1
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
2
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
3
New Freeports will encourage free trade and reinforce our position as an outward-looking, trading nation, open to the world. #Budget2021
4
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
5
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
6
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
7
Evening @Ed_Miliband 👋 think you forgot to tweet about the £18.6 million announced at #Budget2021 to help level up Doncaster through the Levelling Up Fund.
There's still time though, graphic here if you need it 👇
8
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
9
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
10
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
11
Slept through the budget.
*reads headlines*
The Tories have cut tax on champagne.
*goes back to sleep*
#Budget2021
12
We’re providing new Restart Grants to help businesses reopen. #Budget2021
13
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
14
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
15
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
16
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
17
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
18
Watch #Budget2021 live now pscp.tv/w/cw4nijFQbUtx…
19
Disappointing that the MP for Leeds West didn't welcome the #Budget2021 announcement today to level up transport connections in her constituency with £20 million from the Levelling Up Fund.
It's not too late though @RachelReevesMP I've even made a graphic for you 👇
20
Tomorrow’s Budget and Spending Review will deliver a stronger economy for the British people.
I hope you find it more engaging than Nova did. #Budget2021
21
We’re launching a new Future Fund Breakthrough to help fill the scale-up funding gap. #Budget2021
22
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
23
The planned increases in duties for spirits like Scotch whisky, wine, cider and beer, will all be cancelled. #Budget2021
24
We’re increasing the National Living Wage next year by 6.6%, to £9.50 an hour.
For a full time worker, that’s a pay rise worth over £1,000.
It will benefit over 2m of the lowest paid workers in the country. #Budget2021
25
Missed the full speech?
Here are 5️⃣ things you need to know about #Budget2021 and #SpendingReview.