation on reform of employers\u2019 right to make people retire at 65, which examines options including scrapping the default retirement age, raising it or giving employees stronger rights.<\/p>\n
\n– Government to set up a \u00a335m University Enterprise Capital Fund to support \u2018innovation and spin-out companies\u2019.
\n– \u00a3270m available in 2010\/11 to fund an extra 20,000 university places in areas such as science, technology, engineering and maths as part of a University Modernisation Fund.
\n– The \u00a32.5bn cost of training young people and extra university places will be partly funded from the tax on bankers\u2019 bonuses.<\/p>\n
\n– A new stamp duty holiday introduced for properties of up to \u00a3250,000 to be funded through an increase in stamp duty from 4 per cent to 5 per cent on properties worth \u00a31m or more from April next year.
\n– From October 2011, the most expensive properties across the country will be excluded from the Housing Benefit calculation in each area to save \u00a3250m a year.
\nFamily finances and pensions
\n– Higher winter fuel payment will be guaranteed for another year, to be paid by closing tax loopholes.
\n– Inheritance tax threshold will be frozen for four years.
\n– Tax credit system extended for people aged over 60. People will have to
\nwork fewer minimum hours to qualify for tax credits.
\n– Parents of one- and two-year-olds to receive \u00a34-a-week increase in child tax credit from 2012.<\/p>\n
\n-Government to set up a new green investment bank, which will control \u00a32bn of equity, to fund a low-carbon economy. Half the cost will come from asset sales, including the Channel Tunnel Rail Link, with the rest matched by private investment.
\n– Extra \u00a360m provided to fund offshore wind farms.<\/p>\n
\n– Confirmation of the 50 per cent rate of income tax from 6 April for people earning more than \u00a3150,000.
\n– Continued drive to prevent tax evasion and avoidance. Tax information agreements will be signed with Dominica, Grenada and Belize.
\n– Confirmation of a 0.5 per cent increase in National Insurance for people earning more than \u00a320,000, which will come into effect from April next year.<\/p>\n
\n– Public sector pay rises held at 1 per cent for two years from 2011.
\n– Budget plans will raise an extra \u00a319bn to reduce borrowing.
\n– Government to provide \u00a3100m to repair roads and a further \u00a3285m to fix motorways.
\n– The government will go ahead with plans to sell the Tote as part of plans to pull in \u00a316bn from asset sales.
\n-Government finalising options on the sale of the Dartford Crossing.
\n-An extra \u00a34bn will be used to fund operations in Afghanistan.<\/p>\n","protected":false},"excerpt":{"rendered":"