Budget 2012

Budget boxThe Chancellor of the Exchequer, George Osborne MP, presented his Budget to Parliament today, 21 March 2012. This is the third Budget of the Coalition Government. In his Budget speech the Chancellor outlined how the Government plans to raise and spend money in the coming year. Some key points of the Budget include:-

  • From April 2013, the 50p top rate of tax will be cut to 45p
  • Automatic review of state pension age to ensure it keeps pace with increasing lifespans
  • Personal income tax allowance raised to £9,205 from April 2013

You can find all of the Budget documents online on the HM Treasury website.

The House of Commons Library has produced a briefing paper on the Background to the 2012 Budget, and a Research Paper on economic indicators.

The full text of the Chancellor’s statement is available from the HM Treasury website.

What’s new from the Scottish Government and Parliament? 4th May

  • Economic Indicators (SPICe Briefing 10-28) – latest economic data such as UK inflation, unemployment levels, interest rates and house prices
  • Europe 2020 – Report from European and External Relations Committee (SP Paper 425). The EU 2020 strategy follows on from the Lisbon strategy and sets out a vision of the social market economy for Europe in the 21st century. This report details the Committee’s recommendations and conclusions to the Parliament.
  • Growing Up In Scotland: Children’s Social, Emotional, and Behavioural Characteristics at Entry to Primary School – Report based on the Growing Up In Scotland Survey, looking at which children are most likely to have emotional, social or behavioural difficulties at entry to primary school and to what extent are these early difficulties predicative of difficulties later in life 
  • Growing Up In Scotland: Health Inequalities in the Early Years – Report based on the Growing Up In Scotland Survey, which shows the extent of poor health in the early years
  • Growing Up In Scotland: Maternal Mental Health and its Impact on Child Behaviour and Development – Report based on the Growing Up In Scotland Survey, which was carried out with natural mothers when their baby was ten months old and then annually until the child was four years old. The report looks at poor maternal mental health, and the effect it has on a child’s development
  • Growing Up In Scotland: The Circumstances of Persistently Poor Children – Report based on the Growing Up In Scotland Survey, which shows how many and which children are persistently poor and what the long-term effect of this might be