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Autumn Statement 2012 (Paperback)

Great Britain: H. M. Treasury

ISBN 10: 0101848021 / ISBN 13: 9780101848022
Edité par TSO, United Kingdom, 2012
Neuf(s) Etat : New Couverture souple
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Language: N/A. Brand New Book. N° de réf. du libraire TS19780101848022

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Détails bibliographiques

Titre : Autumn Statement 2012 (Paperback)

Éditeur : TSO, United Kingdom

Date d'édition : 2012

Reliure : Paperback

Etat du livre :New

A propos de ce titre

Synopsis :

The OBR's forecast for GDP growth in 2012 is -0.1 percent and is projected to pick up in every year of the forecast. Public Sector Net Borrowing is forecast to fall by 1.0 percent of GDP in 2012-13 and in subsequent years of the forecast. Public Sector Net Debt is expected to be 79.9 per cent of GDP in 2015-16 before falling to 77.3 per cent by 2017-18. This Statement sets out a further GBP6.6 billion package of savings in the spending review period, made up from welfare, Official Development Assistance (ODA) and departmental current spending. A GBP5.5 billion of additional infrastructure will be funded, including in new roads, science and free schools and academies. There will be a further 1 per cent cut in the main rate of corporation tax from April 2014, to 21 per cent and a significant temporary increase in the Annual Investment Allowance from GBP25,000 to GBP250, 000 for two years. A greater proportion of growth-related spending will be devolved to local areas and a Business Bank will be created to deploy GBP1 billion of additional capital and enable UK Export Finance to provide up to GBP1.5 billion in loans with a package of reforms to promote export. The Government will: increase the basic State Pension by 2.5 percent; create an HM Revenue & Customs unit dedicated to tackling offshore tax evasion; introduce of the UK's first General Anti-abuse Rule; develop significant new information disclosure and penalty powers; and close off tax loopholes. Lifetime allowances for pension contributions will be reduced.

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