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CII briefing: Summer Budget 2015

A briefing on George Osborne's first Budget since the General Election.

Chancellor George Osborne delivered the first Conservative Budget for 18 years. Unconstrained by being part of a coalition administration, Mr Osborne has set out a broad plan of action which seeks to define the political and economic landscape to 2020 and beyond. The headline announcements include:

  • A new National Living Wage (to reach £9 p/h by 2020).
  • The abolition of Non-Domicile status.
  • A Green Paper on pensions tax relief.
  • A new levy on large employers to pay for new apprenticeships.
  • An increase in the personal allowance and the threshold for the 40p rate of income tax.
  • An increase in Insurance Premium Tax to 9.5% 
  • A review of the regulation of Claims Management Companies.

To access the main budget documents, visit: https://www.gov.uk/government/topical-events/budget-july-2015

Pdf icon small View the CII's Summer Budget briefing here

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