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Budget 2012 - jamie745

This budget is probably the most leaked that I can remember, we appear to have a very clear idea of what will be announced in many areas rather than mere speculation. The headline news will be the raising of the tax threshold for low earners which the Chancellor hopes will drag attention away from an expected move to scrap or announce plans to scrap the 50p top rate of income tax, which is an extremely risky political move even if it does net far lower than originally planned.

The upshot of all that though is i doubt there will be any move on fuel duty, given the expense incurred by raising the tax threshold - apparently stamp duty on properties over £2million will rise from 5% to 7% as well to compensate - which is a shame, the rise will hurt families more, damage business further and harm the economy. The 'gain' for low earners will be wiped out by fuel increases and despite the Commons voting to bring fuel prices down last year it seems the Chancellor will actively disregard that and increase it anyway.

It remains to be seen what other motoring related news will come out of this budget, i've heard no word on any VED increases or anything. We wait with vague interest.

Budget 2012 - Avant

Good summary of the leaks so far - let's see whether they are accurate. Probably will be.

We've come a long way from 1947 when the Chancellor (Hugh Dalton) had to resign because some of his Budget was leaked. Nowadays leaking seems to be a way of life.

Budget 2012 - jamie745

Leaks are universally accepted now although theres been more than usual this year. Probably due to the fact theres two parties and multiple people involved in putting it together, the Chancellor doesnt go into a dark room and write it himself anymore. Theres two parties, both with different priorities who want their message heard and all of their staff and entourage are in these meetings as well. It doesnt take long for something notable to end up in a newspaper.

Other leaks include a plan to 'aggressively' crack down on tax avoidance, particularly in regards to Stamp Duty.Well off non-doms to see their annual charge increased from £30k to £50k and probably the joint-top story of the budget alongside the tax threshold is a relaxing of planning laws, which the Independent is set to describe as a 'builders charter' in tomorrows papers. Other news will include a relaxing of Sunday trading laws for the olympics which may lead to a permanent change and financial forecasts will apparently predict Government borrowing below £100billion for the first time since the economic meltdown and inflation slightly down and closer to the Bank of England's target.

Budget 2012 - veryoldbear

Like jamie I "await with vague interest". I expect we'll all be clobbered again, but there ain't much we can do about it. We are not like the French, who rebel, riot and burn sheep.

Budget 2012 - jamie745

Well here we are, the Chancellor has once again smashed the motorist to pay for his failing economic plans. Another increase in fuel tax, another increase in car tax. This guy really does want to destroy Britain doesnt he?

Budget 2012 - veryoldbear

I can just about afford a few litres of petrol. Let's go burn some sheep.

Budget 2012 - jamie745

Its not surprising the 3p rise has gone ahead, its the fact it was planned in the first place which is quite galling. Petrol is already 40-50p overpriced and still too many people dont realise its mostly due to Government tax, the oil price excuse is not valid.

At the very least there are no further increases planned and the VED rise is 'inflation only' which will probably be £10 added to most bands (again). Hopefully there will be more protests between now and August, the public and particularly the businesses he claims he's aiming to help with this budget.