47881_Budget_2015_Web_Accessible

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EISEPSRCEREUFBCFCAFCERMFCOFITsFLSFPCFTSEG7G20GAARGASDSGDPGLAGNIEnterprise Investment SchemeEngineering and Physical Sciences Research CouncilEntrepreneurs ReliefEuropean UnionFuel Benefit ChargeFinancial Conduct AuthorityFlood and Coastal Erosion Risk ManagementForeign and Commonwealth OfficeFeed in tariffsFunding for Lending SchemeFinancial Policy CommitteeFinancial Times Stock ExchangeA group of 7 major industrial nations (comprising: Canada, France, Germany,Italy, Japan, UK and US)A group of 20 finance ministers and central bank governors representing19 countries plus the European UnionGeneral Anti-Abuse RuleGift Aid Small Donations SchemeGross Domestic ProductGreater London AuthorityGross National IncomeHCAHomes and Communities AgencyHEFCEHigher Education Funding Council for EnglandHGVHeavy Goods VehicleHMRCHer Majesty’s Revenue & CustomsHMTHer Majesty’s TreasuryHS2 High Speed 2HS3 High Speed 3IAPTIFSIHTIMFILOISAJSALCFLEPLESALLCLOILTEPMPCNFRNICsNMWNRNRAMNS&IImproving Access to Psychological TherapiesInstitute for Fiscal StudiesInheritance TaxInternational Monetary FundInternational Labour OrganizationIndividual savings accountJob Seeker’s AllowanceLandfill Communities FundLocal Enterprise PartnershipLandlord’s Energy Saving AllowanceLondon Land CommissionLoss on IgnitionLong Term Economic PlanMonetary Policy CommitteeNet Financing RequirementNational Insurance contributionsNational Minimum WageNetwork RailNorthern Rock Asset ManagementNational Savings and Investments116 Budget 2015
OBROECDOGAONSOTSP2PPAIFPOTASPPLPRAPRRPRTPSCEPSFPSGIPSNBPSNDPSRR&DRBSRFESRHDIRPIRPMSSDLTSEISSGPSITRSMETfLTfNTMEUDCUKARUKCRICUKCSUKEFUKTIVATVBCVCTVEDVFXWTCOffice for Budget ResponsibilityOrganisation for Economic Co-operation and DevelopmentOil and Gas AuthorityOffice for National StatisticsOffice of Tax SimplificationPeer to PeerProperty Authorised Investment FundPromoters of Tax Avoidance SchemesPence per litrePrudential Regulation AuthorityPrivate Residence ReliefPetroleum Revenue TaxPublic Sector Current ExpenditurePublic Sector FinancesPublic Sector Gross InvestmentPublic Sector Net BorrowingPublic Sector Net DebtPayment System RegulatorResearch and developmentRoyal Bank of ScotlandRing Fence Expenditure SupplementReal Household Disposable IncomeRetail Prices IndexResidential Property Management ServicesStamp Duty Land TaxSeed Enterprise Investment SchemeStability and Growth PactSocial Investment Tax ReliefSmall and medium-sized enterpriseTransport for LondonTransport for the NorthTotal Managed ExpenditureUrban Development CorporationUK Asset Resolution LtdUK Collaboratorium for Research in Infrastructure and CitiesUK Continental ShelfUK Export FinanceUK Trade and InvestmentValue Added TaxVan Benefit ChargeVenture Capital TrustVehicle Excise DutyVisual effectsWorking Tax CreditBudget 2015117
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BUDGET 2015HC 1093March 2015
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© Crown copyright 2015This publica
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Executive SummaryWhen this Parliame
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Public sector net debt is forecast
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Chapter 2 sets out all measures ann
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Budget Report
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monetary policy and measures to sup
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Chart 1.2: International comparison
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developed countries. 19 The recent
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1.27 The UK economy faces a number
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1.39 Inflation fell markedly to 0.5
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Financial sector and other asset sa
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Fiscal forecast1.57 As set out in T
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Chart 1.6: Consolidation in the cyc
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shocks to the economy, even though
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and focus their budgets on providin
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of options to integrate spending ar
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Devolution1.95 The government conti
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Growth1.103 The UK economy had the
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Supporting business through the tax
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a 21 st century economy. The terms
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1.124 The broadband connection vouc
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country to get onto the property la
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network of high quality rail connec
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to support tourism in the North Eas
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South East1.174 Housing: Housing re
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1.185 The government will also prov
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Infrastructure Investment Bank (AII
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Fairness1.205 The government’s lo
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National Minimum Wage1.213 As annou
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1.225 The government will allow ISA
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1.235 Young people can develop ment
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estrict travel and subsistence reli
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Table 2.1: Budget 2015 policy decis
Page 70 and 71: Table 2.2: Measures announced at Au
Page 72 and 73: Public SpendingTotal Managed Expend
Page 74 and 75: Table 2.5: Departmental Expenditure
Page 76 and 77: 2.19 Integrating services for peopl
Page 78 and 79: Midlands2.40 High Speed Rail Invest
Page 80 and 81: International development2.63 Antim
Page 82 and 83: 2.78 Social investment - The govern
Page 84 and 85: new rules to target avoidance throu
Page 86 and 87: ••RAF Biggin Hill Chapel Memori
Page 88 and 89: materials incorporated in products
Page 90 and 91: 2.147 Tobacco Duty rates - As annou
Page 92 and 93: Environment and energy taxes2.170 A
Page 94 and 95: 2.191 Simplified expenses: legislat
Page 96 and 97: ••strengthen the descriptions o
Page 98 and 99: 2.226 Smart ATMs - The government w
Page 100 and 101: 2.242 Promoting the use of task-sha
Page 102 and 103: 2.264 Science grand challenge fundi
Page 104 and 105: 2.286 Northern powerhouse trade mis
Page 106 and 107: 102 Budget 2015
Page 108 and 109: Gilt issuance by maturity, type and
Page 110 and 111: Illustrative future gross financing
Page 112 and 113: Table C.1: Detailed summary of OBR
Page 114 and 115: Table C.3: Current Receipts: OBR fo
Page 116 and 117: Table C.5: OBR forecast of the head
Page 118 and 119: Table C.8: Changes to the OBR’s f
Page 122 and 123: LIST OF TABLESExecutive Summary1 Su
Page 124: HM Treasury contactsThis document c
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