April 2011 tax and benefit changes
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Tax or benefitMeasureAnnounced by2011-12 effect for HMT, £m2012-13 effect for HMT, £m
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TotalAnnounced by last Labour governmentLabour9,36013,950
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Income tax Freeze basic-rate limit Labour410580
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Income tax Restrict tax relief on pension contributions Labour2003,500
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Income tax Freeze annual and lifetime allowances for pension contributionsLabour400450
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National Insurance Increase primary threshold Labour-2,930-3,090
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National Insurance Increase all rates by 1ppt Labour9,0209,350
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Indirect taxes Tobacco duty escalator (continues in 2012–13) Labour50100
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Indirect taxes Fuel duty escalator (continues in 2012–13) Labour490980
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Indirect taxes Alcohol duty escalator (continues in 2012–13) Labour120240
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Tax credits Reduce minimum hours of those aged 60 or over to qualify for Working Tax Credit to 16 Labour-20-20
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Expiry of one-off giveaways Cut in Winter Fuel Payment Labour600600
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Expiry of one-off giveaways 1.5% real cut in the value of some benefits Labour700700
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Expiry of one-off giveaways Other tax and benefit changes Labour320560
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Announced in June 2010 Budget Announced in June 2010 Budget Conservative-4,315-3,515
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Income tax and National Insurance Increase personal allowance, cut the basic-rate Conservative-3,490-3,700
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Income tax and National Insurance limit and increase the upper earnings limit Conservative
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Income tax and National Insurance Increase employer NICs threshold Conservative-3,130-3,150
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Income tax and National Insurance Relief for new businesses in targeted regions Conservative-320-390
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Income tax and National Insurance Reduce second income threshold to £40,000 Conservative140145
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Income tax and National Insurance Increase first and second withdrawal rates to 41% Conservative640710
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Income tax and National Insurance Reduce income disregard to £10,000 Conservative105140
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Income tax and National Insurance Abolish baby element Conservative295275
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Income tax and National Insurance Increase child element by £150/year above indexation, and £60/year in 2012–13 Conservative-1,200-1,845
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Housing Benefit Link Local Housing Allowance rates to 30th percentile of local rents Conservative65365
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Housing Benefit Index non-dependent deductions with prices Conservative125225
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Housing Benefit Cap Local Housing Allowance rates and cap maximum allowance at four-bedroom rate Conservative5565
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Housing Benefit Additional bedroom for carers Conservative-15-15
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Housing Benefit Increase discretionary housing payments Conservative-10-40
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Other benefits Switch to CPI indexation for most benefits and tax credits (also in 2012–13) Conservative1,1702,240
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Other benefits Freeze Child Benefit (also in 2012–13) Conservative365695
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Other benefits Increase Pension Credit guarantee Conservative-415-535
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Other benefits Abolish Child Trust Fund Conservative540550
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Other benefits Abolish Health in Pregnancy Grant Conservative150150
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Other benefits Restrict Sure Start Maternity Grant to first child Conservative7575
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Corporation tax Reduce main rate to 27% (and 26% in 2012–13) Conservative-400-1,200
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Corporation tax Reduce small companies’ rate to 20% Conservative-100-1,000
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Corporation tax Introduce bank levy Conservative1,1502,320
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Capital gains tax Increase rate to 28% for higher-rate taxpayers and increase entrepreneurs’ relief Conservative725825
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Council tax Freeze Conservative-625-630
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Other tax and benefit measures Other tax and benefit measures Conservative-185-180
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CSR 2010Announced in 2010 Spending Review Conservative320370
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Benefits and tax creditsFreeze maximum Savings Credit award (also in 2012–13) Conservative165215
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Benefits and tax creditsFreeze basic and 30-hour elements of Working Tax Credit (also in 2012–13)Conservative195415
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Benefits and tax creditsReduce payable childcare costs in Working Tax Credit from 80% to 70%Conservative270320
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Benefits and tax creditsIncrease child element of Child Tax Credit by a further £30/year, and another £50 in 2012–13 Conservative-190-510
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Benefits and tax creditsOther benefit measures Conservative-120-70
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TotalTotal ‘giveaway’ Total-13,390-16,075
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TotalTotal ‘takeaway’ Total18,75526,880
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TotalGrand total Total5,36510,805
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