A briefing on George Osborne's first Budget since the General
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
- 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:
the CII's Summer Budget briefing here