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🧰 The Budget will take place on 3 March 2021 and will deliver the next phase of our plan to support our recovery from coronavirus and protect jobs.
More: gov.uk/government/new… #Budget2021 #PlanForJobs
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This Wednesday, in a Budget first, I will be taking questions from the public and the press straight after my statement.
Live from 5pm. #Budget2021
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One year ago I was preparing for my first ever Budget.
A lot has happened since then, but the promises that underpin our plan remain unchanged.
Watch below 👇 #Budget2021
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Today, ahead of #Budget2021, I spoke to just some of the millions of people who've been impacted by coronavirus.
Tomorrow, our Budget will set out a three-part plan to protect the jobs and livelihoods of the British people.
Watch from 12.30pm.
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It’s budget day; probably not a great sign that the chancellor has asked to borrow a tenner to “see him through to the weekend” #Budget2021
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Watch #Budget2021 online at 12.30pm live after #PMQs.
We’ll also be streaming the Budget Press Conference later at 5pm.
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Watch #Budget2021 live now pscp.tv/w/cw4nijFQbUtx…
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To protect the jobs and livelihoods of the British people through the remaining phase of this crisis, the furlough scheme will be extended until the end of September. #Budget2021
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Support for the self-employed will continue with a 4th grant covering February to April, and a 5th grant from May.
As the tax return deadline has now passed, 600,000 more people, many of whom became self-employed last year, can now claim the 4th and 5th grants. #Budget2021
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We’re taking what works to get people into jobs and making it better.
Today we’re doubling the apprentice incentive payments we give businesses to £3,000 – that’s for all new hires, of any age. #Budget2021
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We’re providing new Restart Grants to help businesses reopen. #Budget2021
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As the Bounce Back Loan and CBIL schemes come to an end, we’re introducing a new Recovery Loan Scheme to take their place. #Budget2021
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We’ll continue with the 100% business rates holiday through to the end of June.
For the remaining nine months of the year, business rates will still be discounted by two thirds, up to a value of £2m for closed businesses.
A £6bn tax cut for business. #Budget2021
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To protect hospitality and tourism jobs, the 5% reduced rate of VAT will be extended for six months to 30th September.
And even then, we won’t go straight back to the 20% rate. We’ll have an interim rate of 12.5% for another six months. #Budget2021
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The new £500,000 nil rate band for #StampDuty won't end on 31st March, it will end on the 30th June.
Then, to smooth the transition back to normal, the nil rate band will be £250,000, double its standard level, until the end of September. #Budget2021
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A new policy to stand behind homebuyers: a mortgage guarantee.
Lenders who provide mortgages to home buyers who can only afford a 5% deposit, will benefit from a government guarantee on those mortgages. #Budget2021
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We're not going to raise the rates of income tax, national insurance, or VAT.
Instead, we are freezing personal tax thresholds. Nobody’s take home pay will be less than it is now, as a result of this.
It is a tax policy that is progressive and fair. #Budget2021
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We’ll also tackle fraud in our COVID schemes, with £100m to set up a new Taxpayer Protection Taskforce of around 1,000 investigators. #Budget2021
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In 2023 the rate of corporation tax, paid on company profits, will increase to 25%. Even after this change we’ll still have the lowest corporation tax rate in the G7.
We’ll also protect small businesses so only 10% of companies will pay the full higher rate #Budget2021
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The Super Deduction makes our tax regime for business investment truly world-leading, lifting us from 30th in the OECD, to 1st.
For the next two years, we’re allowing businesses to claim 130% of their new machinery cost as a tax cut #Budget2021
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The planned increases in duties for spirits like Scotch whisky, wine, cider and beer, will all be cancelled. #Budget2021
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The planned increase in fuel duty is also cancelled. #Budget2021
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New visa reforms aimed at highly skilled migrants, including:
👉 A new unsponsored points-based visa to attract the best and most promising international talent in science, research and tech.
👉 New, improved visa processes for scale-ups and entrepreneurs #Budget2021
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We’re launching a new Future Fund Breakthrough to help fill the scale-up funding gap. #Budget2021
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New Freeports will encourage free trade and reinforce our position as an outward-looking, trading nation, open to the world. #Budget2021
