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Vice-President,
Today, I present to the House a budget for the future of Great Britain.
A budget that shows the perseverance of the British people who is finally bearing fruit.
A budget for hardworking families who live far from home and care little about Westminster politics.
People who get up early in the morning to open factories, shops and construction sites and drop off their kids at school to watch their elderly parents and neighbors.
Workers, clerks and caregivers who are the backbone of our communities and our economy.
People who only ask the government to protect the jobs that put food on their table, provide the public services that their families depend on and do it effectively, minimizing the amount of taxes we have to get from their salaries hard earned.
The people we on this side of the House are proud to represent.
So I tell them. This budget is without shame for you.
Mr Vice-President, the British people trusted us to do the job. Today, we are rewarding this trust with a budget that paves the way for a better tomorrow.
And, Mr. Vice-President, let me understand why. The difficult decisions of the last eight years are not driven by ideology, but by necessity. And, as always, we did what we had to do.
We are now at a decisive moment for this long and difficult journey. Open a new chapter in the economic history of our country. Where we can look to the future with confidence and chart the way forward for the future of this remarkable country.
Mr Vice – President, I can today inform the British people that their hard work is bearing fruit and that the era of austerity is coming to an end.
Mr Vice-President, I am sure, as I do, that many Members remember very well the last budget presented on Monday 1962. I was 6 years old, tensions between Russia and the United States were rising and a Former foreign secretary turned chancellor, referred to by some as "stubborn" and "tough", presented a budget amid the Cabinet revolt.
And I remember my parents turning to me and saying: Philip, it could be you someday.
Mr. Vice-President, there has been a lot of speculation in the media about today's budget schedule. Some were hoping for a budget for December.
I'm sure the editors of the title were ready with, "Spreadsheet Phil turns into Santa."
Others were desperate for it to be Wednesday, "House of Hammo Horrors," perhaps.
But the truth is that by choosing today rather than Wednesday, I did not avoid the bloody threats, the anguished crying and the strange fuss of the furniture.
I was kindly invited to a special committee meeting of 1922 tonight.
Vice-President, our economy continues to confuse those who denigrate it and we continue to focus resolutely on the challenges and opportunities ahead of us to build a new relationship with our European neighbors, a new future outside of Europe. the European Union.
In doing so, let us not forget the remarkable results achieved by the British people with regard to the aftermath of the recession.
The British have a record they can be proud of:
- Eight consecutive years of economic growth, more than 3.3 million additional jobs
- Increased employment and reduced unemployment in all regions and countries of the United Kingdom
- Wages are growing at their fastest pace in almost a decade
- An economy rebuilt
- An economy that works, not for a few, not even for the multitude, an economy that works for everyone.
Mr Vice-President, we are at a turning point in our negotiations with the EU and the stakes could not be greater.
Do it right, and we will not only protect the jobs, businesses, and prosperity of Britain, but we will also reap a double dividend deal.
A boost from the end of the uncertainty and the release of part of the fiscal space that I hold in reserve at the moment.
We are confident that we will reach an agreement offering this dividend.
Confident, but not complacent.
We will continue to plan for all eventualities, and I will do so when I present this budget in a three-pronged approach.
Firstly, I have already allocated £ 2.2 billion to the departments for the Brexit preparations and, in the autumn budget of last year, I reserved £ 1.5 billion additional books for 2019-20.
Today, I am increasing this amount to £ 2 billion and, in the coming weeks, the Secretary General will announce the badignments to the various departments.
Secondly, I will maintain the room for maneuver I have in the fiscal rules set out in the Spring Declaration, while maintaining the firepower needed to intervene if the economy needs more support in the months to come. .
And thirdly, as I have been clear since the autumn budget, if the economic or budgetary outlook changes significantly during the year, I will take the appropriate measures, including, if necessary, reserving the right to transform the spring declaration into a complete tax return. Event.
Mr Vice-President, Parliament can be convinced that we are working to achieve the best possible result for Britain while preparing for any eventuality.
Mr. Vice President, I will first report to the House on the economic forecasts of the independent OBR and I thank Robert Chote and his team for their work.
The RBO expects growth to be resilient throughout the forecast period, from 1.3% in the spring to 1.6% and 1.4% in 2020 and 2021; 1.5% in 2022; and 1.6% in 2023.
Mr. Vice-President, the current government's priority is to get people working, because the best way to help them is to provide them with the stability of a pay package every month.
Since 2010, more than 3.3 million additional people have been working and the OBR now confirms that the "job miracle" is expected to continue in Great Britain, revising labor market participation and the "labor market participation rate". the country's "equilibrium unemployment", providing 800,000 additional jobs by 2023.
According to my calculations, more than 4.2 million net new jobs have been created since 2010.
But now we need to focus on wages and the proportion of low-paid jobs at its lowest level since 1997, with steady wage growth of 3.1%, the strongest in almost 10 years and average inflation of 2% next year. The OBR expects sustained growth in real wages over the next five years.
I am now coming to the budget estimates.
We inherited the highest budget deficit in our history in peacetime.
But after eight years, the hard work of the British people is paying off and we will not waste their efforts.
Today's forecast, which takes into account all the announcements published since the Spring Declaration, including the measures that I will announce today, show a deficit of nearly 10% to less than 1.4% next year and only 0.8% by 2023-24.
Borrowings this year will be £ 11.6 billion lower than the forecast in the spring release, representing only 1.2 percent of GDP, and then expected to rise from £ 31.8 billion in 2019/20 to:
- £ 26.7 billion in 2020-2021
- £ 23.8bn in '21' – '22'
- £ 20.8 billion in '22-23 & # 39;
- and £ 19.8 billion in 2023-24, its lowest level in more than 20 years
We achieve our objective of structural borrowing three years earlier and borrow only 1.3% of GDP in 20-21, maintaining a leeway of £ 15.4 billion compared to our goal of 2% budget rules.
We do not borrow at all to finance current expenses.
And today, the OBR confirms that our national debt has peaked at 85.2% of GDP in 2016/17, and then decreases every year in the forecast, compared to 83.7% this year; at 74.1% in 23-24.
It's lower every year than expected in the Spring Declaration, and that means we're meeting our goal of seeing debt fall three years ago, a turning point in our country's recovery.
Our two tax rules respected; two years ago.
So, Mr. Vice President, Fiscal Phil said: The tax rules are correct.
But, Mr. Vice-President, I've always been clear:
Sound public finances are essential, but they are not an end in themselves.
So, since I am Chancellor, I have taken a balanced approach, injecting an additional £ 60 billion into our public services and our investments in our future, reducing taxes by 31 million people and thus reducing borrowing and the reduction of our national debt.
We must now do more, and thanks to the hard work of the British people, we can do more in this budget.
In the spring statement, I said that our prudent management of public finances was starting to pay off and if the improvement at that time continued, I would be able to provide greater support to our public services on a sustainable basis.
The OBR today confirms a significant improvement in our public finances, an improvement which underlines the hard work of the British people and the management of this economy by the government since 2010. Which means that I can keep the promise that I had made in the spring.
Set a new path for public spending and a clear vision for the British people of the fruits of their hard work.
Next year, we will conduct a comprehensive expenditure review, setting our public spending priorities in a sustainable funding envelope, deciding on the right balance between investment in the future and the future. the current consumption of public services by Great Britain.
Today, I have defined a five-year indicative path for departmental spending on RDEL resources, as public finance aficionados know.
As a reminder, Mr. Vice-President, in Expenditure Review in 2010, the average annual real growth was -3%. In 2015 Expenditure Review, it was -1.3%.
From next year, the average annual real growth will be + 1.2%. But this is not the limit of my ambition.
When our negotiations with the EU come to an agreement, as I am sure they will, I expect the "dividend of the agreement" to allow us to provide additional funding for the examination of expenses.
The hard work of the British people is bearing fruit. Austerity is coming to an end.
Now, Mr Vice President, you will know better than anyone that every Chancellor likes to have a hat rabbit in the approach of a budget, but this year some of my star rabbits seem to be escaped a little earlier!
In June, my HRF, the Prime Minister, announced the largest cash commitment ever made by a peacetime government to our public services. A five-year, £ 84 billion contract for our precious NHS.
And let me be clear: we are delivering this historic GBP 20.5 billion increase for the entire NHS over the next five years.
So, in an important sense, we made our big choice for this budget, four months before its presentation.
And it was the right decision: our NHS is the number one priority of the British people; and as we approached the 70th anniversary of its foundation, they had the right to know the extent of our commitment.
But the British are also concerned that the money invested in the NHS serves in the front line and in improving services.
So we did not just give money, we agreed that the NHS would develop a 10-year plan to reform the service, reduce waste and what the British can expect for their money.
This plan will be published shortly. But I will give the House a taste today:
There are many pressing demands for additional funding from the NHS, but little more pressing than those with mental illness.
And today, I can announce that the NHS Ten-Year Plan will include a new mental health crisis management service with comprehensive mental health support available in all major surgical centers and clinics. # 39; engineering. Crisis teams for children and youth in all regions of the country, more mental health ambulances, more "shelters" in the community and a 24-hour emergency hotline for problems mental health.
With these new services, people in crisis, young and old, will be able to get the help they need to end the stigma that has forced too many people to suffer in silence and to put end the tragedy of too many lives lost to suicide.
We are proud to have made this extraordinary commitment to fund our NHS.
Mr. Vice President, departmental expense allocations will be determined when reviewing spending next year. However, in a few areas, I will provide additional support now to provide the certainty needed for planning.
Local governments have made a significant contribution to fiscal consolidation, and this budget provides local councils with more resources to deliver high quality public services.
We give boards greater control over the funds collected under the precept for adult social care, through our plans to maintain business rates starting in 2020 and removing the cap on the income account. housing so that councils can help build the houses the country needs.
We will soon publish our Green Paper on the future of social services, in which we will outline the sometimes difficult choices to make our social protection system sustainable in the future.
But I recognize the immediate pressures that local authorities face in terms of social protection.
So today we are relying on the £ 240 million winter pressures for social care announced earlier this month. I will make available an additional £ 650 million of grants for the UK authorities for 2019-2020 and an additional £ 45 million for disabled facilities in England in 2018-2019.
And we will be investing an additional £ 84 million over the next five years to expand our child welfare programs to 20 other boards that are hosting a large or growing number of children in care, which allows boards of trustees to take action. improve services for the elderly, people with disabilities and for children in care now while long-term funding decisions will be made during the expenditure review.
Mr Vice-President, the United Kingdom spends more money on defense than any other member of NATO, except for the United States. but over the past year, we've had strong reminders about the scale, scope and complexity of the threats we face.
The Secretary of Defense of my RHF is working with the Cabinet and the Treasury to conduct a review of the modernization of our armed forces in response to the growing threat that will form the basis for a thorough review of defense spending next year .
But as a former secretary of defense, I understand the immediate pressures our armed forces are facing.
So I'm going to provide an extra £ 1bn today to cover the rest of the year and to strengthen our cyber capabilities and our anti-submarine capability and keep up the Dreadnought program to ensure deterrence continues at sea.
We are proud of our armed forces and we will always support them with the necessary investments to ensure the security of our country.
And, Mr. Vice-President, our armed forces are not the only ones to ensure our safety.
Our counterterrorism police play a vital role in Britain's defense against the ever-evolving threats we face.
In 2015, we committed to spending 30% more on counterterrorism capabilities during the current spending review period.
And today, I am committing additional funding of £ 160m to the counterterrorism police in 2019-2020 to protect the counter-terrorism police force and allow its future funding to be taken into account during the expenditure review phase.
I recognize that the police, more generally, are under pressure from the changing nature of crime.
I also recognize the statements made on this subject by many colleagues, such as my colleague HF, the member for South-West Bedfordshire, and I can tell the House today that the Secretary of State Human Resources will review the spending power of the police and other reform options when it will present the report. interim settlement of the police financing in December.
Mr Vice-President, as I have already pointed out because of the hard work of the British people, this year's public borrowing is much lower than expected.
This allows us to provide additional support to the utilities during the expenditure review and contributes to the significant reduction of the debt forecast this year.
But I also want to use this good news to give a little back, where it can be put to use, during this exercise.
Mr Vice-President, this year marks a century since the end of the First World War. And as we remember our fallen soldiers, whose sacrifice provided the freedom we enjoy today, many projects raise funds for veterans' charities through the sale of commemorative items on which VAT is collected.
Now we can not give up the VAT due on these sales.
But we can donate with the VAT that we will receive and I am committing myself today to mark the centenary of the Armistice by the Treasury by making a donation of 10 million pounds to the trust of the Armed Forces alliance funds to help veterans with mental health issues.
Many halls of our country were built to commemorate the sacrifice of the First World War and many are being renovated to commemorate the centenary.
I will also fund grants equivalent to the VAT payable on such renovation projects.
And as our goal goes from World War I birthdays to the second, I will also spend £ 1.7 million on education programs in schools to mark the 75th anniversary of the liberation of concentration camps. Bergen-Belsen, so that the next generation hear stories of those who survived the Holocaust and British soldiers who liberated them because, as we are reminded of the terrible events of Pittsburgh this weekend, the battle against Anti-Semitism did not end with the defeat of Nazi Germany.
Throughout England, our air ambulance services work tirelessly to ensure that people with life-threatening illnesses and injuries are quickly treated with the specialized medical care they need, fully funded by philanthropy. They do a fantastic job. Today, I earn £ 10 million to help them continue to do so.
Mr. Vice-President, we are investing record amounts in our schools and this investment is paying off as 86% of schools were judged good or outstanding, compared to 68% in 2010.
But I recognize that school budgets often do not go beyond this extra kit that makes such a difference. I am therefore announcing today a £ 400 million bonus to help our schools buy the little extras they need, namely a one-time lump-sum payment directly to schools of outstanding value. average of £ 10,000 per primary school and £ 50,000 per secondary school.
Mr. Vice President, I have one last measure in the year to announce:
All MPs will testify that potholes are high on the list of public concerns.
As the fall approaches, I immediately put an additional 420 million pounds at the disposal of the local road authorities to combat potholes, bridge repairs and other minor work carried out during this period. exercise.
But, Mr. Vice-President, if we want world-clbad, sustainable public services and a high standard of living, we must make the long-term reforms necessary for our economy to meet the challenge of productivity, prepare our country for change. future technology and show the next generation that our market The economy can again evolve to meet the needs of the new age.
Because "ending the austerity" is not just about financing public services; It's about real wage growth and leaving more hard-earned money by the people in their pockets.
It is the nation of the industrial revolution of Stephenson, Whittle, Lovelace, Faraday, whose ideas have shaped the world around them.
And today, Britain can once again lead the world as we exploit a new wave of scientific and technological discoveries from our universities and research institutes.
And we can solve the problem of productivity if we are ready to consider the future to make the choice to invest in infrastructure, research, skills and in our regions to manage change without hiding it .
Mr. Vice-President, I believe pbadionately in this agenda.
However, even though I admitted that in the last two budgets, I might have provided the House with a little more detail on productivity and technological innovation than was strictly necessary!
Mr Vice-President, I will therefore leave this time in the red book of the budget to further define the many measures we will take today, including our commitment to technology with £ 1.6 billion in new funding. investments to support our modern industrial strategy, from nuclear to nuclear. merger with quantum computing and £ 150 million scholarships to attract the best talent on these shores around the world so that our scientific research continues to dominate the world and our commitment to infrastructure, further expanding the National Investment Fund for Productivity – to more than £ 38 billion by 2023-2024, total public investment will increase by 30%, reaching its highest level in 40 years, investing in road, rail, digital and research infrastructures that will feed the country in the 21st century.
Mr Vice-President, half of the £ 600 billion infrastructure portfolio in the United Kingdom will be built and financed by the private sector.
And in the financing of public infrastructure, I remain committed to the use of public-private partnership in that it offers added value to taxpayers and really transfers risks to the private sector.
But there is compelling evidence that the Private Finance Initiative does neither one nor the other.
We will honor existing contracts. But the days when the public sector is a kid's game, must end. We will create a center of excellence to actively manage these contracts for the benefit of taxpayers from the health sector.
And we will go further.
I have never signed a PFI contract as Chancellor and I can confirm today that I will never do it. I can announce that the government will eliminate the use of PFI and PF2 for future projects.
Mr. Vice-President, we are investing in our country's infrastructure and supporting the technologies of the future, but we know that the true engine of growth is business.
Because I want Britain to be one of the big winners of the technological revolution. We will always support the companies and the market economy that underpins them, because we know that this is the only way to build tomorrow's high-paying, highly-skilled economy.
As we finalize our departure from the EU and conclude an agreement guaranteeing Britain's future trade, we must release the investment necessary for our future prosperity.
So today I can announce a set of measures to stimulate business investment and send a strong and clear message to the rest of the world:
Britain is open for business:
I increase the annual investment allowance from £ 200,000 to £ 1 million for two years, in accordance with a longstanding request from the UK Chambers of Commerce;
I provide targeted relief for the acquisition costs of IP-rich businesses;
And introduce permanent tax relief for new buildings and non-residential buildings partially funded by an adjustment of 8% to 6% of the special depreciation rate applicable to long-lived badets, in order to better align the tax and accounting treatment of these badets;
To support UK exports, we will increase UKEF's direct lending facility to £ 2 billion.
We will open the use of electronic pbadport counters at Heathrow and at other airports currently reserved for EEA nationals to include visitors from the United States, Canada, New Zealand, the United States and the United States. Australia and Japan;
And we will provide additional funding of £ 200 million to the British Business Bank to replace access to the European Investment Fund, where appropriate.
We will support another 10,000 entrepreneurs by extending start-up financing until 2021;
And following the CSF's presentations, I extend the New Business Allowance – providing mentoring and support to benefit claimants to realize their business ideas.
And thanks to the thanks to the MP for Thirsk and Malton, we are working with FCA to expand access to the financial mediator service for large SMEs. In addition to encouraging businesses to invest and grow, we will also ensure that UK workers have the skills they need to thrive and thrive.
We have set up a new level T professional training system, invested the first 100 million euros in the new national reconversion program and, thanks to the apprenticeship tax, we propose 3 million students. 39 high-quality apprentices in Parliament.
But this system is paid for by employers and it must work for employers.
So today, in addition to the flexibilities I announced earlier this month, I can announce that for small businesses hiring apprentices, we will cut the amount of their contribution by half, which goes from 10% to 5%.
Au total, un paquet de 695 millions de livres sterling destiné à soutenir les apprentissages.
Monsieur le Vice-président, notre système fiscal doit évoluer au rythme de l'évolution de notre économie à l'ère numérique, pour nous badurer qu'il reste équitable et solide contre les abus et qu'il génère les revenus dont nous avons besoin pour financer nos services publics.
L’allocation d’emploi a été introduite pour inciter les entreprises à engager des employés.
Mais à un taux forfaitaire de 3 000 £ par employeur, cela ne constitue pas une véritable incitation pour les gros employeurs. Dès avril 2020, nous allons donc cibler les petites et moyennes entreprises avec une facture des employeurs de NIC inférieure à 100 000 £ par an.
Nous alignerons également le traitement des pertes en capital des plus grandes entreprises sur celui des pertes de revenus;
Monsieur le Vice-président, nous nous engageons aujourd'hui à maintenir les maisons familiales à l'abri de l'impôt sur les gains en capital, mais certains aspects de l'allégement de la résidence privée vont au-delà de cet objectif et accordent une aide aux personnes qui n'utilisent pas leur domicile comme résidence principale.
Ainsi, à partir d'avril 2020, nous allons limiter l'allégement des loyers aux propriétés pour lesquelles le propriétaire occupe une occupation partagée avec le locataire et réduire l'exemption de la dernière période de 18 à 9 mois.
Monsieur le Vice-président, j’ai reçu des déclarations tendant à ce que j’abolisse le secours aux entrepreneurs et à utiliser les économies réalisées pour financer nos engagements au titre du NHS.
Mais je ne pense pas que nous puissions avoir des services publics viables sans une économie dynamique.
Et encourager les entrepreneurs doit être au cœur de notre stratégie.
Je maintiendrai donc l'aide aux entrepreneurs, mais pour que les vrais entrepreneurs en bénéficient, je vais prolonger la période de qualification minimale de 12 mois à 2 ans.
Monsieur le Vice-président, depuis le dernier budget, nous avons exploré toutes les pistes pour remédier à l’effet néfaste de l’enregistrement de la TVA, mais nos options sont limitées par le droit de l’Union européenne.
Nous continuerons à travailler sur cette question à mesure que notre futur régime de TVA deviendra clair au cours des prochaines années.
Entre-temps, pour donner une certitude aux petites entreprises et, en réponse aux déclarations de mon HF, le député de Mid Worcestershire, le FSB et d’autres, je laisserai le seuil inchangé pour deux années supplémentaires.
Monsieur le Vice-président, les règles de travail sur la paie, connues sous le nom de IR35, sont conçues pour garantir l'équité, de sorte que les personnes qui travaillent côte à côte dans un rôle similaire pour le même employeur paient les mêmes taxes sur l'emploi.
L'année dernière, nous avons modifié la manière dont ces règles sont appliquées dans le secteur public. Mais le non-respect généralisé existe aussi dans le secteur privé. Ainsi, à l'issue de nos consultations, nous appliquerons également les mêmes modifications aux organisations du secteur privé.
Toutefois, après avoir écouté attentivement les observations formulées au cours de la consultation, nous reporterons ces modifications à avril 2020 et nous ne les appliquerons qu'aux grandes et moyennes entreprises.
Monsieur le Président suppléant, il existe un exemple remarquable dans lequel les règles du jeu doivent évoluer maintenant si elles veulent suivre l'évolution de l'économie numérique:
Les plates-formes numériques proposant des moteurs de recherche, des médias sociaux et des marchés en ligne ont changé notre vie, notre société et notre économie, principalement pour le mieux.
Mais ils représentent également un véritable défi pour la durabilité et l’équité de notre système fiscal.
Les règles n'ont tout simplement pas suivi le rythme de l'évolution des modèles commerciaux.
Et il n’est clairement pas soutenable, ni juste, que les entreprises de plateformes numériques puissent générer une valeur substantielle au Royaume-Uni sans payer d’impôt ici.
Le Royaume-Uni a été à la tête des tentatives visant à mettre en place une réforme de la fiscalité des entreprises à l'ère numérique.
Un nouvel accord mondial est la meilleure solution à long terme. Mais les progrès sont douloureusement lents. Nous ne pouvons pas simplement parler pour toujours.
Nous allons donc maintenant introduire une taxe sur les services numériques au Royaume-Uni.
Il s'agira d'une taxe étroitement ciblée sur les revenus générés par le Royaume-Uni de modèles commerciaux de plate-forme numérique spécifiques.
Il sera soigneusement conçu pour s’badurer que ce sont les géants de la technologie bien établis – plutôt que nos nouvelles entreprises en technologie – qui supportent le fardeau de cette nouvelle taxe.
Il est important d'insister sur le fait qu'il ne s'agit pas d'une taxe de vente en ligne sur les produits commandés sur Internet. Une telle taxe serait supportée par les consommateurs de ces produits – et ce n'est pas notre intention.
La taxe sur les services numériques ne sera payée que par les sociétés rentables générant au moins 500 millions de livres sterling de recettes globales par an dans les secteurs d'activité concernés.
Nous consulterons sur les détails pour nous badurer que tout est bien fait et que le Royaume-Uni continue d'être le meilleur endroit au monde pour démarrer et développer une entreprise de technologie.
La taxe entrera en vigueur en avril 2020 et devrait permettre de lever plus de 400 millions de livres sterling par an.
Entre-temps, nous poursuivrons nos efforts au sein de l’OCDE et du G20 pour rechercher une solution convenue à l’échelle mondiale.
Et si cela se produit, nous envisagerons de l’adopter à la place de la taxe britannique sur les services numériques.
Mais cette étape montre que nous sommes sérieux au sujet de cette réforme.
Monsieur le Président, il n’est que juste que ces géants mondiaux, dont les activités sont rentables au Royaume-Uni, paient leur juste part pour soutenir nos services publics.
Et, Monsieur le Vice-président, j’ai déjà hâte de recevoir l’appel de l’ancien chef des libéraux démocrates.
Nous mettons à jour les règles du jeu, mais nous devons également nous badurer que les gens respectent les règles.
Et nous poursuivons aujourd'hui le travail des huit dernières années, nous avons obtenu 185 milliards de livres sterling depuis 2010, ce qui autrement aurait été impayé par un ensemble de mesures visant à lutter davantage contre l'évasion fiscale, l'évasion fiscale et les résultats inéquitables, générant 2 milliards de livres sterling supplémentaires. au cours des cinq prochaines années.
Nous ferons du HMRC un créancier privilégié dans les cas d’insolvabilité commerciale afin de nous badurer que la taxe perçue pour le compte de HMRC soit effectivement payée à HMRC.
Nous allons mettre fin à la pratique consistant à acheter des services auprès de succursales à l’étranger afin d’éviter la TVA britannique et à réprimer les sociétés d’badurance qui acheminent leurs services vers des territoires étrangers.
Et nous empêcherons l’abus de notre généreux système de crédits d’impôt R & D en réintroduisant une restriction PAYE pour le régime des petites et moyennes entreprises.
Monsieur le Vice-président:
- investir dans notre infrastructure;
- soutenir les technologies du futur;
- soutenir les entreprises britanniques;
- mettre à jour notre système fiscal à l'ère numérique;
C’est ainsi que nous parviendrons à l’économie future à haute rémunération et à compétences élevées.
Mais nous devons également reconnaître que le changement technologique posera des défis – ainsi que des opportunités – et qu’une partie de notre économie est actuellement confrontée à ce défi: les rues commerçantes. Intégrée au tissu de nos grandes villes et villages, la rue principale se trouve au cœur de nombreuses communautés.
Et il est sous pression comme jamais auparavant, alors que la Grande-Bretagne adopte les achats en ligne avec plus de célérité que toute autre grande économie.
Donc, si les grandes rues britanniques doivent rester au centre de notre vie communautaire, elles devront s’adapter.
Today we support them to do so – responding to calls from across this House, especially from my RHF the member for Putney, and my HFs the members for Southport and Croydon South.
We will provide £675m of co-funding to create a Future High Streets Fund to support Councils to draw-up formal plans for the transformation of their high streets to invest in the improvements they need and to facilitate redevelopment of under-used retail and commercial areas into residential helping with the housing challenge and delivering much needed footfall to high street businesses.
We’ll consult on how modernisation of the Use Clbades Order and CPO regime can help facilitate the transformation of the high street;
Mr Deputy Speaker, the change our high streets face is irreversible and it will take them time to adapt to it.
But I know that many small retail businesses are struggling to cope with the high fixed costs of business rates.
Since 2016 we have introduced business rates relief measures worth £12bn and many of these reliefs will have benefitted high street businesses.
But today I can go further. At the next revaluation in 2021, rateable values will adjust to reflect changes in rental values.
But I want to help retail businesses now.
So for the next two years, up to that revaluation, for all retailers in England with a rateable value of £51,000 or less, I will cut their business rates bill by one third.
That’s an annual saving of up to £8,000 for up to 90% of all independent shops, pubs, restaurants and cafes.
I will also extend the £1,500 local newspaper discount for a further year:
Mr Deputy Speaker, whatever the national press says, I have been badured of a warm welcome for my budget from the Royston Crow and the Keswick Reminder.
Mr Deputy Speaker, local authorities have long been able to provide discretionary business rates relief to other bodies – but not to themselves.
And so following representations from my HFs for North Cornwall and St Austell and Newquay I am pleased to announce a new mandatory business rates relief for public lavatories so that local authorities can, at last, relieve themselves.
For the convenience of the House, Mr Deputy Speaker, and without wishing to get unduly bogged down in this subject this relief will extend to any such facilities made available for public use, whether publicly or privately owned.
Honestly, Mr Deputy Speaker, this is virtually the only announcement in this Budget that hasn’t leaked.
Mr Deputy Speaker, we can’t resolve the productivity challenge or deliver the high standards of living the British people deserve without fixing our housing market.
In last year’s Budget I launched a five-year, £44bn housing programme to deliver the biggest increase in housing supply since 1970 and I abolished Stamp Duty for First Time Buyers on properties up to £300,000.
121,500 first time buyers have already benefited from our new relief and the number of first time buyers is at an eleven year high.
Today I am extending this relief to all first time buyers of shared ownership properties valued up to £500k and we will make this relief retrospective so any first time buyer who has made such a purchase since the last Budget will benefit.
But we have more to do, so I can announce today:
A further £500m for the Housing Infrastructure Fund, to unlock a further 650,000 homes;
The next wave of strategic partnerships with 9 Housing Associations which will deliver 13,000 homes across England;
Up to £1bn of British Business Bank guarantees to support the revival of SME housebuilders;
We are consulting on simplification of the process for conversion of commercial property into new homes;
And because we want to see parishes and neighbourhoods enabling more homes for sale to local people to buy, at prices they can afford we’re providing funding to empower up to 500 neighbourhoods to allocate or permission land for housing through the neighbourhood planning system for sale at a discount to local people in perpetuity.
I am also grateful to my RHF the member for West Dorset for his review of build-out rates – published today.
He concludes that the large housebuilders are not engaged in systematic speculative land-banking and makes several recommendations for reform of the planning system in respect of very large strategic housing sites.
And we will respond in full to his report in the New Year.
Mr Deputy Speaker, meeting the productivity challenge means tapping the potential of every region and nation.
Our devolution agenda is giving power back to the people and today we go further to fire-up the Northern Powerhouse, fuel the Midlands Engine and back our regions across the UK.
We’re increasing the Transforming Cities Fund to £2.4bn and providing an additional £90m to trial new models of smart transport, including ‘on demand buses’ (Mr DS, which I think in our day, we used to call taxis).
We’re launching a competition for proposals for business led-Development Corporations.
We’re funding ten University Enterprise Zones.
There’s £115m for Digital Catapults in the North East, Northern Ireland, and the South East and the Medicines Discovery Catapult in Alderley.
£70m to develop the Defence and National Rehabilitation Centre near Loughborough;
£37m of additional development funding for Northern Powerhouse Rail and £10m for a new pilot in Manchester to support the self-employed to acquire new skills.
We’re backing a new Special Economic Area in South Tees and we’re providing £20m to further develop the plan for the critical central section of East-West rail between Oxford and Cambridge.
And here in our Capital we support the delivery of a further 19,000 homes by improving the Docklands Light Railway with Housing Infrastructure Fund money.
Mr Deputy Speaker, the decisions announced in this Budget means by 20-21 an additional £950m for the Scottish Government; £550m for the Welsh Government and £320m for a Northern Ireland Executive. With larger sums to come over the spending review period due to our record NHS funding.
I can also announce funding for further City and Growth deals, including £150m for Tay Cities, £350m for Belfast, and £120m for North Wales while negotiations progress with Ayrshire, Mid Wales and Borderlands and will begin with Moray, Derry/Londonderry and Strabane as well.
I was pleased to be able to respond to a joint request from the members for Belfast North, Belfast East, and Belfast South to provide the city with £2m help towards the recovery of the city centre following the fire at the iconic bank buildings and we’re moving also forward with schools projects in Northern Ireland worth £300m, to increase the provision of shared and integrated cross community education.
And we’ve agreed to the establishment of a working group to progress plans for short haul APD devolution.
To continue to support Scotland’s oil and gas industry we will maintain headline tax rates at their current levels and launch a call for evidence on our plan to make Scotland a global hub for decommissioning.
And finally, to support our vital fishing industry as we leave the EU we’ll invest £12m over the next three years in cutting edge fisheries technology and safety measures.
Delivering for all our proud nations and for all our English regions.
Mr Deputy Speaker, we are driven by a determination to ensure that the next generation will be more prosperous than ours.
But we cannot secure our children’s future unless we secure our planet’s future ,so at this Budget I take further action with a package of measures, set out in the Budget Red Book so I will provide £10m to deal with abandoned waste sites.
Mr Deputy Speaker, I also said at the Spring Statement that we must become a world leader in tackling the scourge of plastic littering our planet and our oceans.
Billions of disposable plastic drinks cups, cartons, bags and other items are used every year in Britain convenient for consumers but deadly for our wildlife and our oceans.
Where we cannot achieve re-use, we are determined to increase recycling so we will introduce a new tax on the manufacture and import of plastic packaging which contains less than 30% recycled plastic transforming the economics of sustainable packaging.
We will consult on the detail and implementation timetable.
I have also looked carefully at the case for introducing a levy on the production of disposable plastic cups not just for coffee, but for all types of beverage I have concluded that a tax in isolation would not, at this point, deliver a decisive shift from disposable to reusable cups across all beverage types.
I will monitor carefully the effectiveness of the action the takeaway drinks industry is already taking to reduce single-use plastics and I will return to this issue if sufficient progress is not made.
In parallel, my RHF the Environment Secretary will look to address this issue through the reform of the Packaging Producer Responsibility scheme.
Working across government, this ambitious package reflects our determination to lead the world in the crusade to rid the oceans and the environment of plastic waste.
Mr Deputy Speaker, it’s only by dealing with our debts and tackling the long term challenges our country faces, that we can sustainably raise wages and living standards.
But I recognise that many people are feeling pressure on their household budgets now.
And because the hard work of the British people is paying off I am pleased to be able to announce today a series of measures to help families across Britain with the cost of living.
Mr Deputy Speaker, turning first to duties as my RHF the PM has already announced we will freeze fuel duties for the ninth successive year bringing the total saving to the average car driver to over £1,000 and to the average van driver to over £2,500.
The tobacco duty escalator will continue to rise at inflation plus 2%.
Mr Deputy Speaker, I have received numerous representations from my H and RHFs on one particular subject and in response I will be freezing beer and cider duty for the next year keeping the cost of beer down for patrons of the Great British Pub
And, in response to the concerted lobbying of my Scottish Conservative colleagues I will also freeze duty on spirits so that we can all afford to raise a wee dram to Ruth Davidson on the arrival of baby Finn saving 2p on a pint of beer, 1p on a pint of cider, and 30p on a bottle of Scotch or gin compared to the inflation badumption in the OBR forecast while proceeding with the usual RPI increases on wine.
As promised at Autumn Budget 2017, so-called white ciders will be taxed at a new higher rate.
From October next year, I can confirm that we will increase Remote Gaming Duty on online games of chance, to 21% in order to fund the loss of revenue as we reduce FOBT stakes to £2.
From April 2020 APD will be indexed in line with inflation, but there will be no change in the duty rate for short- haul flights.
And the new 26-30 railcard, which I announced at Budget last year, will be available across the network by the end of the year saving up to 4.4 million young people 1/3 off their fares.
And we launch a package of measures on affordable credit and support for credit unions, which is set out in detail in the Red Book.
Mr Deputy Speaker, the switch to Universal Credit is a long overdue and necessary reform.
This is not just a welfare measure it is a major structural reform to our economy that will help to drive growth and employment in the years ahead and I pay tribute to my RHF the Member for Chingford without whose tenacity Universal Credit would never have seen the light.
But I recognise the genuine concerns among many H and RHFs about two issues:
First, the implementation of this programme.
It is an enormous undertaking and we have always been clear we want the migration process to be as smooth as possible.
I have already delivered nearly £3.5 billion to help with the transition including a £1.5bn package of support at last year’s Budget.
Today I can go further with a package of additional measures worth a £1 billion over 5 years enabling my RHF Secretary of State for Work and Pensions to introduce additional protections as existing welfare claimants move onto UC and she will announce details when she introduces the Managed Migration Regulations later this year.
Secondly, I have heard the concerns about the rates and allowances within the design of the system.
In my first Autumn Statement I reduced the UC taper rate from 65% to 63%.
And today I can tell the House I am increasing work allowances in Universal Credit by £1,000 per annum at a cost of £1.7bn annually once roll-out is complete benefitting 2.4 million working-families-with-children and people with disabilities by £630 per year.
Mr Deputy Speaker, universal Credit is here to stay, and we are putting in the funding it needs to make it a success.
Because on this side of the House – we believe that work should always pay.
Mr Deputy Speaker, delivering higher wages for those in work is core to my mission as chancellor. Under the poorest 20% have seen their real incomes grow faster than the richest 20% and the proportion of jobs that are low paid is at its lowest level for 20 years thanks to the National Living Wage introduced in 2016.
From April the National Living Wage will rise again, by 4.9%, from £7.83 to £8.21 handing a full-time worker a further £690 annual pay increase and taking his or her total pay-rise, since the introduction of the National Living Wage, to over £2,750 a year.
We also accept the Low Pay Commission’s recommendations on National Minimum Wage rates supporting young people and apprentices with further above inflation increases.
The current remit of the LPC is for the National Living Wage to reach 60% of Median Earnings by 2020, subject to sustained economic growth.
But next year we will need to give the LPC a new remit beyond 2020.
We will want to be ambitious with the ultimate objective of ending low pay in the UK but we will also want to be careful – protecting employment for lower paid workers.
So we will engage responsibly with employers, the TUC, and the LPC itself over the coming months gathering evidence and views to ensure we get this right – and I will confirm the final remit at the Budget next year.
But as well as making work pay we want working people to keep more of the money they earn.
When we came into office the personal allowance stood at £6,475 and the Higher Rate Threshold at £43,875.
In April, I raised the personal allowance to £11,850 and the Higher Rate Threshold to £46,350 as steps towards our manifesto commitments of £12,500 and £50,000 respectively by 2020.
Those manifesto commitments were, of course, made before our new funding pledge to the NHS and I have received representations that the least painful way for taxpayers to contribute to increased NHS funding would be to abandon our manifesto pledges and freeze the Personal Allowance and the Higher Rate Threshold at current levels.
But let me rebadure the House that my idea of ending austerity does not involve increasing people’s tax bills.
And the improvement we have delivered in the public finances means that, based on the OBR’s forecast, published today I do not need to do so.
I can therefore confirm today that I will meet our manifesto commitments in April 2020.
Raising the Personal Allowance to £12,500 and the Higher Rate Threshold to £50,000.
Before indexing both in line with inflation from 21-22.
But our careful management of the economy allows me to go further.
So I will raise both the Personal Allowance and the Higher Rate Threshold to these levels from April 2019 delivering our manifesto commitments one year early.
A tax cut for 32 million people. £130 in the pocket of a typical basic rate taxpayer, meaning since 2015 we’ve taken 1.7m out of tax altogether, and nearly 1m out of higher rate tax.
And Mr Deputy Speaker, as a result of the announcements I have made today a single parent, receiving Universal Credit, and working 25 hours a week on National Living Wage will benefit by £890 next year.
The hard work of the British people paying off in hard cash in their pockets.
We have turned an important corner now we must pull together to build the bright, prosperous future that is within Britain’s grasp if we choose to seize it, embracing change not hiding from it, building on the inherent strength of the British economy and the indomitable spirit of the British people.
Mr Deputy Speaker, austerity is coming to an end – but discipline will remain.
This Government is delivering on the British people’s priorities supporting our public services investing in Britain’s future keeping our taxes low and getting our debt down.
We are at a turning point in our history and we must resolve to go forwards, not backwards and work together to build a Britain we can all be proud of.
I commend this Statement to the House.
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