The Chancellor’s Autumn Statement
The main changes which affect the business activity of the UK
- Fuel duty increase of 3p per litre planned for January 2012 has been delayed until August 2012
- Corporation tax will fall to 25% in April 2012
- Business rate holiday relief for small firms will be extended to April 2013
- £1bn will be made available to subsidise six month placements for young people
- Infrastructure spending to be supported by unlocking , up to , £20bn investment from pension funds
- Go ahead for 35 road & rail projects across England
- Crediting Easing ( rebranded as National Loan Guarantee scheme ) to underwrite low interest loans for small/medium firms
Other significant changes will affect:-
- Pensions – State pension up 5.2% , April 2012
- Right to buy council housing by occupants , with up to 50% discount
- Rail fare increases limited to inflation plus 1%
- Public sector pay awards limited to 1% for each of the next 2 years
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