In order to help structure this blog I’m going to add ‘Thursday Video Day’, where I will find a video from the internet and post it on my blog.
It will be interesting and up-to-date in current affairs.
First Video:“As it happened: Budget 2013”
The video that comes up is a 9min video on the reaction of the 2013 Budget.
Some key points of the Budget:
- George Osbourne delays spending in Whitehall in order to reduce headline borrowing.
- NI is reduced by £2000, aimed at smes to increase employment.
- Increased taxes on Beer have been cancelled and he is reducing the current tax by 1p.
- Corporation Tax to be reduced to 20% (down from 21%) in 2015.
- First £10,000 of income will not be taxed from next year.
- Fuel duty tax rise cancelled (Osbourne claims he has saved us 13p over past 2 years from scrapping fuel duties)
The video explains parts of the budget in more detail, with analysis from Stephanie Flanders, Robert Peston and Nick Robinson.