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Alistair Darling's Budget at a glance

Wednesday, 22 April 2009

Here are the main points of Chancellor Alistair Darling's Budget:

  • The Chancellor rose to deliver his Budget at 1231.
  • Mr Darling expects the economy to begin to grow again by the end of this year.
  • Total policy support for the UK economy is expected to protect up to 500,000 jobs.
  • Forecast for GDP growth in 2009 is minus 3.5%.
  • Growth of 1.25% forecast for 2010.
  • From 2011, growth of 3.5% per annum forecast.
  • Inflation expected to continue to come down sharply, to 1% by the end of the year.
  • Deficit expected to halve in four years.
  • Extra £1.7 billion for Job Centre Plus network.
  • From January, everyone under 25 and out of work will receive a job or training.
  • Pledge to create 250,000 extra jobs and £260 million extra for skills and training.
  • For the next two years, £250 million and then £450 million to maintain 54,000 sixth form places.
  • More help for homeowners out of work to reduce repossessions.
  • Stamp duty holiday on homes up to £175,000 extended to end of year.
  • Loss-making firms can reclaim tax on profits from past three years.
  • Car industry scrappage scheme of £2,000 for cars over 10-years-old from next month to March 2010.
  • Budget measures represent fiscal easing of 0.5% of GDP this year.
  • Public sector borrowing to hit £175 billion this year - 12% of GDP - but to fall to 9.1% in two years.
  • From April 2011 pension tax relief restricted for those on incomes over £150,000.
  • No income tax increase this year, but the planned new top income tax rate of 45% on incomes above £150,000 will be increased to 50% and take effect from next April - a year early.
  • Fuel duty will increase by 2p per litre in September and then by 1p a litre above indexation each April for the next four years.
  • Alcohol duties will go up by 2% from midnight tonight. There will be an increase in tobacco duty of 2% from 6pm tonight. These measures will raise over £6 billion by 2012.
  • £5 billion further efficiency savings in public services, rising to £9 billion by 2013/14.
  • Capital investment to continue until the London Olympics, and to be 1.25% of GDP after 2013.
  • Extra £1 billion to help climate change measures.
  • £50 million to modernise armed forces housing.
  • North Sea oil exploration incentives.
  • Main capital allowance for firms doubled to 40%.
  • Extra funding to extend broadband network.
  • £750 million strategic investment fund announced to help emerging technologies.
  • World's first carbon budget - £435 million extra for energy efficiency measures for businesses and homes.
  • £525 million new funds and support for offshore wind projects.
  • £4 billion more for renewable energy projects.
  • New power plants exempt from climate change levy from 2013.
  • From April next year, child element of child tax credit up £20.
  • Grandparents who are carers of children will see that work qualify towards state pension.
  • Pensions will rise in real terms.
  • Winter fuel allowance for pensioners to be maintained.
  • Capital disregard on Pension Credit to be raised from £6,000 to £10,000 from November.
  • ISA savings tax free limit raised to £10,000 (£5,100 in cash) for over-50s this year and for everyone else next year.
  • The Chancellor sat down at 1.21pm.

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NI Travel and Tourism Awards

  • Sean Crummey entertains guests at the Northern Ireland Travel and Tourism Awards 2009
  • Sean Crummey, Maureen Ledwith and Nan Short with Craig Doyle at the Slieve Donard Resort and Spa at the Northern Ireland Travel and Tourism Awards 2009
  • Rowan Devereux and Ciaran Mulligan of Blue Insurances with Craig Doyle at the Slieve Donard Resort and Spa at the Northern Ireland Travel and Tourism Awards 2009

NI Travel and Tourism Awards

Deloitte Technology Fast 50 Awards

  • From left to right, Daniel McRitchie (Andor Technology, placed 48 in this year?s Fast 50 ranking); Mark McCusker (Texthelp Systems Ltd, placed 40th in this year?s Fast 50 ranking); Trevor Jordan (Andor Technology); and Seamus Scullion (Texthelp Systems Ltd).
  • James Greer, proprietor of Greer Publications, presents the ?Rising Star? award to Mary McKenna and Paul McElvaney of Learning Pool Ltd.
  • From left to right: Daniel McRitchie and Trevor Jordan of Andor Technology.

Deloitte Technology Fast 50 Awards

CEF Construction Awards 2009

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Newry Chamber of Commerce Banquet

  • Newry Chamber of Commerce Banquet. Thursday 8 October 09
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Connecting Employers to Communities

  • The Connecting Employers to Communities event hosted at Hillsborough Castle by Business in the Community on 23 September 2009.
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Connecting Employers to Communities

Ulster Tatler Awards 2009

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In pictures: Doing the business

  • Top thinkers put heads together for economic seminars. Some of Northern Ireland?s top figures from the world of business and academia have come together for two major seminars hosted by Joint Independent Group for Study and Action (JIGSA) at Queen?s University Belfast. Economist John Simpson; JIGSA member and Deloitte partner Gillian Russell; and IoD Chairman Joanne Stuart were among those attending the think tank event, which discussed devolution, the Barnett Review of economic policy, NAMA arrangements and the UK?s fiscal deficit. Speakers for the event included Sir Gerry Loughran, Lord Paul Bew, Victor Hewitt and Mike Smyth
  • Translink has made a deal worth £7m for 48 new buses to run on rural routes. The deal was reached with Wrightbus and Scania. The contract is funded by the Department for Regional Development. Announcing the deal are Translink chief executive Catherine Mason, Regional Development Minister Conor Murphy (centre) and Dr William Wright, proprietor of Wrightbus
  • Paul Rooney, Chair, Business in the Community (BitC) with Colin Lewis, Deputy Secretary, Department of Enterprise, Trade and Investment and Susan Kinane, Managing Director, ESB Independent Energy at the launch of the Business in the Community's Correction Programme at the W5 Lecture Theatre. The programme is funded by ESB and aims to match small business owners with mentors from BitC member companies with the aim of sharing best practice and promoting responsible growth.

Cream of the crop in the business world

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Top 100 Companies

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