CII briefing: Summer Budget 2015
Publication date:
08 July 2015
Last updated:
18 December 2023
A briefing on George Osborne's first Budget since the General Election.
Chancellor George Osborne delivered the first Conservative Budget for 18 years. Unconstrained by being part of a coalition administration, Mr Osborne has set out a broad plan of action which seeks to define the political and economic landscape to 2020 and beyond. The headline announcements include:
- A new National Living Wage (to reach £9 p/h by 2020).
- The abolition of Non-Domicile status.
- A Green Paper on pensions tax relief.
- A new levy on large employers to pay for new apprenticeships.
- An increase in the personal allowance and the threshold for the 40p rate of income tax.
- An increase in Insurance Premium Tax to 9.5%
- A review of the regulation of Claims Management Companies.
To access the main budget documents, visit: https://www.gov.uk/government/topical-events/budget-july-2015
View
the CII's Summer Budget briefing here
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.