All figures quoted below are in sterling
INCOME TAX
- £1 billion a year tax cut, with the band of income taxed at 10p raised from £1,520 to £1,880.
SCHOOLS
- Primary school head teachers will receive £13,000 with larger primaries receiving £63,000 in extra funding.
- Secondary schools to get £68,000 and larger ones £115,000.
HEALTH
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- Hospital trusts to get between £500,000 and £1 million extra each year for three years.
- Extra £135 million to recruit NHS staff.
FUEL
- Duty on ultra low sulphur petrol cut by 2p a litre.
- 2p cut to unleaded petrol until June when supplies of ultra low sulphur petrol will be more widely available.
- 3p off ultra low sulphur diesel.
- Duty on alternative fuels will be cut and duty on road fuel gases will be frozen until 2004.
PENSIONERS
- Chancellor confirmed increases of £5 for single pensioners and £8 for couples in the state pension.
- Pensioners' tax allowances will be linked to earnings from 2003.
ECONOMY
- Budget to put families first.
- Lowest inflation for 30 years.
- Economic growth was 3 per cent in 2000.
- Inflation forecast to be 2.5 per cent in 2002 - 2.5 per cent to remain inflation target.
- National debt forecast to fall to 30.3 per cent in 2001/2.
- Debt interest payments in 2001-02 will be £1.5 billion lower than forecast in November, and £3.5 billion lower overall.
INVESTMENT
- Government accepts Myners Report on pension fund investment policies allowing funds to invest in wider range of assets.
- Consultation on Corporation Tax.
- The UK will help set up a fund for global health developing new life-saving drugs and making existing drugs more widely available.
- New tax credit for drug companies.
- Long term Capital Gains Tax rate cut to 10p.
- VAT returns to be based on annual company accounts.
- The VAT threshhold is raised to £54,000 for small business, and there will be a proposed lower rate for firms with a turnover of up to £100,000.
SPENDING
- Public spending to increase by 3.7% a year by 2003-04.
CAR TAX
- All vehicle duty rates frozen.
- Lower tax for cars under 1.5 litres backdated to November - 70% of new cars to pay lower car tax.
- Vehicle excise duty abolished on tractors from April.
DRINK
- Duty on wine, beer and spirits frozen.
TOBACCO
- 6p rise on cigarettes.
BETTING
- Betting duty abolished.
URBAN REGENERATION
- £1 billion tax cuts to aid urban regeneration.
- Stamp Duty will be abolished in designated areas, VAT on residential conversions will be cut to 5%, there will be 150% tax relief to clean contaminated land, and there will be allowances to renovate empty flats.
- New grant to help church repairs.
EMPLOYMENT
- More cash for training for ex-drug addicts.
- Lone parents required to have interviews about work from 2002.
- Families on Working Families Tax Credit to receive rise of £5 a week.
- Disabled Persons Tax Credit raised by £5 a week.
- More help with child care for working families. Childcare tax credit to rise to £135 a week for one child, £200 a week for two or more.
MUSEUMS
- VAT to be changed to give free museum entrance.
- All figures quoted below are Sterling
INHERITANCE TAX
- The threshhold for Inheritance Tax will be raised to £242,000.
FAMILIES
- New children's tax credit to be introduced in April and paid at £10 a week.
- Maternity pay to be increased from £60 to £100 a week in 2003. Also extended from 18 weeks to 2003
- Two weeks paid paternity leave.
- Child tax credit for families with new babies to be set at a higher level.
DRUGS
- New three year budget of more than £200 million to combat drugs problems.