The Budget 2013 in bullet points

Here's a round-up of the key points from the Budget 2013:

Tax

• Employment Allowance - worth up to £2,000 for every business employing staff
• Personal income tax allowance raised to £10,000 by 2014
• Beer Duty escalator scrapped and beer duty reduced by 1p
• Fuel Duty increase planned for September cancelled
• Tax-free childcare vouchers - 20% off first £6,000
• Capital gains tax relief for sales of businesses to their employees
• Govt. to introduce 'largest ever' package of tax avoidance & evasion measures
• Bank Levy rate increased to 0.142% next year
• Corporation tax reduced by 1% to 20% in April 2015
• Stamp duty on shares in AIM scrapped
• Research & Development Credit increased to 10%

Housing/Mortgages

• Mortgage Guarantee Scheme - offering £130bn of help to help unable to raise deposit required by lenders
• Shared equity loans for borrowers of new homes worth up to 20% of value

Pensions

• New single tier pension brought forward to 2016

Public Sector Pay

• Public sector pay rises limited to 1% for further year
• Military personnel to be exempt from 1% public sector pay cap

Economy

• Bank of England's Monetary Policy Committee to get new powers MPC remit and permitted to use unconventional tools
• CPI inflation target still to be 2% target.
• Borrowing forecast for this year at £114bn
• Growth forecast for 2013 revised down by 0.6% to 0.6%