Knowledge Flashcards
What has Rachel Reeves increased the basic rate capital gains tax on profits from shares from and up to?
From 10% to 18%
What has Rachel Reeves increased the higher rate of capital gains tax on profits from selling shares from and to?
From 20% to 24%
What has the companies National insurance contributions on salaries above £5000 changed from and to?
13.8% to 15%
What has the Employment allowance (which allows small businesses and charities to reduce their NI bill) increased from and to?
From £5000 to £10,500
What is the legal national minimum wage for over 21s changing from and to?
£11.44 to £12.21
What is the legal national minimum wage for 18-20 year olds changing from and to?
£8.60 to £10
How has Rachel Reeves changed the cap on bus fares in places in England outside London and Greater Manchester?
Increased from £2 to £3
Where has she committed to focusing tunnelling work on to take the HS2 high- speed rail line to?
Euston station
What will Air Passenger Duty go up by in 2026 for short-haul economy flights?
£2
What will Air Passenger Duty go up by for long-haul economy flights in 2026?
£12
How much extra is being invested into repairing potholes in England?
£500 million
What tax has been introduced on vaping liquid?
Flat-rate tax of £2.20 per 10ml of vaping liquid
What is Inflation at the moment?
2.5%
What percent is day-to-day spending on NHS and education set to rise by in England in real terms?
4.7%
How much extra funding will local councils receive?
£1.3 billion
What will the Stamp Duty surcharge paid on second home purchases in England and Northern Ireland go up from and to?
From 3% to 5%
How have the Labour government loosened the definition of UK government debt?
Included a wider range of financial assets, such as future student loan repayments
How much will UK borrowing increase by this year?
£19.6 billion
How much did Jeremy Hunt invest in NHS digitisation in the 2024 spring budget?
£3.4 billion
How much has Rachel Reeves allocated for core research funding?
£6.1 billion
How many more homes do Labour plan to build?
1.5 million
By what percent did Jeremy Hunt cut National insurance tax contributions for employees
2% (from 10% to 8% for employees)
List a free trade agreement
Uk- Australia (2021)
Uk- New Zealand (2022)
What is the Royal Docks Enterprise Zone?
An area that offers incentives such as tax breaks and simplified planning regulations
How many jobs does the Royal Docks Enterprise Zone aim to create and how many homes?
35000 jobs and 4000 homes
How high was inflation in October 2022?
11.1%
How much net interest payments on debt is expected to be paid in 2024-2025
£104.9 billion
Roughly how much National Debt is the UK government in?
£2.7 trillion
How big was the budget deficit last year (2023/24)?
£131 billion = 4.8% of GDP
