2008 United Kingdom budget

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2008 United Kingdom Budget
Royal Coat of Arms of the United Kingdom (HM Government).svg
Presented12 March 2008
CountryUnited Kingdom
Parliament 54th
Party Labour
Chancellor Alistair Darling
Total revenue£575 billion [1]
Total expenditures£618 billion [1]
Deficit £43 billion
Website Budget 2008
Numbers are projections.
  2007
2009

The 2008 United Kingdom Budget, officially known as Budget 2008: Stability and opportunity: building a strong, sustainable future , was formally delivered by Alistair Darling in the House of Commons on 12 March 2008. It was the first Budget to be delivered by Darling, who had been appointed Chancellor of the Exchequer the previous June.

Contents

Among the changes from the previous year were that taxes on alcohol, cigarettes and high-polluting cars would be increased. [2] Child Benefit would be raised to £20 a week from April 2009; winter fuel payments for pensioners would also be increased. [2] All long-term recipients of Incapacity Benefit would have to attend work capacity programmes from April 2010. [2]

The growth of the national economy was expected to slow down to approximately 2% in 2008, down from 3% in the previous year. [2]

Details

Taxes

  1. Income Tax (28.0%)
  2. National Insurance (18.0%)
  3. Value Added Tax (VAT) (15.0%)
  4. Corporate Tax (9.00%)
  5. Excise duties (7.00%)
  6. Council Tax (4.00%)
  7. Business rates (4.00%)
  8. Other (15.0%)

Spending

Department2008-09 Expenditure (£bn)
Social protection169
Health111
Education82
Debt interest31
Defence33
Public order and safety33
Personal social services27
Housing and Environment23
Transport21
Industry, agriculture and employment22
Other67
Total Government spending618

Notes

  1. 1 2 "Budget 2008: Stability and opportunity: building a strong, sustainable future" (PDF). HM Treasury. Archived from the original (PDF) on 4 July 2012. Retrieved 28 February 2012.
  2. 1 2 3 4 "At-a-glance: Budget key points". BBC. 12 March 2008. Retrieved 28 February 2012.