Budget 2012: At a glance – other announcements

March 21, 2012


50p top rate of tax cut to 45p from April 2013

Personal income tax allowance raised to £9,205 from April 2013 New general anti-tax avoidance rule to be introduced

Age-related allowances to be removed for new pensioners from April 2013 and replaced with a single personal allowance for all

Allowances for those already of pension age to be frozen. Chancellor vows: "no pensioner will lose in cash terms"


Phased out when a household has someone earning £50,000-plus and will fall by 1% for every £100 earned over £50,000.

Those earning more than £60,000 will lose the entirety of the benefit


New stamp duty level of 7% for homes worth more than £2m from midnight. Such homes bought through companies will pay 15%


Duty on all tobacco products to rise by 5% above inflation from 6pm today – equivalent to 37p on a packet of cigarettes

No change to existing plans on alcohol duty so duty will rise 2% above rate of inflation. Price of pint goes up by more than 5p

New duty on gaming machines at a standard rate of 20% and a lower rate for low-prize machines of 5% of net takings

No change to existing plans on fuel duty. Vehicle excise duty to rise by inflation, but frozen for road hauliers

Existing fair fuel stabiliser means above-inflation rises in fuel duty will return only if price of oil falls below £45 ($70) a barrel.


Automatic review of State pension age to ensure it keeps pace with increasing lifespans

New single-tier State pension for future pensioners to be set at about £140 and based on contributions


Cost of operations in Afghanistan to be £2.4bn less than expected. Money saved will provide an extra £100m to improve military accommodation

Personnel serving overseas will receive 100% relief on an average council tax bill

Families welfare grant also doubled.


Government evidence to be published on the case for regional public sector pay

Option for government departments to move to regional pay structures for civil servants when current freeze ends

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