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Budget 2010

Industry related highlights from this week’s budget report following our extensive (and somewhat boring) reading on your behalf are as follows:

 

  • Young Person’s Guarantee extended to March 2012.
  • Increased support through tax credits for families with children aged one and two.
  • New ‘universal service obligation' giving people the right to a basic bank account to be consulted on.  Oh ... and the Government feels that the Post Office “has a key role to play in bringing financial services into the heart of our communities”.  Shame so many of them have closed!
  • From April 2011, people moving into work from the Employment and Support Allowance with a limited capability for work will be automatically eligible for the disability element in the Working Tax Credit (WTC).
  • National Minimum Wage rise of 2.2% in October 2010 to £5.93 for the headline rate and similar increases for other rates.
  • Introduction of National Minimum Wage for Apprentices of £2.50.
  • Options to be considered to improve work incentives and support for second earners moving into and progressing in the labour market eg School Gates Employment Support Initiative.

That’s it pretty much so there really isn't anything spectacular.  And if you are a cider drinking, smoking, driver (obviously not all at the same time) … well you don’t want to see how badly off you’re going to be.  No … you really don’t!

 


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