Budget At A Glance

Income Tax

Income Tax

Standard and higher tax rates each reduced by 2 per cent. Bands widened for double-income couples, single people.

Pensions

Old age pensions rise £7 per week. Disability and widow's pensions rise by £4. Age allowance for taxpayers over 65 doubled.

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Childcare

£46 million to increase places but no extra financial support for parents. 100 per cent capital allowance for building for childcare.Health

Gross spending up to £4.2 billion. £23 million to be spent on waiting lists; £35 million for the elderly; £7.5 million for children.

Social Welfare

An extra £4 per week for the unemployed. Child benefit for first or second child up £8 per month. Up £10 per subsequent child.

Cigarettes

An extra 50p per packet of 20 cigarettes, VAT inclusive, from midnight last night. Revenue from this for Department of Health.

Business

Standard corporation tax rate cut from 28 per cent to 24 per cent. Companies earning less than £50,000 a year to pay 12.5 per cent.

Education

£5 million is being allocated in 2000 for education services for the disadvantaged and the development of youth services.

Inheritance

Thresholds to be raised and a standard capital acquisitions tax rate of 20 per cent to replace the current levels of 20, 30 and 40 per cent.

Economy

Inflation forecast to be less than 2.5 per cent per year until 2003, GNP to average 5.75 per cent, budgets in "substantial surplus".

Capital Tax

Capital gains tax reduced from 40 to 20 per cent. Those aged over 55 disposing of property more than 10 years old to be exempt.

Agriculture

Stamp duty relief on property transfers for young trained farmers continues to 2002 - applies to agricultural land and buildings.