英伦广角 2009-04-26 英未来5年将举债7000亿（在线收听）

He forecasts the economy will shrink by 3.5% this year, and to put it into context that is a big downward revision from his prediction in November of a shrinkage of 1.25%. But he did say the economy will start to recover by the end of this year. And he predicts that next year it’s gonna grow again by 1.25 % and in 2011 he forecasts the economy will grow by 3.5%.

Now as far as government borrowing is concerned, he expects this financial year that it will hit 175 billion pounds, that’s up from 118 that was his prediction in November. It will fall back to 173 billion in 2010, 2011 and down to 140 billion in the year after that, 2011 to 2012. So it hasn't got a great deal of money to spend, however it has been billed as a budget for jobs and the Chancellor is giving an extra 1.7 billion pounds for the Job Center Plus Network as well as additional help for people who’ve been out of work for more than 12 months. He also announced a guarantee of job or training places for under 25s who’ve been out of work for more than a year.

Now he also announces there is gonna be help for green industries, and housing, including an extension of the Stamp Duty Holiday for properties under 175,000 pounds that will now go on until the end of this year. There will as anticipated be that Car Scrappage Scheme where cars older than 10 years will be worth up to 2000 pounds towards a new model. The government will give you 2000 pounds if you choose to scrap your old car and decide to buy a new one.

And there is also help for savers. Now the annual limit for tax-free ISA (Individual Savings Account) is gonna up from 7,200 pounds to 10,200 pounds. Now, the, new, new limit will be introduced this year for the over 50s, and next year, it’s gonna apply to everybody else.

But how the Chancellor is gonna claw some of that money back? Well he said there’s gonna be no changes on income tax this year, but from April 2011, pension tax relief for those with high incomes, incomes over 150,000 are going to be restricted. Now there is also gonna be a new tax rate of 50% for those of people who’re earning more than 150,000 pounds. That’s gonna be introduced next April. Now that’s a rise from the new 45% rate that he announced in November and it’s coming in a year early.

The old tax favorites also took a hit. Fuel duty is gonna increase by two pence a litre from September. And the sin taxes haven’t escaped either. Alcohol duty is gonna go up by 2% from midnight tonight.