Budget 2013: Key points
Here is my commentary on the key things arising from the budget which have particular resonance for rural dwellers:
School and health budgets will be protected – lets hope this helps keep small rural schools and local rural GP Surgeries in business
Public sector pay rises will be limited to 1pc a year in 2015/16 – more “hard love” for rural local government staff
Osborne introduced a “generous” new tax regime to promote early investment in shale gas – this is controversial but fascainting in the contetxt of the balance between the environmental and energy pressures in rural England
The Government intends to progress two major carbon capture and storage projects – I thought this agenda, which will definitely have an impact on rural communities was off the agenda
Personal allowance is to be raised to £10,000 by next year – one year earlier than planned – could be a real benefit for those suffering from in-work poverty in rural England
Tax free childcare vouchers worth £1,200 per child are to be introduced, along with increased support for families with children on universal credit – a key agenda for those juggling with work and childcare challenges in rural England
The flat rate pension worth £144 a week is to be brought forward to 2016. – responds to some of the challenges faced by the rural elderly seeking to make ends meet
A cap on social care costs is to come in during 2017 and protect savings above £72,000 – as above
Under the Help to Buy scheme, the Government will commit £3.5bn of capital spending over next three years to shared equity loans. It will offer equity loans worth up to 20pc on a new build home for anybody looking to move up the housing ladder. A new mortgage guarantee, sufficient to support £130bn worth of loans, will be introduced to help people who cannot afford a big deposit – an effort at least to get the rural housing market going
September’s 3p rise in fuel duty has been cancelled – rural no brainer!
The Government is maintaining the planned rise for all alcohol duty, with the exception of beer and beer duty is being cut by 1p – keep the people happy with “bread and circuses ” or in this case beer! Should also help “the pub is the hub.”
Osborne is creating the employment allowance, which will reduce every business’ National Insurance payroll taxes by £2,000 – cracking move to support many small rural businesses