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| Summary of Budget 2020: Key points at-a-glance | Summary of Budget 2020: Key points at-a-glance |
| (32 minutes later) | |
| Chancellor Rishi Sunak is delivering his first Budget in the House of Commons, announcing the government's tax and spending plans for the year ahead. | Chancellor Rishi Sunak is delivering his first Budget in the House of Commons, announcing the government's tax and spending plans for the year ahead. |
| Here is a summary of the main points, which will be updated as he speaks. | Here is a summary of the main points, which will be updated as he speaks. |
| Coronavirus response | Coronavirus response |
| *£5bn emergency response fund to support the NHS and other public services | *£5bn emergency response fund to support the NHS and other public services |
| *Statutory sick pay will be paid to all those who choose to self-isolate, even if they don't have symptoms | *Statutory sick pay will be paid to all those who choose to self-isolate, even if they don't have symptoms |
| *Contributory employment Support Allowance benefit claimants will be able to claim sick pay on day one, not after a week | *Contributory employment Support Allowance benefit claimants will be able to claim sick pay on day one, not after a week |
| *£500m hardship fund to help vulnerable people | *£500m hardship fund to help vulnerable people |
| *Firms with fewer than 250 staff will be refunded for sick pay payments for two weeks | *Firms with fewer than 250 staff will be refunded for sick pay payments for two weeks |
| *Small firms will be able to access "business interruption" loans of up to £1.2m | *Small firms will be able to access "business interruption" loans of up to £1.2m |
| *Business rates will be abolished for firms in the retail, leisure and hospitality sectors with a rateable value below £51,000 | *Business rates will be abolished for firms in the retail, leisure and hospitality sectors with a rateable value below £51,000 |
| Personal taxation and wages | Personal taxation and wages |
| *National Insurance Contributions tax threshold to rise from £8,632 to £9,500 - saving people just over £100 a year | *National Insurance Contributions tax threshold to rise from £8,632 to £9,500 - saving people just over £100 a year |
| *0.5% VAT on women's sanitary products, the tampon tax, to be scrapped | *0.5% VAT on women's sanitary products, the tampon tax, to be scrapped |
| Alcohol, tobacco and fuel | Alcohol, tobacco and fuel |
| *Fuel duty for be frozen for the 10th consecutive year | *Fuel duty for be frozen for the 10th consecutive year |
| *Duties on spirits, beer, cider and wine to be frozen | *Duties on spirits, beer, cider and wine to be frozen |
| *Business rate discounts for pubs to rise from £1,000 to £5,000 this year | |
| Business, digital and science | Business, digital and science |
| *System business rates to be reviewed later this year | |
| *Entrepreneurs' Relief will be retained, but lifetime allowance will be reduced from £10m to £1m | *Entrepreneurs' Relief will be retained, but lifetime allowance will be reduced from £10m to £1m |
| *£5bn to get gigabit-capable broadband into the hardest to reach places | |
| *Science Institute in Weybridge, Surrey to get a £1.4bn funding boost | |
| *An extra £900m for research into nuclear fusion, space and electric vehicles. | |
| The state of the economy | The state of the economy |
| *Economy predicted to grow 1.1% this year, not taking into account the impact of coronavirus | *Economy predicted to grow 1.1% this year, not taking into account the impact of coronavirus |
| *Annual output forecast to be 1.8% in 2021-22, 1.5% in 2022-23 and 1.3% in 2023-24 | |
| *Inflation forecast of 1.4% this year, increasing to 1.8% in 2021-2022 | *Inflation forecast of 1.4% this year, increasing to 1.8% in 2021-2022 |
| Environment and energy | Environment and energy |
| *Plastic packaging tax to come into force from April 2022 | |
| *Manufacturers and importers whose products have less than 30% recyclable material will be charged £200 per tonne | |
| *Fuel subsidies for off-road vehicles - known as red diesel - will be scrapped "for most sectors" in two years time | |
| *Farmers and rail operators will be excluded | |
| *£120m in emergency relief for communities affected by this winter's flooding and £200m for flood resilience | |
| *Total investment in flood defences to be doubled to £5.2bn over next five years | |
| *£640m "nature for climate fund" to protect natural habitats, including 30,000 hectares of new trees | |
| Transport, infrastructure and housing | Transport, infrastructure and housing |
| *More than £600bn is set to be spent on roads, rail, broadband and housing by the middle of 2025 | |
| *Ministers say this represents the largest capital investment in infrastructure for generations | |
| *£2.5bn will be made available to fix potholes and resurface roads over five years | |
| The state of the public finances | The state of the public finances |
| *Public sector net borrowing set to rise this year to 2.1% of GDP, rising to 2.4% and 2.8% in subsequent years | *Public sector net borrowing set to rise this year to 2.1% of GDP, rising to 2.4% and 2.8% in subsequent years |
| Brexit and international trade | Brexit and international trade |
| Nations and regions | Nations and regions |