Budget 2016 - live
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Osborne is touting social justice by Conservative means, with the personal allowance rising to £11,500.The higher rate threshold is set to rise to £45,000, meaning half a million people will no longer pay higher rate tax.3/16/2016 1:36:38 PM -
"The storm clouds are gathering again," Osborne says, wrapping up.He wants the next generation to inherit a strong economy, to be better educated and to grow up healthier, with less sugar tax.3/16/2016 1:37:53 PM
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That's all from Osborne. Stay tuned for the response from the opposition.3/16/2016 1:38:36 PM
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The 40% rate is paid by roughly the highest 15% of earners - this is a big tax cut for them twitter.com/adamboultonSKY…by Jon Stone via twitter 3/16/2016 1:38:36 PM -
Paul Smith, partner at London Chartered Accountants Blick Rothenberg LLP, has responded to the delay to corporation tax:
Delaying the acceleration of the timing
of corporation tax for larger companies to April 2019 - this is helpful for
larger UK companies3/16/2016 1:39:30 PM -
Scottish lines #Budget2016
• Tax cuts for oil and gas
• Whisky duty frozen
• Diet Irn-Bru to be cheaper than normal
@BBCScotlandNewsby nickeardley via twitter 3/16/2016 1:40:04 PM -
Corbyn wastes no time sticking the boot in by calling Osborne's Budget "the culmination of his failures".Growth has been revised down every year from forecasts, Corbyn says. He sounds furious, and that tie's tied pretty tight too.3/16/2016 1:41:31 PM
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Jeremy Corbyn: "The Chancellor is blaming the chancellor in the last government- he *is* the chancellor in the last government!" #Budget2016by Jon Stone via twitter 3/16/2016 1:42:16 PM
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Corbyn says Osborne failed to balance the budget, as he promised.Osborne once said "we're all in it together". But the poorest have suffered the greatest disproportionate losses, reports have shown.3/16/2016 1:42:56 PM
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Corbyn reminds Osborne of his "march of the makers" quote. He says the manufacturing sector is now smaller."We are the builders," Osborne once said. But the housebuilding sector has stagnated, Corbyn says.3/16/2016 1:44:01 PM
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Jeremy Corbyn accuses George Osborne of wheeling out "mates rates deals on taxes for big corporations".by Jon Stone via twitter 3/16/2016 1:45:07 PM
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Osborne's Budget is for hedge fund managers, not small businesses, Corbyn says.3/16/2016 1:45:16 PM
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The Chancellor set himself a one trillion export target - but it's going to be missed "by a lot more than a country mile", Corbyn says.Corbyn calls out Osborne's rhetoric on the Northern Powerhouse - pointing out that a huge majority of initiatives in the North have been outsourced to London..@jeremycorbyn says North East accounts for less than 1% of planned government infrastructure construction projects. #Budget20161:46 PM - 16 Mar 2016
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3/16/2016 1:47:12 PM -
For those on zero-hours contracts - nearly a million people - don't even know what their income will be. We have the highest level of in-work poverty on record, Corbyn says.3/16/2016 1:48:35 PM
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Here's the #Budget2016 scorecard. Surplus largely hit by jiggery-pokery on corporation tax receipt timing? http://pbs.twimg.com/media/CdrIq5AXIAEPWHk.jpg
by Ben Chu via twitter 3/16/2016 1:48:59 PM -
Corbyn is taking aim at the Chancellor saying that £450,000 for a starter home is affordable. "It might be for his friends," Corbyn says.3/16/2016 1:50:09 PM
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We need to tackle the issue of homelessness by saying that everyone in society deserves a roof over their head, Corbyn says.Homelessness has soared under this Chancellor who continues to ignore the critical infrastructure priority of Council housing #budget20161:22 PM - 16 Mar 2016
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3/16/2016 1:50:57 PM -
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Corbyn says ministers have announced new homes in Ebbesfleet new town so many times its "built 12 homes per press release" there #Budget2016by Jon Stone via twitter 3/16/2016 1:51:23 PM
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Finally Corbyn picks up on Osborne's obsessive mentions of the next generation.He says that Osborne has no idea of the issues facing young people including
- High student debts
- Low wages
- Sense of injustice
3/16/2016 1:52:47 PM -
There's basically nothing in this budget about housing #Budget2016 #ukhousingby Jon Stone via twitter 3/16/2016 1:53:05 PM
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Corbyn welcomes money going into flood defenses, but picks up on cuts to fire services, the environment agency and for local government workers that worked during the crisis in December."Our policies invest in people," Corbyn says.3/16/2016 1:54:06 PM
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Corbyn says Osborne has done nothing to address the teacher crisis, huge class sizes and school shortages.3/16/2016 1:54:59 PM
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Osborne bring forward capex from 2019-20 to 2017-18 and 2018-19 #budget2016 . Improves finances in 2019-20: http://pbs.twimg.com/media/CdrKHl9WEAACw-K.jpg
by Ben Chu via twitter 3/16/2016 1:55:17 PM -
....but implies drop in state capex as share of GDP in 2019-20 http://pbs.twimg.com/media/CdrKO1gWIAAD9ZC.jpg
by Ben Chu via twitter 3/16/2016 1:55:47 PM -
Got a question about #Budget2016 ? We're taking them LIVE on Facebook later with @BenChu_ and @JohnRentoul . Contact social@independent .co.uk -
He welcomes the sugar tax. "If we as a society cannot protect our children from high levels of sugar then we have failed the nation," he says.But, he says, this is an issue that affects the NHS. Hospitals are facing huge problems. Our NHS needs the resources to address the health needs of the people, Corbyn says.3/16/2016 1:56:08 PM
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Corbyn agreed with Osborne on one thing: that the UK should stay in the EU.3/16/2016 1:58:00 PM
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George Osborne’s cuts to see ‘200,000 disabled people lose £3,000 a year’
The IndependentChancellor George Osborne’s cuts to disability benefits will cause 200,000 disabled people to lose almost £3,000 a year each, a Labour analysis has revealed. The analysis, cited by the Guardian, finds the decision to cut Personal Independence Payments (PIP) made to over 640,000 people in a bid to save the Treasury £1.2 billion, will remove 200,000 disabled people from the system.3/16/2016 1:58:04 PM -
Osborne mentioned the NHS twice in the text of his #Budget2016 speech - both times in passing. Nothing substantial in there about itby Jon Stone via twitter 3/16/2016 1:58:50 PM
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by Chris Mason via twitter 3/16/2016 1:59:13 PM -
"The price of failure is being borne by the weakest in our society," Corbyn says.He calls the Tories a "cruel and callous" government. The cuts made to day are a "political choice, not a necessity".Breathtaking hypocrisy from Chancellor - talks about support for disabled people having slashed disability benefits #ESA #budget201612:55 PM - 16 Mar 2016
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Corbyn says Labour will oppose these damaging choices and make the case for a recovery shared by all.Corbyn also wants to give young people more chances, he says.3/16/2016 2:02:44 PM -
Someone kept a tally of Osborne's obsessive mentions of young people:18 references to “next generation," plus 12 to “children” and 4 to “young people” #budget2016 (via @shelleylphelps)2:00 PM - 16 Mar 2016
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3/16/2016 2:03:35 PM -
Corbyn sits down - that's the end of Labour's response to the Budget.3/16/2016 2:04:10 PM
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Overall, Chancellor's budget speech reeks of hypocrisy. He talks about future generations whilst trashing their chances #Budget2016by Caroline Lucas via twitter 3/16/2016 2:05:07 PM -
Caroline Lucas, the Green Party MP for Brighton Pavilion, has said that the Chancellor’s “climate-wrecking” Budget has exposed the hypocrisy of the Government’s talk of putting the next generation first as “nothing short of hot air”.
Lucas slammed the Government’s “economic failure” and his “deepening attacks on those in need”.
This climate-wrecking budget shows that the Government’s talk of putting the next generation first is nothing short of sheer hypocrisy. If our Government was serious about creating a decent society for our children and grandchildren then they would be pulling out all the stops to support British firms and business in the renewable energy sector and to keep fossil fuels in the ground.
3/16/2016 2:12:56 PM -
The Independent is live with Ben Chu and John Rentoul on Facebook right now here.Log on and send them your questions.
3/16/2016 2:40:29 PM -
if you were busy watching #Budget2016 you may have missed that the Government accidentally didn't ban poppers ind.pn/21uYTW7by Jon Stone via twitter 3/16/2016 2:54:08 PM
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Here's what was in George Osborne's 2016 budget, at a glance
The IndependentThe Chancellor delivered his Budget to the House of Commons on the afternoon of 16 March 2016. Here are the main points.3/16/2016 3:19:33 PM -
Video commentary with @BenChu_ and me on @Independent FB page facebook.com/TheIndependent… (hand held for extra verité) -
Public sector net investment to dip to just 1.5% of GDP in order to secure Osborne's 2019-20 surplus #budget2016 : http://pbs.twimg.com/media/CdrgQK7XIAE5RGj.jpg
by Ben Chu via twitter 3/16/2016 3:32:00 PM -
Capital spending (CDEL) £100m lower over forecast period than at Autumn Statement #Budget2016 #infrastructure twitter.com/BenChu_/status… -
How accounting tricks and "unidentified cuts" delivered Osborne's 2019-20 surplus #budget2016 : http://pbs.twimg.com/media/CdrhtiXWIAAWrVv.jpg
by Ben Chu via twitter 3/16/2016 3:38:23 PM -
Four things George Osborne didn’t want you to know from the Budget
The Independent1. The Office for Budget Responsibility has become MUCH more gloomy about the UK’s economic outlook…3/16/2016 3:44:32 PM -
How George Osborne (almost) missed all three of his fiscal targets. My @Independent charticle: independent.co.uk/news/business/…by Ben Chu via twitter 3/16/2016 3:49:43 PM
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