The Autumn Statement 2013: What It Means For Businesses

THE AUTUMN STATEMENT 2013: WHAT IT MEANS FOR BUSINESSES In his autumn statement George Osborne declared the UK deficit will be eliminated by 2019. The biggest news for many will be a 2% business rate cap from next April. BENEFITS & PENSIONS TAXES & ALLOWANCES The state pension age is to increase to 68 in the mid-2030s and to 69 in the late 2040s. In April 2014, the state pension will rise by £2.95 a week. The state pension age is to increase to 68 in the mid-2030s and to 69 in the late 2040s. In April 2014, the state pension will rise by £2.95 a week. People in their 40's get state pension at: Employer National Insurance contributions are to be scrapped on: 68 1.5 MILLION JOBS People in their 30's get state pension at: 69 Stamp duty on shares purchased in exchange traded funds is to be: ABOLISHED JOBS & TRAINING The number of people claiming unemployment benefits is down by: From April 2014, the personal income tax allowance will rise to: 200,000 £10,000 This year, the total number of jobs will rise by: From April 2015, employer National Insurance contributions for the under-21s will be: 400,000 ABOLISHED (with the exceptionof those earning £42,285 or more) GOVERNMENT BORROWING ECONOMIC GROWTH Borrowing is expected to come in at £111bn for this year, falling in 2014-15 to £96bn, then down to £79bn in 2015-16, £51bn the year after and £23bn the year after that. Growth forecast for this year increased from 0.6% to 1.4%, revised up for next year from 1.8% to 2.4%, but then down slightly for the following three years to 2.2%, 2.6%, and 2.7%. Public debt this year is due to total 75.5% of GDP rising to 78.3% next year, before peaking at 80% the next year. 2013 2014 2015 2013 2014 BROUGHT TO YOU BY: PRODUCED BY: fundingstore.com" ATTWOOD EDIGITAL Find people and finance that work for your business http://money.aol.co.uk/2013/12/05/autumn-statement-2013-what-is-means-for-business/ http://www.bbc.co.uk/news/uk-politics-25232742 https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/263575/ Autumn_Statement_2013.pdf AttwoodDigital.com