Check SPENDING breakdown, Cash-strapped schools will not enjoy being told this is for “the little extras” when many are struggling for the very basics. The substantial upgrade to the health of the public finances that the Office for Budget Responsibility (OBR) has made underscores the strength of the government’s fiscal management and the economic recovery since 2010. outturn. Tobacco duty will continue to rise by inflation plus 2%. Public spending data in ukpublicspending.co.uk includes public spending outturns and also future spending in There are more than 200,000 shared ownership properties in the UK. However, changes to National Insurance could reduce those gains for higher rate taxpayers to around £500. This is done by extending the percentage increase in spending between 2018-19 and 2019-20 for each sub-function for the plans year. Central General Local Total Welfare 57.6 0.0 55.2 112.7 Chancellor George Osborne introduces six more years of pain. On April 23, 2020 the Office for National Statistics (ONS) published its annual Public Sector Finan... UK GDP and Public Debt Update for 2020 The personal allowance threshold, the rate at which people start paying income tax at 20%, to rise from £11,850 to £12,500 in April - a year earlier than planned, The higher rate income tax threshold, the point at which people start paying tax at 40%, to rise from £46,350 to £50,000 in April, After that, the two rates will rise in line with inflation. This will be a boost to the take-home pay of millions of people. Current Budget Deficit 0.0 0.0 0.0 12.2 £23.8bn, £20.8bn and £19.8bn in next five years, Debt as share of GDP peaked at 85.2% in 2016-17, falling to 83.7% this year and to 74.1% by 2023-24, 1.2% annual average growth in departmental spending promised, Extra £500m for preparations for leaving the EU, Spring Statement next March could be upgraded to full Budget if needed, A commemorative 50p coin to mark the UK's departure from the EU, An extra £160m for counter-terrorism police, An extra £1bn for armed forces, for cyber-capabilities and the UK's new nuclear submarine programme, £10m for mental health care for veterans, to mark the centenary of the Armistice which brought World War One to an end, £1m to fund school trips to World War One battlefields, £1.7m in Holocaust education programmes to mark the 75th anniversary of the liberation of Bergen-Belsen concentration camp, in northern Germany, New 2% digital services tax on UK revenues of big technology companies, from April 2020, Profitable companies with global sales of more than £500m will be liable, Private finance initiative (PFI) contracts to be abolished in future, New centre of excellence to manage existing deals "in the taxpayer's interest", Annual investment allowance to be increased from £200,000 to £1m for two years, Contribution of small companies to apprenticeship levy to be reduced from 10% to 5%, Business rates bill for firms with a rateable value of £51,000 or less to be cut by third over two years, Measure to benefit 90% of independent shops, pubs and restaurants, cutting bills by £8,000, £900m in business rates relief for small businesses and £650m to rejuvenate High Streets, New 100% mandatory business rates relief for all lavatories made available for public use, Extending changes to the way self-employment status is taxed, from the public sector to medium and large private companies, from 2020, Confirmation of an extra £20.5bn for the NHS over the next five years, A minimum extra £2bn a year for mental health services, New mental health crisis centres, providing support in every accident and emergency unit in the country.

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