2009 United Kingdom budget
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‹ 2008 | |
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| Presented | 22 April 2009 |
|---|---|
| Parliament | 54th |
| Party | Labour |
| Chancellor | Alistair Darling |
| Total revenue | £496 billion‡ (29% of 2008 GDP) |
| Total expenditures | £671 billion (40% of 2008 GDP) |
| Deficit | £175 billion (10.5% of 2008 GDP) |
| Website | Budget 2009: Building Britain's Future |
| ‡Numbers in italics are projections. | |
The 2009 United Kingdom Budget, officially known as Budget 2009: Building Britain's Future, was formally delivered by Alistair Darling in the House of Commons on 22 April 2009.[1] It introduced new tax, spending and debt rises in a financial environment of rising unemployment and recession.[2]
Details
To stimulate the motor industry, a £2,000 scrappage allowance was announced for a car more than 10 years old, if it is traded in for a new car and if it has been in the car buyer's ownership for the previous 12 months. £1,000 of this is to be provided by the government, and £1,000 by a motor manufacturer.[1] The scheme started about mid-May 2009 and was planned to finish at the end of February 2010; however, before it was due to end, it was extended by one month, to the end of March 2010.[3]
For high earners, a 50% tax band was announced for earners of over £150,000 per year to start in April 2010,[1] and tax relief on pension contributions was reduced progressively from 40% to 20% for annual incomes between £150,000 and £180,000 and to 20% above £180,000 commencing April 2011.[4]
For savers, limits in Individual Savings Account (ISA) accounts were increased in two phases to a total of £10,200, including an additional £1,500 to the previous upper limit of £3,600 in a cash ISA. The first phase is for those over age 50 years, who can contribute additional amounts from 6 October 2009.[1]
See also
References
- ↑ 1.0 1.1 1.2 1.3 "At-a-glance: Budget 2009". BBC. 22 April 2009. Archived from the original on 24 April 2009. Retrieved 23 April 2009.
- ↑ Wright, Ben (22 April 2009). "Budget signals new political era". BBC. Archived from the original on 25 April 2009. Retrieved 23 April 2009.
- ↑ "Car Scrappage Scheme Extended!". www.carscrappage.co.uk. 2010. Archived from the original on 28 May 2010. Retrieved 2010-05-21.
- ↑ "Pensions blow for higher earners". BBC. 22 April 2009. Archived from the original on 25 April 2009. Retrieved 23 April 2009.
External links
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Wikinews has related news: Darling announces UK budget for 2009 |
- Budget 2009: Building Britain's future, HM Treasury web page (now at The National Archives)
- "Budget 2009 speech in full". BBC. 22 April 2009. Archived from the original on 24 April 2009. Retrieved 23 April 2009.
- "Complete Budget report" (pdf). Archived from the original on 21 May 2009. Retrieved 23 April 2009.
- "Pie chart showing both Departmental expenditure and revenue sources for 2009". Daily Mail. Retrieved 25 March 2010.
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